Our dedicated Aviation Advisory team bring best-in-class expertise across modelling, lease management, financial accounting and transaction execution as well as technical services completed by certified engineers.
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 Deal Advisory team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
Our FAAS team designs and implements creative solutions for organisations expanding into new markets or undertaking functional financial transformations.
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.
Our Risk Advisory team delivers innovative solutions and strategic insights for the Financial Services sector, addressing disruptive forces, regulatory changes, and emerging trends to enhance risk management and foster competitive advantage.
2025 reinsurance renewal: Key trends in property, casualty, and cyber markets. Gain insights on rates, catastrophe losses, and the insurance protection gap.
Our audit services can strengthen your business and stakeholders' confidence. You'll receive professionally verified results and insights that help you grow.
At Grant Thornton we have extensive knowledge and experience in providing tailored solutions to our clients, whether on a short-term or long-term basis.
Our Global Statutory Audit team ensures your statutory audit process follows a well-defined project plan, with no surprises, to maintain compliance across multiple jurisdictions. We invest time to understand your finance function and develop bespoke solutions built on the premise of central effort to remove duplication.
Our Corporate Tax team is made up of more than 40 highly experienced senior partners and directors who work directly with a wide range of domestic and international clients; covering Corporation Tax, Company Secretarial, Employer Solutions, Global Mobility and Tax Incentives.
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.
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.
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.
Grant Thornton’s Private Client Services team can advise you on all areas of financial, pension, investment, succession and inheritance planning. We understand that each individual’s circumstances are different to the next and we tailor our services to suit your specific needs.
Managing compliance across companies is time-consuming and often overlooked. Eliminating dormant companies reduces administrative and audit costs, freeing up finance directors.
Looking for a more fulfilling role in professional services? One where fresh thinking, collaboration and diversity are valued? At Grant Thornton we do things...
We offer a range of graduate programmes to help you thrive in your career. Work with and learn from the best in the business, make a difference and excel by...
Grant Thornton Ireland is rapidly approaching 3,000 people, in 9 offices across Ireland, Isle of Man, Gibraltar and Bermuda, and a presence in over 149...
We believe in a connected world — so we created an industry-leading online Alumni Network that focuses on what matters most at Grant Thornton — our people.
With a confirmed effective date for annual reporting periods beginning on or after 1 January 2023, the new standard for the reporting of insurance contracts is looming on the horizon for many (re)insurers.
Contents
For some of the larger domestic industry players, the heavy lifting regarding IFRS 17 (the “Standard”) has already been done, as implementation projects move into the parallel run and similar advanced stages. Most (re)insurers are in the mid stages of their implementation projects with some entities yet to commence their implementation activities. For those entities yet to embark on their implementation journeys, time is most definitely getting short.
A recurring theme from all implementation projects is one of technical complexity and associated costs of transition. In recognition of the significant stakeholder feedback on the Standard, which centred on the burden of implementation, the International Accounting Standards Board (IASB) issued a set of amendments in June 2020 designed to:
reduce costs by simplifying some requirements in the Standard;
make financial performance easier to explain; and
ease transition by deferring the effective date of the Standard to 2023 and by providing additional relief to reduce the effort required when applying IFRS 17 for the first time.
SUBSCRIBE TO OUR MAILING LIST
Update your subscriptions for Grant Thornton publications and events.
Whilst the amendments were well received, an IFRS 17 implementation project still represents a major undertaking for (re)insurers required to comply with the Standard. Given that Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (FRS 101) will no longer be a permitted financial reporting framework for (re)insurers from 1 January 2023, a decision is required as to whether (re)insurers currently reporting under FRS 101 transition to IFRS (including IFRS 17) or Irish GAAP (comprising FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and FRS 103 ‘Insurance Contracts’). It will be a number of years following the introduction of IFRS 17 before the Financial Reporting Council conducts a review to potentially align FRS 103 with the requirements of IFRS 17. Careful consideration will be required as (re)insurers evaluate their financial reporting options as, after many false dawns, the clock has now begun its final countdown.
