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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.
Ed Nusbaum on what European reforms mean for businesses and their advisers
You may well have seen the news last week that the European Parliament approved a package of accounting reforms relating to the relationship between Public Interest Entities (PIE) and their auditors operating within the European Union. The headlines include expansion of the auditors’ report, a cap on the level of non-audit services that a PIE can obtain from its auditor, the removal of so-called ‘Big-4 clauses’ which exclude other firms from the tendering process, auditor rotation at 10 years (although this can be extended in certain circumstances) and mandatory communications with the audit committee.
We have been calling for action on accounting reform and welcome the agreement, but I want to be clear as to why.
I will not deny that the proposals may help our business to grow by breaking down the institutional prejudice against challenger firms such as Grant Thornton. But the principal point is that investors want to see changes in auditor-company relationships. As auditors, we should embrace these changes.
Importantly, the EU reforms target investor desire for an informative audit report, and their concerns about long auditor tenures and volume of other services provided by a company’s auditor. You only have to look at the reaction to the FTSE250 firm Interserve recently awarding their audit contract to our UK firm to see the depth of desire among investors for more competition in the audit market. Discussions in the EU, the UK, the Netherlands, India and elsewhere have raised the profile of these concerns, and now enshrining these changes in law ensures that change will be permanent.
The impact on the market for tax and advisory services is potentially even more significant as the reforms cap the level of work an auditor’s firm can provide to its client (at 70% of the audit fee). Of course, much of this work is already done outside the Big-4; we do tax and advisory work for some of the largest banks and commercial companies in the world and our UK firm currently delivers services for 40 of the FTSE100. But the overriding tendency for PIEs to engage their auditors for these services will now have to change. Indeed, our sense is that the current environment is already encouraging more large companies to use a wider range of accounting firms.
There are certain administrative processes which now need to be completed in Brussels before we learn of the precise effective date of the law, but we expect it to come into effect in mid-July 2016. The challenge for firms like ours in the meantime is to demonstrate to PIEs across Europe that we have the capability and capacity – as well as the hunger – to handle large, complex assignments; to provide a real choice to businesses across the region. The ten investors who recently wrote to the Financial Times applauding the Interserve decision pointed out that we have a “torchbearer’s responsibility” and I would agree; we are worthy of more large appointments and need to prove that by continuing to deliver the high quality work that shareholders demand.
I am confident we can do this but would reiterate the point that the purpose of the reforms is to improve choice, competition and transparency. Putting tax, advisory and audit work out for tender is sound governance. There is no guarantee we will win any of these contracts, but a level playing field can only be good for business and for society.
Ed Nusbaum is global CEO at Grant Thornton