Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
Stay ahead with exclusive insights designed for established entities navigating the complexities of the AML/CTF regime. Our expert-driven content covers regulatory updates, best practices, and actionable strategies to enhance your compliance framework.
Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
Our M&A team works with clients to achieve a full or partial sale of their business, to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.
Our insolvency teams takes a proactive approach so our clients have access to more business turnaround options and retain the most value for all stakeholders.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.
Having a considered and informed ESG response has never been more important for all organisations as we are seeing awareness of the elements of ESG continue to...
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.
As the demand for organisations to prepare information in relation to ESG & sustainability continues to increase, through changes in regulatory requirements or stakeholder expectations, there is a growing need for assurance over the information prepared.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
The following Australian Standards on Sustainability Assurance (ASSA) and the Relevant Ethical Requirements were approved by the Auditing and Assurance Standards Board (AUASB) on 28 January 2025.
Money and finances can often be a sensitive and discreet topic in families, but what about families that own and operate a family business? Discussions about money can often begin around the dinner table, with even very young children receiving pocket money in exchange for chores.
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Treasury is taking steps to ensure fairer tax treatment for foreign resident investors by tightening Australia's foreign resident Capital Gains Tax (CGT) regime. Proposed changes aim to broaden the CGT base and enhance integrity, impacting infrastructure, energy, agriculture, and more.
If government grants are part of your 2025 strategy, take note of the available quarter one funding opportunities. With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.
Treasury is taking steps to ensure fairer tax treatment for foreign resident investors by tightening Australia's foreign resident Capital Gains Tax (CGT) regime. Proposed changes aim to broaden the CGT base and enhance integrity, impacting infrastructure, energy, agriculture, and more.
From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...
The Australian Parliament recently passed legislation to introduce two significant tax incentives aimed at bolstering Australia’s critical minerals and hydrogen production sectors.
The incentives form a significant part of the Government’s ’Future Made in Australia‘ policy.
At Grant Thornton we do things differently because we understand that when you strive for better and care about what you do remarkable things are possible.
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
At Grant Thornton, we strive to create a culture of continuous learning and growth. Throughout every stage of your career, you’ll to be encouraged and supported to seize opportunities and reach your full potential.
To be able to reach your remarkable, we understand that you need to feel connected and respected as your authentic self – so we listen and strive for deeper understanding of what belonging means.
We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society by creating lasting benefits that empower others to thrive.
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
APRA has proposed eight key reforms to strengthen governance, risk management, and compliance processes for banks, insurers, and superannuation trustees.
The reforms include stricter requirements for board skills, fitness and propriety, conflicts management, independence, performance reviews, role clarity, board committees, and director tenure.
Businesses must reassess their governance structures and compliance processes to align with APRA's enhanced standards, with finalised standards expected in 2026 and implementation from 2028.
The Australian Prudential Regulation Authority (APRA) has released a governance review discussion paper announcing eight proposed updates to its governance, and fit and proper requirements for banks, insurers, and superannuation trustees.
These reforms are designed to strengthen leadership, improve risk management, and streamline compliance processes. In response, businesses operating in these sectors will need to proactively adapt their governance practices to align with APRA's enhanced standards.
The scope and application of the proposals varies based on whether a regulated entity is classified as a significant financial institution (SFI) or a non-significant financial institution (non-SFI), impacting the level of compliance and oversight required.
Now’s the time to assess your governance structures and make relevant adjustments to meet APRA's evolving expectations.
Key proposals for enhanced governance standards
APRA has proposed eight key reforms aimed at improving governance standards, focusing on areas that have historically been challenging for regulated entities:
Boards must ensure they have the right mix of skills and experience to support the entity’s strategy and manage risks effectively.
Minimum standards for responsible persons will be raised, requiring organisations to engage more rigorously with APRA on succession planning and key appointments.
Existing requirements for managing conflicts of interest in superannuation will be extended to banks and insurers, creating a cross-industry set of conflict management requirements across all regulated entities. The framework will enhance transparency and accountability by requiring a conflicts management policy and public disclosure of registers of duties and interests.
Stricter independence requirements will be implemented for Boards, particularly those in corporate groups, to mitigate potential conflicts. APRA - subject to a reasonable transition period - proposes to extend the majority of independent directors’ requirement to subsidiaries of parent entities regulated by APRA.
Regular assessments of Board performance will be conducted to identify areas for improvement and ensure effective governance, primarily requiring a triennial independent review for SFIs. The proposed amendments also recognise the cost of performing an independent board performance review for non-SFIs, and therefore only expects non-SFIs to strengthen the rigour and quality of the internal annual performance reviews.
APRA will clarify expectations around the roles of boards, chairs, and senior management to reinforce accountability and improve decision-making processes.
The proposed amendment on Board committees emphasises the principle of proportionality. APRA suggests extending the requirement for separate risk and audit committees to registrable superannuation entities (RSEs) classified as SFIs, while removing this requirement for APRA-regulated entities classified as non-SFIs.
A new 10-year tenure limit for non-executive directors will promote board renewal and diversity of thought within leadership teams, subject to a possibility of a two-year extension at APRA’s discretion.
What this means for your business
These reforms will require APRA-regulated businesses to reassess their governance frameworks and compliance processes. For many organisations, this means taking a closer look at board composition, succession planning, and overall governance effectiveness to prevent issues.
While entities with established governance frameworks may experience fewer disruptions, those with longer director tenures, lack of board performance assessments, or a focus on compliance rather than risk management will need to make significant adjustments. All businesses, regardless of size, should prepare for increased scrutiny on governance practices.
The proposed changes regarding director tenure and independence could also lead to higher turnover, requiring succession planning and management to reduce potential disruptions.
Next steps
APRA has opened a three-month consultation period for industry feedback, with finalised standards expected in 2026 and implementation from 2028. Now is the time for boards and executive teams to review their governance arrangements against the APRA review materials, and identify areas for improvement.
To discuss how these changes may affect your business and what proactive steps you can take, please get in touch.
Learn more about how our Financial Services services can help you
Australia's financial landscape is evolving with the phase-out of cheques and BECS payment systems. This mean your business will need to navigate changes to payment processes and manage evolving compliance requirements, as we transition to real-time, instant payments in Australia.
To position your business for resilience and success as we approach a new financial year, it’s important to consider key trends impacting the banking sector to help you navigate the evolving regulatory and risk landscape.
The new prudential standards for the private health insurance industry which commenced on 1 July 2023 have significantly changed how capital adequacy is determined for insurers and have been implemented to improve alignment with APRA’s insurance capital framework, consistent with international best practice.
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