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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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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.
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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.
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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.
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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.
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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.
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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 & Cyber Security
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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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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International Engagement Management
As a member of the global Grant Thornton network, we support and manage international projects for our clients. Our team includes multilingual experts who have many years of experience in international assignments and enquiries and can support you in your international projects.
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Turkish Desk
An Austrian-Turkish multidisciplinary team accompanies you in development projects and transactions. We bundle comprehensive expertise for Turkish companies that want to venture into the Austrian market as well as for Austrian companies that want to position themselves in Turkey.
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French Desk
An Austrian-French team accompanies you in development projects and transactions. We bundle comprehensive expertise for French companies that want to venture into the Austrian market as well as for Austrian companies that want to position themselves in France.
It 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.