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Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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We can formulate solutions to keep you ahead of disruptive change.
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Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support during transactions, restructuring and disputes.
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Helping you with successful growth deals throughout your business life cycle.
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Workable solutions to maximise your value and deliver sustainable recovery.
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Strategic growth decision making. Globalisation and company growth ambitions are driving an increase in M&A activity worldwide.
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Rapid and customised approach to investigations and dispute resolution.
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Our member firm IFRS advisers can help you navigate the complexity of the Standards so you can focus your time and effort on running your business.
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A key component of our global strategy is to promote the delivery of consistent, high quality client service worldwide.
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We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Growing businesses need strong tax management to meet current and future tax liabilities and we can help you achieve this, whatever challenges you face.
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We have the insight and agility to create the strategies you need to respond quickly to ever-changing tax laws.
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In a globalised world, businesses must work seamlessly across borders. Organisations operate in multiple countries and view international expansion as a strategic objective.
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With more goods and services crossing national borders than ever before, you may be facing indirect tax obligations in many countries – even those where your customer is located.
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Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
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Grant Thornton’s teams can work with you to help you understand these regulations, develop a strategy tailored to your business’ individual tax needs and manage tax risk around the globe.
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As organisations grow, back office processes and meeting reporting requirements across multiple jurisdictions can become a distraction. We remove the burden of back office operations and worries about compliance to enable you to focus on growth.
Proposed Amendments to IFRS 15
02 Jul 2015Our letter is in response to the IASB's Exposure Draft 2015/2 'Effective Date of IFRS 15 – Proposed amendments to IFRS 15'
The IASB proposes to defer the effective date of IFRS 15 by one year so that entities will be required to apply the Standard to annual reporting periods beginning on or after 1 January 2018. Overall, we agree with the proposed amendment.
In our letter, we note that based on the feedback we have received to date, most companies are able to implement the Standard within the original 1 January 2017 deadline. Asking those companies to wait an additional year to implement the changes may result in a loss of momentum that would likely result in an increase in their overall implementation costs. A one-year deferral may also be seen as penalising those who started the implementation process early and rewarding those who may have delayed, as the Board itself has noted.
Notwithstanding these remarks, it is likely that some companies may be struggling to meet the original deadline for any number of reasons. For example, IFRS 15 is likely to have a greater impact outside of the accounting function (eg compensation, contracting, broad policies and systems) than most new standards, and even those entities that have worked hard to prepare for transition would no doubt benefit to some extent from more time. Accordingly, we believe that a one-year deferral will increase the likelihood of a successful transition by all entities.
