-
Audit of annual and consolidated financial statements
Objectivity, expertise and experience are crucial when it comes to assurance services. And above all developing a strong working relationship with our clients is the foundation of our service approach.
-
Assurance related advisory services
Assurance related advisory services are based on the knowledge and expertise that are the staff of life of our auditors.
-
Global audit technology
We apply our global audit methodology through an integrated set of software Tools.
-
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.
-
Corporate Taxes
Experts at Grant Thornton Unitreu have many years of experience and provide the full spectrum of tax services. They are familiar with the specifics of the Austrian market in all aspects of tax and economic law. Tax consultants at Grant Thornton Unitreu take pride in developing and concluding effective and individual solutions.s.
-
International Tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
-
Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
-
Value Added Tax (VAT)
Experts at Grant Thornton Unitreu have many years of experience and provide the full spectrum of tax services. They are familiar with the specifics of the Austrian market in all aspects of tax and economic law. Tax consultants at Grant Thornton Unitreu take pride in developing and concluding effective and individual solutions.s.
-
Private Wealth
Our experienced Private Wealth Team distinguishes itself through its long-term and trustworthy advice to private clients, owner-managed companies and private foundations.
-
Real Estate Consulting
Real estate, buy-side tax due diligence when purchasing real estate by (i) acquiring shares in real estate companies (share deal) or by (ii) purchasing real estate directly (asset deal)
-
Global Mobility Services
Assignment management is a task with many aspects and many contact persons. For successful expatriate management you need not only a local tax consultant, but a network, which successfully cooperates across borders. Grant Thornton has member companies in more than 130 countries with Global Mobility experts who regularly exchange information.
-
Bookkeeping & Financial accounting
Financial accounting is the basis for many decisions in the company. Only those who prepare their figures clearly and get a good overview of their company can recognize weak points in time and react to negative developments. The use of state-of-the-art software (BMD) allows you to access your figures at any time. Digital document management and a document management system for data archiving are a matter of course. We take care of your financial accounting.
-
Preparation of annual & consolidated financial statements
Depending on the size of your company and the legal form chosen, you are obliged to prepare annual financial statements. In addition, shareholders, owners and management want to be provided with financial information on a regular basis. We support you in fulfilling your recording obligations and thus ensure that you present companies, the bank and other addressees with meaningful and reliable figures.
-
Payroll Services
Payroll services are among the subject areas that are changing rapidly and constantly gaining in complexity. This is where tax law, social security law, labour law, residence law and other legal matters come together. Our experts will help your team to stay up-to-date and solve complex issues. But we are also happy to take care of your entire payroll accounting.
-
Tax Compliance
Tax authorities keep entrepreneurs and freelancers constantly engaged with tax issues, so they play a central role in almost every business decision. Depending on your needs, our services range from the preparation of tax returns, the execution of tax calculations with a thorough review of the data as a basis for assessment, to international tax compliance for several countries.
-
Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is a software-based technology that mimics a series of activities within and between systems based on a set of instructions typically to complete a process.
-
Valuation
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
-
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.
-
Merger & Acquisition
M&A, Merger & Acquisition
-
Restructuring & Going Concern Forecast
Recovery & Reorganization
-
IT Audit
Increasing networking and digitalisation are bringing about far-reaching changes in the business world. Modern accounting is no longer conceivable without complex IT systems. At the same time, however, this also increases the risks for companies, especially when handling data. Confidentiality, availability and integrity of data are central security requirements that must also be met with regard to the correctness of IT-supported accounting. Our IT auditors are experts in operational IT operations and develop targeted measures for you to counteract risks and to check the security and reliability of your IT systems.
-
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.
-
Special Attestation
At present, practically all types of IT services can be outsourced to service providers. Advancing technological developments, especially the possibilities for virtualizing server systems, are a major driver for companies to increasingly outsource IT services. Frequently, nested outsourcing structures can also be found in which service companies outsource certain IT services to subcontractors.
-
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.
-
Crisis Management
Crisis Management
-
Blockchain & Crypto-Assets
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.
-
Corporate & Brand Strategy
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.
The new normal: how COVID-19 has impacted retail
24 Sep 2020It is safe to assume that for the majority of retail businesses, 2020 has offered some unique challenges. Lockdowns resulting from the COVID-19 pandemic have affected parts of the retail industry differently, with some owners having to close temporarily and some thriving in the new environment.
With people living in lockdown and working from home, the first half of 2020 saw a virtual halt to all non-essential trading. Unlike industries such as aviation and hospitality which have seen a fairly uniform drop in revenue, retail’s fortunes have been decidedly more mixed. While many discretionary stores have been forced to shut their doors, the grocery sector has seen unpredictable spikes in demand and an increased preference among consumers for delivery services. What is certain though, is that nearly every retail business has been affected in some way, and that the global landscape may remain challenging for some time.
A major theme throughout the crisis has been the need for retail businesses to preserve cash and attempt to increase liquidity. All over the world governments have implemented measures allowing businesses to temporarily reduce their operating costs, particularly staff salaries and tax payments. However, these measures will not go on forever. Those retailers with an established online presence have been better able to weather the storm, but with lower profitability per individual sale this may not be a feasible strategy for many businesses.
It is common for retailers to carry little cash and have high-fixed costs, which is not a problem in times of regular consumer levels. The pandemic has created a serious strategic imperative to address cost management, with lease, infrastructure and physical footprint emerging as key areas of focus. But stock, property and labour are likely to remain the three largest costs, especially when employee furlough schemes end. Apparel retailers in particular could be sitting on large amounts of unsold seasonal stock, and subsequently, we are already seeing heavily discounted prices among some businesses.
While many landlords and banks are granting payment holidays, there is still a lot of uncertainty about how long many businesses can operate if demand remains low. Any appetite among lenders to reschedule debt payments will depend on what shape they think the business in question is likely to emerge from the crisis in. For many, this has meant putting together funding proposals for shareholders and using insolvency tools to restructure quickly.
The disruption caused by the COVID-19 pandemic has most likely given a boost to the shift towards online retail, but that doesn’t mean physical stores will disappear overnight. They will have to adapt quickly though, particularly with regards to social distancing and increased cleaning. Most of all, retailers need to make sure their businesses are as resilient and flexible as possible, and reducing physical footprints, growing online, creating a multichannel presence and restructuring are all likely to be important strategies.
The pandemic has provided further demonstration that retailers across the globe need to focus on creating a core group of loyal customers. This is always going to be the best way of dealing with disruption, and we can help you protect your business and restore value.
Our experienced experts support your trading company in these challenging times. If you would like to discuss any of the topics raised, please contact our experts Andrew Dickson and Michael Koehler.
