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Audit of annual and consolidated financial statements
We place particular emphasis on customized solutions and international service and adapt our services to your needs.
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Assurance related advisory services
Assurance related advisory services are based on the knowledge and expertise that are the staff of life of our auditors.
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Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Accounting related consulting
Accounting in accordance with UGB, US-GAAP or IFRS is in constant motion. The integration of new regulations into their own accounting systems poses special challenges for companies.
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Corporate Tax
We are your problem solvers for corporate tax issues
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Restructuring, Mergers & Acquisition
Expertise and creativity for the perfect structure
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International Tax
We are here, whenever our clients require our assistance
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Transfer pricing
We are your experts for an optimal transfer pricing structure
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Indirect Tax & Customs
We take care of your indirect taxes so you can take care of your business
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Private Wealth
We are your competent partner in the field of Private Wealth Tax Services
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Real Estate Tax
We are a valuable partner at every stage of your property's life
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Global Mobility Services
Local roots and global networking as a secret for successful assignment management
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Advisor for Advisor
As advisors for advisors, we support in complex situations
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Valuation
Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Forensic Services
When it comes to risks in business, our experts are on hand. We support you not only in suspicious cases or in disputes, but also develop suitable strategies in the area of prevention to avoid serious cases as far as possible. Our Cyber Security team helps you to keep your networks and applications secure and is quickly on hand in the event of a security leak.
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Transaction Support
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Sustainability Services
Sustainability is no longer a trend, but the only way to create a future worth living. Our experts will support you in successfully developing your sustainability strategy and preparing your sustainability reporting in compliance with regulations.
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Merger & Acquisition
Companies start new activities and separate from old ones, cooperate and merge. Markets and competitive conditions are subject to constant and increasingly rapid change. As a result, existing business models are changing. Some companies have to restructure and reorganize. But new business opportunities also open up.
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Restructuring & Going Concern Forecast
Restructuring & Going Concern Forecast: Bundled services for your strategic, operational and financial decisions offer the right answers for companies, banks, shareholders and investors.
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Internal Audit
Internal Audit helps companies and organisations to achieve their goals by analysing and evaluating the effectiveness of risk management, controls and management and monitoring processes. Internal Audit focuses on independent and objective audit (assurance) and consulting services that improve the value creation and business activities of your company.
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Blockchain and Crypto-Asset
Blockchain as a carrier technology for crypto currencies and smart contracts, among other things, is becoming increasingly important. Grant Thornton Austria offers comprehensive audit and confirmation services for block chain technologies and business models.
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Corporate & Brand Strategy
We support you in developing growth strategies for a sustainably successful future and in maximizing the potential of your brand.
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Cyber Security
Cyber incidents, IT system failures, the resulting business interruptions and the loss of critical data are one of the greatest business risks for companies. Recent cases underline the need for strategic protection and awareness of the issue and require a holistic approach and technical expertise that takes into account all legislative, regulatory and technical aspects of cyber security to protect companies against the daily increase in cybercrime incidents.
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International Project Coordination
Our International Engagement Management team is your central point of contact for international projects in all our service lines. We take care of operational project management for you and act as a central point of contact and coordination for your projects. We support companies that start international projects from Austria as well as companies from abroad that want to gain a foothold in Austria or use Austria as a hub for their international projects, especially in the DACH (Germany, Austria and Switzerland) and CEE region.
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International Desks
As a member of the Grant Thornton network, we guarantee direct access to resources from our worldwide circle of partners. This global connection enables us to seamlessly integrate highly qualified specialists and industry experts from different countries around the world into our teams. Through our broad perspective and diverse expertise, we ensure that we can optimally meet the individual requirements of our clients in an increasingly globalised economy.
IFRS 8 requires entities within its scope (including those entities with only one reportable segment) to make certain product and service and geographical disclosures for the entity as a whole rather than by reportable segment. These are referred to as entity-wide disclosures. Entity-wide disclosures are particularly useful when the segment disclosures do not otherwise include total revenues by product, service or revenue stream. This will be the case when different reportable segments sell the same product or service, and when reportable segments are not organised by geographic area. These disclosures are based on amounts incorporated in the consolidated primary financial statements rather than a management basis.
Download the full article for the requirements for entity-wide disclosures.
Exemptions from entity-wide disclosures
Before looking at the disclosures required in more detail, it is worth noting separate disclosure is not required if the information is otherwise provided as part of the reportable segment information.
Additionally, the entity-wide disclosures are not required where the necessary information is not available and the cost to develop it would be excessive. However, because the information is on an entity basis, it is not expected this exemption will be invoked often. Most entities are likely to collect and retain information about their geographical operations and products and services. If the exemption is taken, that fact must be disclosed.
Information about products and services
In addition to revenue-related disclosures required by other standards such as IFRS 15 ‘Revenue from Contracts with Customers’, IFRS 8 requires entities to disclose the revenues from external customers for each product and service or each group of similar products and services. Revenues disclosed should be based on the financial information used to produce the entity’s financial statements.
Information about geographical areas
Entities disclose the following geographical information, based on financial information used to produce the entity’s financial statements:
- Revenues from external customers attributed to:
- the entity’s country of domicile, and
- all foreign countries in total from which the entity derives revenues.
- The basis for attributing revenue from external customers to individual countries (see below).
- Non-current assets (see below), other than financial instruments, deferred tax assets, post employment benefit assets and rights arising under insurance contracts located in:
- the entity’s country of domicile
- all other foreign countries in total in which the entity holds assets.
- If revenues attributable to and/or assets located in an individual foreign country are material those revenues and/or assets should be separately disclosed.
Sub-totals may be given on a voluntary basis for groups of countries.
Basis for attributing revenues to countries
IFRS 8 is not specific as to how revenues are attributed to individual countries, but does require disclosure of the basis for this attribution. Commonly used approaches include using the location of the customer or the country where the sale occurred but may be on any other reasonable basis.
Non-current assets
Non-current assets (as classified in accordance with IAS 1 ‘Presentation of Financial Statements’) identified for the purpose of IFRS 8 disclosure include tangible and intangible assets, but exclude financial instruments, deferred tax assets, post-employment benefit assets and rights arising under insurance contracts. Where an entity classifies assets in its statement of financial position using a liquidity presentation, non-current assets are assets that include amounts expected to be recovered more than 12 months after the reporting date.
IFRS 8 requires disclosure of an entity’s reliance on its major customers. If revenues from transactions with a single external customer amount to 10% or more of an entity’s revenues, the entity should disclose:
- that fact
- the total amount of revenues from each such customer, and
- the identity of the segment or segments that report the revenues.
There is no need to disclose the amount of revenues that each segment reports from that customer or customers or the identity of the customer(s).
For the purpose of this disclosure, a group of entities known by the reporting entity to be under common control should be considered to be a single customer.