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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Debt advisory
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Raising finance
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
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Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
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Corporate tax
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
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Business architecture
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Cloud services
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
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Project assurance
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
That’s a thought that’s crossed the mind of 10% of construction workers at least monthly, according to a survey by Mates in Construction NZ. And the awful reality is that many follow through on this thought. According to Mates:
- construction workers are six times more likely to die from suicide than in a work accident
- the construction industry is losing nearly one person a week to suicide
- young men in the industry are twice as likely to die by suicide compared to young men
- working outside construction
- the highest suicide rates were among labourers, technicians and trades workers, painting
- trades workers, carpenters, electricians, carpenters and joiners, and plumbers.
Naturally, the construction sector is hyper-aware of health and safety – they pride themselves on it. Their workers are decked out in the best protective gear, their equipment is always fully maintained, and their systems are excellent. It’s inherent within the sector to look after people’s physical wellbeing primarily because of the risks involved to personal safety, and legislated requirements with severe financial penalties for non-compliance.
But now is the time the sector must start focussing on mental health. There’s increasing evidence of the mental health challenges being faced by construction workers; the statistics are alarming from a human wellbeing point of view, and lives are being put at risk. And, although they might be indirect, there are also severe financial penalties for companies that ignore the mental health of their workers; these can include workers not turning up or resigning, which drives up recruitment and training costs, and distracted workers who make mistakes creating project completion delays or overruns.
A vicious cycle of overwork and burnout
For the past year or two, there has been a sense of desperation in the industry when it comes to finding people. With too few people to work (especially qualified transport drivers) - and massive demand, businesses must try to deliver with the people they have.
You have three or four days of bad weather, and suddenly you’re behind on a contract? Well, tough as you still have to find a way to deliver. The people on site often end up working longer hours, under more pressure, with more responsibility than they’re ready for. Challenging and risk-based decisions often have to be made.
This creates a vicious cycle of overwork and burnout. People simply stop turning up on site, or turn up, and then go home, because they can’t face the pressure today - or anymore.
Poor mental wellbeing can also lead to preventable accidents – if people are distracted and tired, it’s easy for something to go wrong and for somebody to get badly injured.
Mental wellbeing might not be legislated, but it has as much of an impact as physical wellbeing – arguably more.
For older generations that have driven and grown up in this industry, there’s a temptation to feel that younger people should just harden up, but this just makes it tougher for people in the industry to start talking about what worries them, scares them, or challenges them – both the systemic problems and their own personal issues.
5 ways to invest in mental wellbeing
Grant Thornton’s biannual business survey revealed nearly half (47%) of respondents plan to invest in upskilling their staff this year. Choosing to invest in mental wellbeing could help your businesses retain staff, reduce absences, and keep everyone on site safer, happier and more productive. With a forecast shortage of 120,000 construction workers by 2024, taking care of your people so they stay with your business is absolutely essential.
Most of the construction businesses I work with are acutely aware of the mental health crisis in their industry - it’s almost always a topic of conversation when I meet with them, but it’s hard to know where to start tackling the problem. If you’re not sure how to get started, here’s some recommendations:
1. Make your team aware of the resources available to them
Two excellent places to start are:
- Mates in Construction, an organisation with one simple but ambitious aim to reduce the number of lives lost to suicide in the construction industry. It provides training, helpline services and research. You can become a partner and get training for your team to help them develop coping strategies, and improve their resilience and metal wellbeing.
- For All the Brothers, a Facebook community that aims to change the view on men’s mental health. It posts daily, encouraging conversations and providing support.
2. Invite people into your business who can relate to your team
Reach out to experts who can come in and speak specifically about mental wellbeing in the construction industry and start a conversation with your team – people your workers will relate to. A team event with a focus on mental health will connect them and get them talking. Explore the programmes on offer with organisations like Mates in Construction.
3. Keep the conversation going
Build deeper relationships between management and the wider team through more collaborative communication – strong relationships support mental wellbeing and resilience. Talk about your own mental wellbeing journey, what you do to keep yourself well and resilient, and encourage everyone in the organisation to do it, as well as team solution-based thinking.
4. Challenge your own thinking
If you’ve found yourself wondering why the younger generation can’t just get on with it, you might need to rethink your own approach to mental wellbeing. The ‘harden up’ approach wasn’t necessarily good for our generation, and today’s young people are under more pressure than we were at the same point in our careers.
Lead by example
Finally, lead by example. Ask people how they are – and listen to the answer! Let go of the old-school culture in the industry, start sharing and truly listen – open up those conversations and make it known it’s OK to talk . It’s not going to be easy to start these conversations, and people might feel uncomfortable at first. But it’s time to start giving your team’s mental wellbeing the same amount of care and consideration you give their physical wellbeing, and when you invest in this, everyone wins.