Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
Our experienced Corporate Finance team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
Our Digital Risk team offer advisory and consulting solutions that give our clients peace of mind, clear value for money and an enhanced ability to react to cyber attacks.
Our Digital Transformation team work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
Forensic and Investigation Services
Our Forensic and Investigation Services team have targeted solutions to solve difficult challenges - making the difference between finding the truth or being left in the dark.
Objectives and Key Results (OKRs)
Objectives and Key Results (OKRs) is a goal setting framework that helps teams, individuals and organisations set and track measurable goals.
People and Change Consulting
Our People & Change Consulting team help clients adapt to the changing nature of the workforce - how they attract, retain, engage, develop, deploy and lead their people.
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
Our outsourced payroll teams become your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
Grant Thornton's reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
Audit and Accounting Advisory
Our Audit and Accounting Advisory team takes the headache out of multi-jurisdictional audit compliance requirements as well as technical compliance with accounting standards and legislation for clients.
Business Process Outsourcing
Grant Thornton’s Business Process Outsourcing (BPO) team serves the needs of rapidly growing mid-tier multinationals operating out of Ireland and other hubs through the provision of services across the full range of finance functions.
Flexible People Solutions
At Grant Thornton, our Financial Accounting and Advisory Services (FAAS) department have a dedicated team that help finance functions maximise efficiency.
Global Compliance & Reporting Solutions
Our Global Compliance & Reporting Solutions service offering covers a full suite of compliance services including financial statement preparation and related filings, dual bookkeeping, direct and indirect tax, statistical returns and payroll.
Global Payroll Solutions
At Grant Thornton, we meet the challenges of our clients. Our Global payroll compliance service offering is tailored to meet all your payroll requirements through a single point of contact.
Grant Thornton Financial Counselling
Grant Thornton Financial Counselling (GTFC) comprises a team of highly qualified professionals who offer financial advice to individuals and corporates across a range of areas including savings, investments, pension planning, and inheritance and succession planning.
Our services on Inheritance Planning mirror those on Succession Planning whereby the foundations of the plan are derived from meaningful conversations with those that wish to pass on or protect their asset base.
Personal Tax Compliance & Planning
The Grant Thornton Personal Tax team helps clients remain compliant and up to date with all of their tax obligations whilst ensuring that they are solutions driven and manage their finances in the most tax efficient way possible.
We have extensive experience guiding our clients successfully through the succession process. This involves advice on both the qualitative and quantitative aspects of the process. While there is a business at the core of each succession plan we advise on, it is all predicated on understanding the people and their respective wishes.
Grant Thornton’s Company Secretarial team contains qualified Company Secretaries. Clients are assured that they will meet all of their obligations under the Companies Acts and other relevant legislation and regulations.
Our Corporation Tax team is made up of more than 40 highly experienced senior partners and directors who work directly with a wide range of domestic, international, and financial services clients. We place a strong emphasis on direct service to clients and we pride ourselves on the close personal relationships we build and the deep understanding of their businesses we develop
Attracting and retaining key talent, managing employment costs and ensuring compliance with complex tax rules presents one of the most serious challenges today for many businesses. You need to ensure that your business complies with increasingly complex tax legislation and can adapt to updated Revenue guidance in a cost-effective way and we are here to help.
Financial Services Tax
The Grant Thornton team is made up of experts who are fully up to date in terms of changing and evolving tax legislation. This is combined with industry expertise and an in-depth knowledge of the evolving financial services regulatory landscape.
Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
We develop close relationships with clients in order to gain a deep understanding of their businesses to ensure they make the right operational decisions. The wrong decision on how a company sells into a new market or establishes a new subsidiary can have major tax implications.
The Grant Thornton Tax Advisory team blends commercial experience and knowledge with tax expertise to advise clients on the full range of transactions including sales, mergers, restructurings and succession planning.
Our Tax Incentives team help clients access vital cash funding and tax incentives to enable them to achieve their growth ambition.
Grant Thornton’s team of indirect tax specialists helps a range of clients across a variety of sectors including pharmaceuticals, financial services, construction and property and food to navigate these complexities.
Real Estate Tax Advisory
The Irish real estate market has experienced considerable change in recent years. This has resulted in the emergence of a number of challenges for investors, but has also brought about significant opportunities. With this in mind, taxation is now more than ever one of the key factors for real estate investors when appraising investments, financing methods and development structuring.
The current NFRD regime
The Non-Financial Reporting Directive (Directive 2014/95/EU) (‘NFRD’) is currently in place, and is the forerunner to the proposed Corporate Sustainability Reporting Directive. It was adopted in 2014 with the aim of encouraging companies to disclose information related to environmental, social and governance considerations. Subsequent guidelines were published in 2017 and 2019, including information on climate related disclosures. Compliant entities, i.e. those who adopted the reporting requirements laid out in the NFRD, were required to report in accordance with the NFRD provisions for the first time in 2018.
The NFRD applies to large EU “public interest” entities (i.e. listed companies, banks/credit institutions, insurance companies and other entities designated by Member States). Under the NFRD, to qualify as ‘large’ entities must have the following:
Under the NFRD, companies are required to report on the following two aspects, which are often known as the “double materiality” principle of non-financial reporting.
The NFRD applies on a “comply or explain” basis, which gives companies the ability to not adopt the policies and not carry out the due-diligence laid out in the NFRD directive. The “comply or explain” system ensures that if a company does not apply a policy, it will be disclosed publically.
The Corporate Sustainability Reporting Directive Proposal
The European Commission’s proposal for a Corporate Sustainable Reporting Directive (CSRD) (2021/0104) was published on April 21st 2021, as part of an updated sustainable finance strategy. The CSRD is set to entirely replace the NFRD, and amend the provisions of the Accounting Directive, the “Transparency Directive” (2004/109/EC), and the “Audit Directive” and “Audit Regulation” (2006/43/EC and 537/2014). Around 50,000 undertakings will be covered under the CSRD (compared to the 11,700 that are now subject to the NFRD).
Stakeholder concerns regarding information published by in-scope companies (i.e. ‘large’ public interest entities who opted to adopt the NFRD policies), as highlighted in the NFRD consultation paper, are addressed in the CSRD. It is viewed as the first step in bringing sustainable reporting on par with financial reporting over time. As part of the CSRD, more than 50,000 EU entities will be required to publish “sustainable information” as part of their annual reports.
The CSRD proposal has been submitted to the European Parliament and Council. Once approved and adopted by the European Parliament and the Council, Member States will be required to implement the provisions of the CSRD by December 1, 2022. The CSRD’s sustainability reporting obligations will apply to companies’ annual reports for the financial years starting on/after January 1, 2023.
- The CSRD will not apply the concept of “public interest” entities. Instead, the new provisions will apply to:
- An entity will be considered “large” if it exceeds at least two of the following on its balance sheet:
- The “sustainability information” that will be required to be disclosed will concern at a minimum the following four items from a “double materiality” perspective:
CSRD Reporting Standards
While preparing the CSRD proposal, the Commission considered the recommendations established by the European Financial Reporting Advisory Group (EFRAG) to investigate the possibility of developing EU-wide sustainability reporting standards. Following publication of the proposal, this same group will now develop a set of European Sustainability Standards (ESS) against which in scope companies and institutions would report.
CSRD Audit Requirements
Under the NFRD no audit is required with respect to the contents of the sustainability-related information submitted by companies nor the methodology used to evaluate sustainability risks and sustainability impacts. The NFRD offers an option to participating in-scope firms to seek independent verification by an assurance services provider, but is not required to be a full-service audit firm.
The CSRD is set to introduce a more complete approach to audit or assurance requirements on non-financial statements. There will be an obligation on the auditor or audit firm to express an opinion about the compliance of the sustainability reporting with Union requirements based on a limited assurance engagement. This opinion must cover the compliance of the sustainability reporting with regard to standards and the methodology used by the reporting entity to identify the information.
Securing audit quality, independence and competence shall be a key priority when carrying-out the statutory audit and the assurance of sustainability reporting.
CSRD Publication and Submissions
The CSRD requires that all information is published as part of companies’ management reports, and disclosed in a digital, machine-readable format. This compares to the NFRD, where companies were permitted to disclose sustainability information in a separate document.
Compliant in-scope company’s administrative, management and supervisory bodies will have collective responsibility for ensuring the sustainability information reported is in line with the requirements set out in the CSRD.
How Companies Can Prepare
While the first draft of European sustainability reporting standards are not expected to be published until June 2022, the statement of cooperation between EFRAG and the Global Reporting Initiative (GRI) highlights the influential role existing voluntary standards and frameworks (including TCFD) will have in shaping their development. By reviewing and developing processes to report against key voluntary initiatives now, companies will be in a better position to comply with CSRD requirements as they become live.
Why Grant Thornton
Grant Thornton’s Financial Services Risk, Consulting and Advisory teams are comprised of dedicated experts who are experienced in supporting companies with these regulatory challenges outlined in the Corporate Sustainability Reporting Directive.
In particular, our industry-leading Prudential Risk team understands that regulation continues to drive the strategic agenda for financial and non-financial institutions Working together with our sustainability specialists, we believe our skillsets combine the best of scientific knowledge with real world experience to deliver practical, actionable solutions. We specialise in assisting clients across the financial services sector in navigating through the maze of regulation and support clients to identify regulatory obligations and work towards full compliance balanced with your business needs.