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Audit of annual and consolidated financial statements
We place particular emphasis on customized solutions and international service and adapt our services to your needs.
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Assurance related advisory services
Assurance related advisory services are based on the knowledge and expertise that are the staff of life of our auditors.
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Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Accounting related consulting
Accounting in accordance with UGB, US-GAAP or IFRS is in constant motion. The integration of new regulations into their own accounting systems poses special challenges for companies.
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Corporate Tax
We are your problem solvers for corporate tax issues
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Restructuring, Mergers & Acquisition
Expertise and creativity for the perfect structure
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International Tax
We are here, whenever our clients require our assistance
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Transfer pricing
We are your experts for an optimal transfer pricing structure
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Indirect Tax & Customs
We take care of your indirect taxes so you can take care of your business
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Private Wealth
We are your competent partner in the field of Private Wealth Tax Services
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Real Estate Tax
We are a valuable partner at every stage of your property's life
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Global Mobility Services
Local roots and global networking as a secret for successful assignment management
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Advisor for Advisor
As advisors for advisors, we support in complex situations
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Accounting & Tax Compliance Services
Grant Thornton Austria - Your Partner for Experts for Accounting & Tax Compliance Services. In an evolving regulatory landscape, efficient accounting, tax compliance, and financial statement preparation processes are crucial for maintaining an accurate and up-to-date view of your company’s financial position while ensuring compliance with all legal requirements. We provide tailored solutions that not only save your time and resources but also ensure compliance with complex regulations. Our experts are here to support you, allowing you to focus on your core business.
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Payroll & People Advisory Services
Ensuring Compliance, Efficiency, and Strategic HR Solutions In an evolving legal landscape, it is crucial for companies of all sizes to have efficient and legally compliant payroll accounting systems. The ever-changing regulations and increasing complexity make this an ongoing challenge. At Grant Thornton Austria, we provide comprehensive, precise payroll processing as part of our Payroll & People Advisory Services. Additionally, we offer customized advisory services to help clients optimise their HR strategy, improve operational efficiency, and minimize potential risks.
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Tax Controversy Services
Your Partner when it matters most! In increasingly complex environment and considering frequent changes in tax regulations, businesses are facing intensified scrutiny from tax authorities. This has resulted in a significant rise of complex tax audits, investigations and potential disputes. Our Tax Controversy Services are tailored to help you navigate these challenges proactively and effectively. Our experts will guide you through all stages of tax proceedings, ensuring robust defence of your position and advising you on preventive measures to minimize the risk of future tax disputes.
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Tax Technology Services
Your digital partner for an efficient future! In an increasingly digitalised business world, companies must constantly look for optimisations and adjustments to ensure their long-term success. In order to best prepare for the future and to achieve efficiency increases and process optimisations in the digital area, the experts at Grant Thornton Austria are at your side as a reliable partner as part of our Tax Technology Services.
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Valuation
Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Forensic Services
When it comes to risks in business, our experts are on hand. We support you not only in suspicious cases or in disputes, but also develop suitable strategies in the area of prevention to avoid serious cases as far as possible. Our Cyber Security team helps you to keep your networks and applications secure and is quickly on hand in the event of a security leak.
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Cyber Security
Cyber incidents, IT system failures, the resulting business interruptions and the loss of critical data are one of the greatest business risks for companies. Recent cases underline the need for strategic protection and awareness of the issue and require a holistic approach and technical expertise that takes into account all legislative, regulatory and technical aspects of cyber security to protect companies against the daily increase in cybercrime incidents.
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Sustainability Services
Sustainability is no longer a trend, but the only way to create a future worth living. Our experts will support you in successfully developing your sustainability strategy and preparing your sustainability reporting in compliance with regulations.
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Transaction Support
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Merger & Acquisition
Companies start new activities and separate from old ones, cooperate and merge. Markets and competitive conditions are subject to constant and increasingly rapid change. As a result, existing business models are changing. Some companies have to restructure and reorganize. But new business opportunities also open up.
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Restructuring & Going Concern Forecast
Restructuring & Going Concern Forecast: Bundled services for your strategic, operational and financial decisions offer the right answers for companies, banks, shareholders and investors.
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Internal Audit
Internal Audit helps companies and organisations to achieve their goals by analysing and evaluating the effectiveness of risk management, controls and management and monitoring processes. Internal Audit focuses on independent and objective audit (assurance) and consulting services that improve the value creation and business activities of your company.
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Blockchain and Crypto-Asset
Blockchain as a carrier technology for crypto currencies and smart contracts, among other things, is becoming increasingly important. Grant Thornton Austria offers comprehensive audit and confirmation services for block chain technologies and business models.
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Corporate & Brand Strategy
We support you in developing growth strategies for a sustainably successful future and in maximizing the potential of your brand.
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International Project Coordination
Our International Engagement Management team is your central point of contact for international projects in all our service lines. We take care of operational project management for you and act as a central point of contact and coordination for your projects. We support companies that start international projects from Austria as well as companies from abroad that want to gain a foothold in Austria or use Austria as a hub for their international projects, especially in the DACH (Germany, Austria and Switzerland) and CEE region.
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International Desks
As a member of the Grant Thornton network, we guarantee direct access to resources from our worldwide circle of partners. This global connection enables us to seamlessly integrate highly qualified specialists and industry experts from different countries around the world into our teams. Through our broad perspective and diverse expertise, we ensure that we can optimally meet the individual requirements of our clients in an increasingly globalised economy.
Technology played a critical role in mitigating the impact of the virus. Whether helping employees to perform their jobs or providing a platform for fulfiling products and services, technology enabled new ways of doing business. However, looking to the future building resilience through digital transformation requires balancing short-term necessity with realising the long-term opportunity.
Few businesses can be in doubt that technology, digital transformation, and innovation are essential enablers of operational resilience. Now is a critical time to assess how far into the future your current technology programmes can take you.
Indeed, According to Grant Thornton's IBR data, 45.6% of global respondents said they would need to make more use of technology and digital transformation following the COVID crisis. At the same time, 78% of businesses intend to maintain or increase their levels of investment in technology over the next 12 months.
Reassess IT systems for capacity and security
Following rapid adoption of technology in the first phases of the crisis, it now pays to review what measures and systems were put in place and assess whether they are sustainable on a new scale and for new ways of working that allow secure and efficient operations.
Ian Pascoe, CEO and managing partner at Grant Thornton Thailand, says: "A lot of businesses have found their technology to be inadequate. So going back to revisit the basics and of how good your systems are is vital. For example, doing video calls are great, but you've got to make sure it all works and that your bandwidth is adequate."
Consider performing a remote hardware and software audit to ensure that workforces have the necessary tools to perform their jobs over an indefinite period. It’s also vital to stay on top of your IT security and continually assess any vulnerabilities the business might be exposed to through remote working.
Look to automation to execute routine tasks
One aspect of the crisis is the level of pressure staff have come under to fulfil specific routine processes from home while often juggling family commitments.
However, essential tasks still need to be completed and are often time-sensitive. Trevor Dunne, head of technology consulting at Grant Thornton in Belfast says: "This is where automation through robotics can help. Building automations in a few days can offer real value and allow you to remove pressure from staff. Furthermore, Robotic Process Automation (RPA) can deliver consistent service." Outsourcing the implementation of RPA can be a quick and affordable way of achieving productivity gains.
Take time to make the right technology investments
Pre-COVID some businesses may have needed convincing that certain technologies and digital upgrades were necessary, now digital transformation has moved from a desirable aspiration to an essential across the board. But in coming to that conclusion, businesses need to make investment decisions wisely.
Pallavi Bakhru, chartered accountant at Grant Thornton India in New Delhi, says: "When it comes to long-term impact decision, people want to know what is coming down the road. If you put a particular system in place today – such as digitising your entire indirect tax compliance – will it be contemporaneous two years down the line. Will it be compatible with the government's interface?"
"Businesses need to deliberate, but there is a lot of support and benchmarking available about what is best suited for you, for the price point of the investment that you want to make. It is interesting that while businesses are deliberating, they are not holding back on the investment. It is not a mindless embracing of technology; there is a lot of questioning and discussion and desire to know and understand things. But the hesitation that there was earlier on about whether a business should go down the tech route or not has gone, that is now a no-brainer."
Use technology to provide you with actionable data
Once transformed into usable information, data is a valuable asset in building resilience and retuning your business when matched with your scenario planning. Ensure that you have the right analytics, dashboards, report sets and data structures to help with decision-making.
Dunne says: "Data has always been critical to business success and keeping up to date with the changing environment. Regardless of the scenario you face, getting accurate reports of what is happening in your business is critical and will continue to be so well after this pandemic has passed."
Leaders need access to a range of indicators outside their business that will help them find and realise new opportunities, such as a rival facing financial difficulties that may be open to selling. Use sources such as customer insights, employee surveys, information from trade bodies or market analysts to help shape your understanding.
Stay vigilant around cybersecurity risks
The large number of employees likely to be working remotely in the future, will increase cyber-criminals’ attack surface – the opportunities to hack into businesses systems, as well as compromise individual employees - will increase. Cyber risks are continually evolving, and businesses face unprecedented security and compliance risks through data leaks as a result of remote working. Businesses must now ensure their cloud systems across and infrastructure are secure and that there is clarity as to who is responsible for securing and monitoring them.
Businesses should also implement privacy-by-design and data segmentation policies, so they have insight and control over who has access to data in both first- and third-party environments. They must also ensure suppliers of technology services meet basic security standards and that they have an understanding of the risks through the supply chain.
Lead technology change from the boardroom
The future opportunities associated with technology involve training, upskilling and acquiring the right talent, but that also requires a certain level of understanding and knowledge at board level.
Susie Crowder, head of human capital advisory at Grant Thornton, Channel Islands, says: "I think there's a skills gap in the tech space at board level. Take something like AI; it is not a new phenomenon, but when we look at why it hasn't been embraced or utilised to its full capacity, it's because there's been a lack of understanding at the top as to what AI could do.
"Those companies that can embrace technology and use it will strengthen their competitive advantage and will build resilience back into their balance sheets once more. But organisations that copy and paste what they've always done and leave IT to the IT team without putting it as a boardroom agenda will fall behind."
The emerging winners will be businesses that have adapted their technology capacity and vision most quickly in this period. Those with a clear sense of future opportunities as well as the risks technology mitigates are well-positioned to prosper in the new operating environment.
Speak to our expert Werner Leiter to discuss where technology and digital can help build resilience in your operations.