- Market services
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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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Renewable Energy
Transformation through energy transition
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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.
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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.
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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.
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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.
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Known as the Global Internal Audit Standards (GIAS), it aims to improve and clarify both mandatory requirements and recommended guidance for the Internal Audit function, in turn improving the quality of Internal Audit across the industry.
What are the changes?
The GIAS
Within the new 2024 IPPF, the GIAS is the new primary component, superseding the previous five mandatory elements of the 2017 framework. The GIAS will be further supported by the Topical Requirements and Global Guidance, which the IIA plan to release in late 2024 or early 2025.
While additional elements have been added to the GIAS, nothing has been outright removed from the previous framework. Instead, to remove duplication across the Principles, Code of Ethics and Standards and simplify guidance, requirements have been remapped and restructured from 10 Core Principles into 15 principles split into five domains.
Essential Conditions
Several ‘Essential Conditions’ have been added to the GIAS within Domain 3 – Governing the Internal Audit Function (Principles 6 to 8). While many of these previously existed in the 2017 standard as recommendations for the Internal Audit function and key stakeholders, the guidance has now been expanded into mandatory requirements to guide effective Internal Audit oversight, alignment and operation. Some of these have been highlighted below for CAEs to discuss with the Board and assess whether any changes need to be made. These changes include:
- 6.3 – Chief Audit Executive (CAE), Board and Senior Management Communication
- The CAE, Board and Senior Management must communicate about any other expectations for inclusion within the Charter and support/champion the Internal Audit function throughout the organisation.
- 7.1 – Independence of IA
- The Board and Senior Management now have additional obligations to engage with the CAE and each other to understand any potential conflicts and discuss any safeguards.
- 7.2 – Appointment of the CAE
- The Board and Senior Management are required to consult each other on the appointment of a CAE, taking into consideration their qualifications, experience and competency to carry out the role.
- 8.4 External Quality Assessment
- An independent quality assessment is now required to be reported to the board at least once every 5 years. The independent assessment team must include at least one holder of a Certified Internal Auditor qualification.
Expanded obligations
The CAE and Internal Audit should also familiarise themselves with a number of expanded obligations outside of Domain 3. As these are based on better practices, many organisations and their Internal Audit functions may already have these in place, partially, informally or otherwise. A subset of the key changes are outlined below:
- 3.2 Where the Internal Auditor has already achieved their professional certification, they must fulfill the requirements to maintain these certification/s.
- 4.3 Internal Auditors must exercise professional scepticism when performing internal audit services
- 5.2 Internal Auditors should be aware of, understand and abide by relevant confidentiality, information security and privacy laws and manage the associated risk accordingly.
- 9.2 The CAE must develop and implement a long-term IA strategy (3-5 years) to guide the IA function and development of the IA Plan.
- 10.2 and 3 The CAE must ensure that the IA function is appropriately resourced by qualified internal auditors with appropriate competency and that IA is supported by appropriate technology to carry out the IA process.
- 12.2 The CAE must establish KPIs to evaluate IA’s performance and develop action plans to address remediation of any issues or improvements to be implemented.
Advisory, consulting and assurance
While the previous framework included separate requirements for assurance and consulting services, the new GIAS now makes minimal distinction between the two and advisory engagements.
The only exceptions to this lie in Standards 13.2, 13.4 and 14.2, which cover engagement risk assessment, evaluation criteria and engagement finding analysis respectively. Whereas previously almost a third of the standard was dedicated to requirements for consulting engagements, these have now largely been consolidated with advisory, removing significant duplication and potentially confusing or conflicting guidance.
We’re here to help
To allow organisations time to review and implement any changes necessary because of the update GIAS, the IIA is giving 1 year for IA functions to adopt the new standard by 9 January 2025.
Grant Thornton offers a range of services that can be done individually or as part of a concerted implementation plan to help your IA function address adoption of the new standard. These include:
- A gap analysis of your current Internal Audit function’s compliance with the new framework.
- Development and/or implementation support for a plan to address any gaps identified.
- Post-implementation reviews to assess any residual gaps.
- Provision of training/workshops with your internal audit team/Board/senior management to address the changes to the framework.
For a more detailed breakdown of all the changes made please refer to the pdf linked below or reach out to one of our Risk Consulting team members.