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
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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
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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
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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
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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
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Digital forensics
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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
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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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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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Our transaction advisory services support our clients to make informed investment decisions through robust financial due diligence.
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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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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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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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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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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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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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We help with all financial reporting needs, including set up, scaling up, spotting issues and improving efficiency.
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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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We help private business leaders efficiently structure their organisation for optimal operation and tax compliance.
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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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Working alongside health, disability & aged care providers in a challenging environment
On track for innovation and growth
Supporting the growth of the innovators, the IP generators and the job creators
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
Our aim is to help you find a better, simpler, more efficient, and more profitable way of doing things to keep your business safe and help you grow.
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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
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Federal Budget
It’s time to remove the great blind spots in our resource sector
Largely left to operate on its own, the resources sector has been a stalwart of the Australian economy. Treasurer Josh Frydenberg in the Economic Update in July said that the mining sector is the shining light of the Australian economy.
Contents
The last 10 years has seen the 2000s resources boom stabilise, and the sector has not been without its controversy, with native title battles, environmental lobbying and workplace health and safety issues to reckon with. Yet the sector continues to trend upwards without a boom to propel it forwards.
The great blind spot is our exports. The Productivity Commission estimated in March this year that Australia exports close to 90% of the commodities it produces. We produce more gas per capita than any other country, yet locally, our gas prices are double that of anywhere else. A better balance between international export and domestic supply is on the horizon.
“Industrial parochialism”: not necessarily a dirty term
It’s clear that the industry has largely funded its own investments. The result has been an allocation of investment to large projects focused on global markets like iron ore, coal, and LNG. To change this focus and increase investment focused on the domestic market requires the Government to make changes to key challenges faced by the resources industry including access to resources, complex regulation and investment incentives. The recently announced National Gas Infrastructure Plan is a welcomed start. There is a clear need to both increase the volume of available gas and decrease its cost. Other opportunities presented by the Government include the $1.3b modern manufacturing initiative and $18b Technology Investment Roadmap, providing opportunities for resource industries like lithium, nickel and copper.
In our report we cover:
- A picture of self-sufficiency
- Are regulations killing commercial viability?
- Are border closures and working under COVID-Safe stifling business?
- Looking inward to secure Australia’s future
- So where to from here?
Looking back to look forward
We were initially writing the ‘Federal Budget: A 10 year retrospective’ report before COVID-19 as an advocacy piece for more industry investment and support. Of course, the way the year started is not the way the year is ending. Many sectors that had been left to their own devices are now key for our recovery. Sovereign capability. Jobs. Digital economy. Modern manufacturing. Renewable future. Deregulation. Innovation. These are the terms we will use as we settle into COVID-normal.
Our report looks retrospectively at 13 different industries, the investment made into them by Government and their contribution to GDP. This is then overlaid with the opportunity we see for industry in this new normal based on recent Government announcements.
Authors
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Brent Steedman Brent joined Grant Thornton as National Energy and Resources Leader and Audit partner in April 2020. Prior to this, he spent over 30 years working at KPMG providing audit and assurance services to a range of public listed and private companies with both international and domestic operations.Follow on LinkedInView Profile