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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
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
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IT forensics
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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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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
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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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
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
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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
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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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
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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
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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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.
Ninety per cent of New Zealand businesses see Asia as having the greatest impact on our economy in the next three years, be it positive or negative, according to the recent Grant Thornton International Business Report (IBR).
Greg Thompson, Grant Thornton New Zealand Partner, said that while businesses see the possibilities, few consider they have the ability or capacity to directly access that potential. A step from a market of four million to one of four billion is a gap too wide for most.
“While SME businesses form the backbone of our economy, on the world stage the large majority of New Zealand companies are just too small to be able to tackle Asia, be they exporters or importers. The scale of the proposition is compounded by a range of other factors including distance and language that are also seen as impediments. The difficulty for these businesses is that they each need to reinvent the wheel on how to enter and survive in the international market.
“It’s fine for the Government to say that they want ‘export led growth’ but the reality is that this is just not going to happen without a fundamental change to the way we approach international trade. Not only are most of our businesses too small, they just don’t have the skills or the financial clout.
“The Government is to be commended for its progress in reducing the barriers to trade, through entering into Free Trade Agreements and the like. However, for the Government to achieve its goal, it will have to invest considerably in supporting aspiring companies to execute an international strategy. Our research shows that currently most are just not equipped to achieve this without support,” he said.
The research showed that 30% of all respondents felt that limited knowledge of global markets was the one key factor limiting the ability to take advantage of the global markets, while 20% were worried about exchange rate volatility. The balance of concerns were many and varied.
“The sheer size of Asia, the cultural and language barriers, different legal system and remoteness are all other factors that make dealing in this part of the world difficult. The risks to a business as a whole, of a failed foray in the international market, are real, with a number of publicly reported international failures being the tip of the iceberg of those which are unreported. The fact that China is about to overtake Australia as our biggest trade partner shows the importance of the region. However, the size of the opportunity is also countered by the dangers of over reliance, such as the impact that the slowdown in China had on Australia’s mining industry particularly and the economy in general.”
Thompson said that while New Zealand Trade and Enterprise and the Ministry of Foreign Affairs and Trade provide an invaluable resource to businesses seeking to venture internationally, those businesses were essentially on their own tackling the giant that is Asia.
“The Government should be investing its money in bringing together businesses to collectively scale up, pool resources and knowledge, and provide greater capital to be more effective in their international enterprise. This is much the same way as some of New Zealand’s best international traders have tackled the problem.
“Asia is a great opportunity for New Zealand businesses, be they importers or exporters, but it is a challenging and experienced environment. Don’t forget that the likes of India, China and Japan have been trading with the rest of the world for more than a thousand years and we are the new kids on the block.
“Just like any experience in life, when you start playing with the ‘big boys’ you can get hurt. This is where the Government can play a hand in helping these businesses prepare to enter the Asian markets and then assist them to get ‘back in the saddle’ if things go awry,” he said.
Further enquiries, please contact:
Greg Thompson
Grant Thornton Partner and National Director, Tax
T + 64 (0) 212817332
E greg.thompson@nz.gt.com