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Compliance audits & reviews
Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
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Audit quality
We are fiercely dedicated to quality, use proven and globally tested audit methodologies, and invest in technology and innovation.
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Financial reporting advisory
Our financial reporting advisory team helps you understand changes in accounting standards, develop strategies and communicate with your stakeholders.
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Audit advisory
Grant Thornton’s audit advisory team works alongside our clients, providing a full range of reviews and audits required of your business.
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Corporate tax & advisory
We provide comprehensive corporate tax and advisory service across the full spectrum of the corporate tax process.
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Private business tax & advisory
We work with private businesses and their leaders on all their business tax and advisory needs.
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Tax compliance
We work alongside clients to manage all tax compliance needs and identify potential compliance or tax risk issues.
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Employment tax
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
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International tax
We understand what it means to manage tax issues across multiple jurisdictions, and create effective strategies to address complex challenges.
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GST, stamp duty & indirect tax
Our deep technical knowledge and practical experience means we can help you manage and minimise the impact of GST and indirect tax, like stamp duty.
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Tax law
Our team – which includes tax lawyers – helps you understand and implement regulatory requirements for your business.
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Innovation Incentives
Our national team has extensive experience navigating all aspects of the government grants and research and development tax incentives.
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Transfer pricing
Transfer pricing is one of the most challenging tax issues. We help clients with all their transfer pricing requirements.
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Tax digital consulting
We analyse high-volume and unstructured data from multiple sources from our clients to give them actionable insights for complex business problems.
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Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
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Superannuation and SMSF
Increasingly, Australians are seeing the benefits, advantages and flexibility of taking control of their own superannuation and retirement planning.
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Payroll consulting & Award compliance
Many organisations are grappling with a myriad of employee agreements and obligations, resulting in a wide variety of payments to their people.
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Cyber resilience
The spectrum of cyber risks and threats is now so significant that simply addressing cybersecurity on its own isn’t enough.
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Internal audit
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
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Financial crime
Our team helps clients navigate and meet their obligations to mitigate crime as well as develop and implement their risk management strategies.
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Consumer Data Right
Consumer Data Right (CDR) aims to provide Australians with more control over how their data is used and disclosed.
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Risk management
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
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Controls assurance
In Australia, as with other developed economies, regulatory and market expectations regarding corporate transparency continue to increase.
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Governance
Through fit for purpose governance we enable our clients to make the appropriate decisions on a timely basis.
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Regulatory compliance
We enable our clients to navigate and meet their regulatory and compliance obligations.
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Forensic accounting and dispute advisory
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
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Investigations
Our licensed forensic investigators with domestic and international experience deliver high quality results in the jurisdictions in which you operate.
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Asset tracing investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.
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Mergers and acquisitions
Our mergers and acquisitions specialists guide you through the whole process to get the deal done and lay the groundwork for long-term success.
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Acquisition search & strategy
We help clients identify, finance, perform due diligence and execute acquisitions to maximise the growth opportunities of your business.
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Selling a business
Our M&A team works with clients to achieve a full or partial sale of their business, to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
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Operational deal services
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
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Transaction advisory
Our transaction advisory services support our clients to make informed investment decisions through robust financial due diligence.
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ESG Due Diligence
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
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Business valuations
We use our expertise and unique and in-depth methodology to undertake business valuations to help clients meet strategic goals.
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Tax in mergers & acquisition
We provide expert advice for all M&A taxation aspects to ensure you meet all obligations and are optimally positioned.
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Corporate finance
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
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Debt advisory
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
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Working capital optimisation
Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
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Capital markets
Our team has significant experience in capital markets and helps across every phase of the IPO process.
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Debt and project finance raising
Backed by our experience accessing full range of available funding types, we work with clients to develop and implement capital raising strategies.
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Private equity
We provide advice in accessing private equity capital.
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Financial modelling
Our financial modelling advisory team provides strategic, economic, financial and valuation advice for project types and sizes.
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Payments advisory
We provide merchants-focused payments advice on all aspects of payment processes and technologies.
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Voluntary administration & DOCA
We help businesses considering or in voluntary administration to achieve best possible outcomes.
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Corporate insolvency & liquidation
We help clients facing corporate insolvency to undertake the liquidation process to achieve a fair and orderly company wind up.
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Complex and international insolvency
As corporate finance specialists, Grant Thornton can help you with raising equity, listings, corporate structuring and compliance.
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Safe Harbour advisory
Our Safe Harbour Advisory helps directors address requirements for Safe Harbour protection and business turnaround.
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Bankruptcy and personal insolvency
We help clients make informed choices around bankruptcy and personal insolvency to ensure the best personal and stakeholder outcome.
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Creditor advisory services
Our credit advisory services team works provides clients with credit management assistance and credit advice to recapture otherwise lost value.
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Small business restructuring process
We provide expert advice and guidance for businesses that may need to enter or are currently in small business restructuring process.
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Asset tracing investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.
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Independent business reviews
Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.
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Commercial performance
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
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Safe Harbour advisory
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
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Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
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Director advisory services
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
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Debt advisory
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
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Business planning & strategy
Our clients can access business planning and strategy advice through our value add business strategy sessions.
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Private business company secretarial services
We provide company secretarial services and expert advice for private businesses on all company secretarial matters.
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Outsourced accounting services
We act as a third-party partner to international businesses looking to invest in Australia on your day-to-day finance and accounting needs.
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Superannuation and SMSF
We provide SMSF advisory services across all aspects of superannuation and associated tax laws to help you protect and grow your wealth.
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Management reporting
We help you build comprehensive management reporting so that you have key insights as your business grows and changes.
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Financial reporting
We help with all financial reporting needs, including set up, scaling up, spotting issues and improving efficiency.
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Forecasting & budgeting
We help you build and maintain a business forecasting and budgeting model for ongoing insights about your business.
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ATO audit support
Our team of experts provide ATO audit support across the whole process to ensure ATO requirements are met.
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Family business consulting
Our family business consulting team works with family businesses on running their businesses for continued future success.
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Private business taxation and structuring
We help private business leaders efficiently structure their organisation for optimal operation and tax compliance.
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Outsourced CFO services
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.
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ESG & sustainability reporting
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
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ESG & sustainability advisory
With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.
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ESG, sustainability and climate reporting assurance
As the demand for organisations to prepare information in relation to ESG & sustainability continues to increase, through changes in regulatory requirements or stakeholder expectations, there is a growing need for assurance over the information prepared.
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ESG Due Diligence
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
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Management consulting
Our management consulting services team helps you to plan and implement the right strategy to deliver sustainable growth.
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Financial consulting
We provide financial consulting services to keep your business running so you focus on your clients and reaching strategic goals.
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China practice
The investment opportunities between Australia and China are well established yet, in recent years, have also diversified.
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Japan practice
The trading partnership between Japan and Australia is long-standing and increasingly important to both countries’ economies.
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India practice
It’s an exciting time for Indian and Australian businesses looking to each jurisdiction as part of their growth ambitions.
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Singapore practice
Our Singapore Practice works alongside Singaporean companies to achieve growth through investment and market expansion into Australia.
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Vietnam practice
Investment and business opportunities in Vietnam are expanding rapidly, driven by new markets, diverse industries, and Vietnam's growing role in export manufacturing, foreign investment, and strong domestic demand.
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Client Alert Government Grants in FY25As we embark on a new financial year, it’s crucial to take a strategic approach to understanding the government grants landscape.
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Client Alert Consultation on foreign resident CGT rules commencesTreasury is taking steps to ensure fairer tax treatment for foreign resident investors by tightening Australia's foreign resident Capital Gains Tax (CGT) regime. Proposed changes aim to broaden the CGT base and enhance integrity, impacting infrastructure, energy, agriculture, and more.
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Insight Australian wine export strategies post-China tariff removalFollowing the recent removal of tariffs on Australian wine by China, the industry is keen to rebuild relations and explore the right export markets. This presents Australian wine producers with a chance to reassess their position in the global market.
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Insight Cultivating innovation: A guide to claiming the R&D Tax Incentive in the Agribusiness sectorTo facilitate continued innovation in the Agribusiness sector, the Federal Government’s Research and Development Tax Incentive supports companies to undertake research and development activities that meet the eligibility criteria.
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In summary:
- There is no change to the scope of entities caught by the proposed legislation, or the reporting timeline for Group 2 and Group 3 entities from the previous exposure draft legislation.
- The start date for Group 1 entities is delayed from 1 July 2024 to 1 January 2025. Group 1 entities with a 31 December year-end have no change to expected timeline (financial year ended 31 December 2025). For entities with a 30 June year-end, this means their first reporting period will be the financial year ended 30 June 2026.
- The delay in timing will provide entities time to develop the necessary sustainability reporting processes and implement appropriate internal controls over sustainability reporting information. Entities should be conscious that a lack of appropriate internal controls over sustainability reporting processes for the full financial year may impact the related assurance opinion.
- The timing and extent of assurance requirements of the sustainability report will be phased in on a timeline determined by the Auditing and Assurance Standards Board (AUASB).
- Broader modified legal liability provisions than the exposure draft legislation have been introduced, including forward looking climate-related statements for the first 12 months of the regime, and requirement for Directors to declare the entity has taken “reasonable steps” to comply with the sustainability reporting standards and Corporations Act 2001 (Corporations Act).
Introduction
On 27 March 2024, the Government introduced a bill into Parliament that implements mandatory climate-related financial disclosure requirements for entities meeting certain criteria that prepare annual reports under Chapter 2M of the Corporations Act, or have emissions reporting obligations under the National Greenhouse and Energy Reporting Act 2007. This follows the exposure draft of the legislation published by the Australian Treasury on 12 January 2024.
The climate-related financial disclosure requirements have been incorporated as Schedule 4 of an omnibus bill: Treasury Laws Amendment (Financial Market Infrastructure and other measures) Bill (“the Bill”).
The Bill sets out climate-related financial reporting requirements for entities, leveraging the existing financial reporting regime defined by Chapter 2M of the Corporations Act. Consistent with the exposure draft legislation, the Bill requires a new ‘sustainability report’ that will form part of the annual financial report.
The Bill has been referred to the Senate Economics Legislation Committee, which is due to report by 30 April 2024. Subject to the legislation being enacted by the Parliament and receiving Royal Assent by 2 December 2024, the legislation will be in force for financial years commencing on or after 1 January 2025.
The sustainability report will be prepared in compliance with the Australian Sustainability Reporting Standards (ASRS) issued by the Australian Accounting Standards Board (AASB). The ASRS public consultation period closed 1 March 2024, and we now await either a re-exposure of draft ASRS or the issuance of final standards.
The sustainability report will also be subject to mandatory assurance requirements which are phased in over time. Unlike the previous exposure draft legislation, the Bill requires the AUASB to make assurance standards defining the extent to which the sustainability report is subject to assurance, and the timeline to phase in those assurance requirements. The AUASB recently has opened a public consultation regarding the development of assurance phasing. As a result, it is possible that the transition from limited to reasonable assurance over the whole sustainability report will occur on a quicker timeline than the 1 July 2030 timing that was in the original exposure draft legislation. Comments on the AUASB public consultation close 3 May 2024.
The requirement to prepare a sustainability report will phase in over a period of 4 years, in three groups that remain consistent with the exposure draft legislation, as shown in the following table.
*The start date of 1 January 2025 for Group 1 entities is subject to the legislation being enacted by 2 December 2024. If the legislation is enacted by 1 June 2025, the start date will be 1 July 2025. If the legislation is enacted after 1 June 2025, the start date is the next 1 January or 1 June that is at least 29 days from date of enactment.
The Bill has delayed the start date of the legislation from 1 July 2024 to 1 January 2025. Group 1 entities with a 31 December year-end have no change to expected timeline (financial year ended 31 December 2025). For entities with a 30 June year-end, this means their first reporting period will be the financial year ended 30 June 2026.
The delay in timing will provide entities time to develop the necessary sustainability reporting processes and implement appropriate internal controls over sustainability reporting information. Entities should be conscious that a lack of appropriate internal controls over sustainability reporting processes for the full financial year may impact the related assurance opinion.
The Bill also introduces broader modified legal liability provisions than originally contemplated in the exposure draft legislation.
For financial years commencing within 12 months of the start date (i.e. 1 January 2025 – 31 December 2025):
- Limited immunity is extended to all forward-looking statements in relation to climate, made in a sustainability report in compliance with the sustainability reporting standards.
For financial years commencing within 3 years of the start date (i.e. 1 January 2025 – 31 December 2027):
- Limited immunity for statements in relation to Scope 3, transition planning and climate-scenario analysis.
- Directors’ declaration on the sustainability report will be whether, in the directors’ opinion, the entity has taken “reasonable steps” to ensure the substantive provisions of the sustainability report are in accordance with the Corporations Act.
Where limited immunity applies, only ASIC will be able to take legal action for misleading and deceptive conduct. This does not prevent criminal proceedings. Existing liability provisions, including the presumption that forward-looking statements made without reasonable basis are misleading, will apply after the limited immunity periods.
The limited immunity will also be available to entities that choose to early-adopt or voluntarily adopt the ASRS during the limited immunity periods. Entities seeking to rely on this protection must explicitly state that the sustainability report is in compliance with the ASRS.
Next steps
The expectation is that entities will have implemented appropriate processes and internal controls over the sustainability information in place for the full period covered by the report. Therefore, it is imperative that entities begin preparing for reporting well in advance of the first reporting period.
Even if you have previously done some sustainability reporting under a different framework, like TCFD or GRI, there will be additional work needed to meet the requirements of ASRS reporting. This work will need to be completed in advance of the commencement of the first reporting period in which the entity publishes an ASRS compliant report.
Grant Thornton has a team of sustainability reporting specialists who understand the intricacies of the ASRS reporting requirements. Our team can work closely with you to navigate through the process of getting ready for ASRS reporting, including:
- climate-related risk and opportunity guidance;
- reporting gap identification;
- greenhouse gas emissions guidance;
- assurance readiness;
- climate reporting support; and
- training and education.
If you would like to learn more, please reach out to one of our sustainability reporting specialists.