Client Alert
APRA set credit risk provisioning expectations for ADIs
Today, APRA shared a letter outlining their expectations regarding credit risk provisioning for ADIs. Its focus includes robust model risk management, ongoing sensitivity analysis to navigate economic fluctuations, and the development of systematic procedures for identifying and addressing sector-specific risks – particularly in the context of AASB 9 Financial Instruments.
Grant Thornton’s expert audit approach will help you comply with regulations, and improve business strategies and internal processes.
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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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2 min read
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19 Oct 2023
We work with clients at all stages of their business lifecycle – and through all their organisation’s major events – to navigate tax obligations.
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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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Data transformation and analytics
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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Insight
Implications of the US tax credit proposal on Australia’s electric vehicle industry
The US has introduced a proposal into the US electric vehicle market – one which will likely have global ramifications. With Australia's rich mineral resources, this change creates an opportunity to invest in domestic processing, create jobs, and position Australia as a global leader in critical minerals.
3 min read
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17 Nov 2023
We work with clients to implement risk management processes and strategies to reduce risk and identify opportunity to extract commercial value.
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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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Insight
Accounts payable and payroll employee fraud: identification, detection and prevention
Accounts payable and payroll fraud conducted by employees is an issue that can have a negative impact on businesses. Detecting and investigating these types of fraud requires a systematic approach to identify irregularities, gather evidence, and take appropriate action against the perpetrators.
6 min read
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16 Nov 2023
Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
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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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Digital forensics
Our digital forensic experts identify, preserve and analyse data in the context of reputation and regulatory enforcement issues for investigations, legal or administrative proceedings.
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eDiscovery
In a data-driven economy, data enables commercial and economic growth, innovation, and social benefit.
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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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Insight
Greenwashing litigation risks – a forensic accounting perspective
The release of global sustainability reporting standards, elevated activity from regulators, and the ever-increasing pressure from stakeholders on the ESG agenda have all contributed to a general raising of expectations on the progress of Sustainability Reporting.
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6 min read
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21 Nov 2023
Our team works with clients on all aspects of their deals and transactions to get the deal done and implement the frameworks for long-term success.
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Mergers and acquisitions
Our mergers and acquisitions consultants 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, grade, screen, perform due diligence and execute acquisitions to maximise the growth opportunities of your business.
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Divestments
Our divestment team works with clients across the entire divestment process 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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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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M&A Transactions in Australia
Dealtracker 2023
M&A deal volumes and IPOs are down during economic uncertainty – but that hasn’t stopped Australia being an attractive investment opportunity.
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1 min read
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11 Oct 2023
Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
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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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Capital 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 and support across the entire lifecycle of what private equity firms experience to address key issues and fulfil strategic goals.
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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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Report
A capital model for the aged care sector
The Aged Care Taskforce (ACTF) is evaluating aged care funding mechanisms. In response to this review, Grant Thornton, in collaboration with banks, Private Equity firms and a small group of providers, prepared this report for the ACTF to describe the aged care sector in terms of its capital needs and suggests ways to make it an attractive investment sector compared to other industries.
4 min read
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26 Oct 2023
Our insolvency teams takes a proactive approach so our clients have access to more business turnaround options and retain the most value for all stakeholders.
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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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Podcast
The 2023 outlook: Insolvencies and distressed M&A
We’ve made it to the other side of COVID-19, but what does this mean for businesses feeling significant headwind on the horizon post-pandemic?
18 min read
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30 Mar 2023
We help clients identify and undertake restructuring and turnaround initiatives to preserve profitability and protect and recover value.
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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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Insight
A treasure hunt: the process of tracing assets
Asset tracing is a process whereby forensic accountants and investigators ‘follow the money’ by locating assets of value to an individual or company that have been misappropriated.
Asset tracing is usually undertaken for the purposes of recovery, often as part of formal insolvency processes or in support of ongoing litigation or fraud investigations. It involves a complex analysis to identify assets and the flow of funds, requiring a combined skillset of forensic accounting, investigation and technology. Engaging forensic accountants specialising in asset tracing can make a substantial difference in what misappropriated assets are recovered and exactly how much.
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2 min read
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04 Oct 2022
We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...
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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.
Our consulting team supports its clients with hands-on and proactive advice on all aspects of their strategies for sustainable growth.
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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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Report
A capital model for the aged care sector
The Aged Care Taskforce (ACTF) is evaluating aged care funding mechanisms. In response to this review, Grant Thornton, in collaboration with banks, Private Equity firms and a small group of providers, prepared this report for the ACTF to describe the aged care sector in terms of its capital needs and suggests ways to make it an attractive investment sector compared to other industries.
4 min read
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26 Oct 2023
We take a full view of Indigenous-specific requirements and optimisation opportunities available to businesses.
The growth gateway
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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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Client Alert
New privacy laws - tougher penalties and more enforcement
The Australian Federal Government has passed major changes to the Privacy Act 1988 (Cth) in the form of the Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022. These changes signal a call to action for organisations to review their privacy, security, and information handling practices.
3 min read
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08 Dec 2022
Supporting the growth of ‘Australian Made’ in today’s markets
Related insights:
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Client alert GST and food: The Federal Court have challenged the concept of a prepared meal The Federal Court has recently ruled in Simplot Australia Pty Ltd v Commissioner of Taxation [2023] FCA 1115 that certain frozen food products are not GST-free on the basis they are prepared meals, which is a decision that may have huge ramifications for the industry.![Anika Reside]()
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7 min read | 09 Oct 2023 -
Client Alert Grants in focus: Queensland The Queensland Government offers a range of grant funding opportunities for investment-ready projects based in the state.![Simone Barker]()
| 8 min read | 14 Sep 2023 -
Dealtracker Agribusiness, Food & Beverage Dealtracker 2023 Over the past 18 months, we have seen a consistent level of deal activity despite significant headwinds which have impacted the Agribusiness, Food & Beverage (Ag, F&B) sector and the broader economy. Through our analysis of 1,466 global transactions for the Ag, F&B sector in the 18-month period to December 2022, transaction multiples have remained strong – a pleasing result for businesses undertaking divestment activity.![Cameron Bacon]()
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3 min read | 04 May 2023 -
Insight Government plans to grow the agribusiness, food and beverage sector in 2023 Australia’s agribusiness, food and beverage industry has faced major challenges in the past few years, including supply chain issues and staff shortages caused by COVID-19 and the disruption to migration. While the industry has been resilient, these issues continue to remain – but there’s a glimmer of hope through the investment and initiatives by both Federal and State Governments. So how can you leverage incentives and create operational efficiencies to set your business up most effectively in 2023?![Mauri Mucciacciaro]()
| 4 min read | 12 Jan 2023
From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...
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Renewable Energy
Transformation through energy transition
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Insight
Implications of the US tax credit proposal on Australia’s electric vehicle industry
The US has introduced a proposal into the US electric vehicle market – one which will likely have global ramifications. With Australia's rich mineral resources, this change creates an opportunity to invest in domestic processing, create jobs, and position Australia as a global leader in critical minerals.
3 min read
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17 Nov 2023
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On track for innovation and growth
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Supporting social impact organisations to deliver for communities
Setting Australia’s knowledge powerhouse up for success
Supporting the sector to respond to economic and social shifts
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Business Planning and Strategy
Having an honest, broad-reaching and thought-provoking discussion with a skilled, independent advisor can be the catalyst for clarity – a direction to take your business forward and an understanding of what is key to success.
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Insight
Year-end considerations for growing Fintechs
With growing business appetite for innovative financial technology and on-demand finance in recent years, Fintechs have been embraced by businesses and consumers alike. Fintechs now have the opportunity to drive change, expand into other industries – and sometimes even scale up and expand into new markets. As we near business planning season and end of financial year, have you considered how R&D Incentives, tax considerations and a governance structure can support your sustainable growth?
6 min read
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07 Jun 2023
We do things differently. Our people have the freedom to drive change and shape their own destinies. We share ideas as well as the responsibility for making...
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Financial Services Positioning Paper
A case for proportionate regulation
20 Aug 2018The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The long-term outcome of all of this activity is still relatively unknown, but it is highly anticipated to result in an increase in regulation across the Australian financial services industry – an industry whose already high levels of regulation helped Australia weather the storm of the GFC.
This paper highlights the need to revisit the case for proportionate regulation across the financial sector, with consideration to all changes including prudential, conduct, industry, data and competition requirements.
The paper looks into:
The knock on effect of regulation
The costs of doing business and the proportionality of fixed costs
The value of giving back to the community
The impact of competition on innovation and the need for consumer choice
How proportionate regulation has been implemented in other jurisdictions
The need to tailor regulation to the size, complexity and risk profile of an institution
See the Customer Owned Banking Association’s (COBA) commentary on the report here.
Click here to read the second report, A Case for Proportionate Regulation: the cost of compliance.
“The Royal Commission will have implications for how risk to the consumer is minimised in the banking sector – most likely through regulation and additional resources. However, the level of risk isn’t the same across the sector, nor are the resources to carry the burden of additional regulation and requirements. The risk is disproportionate, and the regulation to safeguard consumers should be proportionate to reflect this.”
Darren Scammell – Head of Financial Services, Victoria
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