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.
It is a challenging time for many; from a cost-of-living crisis and global political uncertainty, to lingering stress post pandemic. Coupled with business control weaknesses or vulnerabilities, these pressures can create the perfect storm for financial crime to occur.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
The ATO has tightened exemption criteria for country-by-country reporting, effective January 1, 2024. Taxpayers will need to submit more information, aligning with the ATO's focus on international tax risks and local file reporting.
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.
In the latest episode of Beyond the Numbers with Grant Thornton, our Brisbane Office Chair and Tax Partner Sian Sinclair and Risk Consulting Partner Jarrod Lean discuss opportunities, challenges, procurement risks and strategies.
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.
On 10 October 2024 the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 (the Bill) was tabled in the Australian Parliament in an effort to overhaul Australia’s mergers and acquisition laws. The bill was passed by both houses of Parliament on 28 November 2024.
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.
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.
Investment and business opportunities in Vietnam are expanding rapidly, driven by new markets, diverse industries, and Vietnam's growing role in export manufacturing, foreign investment, and strong domestic demand.
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.
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.
Following the recent removal of tariffs on Australian wine by China, the industry is keen to rebuild relations and explore the right export markets. This presents Australian wine producers with a chance to reassess their position in the global market.
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...
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.
On 7 November 2024, ASIC released draft regulatory guidance for sustainability reporting (RG 000 Sustainability reporting). The consultation paper and draft regulatory guidance explains ASIC’s proposed interpretation of the sustainability reporting requirements under the Corporations Act 2001 and how they intend to administer and enforce the requirements of the Act as it relates to sustainability reporting.
ASIC has made it clear they expect entities to engage with the new sustainability reporting requirements and take steps to ensure they will be ready to comply with them as they are phased in starting from 1 January 2025.
Comments on the draft regulatory guidance close 19 December 2024, with the final version of the regulatory guidance expected to be issued by ASIC in Q1 2025. For a more detailed analysis of the draft regulatory guidance, please see our recent Sustainability Reporting Alert: SRA 2024-4 ASIC releases draft regulatory guidance for sustainability reporting
Key takeaways from the draft regulatory guidance
The draft regulatory guidance specifically explains that it is important assessments about the extent that a climate- related risk or opportunity may be material to the reporting entity are not confined to the annual reporting season but are considered on an ongoing basis. This is because timely and accurate information about material climate-related risks and opportunities (including any changes) will enable the board to make informed judgements about the extent of foreseeable harm to the interests of the reporting entity, as well as assist the reporting entity to comply with its sustainability reporting obligation.
Up until now, sustainability-related information has been included in corporate reporting under many names. This has historically included “sustainability reports” or “ESG reports”, or subsections as part of the annual report with similar titles. ASIC’s draft regulatory guidance states the sustainability report should be used exclusively for statutory sustainability reports under the Corporations Act. Voluntary sustainability statements or voluntary climate statements should be used when referring to information prepared voluntarily under AASB S1 or AASB S2. Any sustainability-related information using a different sustainability standard or framework (e.g. GRI) should be clearly distinguished from the statutory sustainability report, and the voluntary sustainability-related statements.
The draft regulatory guidance establishes an expectation that all entities, including those that are not currently required to prepare an annual sustainability report, should consider and be informed by the sustainability standards (AASB S1 and AASB S2) when preparing climate-related financial information, and other sustainability-related financial information for users outside the sustainability report. This includes the annual report, prospectuses, PDSs, investor presentations or any other market disclosures directed to investors.
Appendix D of AASB S2 sets out both the fundamental and enhancing qualitative characteristics of useful climate-related financial information. These are: relevance and faithful representation, comparability, verifiability, timeliness, and understandability. The draft regulatory guidance clarifies ASIC’s expectation that all forward-looking information in climate statements must comply with Appendix D. Additionally, any climate-related financial information selectively used or reproduced outside the sustainability report should adhere to the principles of Appendix D of AASB S2.
The draft regulatory guidance makes it clear that ASIC will not necessarily grant sustainability reporting relief merely because an entity has been granted, or has the benefit of, comparable financial reporting relief. Specific reasons that are unlikely to justify relief from sustainability reporting requirements include: being privately owned; closely held by only a small number of members, or has limited known external users; those who need the information that would be set out in a sustainability report already have access to it; or the ordinary costs of complying with an entity’s sustainability reporting obligations constitutes an unreasonable burden.
Grant Thornton has a team of sustainability reporting specialists who understand the intricacies of the reporting requirements. Our team can work closely with you to navigate through the process of getting ready for reporting and provide you with the necessary tools for taking on sustainability reporting independently, including:
climate-related risk and opportunity guidance;
reporting gap identification;
greenhouse gas emissions guidance (including scope 3 emissions);
climate-related scenario analysis guidance;
assurance readiness;
climate reporting support; and
training and education.
Unpacking Australian Sustainability Reporting: What’s really required?
The purpose of this Alert is to draw attention to the Consultation Paper CP 380 Sustainability reporting (consultation paper) and accompanying draft regulatory guide RG 000 Sustainability reporting (draft regulatory guidance) published by the Australian Securities and Investment Commission (ASIC) on 7 November 2024.
Senate has now passed legislation mandating climate-related disclosures and businesses must have an understanding of what the AASB sustainability standards actually require for compliance.
Following recent decisions made at the Australian Accounting Standards Board (AASB) meetings, we now have a very clear sense of what the final Australian Sustainability Reporting Standards (ASRS) will look like.
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