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Technical publications Example financial statements

The IFRS team at Grant Thornton Australia produces example financial statements to illustrate the application of the requirements in Australian Accounting Standards (AASBs) which incorporate International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB).

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Essential 8 Internal Audit during COVID-19

As organisations are navigating a new reality – confronting interruptions and disruptions – it is more vital than ever that organisations ensure good risk mitigation practices remain in place to manage rapidly evolving risks and minimise impacts.

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Report Dealtracker 2020

We have released the seventh edition of Dealtracker, our analysis of the Australian M&A and equity markets. Covering transactions during the 18 month period from1 January 2019 to 30 June 2020, we saw a significant decrease in deals in H1 2020 as the world responded to the COVID-19 pandemic.

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Podcast When cash is king – where do you turn when the banks pull back?

During the Global Financial Crisis we saw a tightening of liquidity from traditional sources – which took a period of nearly five years to bounce back.

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Insight Understanding the early warning signs of insolvency

With the world in the grips of COVID-19 and facing tough knock-on effects to all parts of the economy, the Australian Government has released multiple massive support packages to provide relief to individuals and business owners.

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Podcast Getting your house in order - What happens when the COVID support measures end?

When COVID hit, the combination of JobKeeper, banks deferring principal and interest payments, and temporary changes to insolvency laws gave businesses some much needed breathing space – preventing the immediate tsunami of insolvencies many were anticipating.

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Insight Setting up a business presence in Australia

We have all seen the impact COVID-19 has had not only on businesses in general, but more broadly the global economy.

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Insight Deliberately (re)designing your organisation as you step out of COVID-19

As the old adage goes: ‘never let a crisis go to waste’. As a result of COVID-19, business owners and leaders now find themselves in an unfamiliar position.

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Royal Commission wrap up Top 10 things for Financial Services providers

Eleven months on from the first round of hearings for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Hayne’s final report has been released.

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Aged Care Royal Commission Perspectives on the Future of Ageing

Transitions in ageing are not consistent and systematic as they are described by our ageing systems. Sometimes they are incremental, sometimes accidental, sometimes monumental, and they are always personal. We can create something better.

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Biotechnology Industry Position survey Australia's biotechnology industry drives economic growth

The 2019 Biotechnology Industry Position survey conducted by Ausbiotech and supported by Grant Thornton has revealed that new technologies across regenerative medicine and medicinal cannabis are disrupting the industry, and Australia's global strength in clinical trials continues to drive contributions to the economic and social fabric of the country.

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mid-sized business report Manufacturing is critical to our economy – how can we support the sector?

Although the knock-on effects of the Australian automotive industry exiting our country are yet to be fully understood, the industry is evolving, and manufacturing continues to be a major employer and critical to our overall economy.

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NATIONAL OUTCOMES MEASUREMENT PROGRAM A practical framework

Royal Commissions and federal budgets are critical things for Nonprofit human service providers to be thinking about at this point in time.

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mid-sized business report Supporting affordable housing requires planning, certainty – and tax reform

There is a lot of noise around the property sector at the moment – and it’s not all positive. Prices are down – but this shouldn’t be a surprise when some markets (namely Sydney & Melbourne) saw unprecedented hikes in recent years.

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GNC Group Consulting The Technology Trap: Online innovation in retail

I recently attended the NRF Retail Big Show in New York, an overwhelming smorgasbord of retail technology and new store concepts.

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Scaling-up for Growth From start-up to scale-up

Navigating the complexities of growth and maintaining previous success is a challenge for all mid-size businesses.

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Insights
Redesign your operations, optimise your business

Redesign your operations, optimise your business

Performance improvement in a COVID world

No matter what your industry, businesses have been navigating the COVID-19 ‘new norm’ for some time now. The economic slow-down has been coupled with a health crisis and changing consumer behaviours that will have far-reaching consequences well beyond the pandemic. Things will never be the same again and your customers and clients have changed. Have you?

Now is the time to create a more optimised, efficient, and diversified business model and improve performance.

Leaders and executive teams must look to deliberately (re)design their operations and take a proactive approach to how they will now do business.

Organisations need to work harder and more quickly to remove complexity and inefficiencies from their operations to counter cost headwinds that have emerged through COVID-19. They need to see where new customers are coming from and how to better streamline processes to cost-effectively access diversified traffic. They must improve their performance to efficiently, sustainably and profitably turn businesses and their operations around. And they must assess their business’ readiness for, and response to, the early impacts and stresses of a sudden crisis.

There is a lot to consider and timeliness will have a significant impact on success.

Deliberately (re)designing your organisation

For all businesses, there are a range of factors driving a shift away from the previous ‘normal’. From a reduction and change in consumer discretionary spending, changed customer and client expectations, through to changing workforces, there are proactive steps businesses can take now to ready and steady their businesses for a post-COVID-19 world. Key to this will be considering the new and unmet needs of your customers and your organisations preparedness for a greater and irreversible shift to online.

It's not a return to work, it's a redesign of work

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Deliberately (re)designing your organisation as you step out of COVID-19

Harnessing culture in COVID-19: The light at the end of the tunnel

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Shaping the workforce of the future

There is no escaping the fact that COVID-19 has had a huge impact on people – not just on their physical health, but on their mental health and livelihoods. Jobs have been lost, furloughed, adapted or increased.

Now, humans are adaptable by nature – and necessity is the mother of invention. The coronavirus COVID-19 has changed how we work, collaborate and engage. For instance:

How do you manage remote workforces – not only to ensure productivity but also engagement and collaboration?
Remote working and productivity are not mutually exclusive – regional areas may be able to tap into talent from other areas, and conversely urban employers can look further afield to find that perfect fit.

Managing a remote workforce and maintaining engagement

A Darwinian workforce – the environment has changed so much, it’s survival of the fittest

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Preparing for the unexpected

There is tangible value in being prepared for the unexpected. COVID-19 has provided organisations and business leaders with a unique opportunity to identify real-time lessons learned from the pandemic as stakeholders have enacted the plans. This has allowed businesses to test their preparedness and evaluate their plan in a practical sense.

Learn and adapt now, because we don’t know what the next disruption could be. Another pandemic, cyberattack, break-down in international diplomacy, market collapse or natural disaster, the effects of which are amplified by our global interactions and dependencies.

For many, this was new terrain and it is still unclear what the next few months will bring. Given this unprecedented global situation, it is an opportune time for businesses to continually assess and adapt their business continuity plans to ensure the smoothest ongoing service possible.