-
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.
-
Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
-
Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
-
Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
-
Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
-
Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
-
Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
-
Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
-
Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
-
IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
-
Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
-
Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
-
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.
-
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
-
Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
-
Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
-
Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
-
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
-
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.
-
GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
-
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.
-
Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
-
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.
-
Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
-
Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
-
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
-
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.
-
Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
-
Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
-
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.
-
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.
-
IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
-
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
-
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.
-
PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
-
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
-
Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
-
Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
-
Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
-
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.
There is no doubt International Accounting Standards have contributed significantly to the globalisation of the business world, crucially providing reliable and comparable information to investors for decision-making purposes.
Similar progress is yet to be achieved in the sphere of international valuation and the valuation profession. However, the International Valuation Standards Council (IVSC) is currently making significant progress towards the development of high quality International Valuation Standards (IVS) to underpin consistency, transparency and confidence in valuations across the world.
Blazing a trail
Over the forty years since the inception of the International Accounting Standards Board (IASB), IASs have become well accepted and are now used throughout the world. They even extend as far south as my home in New Zealand, when we find time away from rugby and making films about hobbits.
The development of International Accounting Standards (IASs) has coincided with (and contributed to) the increasing globalisation of the business world, flowing from a desire by investors to obtain reliable and comparable information for decision-making purposes. There is no doubt IASs have enhanced both the quality and comparability of accounting information, and the accounting profession, globally.
Dark art or solid science…?
Although steps are being taken in the right direction, international valuation and the valuation profession have yet to develop this level of standardisation. This is a missed opportunity, given issues of value and valuation lie at the heart of many key business decisions, for example:
- How much should I pay for this asset?
- Is the security offered for this loan reasonable?
- At what value should I transfer this asset to another jurisdiction?
The opinion-based nature of valuation, sometimes referred to as art rather than science, means that a degree of subjectivity will always exist.
However, a lack of uniform standards means there is often not even a consistent starting point. There remains wide variation in valuation bases, methods and approaches used to assess value. This makes it challenging to assess reasonableness, including any ‘like for like’ comparison with other assets. The assessment and evaluation of fair values for assets and liabilities disclosed in audited accounts is a key issue in valuation (and accounting) today.
Pressure from above
The 2008 financial crisis demonstrated the impact of poor quality valuations across a range of assets. Since then, regulators (including the US Securities and Exchange Commission) have expressed concerns about valuations and indicated possible intervention unless the valuation profession improves. The sentiment seems to be that if the profession does not get its ‘house in order’, someone else will do it for them. There is clearly a need for a more developed valuation profession.
Paving the way
The IVSC has an important role in this development. It is an independent, not-for-profit organisation that acts as the global standard setter for valuation practice and the valuation profession. Its core objectives are to develop high quality IVS and encourage the adoption of IVS across the globe.
Following a recent reorganisation, the IVSC has implemented a robust governance structure and is chaired by Sir David Tweedie, former chairman of the IASB. It has three core technical focus areas: the valuation of tangible assets, businesses and financial instruments.
After an extensive consultation process from April to October last year, in January 2017 the IVSC issued the latest version of its International Valuation Standards (IVS 2017).
Seeking input and counsel
Earlier this year, I was delighted to be appointed for a three-year period to the newly established Business Valuation Standards Board, a specialist subject matter board of the IVSC. There is also a Tangible Asset Board, and applications recently opened for a further specialist board focused on financial instruments. The main objective of these boards is to enhance the ‘in-house’ technical expertise of the IVSC.
Since the publication of IVS 2017, and following IVSC board meetings in New York earlier this year, IVSC has opened a new consultation on future revisions to the International Valuation Standards. IVSC would like to know:
- What topics it should address as part of its current agenda, and
- What additional topics should be priorities or added to IVSC’s agenda?
IVSC is currently proposing to prioritise non-financial liabilities, biological assets and extractive industries. The consultation runs for 90 days, ending on 15 August 2017. Please click here to read more about or contribute to the consultation.
If you have any questions or comments regarding IVSC and its activities, please feel free to get in touch.
