- Market services
-
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.
-
Audit quality
We are fiercely dedicated to quality, use proven and globally tested audit methodologies, and invest in technology and innovation.
-
Financial reporting advisory
Our financial reporting advisory team helps you understand changes in accounting standards, develop strategies and communicate with your stakeholders.
-
Audit advisory
Grant Thornton’s audit advisory team works alongside our clients, providing a full range of reviews and audits required of your business.
-
Corporate tax & advisory
We provide comprehensive corporate tax and advisory service across the full spectrum of the corporate tax process.
-
Private business tax & advisory
We work with private businesses and their leaders on all their business tax and advisory needs.
-
Tax compliance
We work alongside clients to manage all tax compliance needs and identify potential compliance or tax risk issues.
-
Employment tax
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
-
International tax
We understand what it means to manage tax issues across multiple jurisdictions, and create effective strategies to address complex challenges.
-
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.
-
Tax law
Our team – which includes tax lawyers – helps you understand and implement regulatory requirements for your business.
-
Innovation Incentives
Our national team has extensive experience navigating all aspects of the government grants and research and development tax incentives.
-
Transfer pricing
Transfer pricing is one of the most challenging tax issues. We help clients with all their transfer pricing requirements.
-
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.
-
Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
-
Superannuation and SMSF
Increasingly, Australians are seeing the benefits, advantages and flexibility of taking control of their own superannuation and retirement planning.
-
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.
-
Cyber resilience
The spectrum of cyber risks and threats is now so significant that simply addressing cybersecurity on its own isn’t enough.
-
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.
-
Financial crime
Our team helps clients navigate and meet their obligations to mitigate crime as well as develop and implement their risk management strategies.
-
Consumer Data Right
Consumer Data Right (CDR) aims to provide Australians with more control over how their data is used and disclosed.
-
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.
-
Controls assurance
In Australia, as with other developed economies, regulatory and market expectations regarding corporate transparency continue to increase.
-
Governance
Through fit for purpose governance we enable our clients to make the appropriate decisions on a timely basis.
-
Regulatory compliance
We enable our clients to navigate and meet their regulatory and compliance obligations.
-
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.
-
Investigations
Our licensed forensic investigators with domestic and international experience deliver high quality results in the jurisdictions in which you operate.
-
Asset tracing investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.
-
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.
-
Acquisition search & strategy
We help clients identify, finance, perform due diligence and execute acquisitions to maximise the growth opportunities of your business.
-
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.
-
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.
-
Transaction advisory
Our transaction advisory services support our clients to make informed investment decisions through robust financial due diligence.
-
Business valuations
We use our expertise and unique and in-depth methodology to undertake business valuations to help clients meet strategic goals.
-
Tax in mergers & acquisition
We provide expert advice for all M&A taxation aspects to ensure you meet all obligations and are optimally positioned.
-
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.
-
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.
-
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.
-
Capital markets
Our team has significant experience in capital markets and helps across every phase of the IPO process.
-
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.
-
Private equity
We provide advice in accessing private equity capital.
-
Financial modelling
Our financial modelling advisory team provides strategic, economic, financial and valuation advice for project types and sizes.
-
Payments advisory
We provide merchants-focused payments advice on all aspects of payment processes and technologies.
-
Voluntary administration & DOCA
We help businesses considering or in voluntary administration to achieve best possible outcomes.
-
Corporate insolvency & liquidation
We help clients facing corporate insolvency to undertake the liquidation process to achieve a fair and orderly company wind up.
-
Complex and international insolvency
As corporate finance specialists, Grant Thornton can help you with raising equity, listings, corporate structuring and compliance.
-
Safe Harbour advisory
Our Safe Harbour Advisory helps directors address requirements for Safe Harbour protection and business turnaround.
-
Bankruptcy and personal insolvency
We help clients make informed choices around bankruptcy and personal insolvency to ensure the best personal and stakeholder outcome.
-
Creditor advisory services
Our credit advisory services team works provides clients with credit management assistance and credit advice to recapture otherwise lost value.
-
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.
-
Asset tracing investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.
-
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.
-
Commercial performance
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
-
Safe Harbour advisory
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
-
Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
-
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.
-
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.
-
Business planning & strategy
Our clients can access business planning and strategy advice through our value add business strategy sessions.
-
Private business company secretarial services
We provide company secretarial services and expert advice for private businesses on all company secretarial matters.
-
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.
-
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.
-
Management reporting
We help you build comprehensive management reporting so that you have key insights as your business grows and changes.
-
Financial reporting
We help with all financial reporting needs, including set up, scaling up, spotting issues and improving efficiency.
-
Forecasting & budgeting
We help you build and maintain a business forecasting and budgeting model for ongoing insights about your business.
-
ATO audit support
Our team of experts provide ATO audit support across the whole process to ensure ATO requirements are met.
-
Family business consulting
Our family business consulting team works with family businesses on running their businesses for continued future success.
-
Private business taxation and structuring
We help private business leaders efficiently structure their organisation for optimal operation and tax compliance.
-
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.
-
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.
-
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.
-
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.
-
Management consulting
Our management consulting services team helps you to plan and implement the right strategy to deliver sustainable growth.
-
Financial consulting
We provide financial consulting services to keep your business running so you focus on your clients and reaching strategic goals.
-
China practice
The investment opportunities between Australia and China are well established yet, in recent years, have also diversified.
-
Japan practice
The trading partnership between Japan and Australia is long-standing and increasingly important to both countries’ economies.
-
India practice
It’s an exciting time for Indian and Australian businesses looking to each jurisdiction as part of their growth ambitions.
-
Singapore practice
Our Singapore Practice works alongside Singaporean companies to achieve growth through investment and market expansion into Australia.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Renewable Energy
Transformation through energy transition
-
Flexibility & benefits
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
-
Your career development
At Grant Thornton, we strive to create a culture of continuous learning and growth. Throughout every stage of your career, you’ll to be encouraged and supported to seize opportunities and reach your full potential.
-
Diversity & inclusion
To be able to reach your remarkable, we understand that you need to feel connected and respected as your authentic self – so we listen and strive for deeper understanding of what belonging means.
-
In the community
We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society by creating lasting benefits that empower others to thrive.
-
Graduate opportunities
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
-
Vacation program
Our vacation experience program will give you the opportunity to begin your career well before you finish your degree.
-
The application process
Applying is simple! Find out more about each stage of the recruitment process here.
-
FAQs
Got questions about applying? Explore frequently asked questions about our early careers programs.
-
Our services lines
Learn about our services at Grant Thornton
-
Current opportunities
Current opportunities
-
Remarkable people
Our team members share their remarkable career journeys and experiences of working at Grant Thornton.
-
Working at Grant Thornton
Explore our culture, benefits and ways we support you in your career.
-
Current opportunities
Positions available.
-
Contact us
Get in touch
The purpose of the legislation is to address recommendations to extend BEAR to registrable superannuation entities (RSEs) and Insurers off the back of the Royal Commission. It does not address recommendations to extend to AFSL holders who are non APRA regulated.
FAR will come into effect 1st July 2022 (or six months after commencement) for ADIs and 1st July 2023 for other classes of entity.
It imposes four sets of obligations:
- Accountability obligations
- Key personnel obligations
- Deferred remuneration obligations
- Notification obligations
The structure and intent of FAR will seem very familiar to readers who are across the Banking Executives Accountability Regime (BEAR). This pre-dated the Royal Commission and has impacted larger banks from 1 July 2019 and smaller banks from 1 July 2020.
However, all but the largest banks will find FAR to be a reduced burden compared to BEAR. Insurers and Superannuation Funds will be faced with a range of new obligations although many have known this reform was inevitable and have been preparing by studying the BEAR.
FAR introduces the concept of directors and most senior and influential executives as accountable persons and directly regulates those persons, not merely the entities which employ them.
Accountable entities – generally APRA regulated financial institutions (FIs) – cover Authorised Deposit-Taking Institutions (ADIs), General Insurers (GI), Life Insurers (LI), Private Health Insurers (PHI), RSEs and non-operating holding companies (NOHCs).
Significant related entities will be captured via obligations on the Accountable entities, including the need to take steps to ensure related entities comply, and require 40% of variable remuneration for directors and most senior and influential executives deferred for four years.
The requirement to prepare accountability maps and statements will apply to larger entities, however size threshold has not been specified. It appears this will be addressed by yet to be released regulations. Notification requirements apply to all entities regardless of size.
FAR will be regulated by APRA and ASIC jointly, or APRA only where the entity does not hold an AFSL or ACL. This is uncharted waters for the regulators and the practical aspects of collaborative supervision will be need to be worked through to ensure coherent coordination.
There is notable interplay and contradictions between FAR and the final version of CPS511 released in August 2021, in particular:
- Highly paid material risk takers concept.
- Specified roles concept.
- Requirements for the role of the Board.
- Requirement for a Board Remuneration Committee.
- Concept of a Remuneration Framework and Remuneration Design.
- Requirement for Remuneration Framework to be reviewed annually and subject to a three year Comprehensive review.
- Deferral of variable remuneration:
- CEOS 60% over six years
- Other senior managers 40% over five years
- Highly paid material risk takers 40% over four years.
- Clawbacks over previous two years.
- Application dates are different – CPS511 applies in three tranches on 1/1/23, 1/7/23 & 1/1/24.
- SFIs & non SFIs thresholds are specified e.g. ADIs $20b in assets.
- Prohibitions on indemnification and hedging of variable remuneration.
- Focus on individual accountability and individual consequences
- Race to regulate remuneration
- Doesn’t deal with quantum of fixed remuneration
Significant related entities for non RSEs will include subsidiaries where the effect on the accountable entity is material and substantial.
For RSEs, the test will be more complex and include related bodies corporate of the licensee, entities with control relationships with the licensee. This also includes a connected entity as defined in S10 of the SIS Act and S50AAA of the Corporations Act.
A related entity of an RSE can be a significant related entity of more than one RSE, however for other types of accountable entity a related entity can be a significant related entity of only one accountable entity.
- Senior executive responsibility for management or control of the accountable entity or a substantial part of the entity or aspect of its operations.
- Typically only CEO and C-level executives.
- Can be an accountable person of multiple accountable entities.
- For foreign branches of ADIs and insurers, the accountable persons are only those who have responsibilities regarding the entity’s Australian operations.
GT Insight
This often results in the SOOA and Local Agent (Local CEO) of the branch as the accountable persons.
1. Accountable entities are obliged to:
a. Take reasonable steps to conduct their business with honesty and integrity, with due care skill and diligence and in a manner that prevents adverse impact on its prudential standing.
b. Goes beyond BEAR obligations by requiring the entity to deal in an open constructive and cooperative way with APRA and ASIC
c. Take reasonable steps to ensure its accountable persons comply with their accountability obligations
d. Take reasonable steps to ensure its significant related entities comply with the accountability obligations
e. Ensure that accountable persons collectively are responsible for the entire business operations of the entity and cover all responsibilities prescribed in the Rules (yet to be released)
f. Register accountable persons with the regulator before they commence in an accountable person role
g. Ensure the accountable person has not been disqualified by the regulator
h. Notify the regulator when the entity believes it has breached its obligations
i. Notify the regulator of material changes to information on the register about an accountable person
j. Comply with information requests in the context of an investigation
2. Accountable persons
a. Obligations mirror those of the entity in a – c above, however only extend to laws impacting the accountable person’s area of responsibility within an entity.
Other points to note:
- Notifications must be made within 30 days of the event or change.
- There is a 90 day period of grace to register accountable persons filling an unforeseen or temporary vacancy.
- The Explanatory Memorandum (EM) provides a specific example of failing to act with due skill, or failing to act with due diligence, being treated as a failure to comply with accountability obligations.
- Multiple accountable persons can have accountability for the same area of operation. This will result in joint and several liability and does not allow for shifting of responsibility from one or more persons to one or more other persons.
- An accountable person and accountable entity must take reasonable steps to support proactive compliance rather than having a “set and forget” approach.
Accountable entities and significant related entities must defer 40% of their accountable persons’ variable remuneration for each financial year, for four years.
Entities must have a remuneration policy which enshrines the ability to defer and/or cancel variable remuneration.
Variable remuneration is that which is conditional upon the person meeting certain objectives. It can be paid in shares or cash and by the accountable entity or other related entities.
GT Insight
Objectives which entitle an accountable person to variable remuneration are quite broad and can be financial or non-financial, qualitative or quantitative, objective or subjective.
The deferral period may be shorter than 4 years if the person ceases to be an accountable person due to death, serious illness, disability, incapacity. Regulatory approval is not required.
GT Insight
Merely ceasing employment or retiring from the workforce would not enable the deferral period to be shorter.
The deferral period starts on the later of:
- The day after the decision was made for the person to be able to earn the variable remuneration, or;
- The first day of the performance period, if the variable remuneration is measured by reference to that period
GT Insight
Most remuneration packages provide for a financial bonus for the financial year.
For example, for year ending 30 June 2024, a bonus may apply if the organisation meets Objectives 1, 2 & 3. The decision to award the bonus is made by the Board on 23 July 2024. In this case the deferral period would start on 24 July 2024 and end on 24 July 2028.
The Regulator retains significant power to override board and remuneration committee decisions. Aspects which the Regulator can determine include:
- Who is an accountable person
- The amount of variable remuneration
- The deferral period
The FAR is explicitly aligned with the new CPS511 Remuneration standard applying to APRA regulated entities.
- Where the deferred remuneration is less than $50,000 ie total variable remuneration is $125,000.
- Where the remuneration is 100% fixed with no variable component.
- Persons filling a temporary or unforeseen vacancy for 90 days or less.
- Non SFEs do not have to provide accountability maps & accountability statements to the regulator.
SFEs face additional obligations to provide accountability maps and accountability statements to the regulator within 30 days.
As expected, a broad range of powers is afforded to the regulators including ability to disqualify an accountable person, exchange of information without the obligation to notify the entity or person who is the subject of the information, conduct investigations, impose civil penalties, and also issue directions and enter into Enforceable Undertakings. A range of obligations such as registering accountable persons within 21 days of receipt of notification and maintaining registers has also been implemented.
GT Insight
The consequences for an individual who is disqualified are potentially very broad and would effectively render it difficult for them to work in any accountable entity in a senior role, as no accountable entity is able to register them as an accountable person. However this stops short of a “banning order” style of prohibition.