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Business Consulting
Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
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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.
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Corporate Finance
Our experienced Corporate Finance team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
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Digital Risk
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.
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Digital Transformation
Our Digital Transformation team work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Forensic Accounting
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.
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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.
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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.
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Restructuring
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
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Outsourced Payroll
Our outsourced payroll teams become your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
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Outsourcing
Grant Thornton's reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
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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.
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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.
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Flexible People Solutions
At Grant Thornton, our Financial Accounting and Advisory Services (FAAS) department have a dedicated team that help finance functions maximise efficiency.
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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.
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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.
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Actuarial
Our Actuarial team provides a comprehensive range of services to our insurance clients. From regulatory support for compliance to delivering specialist expertise in insurance & reinsurance.
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Data Analytics
Our team helps to unlock the potential of data analytics within your organisation, allowing you to be more innovative, efficient and customer-centric than ever before.
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Digital and Fintech
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Digital Risk
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Financial Services Audit
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Financial Services Consulting
We work closely with clients to understand their strategy and benchmark their performance against the very best international standards.
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Financial Services Tax
Grant Thornton Ireland has a team of over 100 tax professionals providing advice to a diverse range of clients in the Financial Services sector.
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FS Business Risk Services
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Grant Thornton Pensioneer Trustees Limited
The Grant Thornton Pensioneer Trustee service can offer business owners, directors and employees the opportunity to manage their own retirement choices with full transparency.
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Prudential Risk
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Quantitative Risk
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Sustainability desk
We recognise that businesses are operating at different levels of maturity when it comes to sustainability, and pride ourselves on working with our clients to develop bespoke solutions to their needs.
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Financial Accounting and Advisory Services (FAAS)
Our Financial Accounting and Advisory Services (FAAS) team designs and implements creative solutions for organisations expanding into new markets or undertaking functional financial transformations.
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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.
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Inheritance 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.
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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.
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Succession Planning
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.
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Company Secretarial
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Corporation Tax
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Employer Solutions
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.
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Financial Services Tax
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Global Mobility Services
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International Tax
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.
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Tax Advisory
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Tax Incentives
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Transfer Pricing
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VAT
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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.
Introduction
While 2021 has seen a sharp and increasing global focus on climate change, the wider topic of sustainability and the integration of sustainability-related risks is also high on the regulatory agenda for banks and insurers. Environmental, Social and Governance (ESG) considerations are both all-encompassing and a permanent part of financial services activities, transformation, and risk management.
Key sustainability risks relate to the structural change risks that are necessary to ensure a move from a carbon-intensive environment to zero net emissions one, known as ‘transition risk’, and risks associated with changing weather patterns, known as ‘physical risks’.
To supplement the regulatory agenda on climate change, the Bank of England’s (“BoE”) Biennial Exploratory Scenario (“BES”) exercise in 2021 aims to explore the resilience of the largest UK banks and insurers to the physical and transition risks associated with climate change, as part of a Climate BES (“CBES”).
The CBES will be a learning exercise in nature, in order to size financial exposures of UK institutions to climate-related risks, understand the challenges from these risks to business models, and to help enhance the management of these climate-related risks. It is worth noting that results from the exercise may duly inform the future approach to system-wide policy issues, and the Prudential Regulation Authority’s (“PRA”) future supervisory approach, however they will not be used by the BoE to set capital requirements.
Regulators, international bodies and other policy-makers have continued to launch, publish and prepare a raft of guidance, requirements and expectations for financial services providers. The UK’s BoE is often seen as an early adopter or driver of new policy. As such the latest publications are a reasonable expectation of what policy makers are thinking and may follow in other jurisdictions, such as the EU.
What’s involved?
The CBES will examine participants’ vulnerabilities to the two key risk areas under three separate scenarios, termed “Early Action”, “Late Action” and “No Additional Action”, linking into varying degrees of speed at which the climate policy will intensify, and will in particular hone in on the adaptability of business models in light of climate change, over the period 2021-2050. The thirty-year horizon is notably longer than a typical stress test, however this is designed to ensure the CBES captures climate change financial risks crystallising over a much longer timeframe than the typical horizon for stress testing.
Participants will be asked to complete a suite of quantitative data templates in addition to a free-text qualitative questionnaire. A static balance sheet principle will be employed for the majority of quantitative projections, which will remove the complexity of forecasting balance sheet changes over a multi-decade horizon. Multiple reporting points are required to test the financial system’s sensitivity to varying levels of stress over a scenario, with a requirement to report projections every five years, i.e. year 0 for actual exposures followed by years 5, 10, 15, 20, 25 and 30.
Before the final results are published in May 2022, the BoE expects to run a second round of the exercise, launching at the end of January 2022 which could focus on exploring potential interactions between participants’ first round responses.
What will be expected of banks and insurers?
For banks, the CBES focuses on the credit risk associated with the banking book, with an emphasis on high-quality analysis of risks to large corporate counterparties. A key metric will be the cumulative total of provisions against credit-impaired loans at various points in the scenarios. Analysis is expected to extend to at least the 100 largest and most material corporate counterparties (where those exposures are greater than £10 million) however, it is strongly encouraged to extend the detailed analysis to more corporate counterparties than the top 100, consistent with expectations set out in Supervisory Statement 3/19 and the Dear CEO letter dated 1 July 2020 which should be embedded by end-2021.
For insurers, the CBES will focus on changes in Invested and Insurance, assuming an instantaneous shock, meaning that the stress brings forward the future climatic environment to today’s balance sheet.
It is expected that internal governance processes around CBES submissions should involve effective challenge from senior management, inclusive of relevant committees and the board of directors, with qualitative questionnaire responses recommended to include details of such governance and quality assurance and a summary of the key issues that were challenged by senior management or relevant committees, and what changes to responses were made following this challenge.
Submissions should also contain a statement as to how institutions have satisfied themselves that the data templates and the responses to the qualitative questionnaire have been completed as accurately as possible and that the appropriate level of quality assurance has been applied.
A key consideration will be that institutions consider the management actions they would take in response to the scenarios, formulating their management actions as if they were observing the scenarios unfold in real time rather than assume with perfect foresight.
Why Grant Thornton?
Grant Thornton’s Financial Services Risk, Consulting and Advisory teams are comprised of dedicated experts who are experienced in supporting banks and investment firms with a variety of regulatory and ESG challenges.
In particular, our industry-leading Prudential Risk team understands that regulation continues to drive the strategic agenda for banks and investment firms. ESG and other sustainability related areas are likely to be high on the regulatory agenda for years to come. They 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.