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Aviation Advisory
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.
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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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Consulting
Our Consulting team guarantees quick turnarounds and superior results delivered on a range of services.
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Deal Advisory
Our experienced Deal Advisory team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
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Financial Accounting and Advisory
Our FAAS team designs and implements creative solutions for organisations expanding into new markets or undertaking functional financial transformations.
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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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Restructuring
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
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Risk Advisory
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.
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Sustainability Advisory
Our Sustainability Advisory team works with clients to accelerate their sustainability journey through innovative and pragmatic solutions.
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Corporate Accounting and Outsourcing
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.
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Financial Services Audit
Our Financial Services Audit team offers expertise and knowledge along with a horizontal approach to solving clients’ problems and queries.
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Global Statutory Audit
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.
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Pension Audit
The Grant Thornton Pension Audit team has vast experience in managing schemes and preparing annual reports on them for clients.
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Corporate Tax
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.
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Financial Services Tax
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.
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Indirect Tax Advisory & Compliance
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.
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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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Private Client
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.
Introduction
The Individual Accountability Framework (IAF) impacts all Regulated Financial Services Providers (RFSPs) and individuals who perform controlled functions (CFs) on their behalf. Certain RFSPs (including most credit institutions, insurance firms and MiFID firms) are additionally in scope for the Senior Executive Accountability Regime (SEAR).
The staggered implementation dates across the separate but inter-related IAF components are drawing near[1]. As such, Board members, other Senior Management and CF role-holders are understandably shifting focus towards an assessment of the adequacy and appropriateness of the following:
- Internal governance arrangements in place to oversee IAF compliance in BAU
- Embeddedness of key requirements across impacted end-to-end processes and related entity-level documentation (such as Code of Conduct, Disciplinary Process, Fitness & Probity procedures, etc.)
- Conduct Standards Training programmes
- Key controls across end-to-end processes supporting IAF compliance
- Reasonable Steps determination, documentation and evidencing by Pre-Approval Controlled Function (PCF) and CF role-holders
- (Where also in-scope for the SEAR), Statements of Responsibility for PCF role-holders; and Management Responsibilities Map at legal entity level (inclusive of any branches)
How we can help
We are happy to discuss your IAF assurance needs and to provide a number of support options (such as the provision of outsourced/co-sourced internal audit services), covering:
- Design and execution of a range of IAF testing and monitoring plans, to provide assurance to Board and Senior Management on the adequacy of arrangements and key controls in place to ensure ongoing IAF compliance
- Deep-dive or targeted assurance reviews for example: the allocation of responsibilities under the SEAR; the determination, documentation and evidencing of Reasonable Steps by PCF and CF role-holders; and the process and key controls supporting F&P certification
Our unrivalled team of multi-disciplinary professionals can provide specialist input, having been engaged by an Irish Pillar Bank, as well as a number of other Credit Institutions, Investment Firms and Insurance Undertakings to provide IAF advisory services and full-scale pre-implementation readiness support. We have also provided vendor assurance and system integration support regarding IAF technology platform enhancements.
In addition to the above, we have access to a panel of subject-matter experts at our UK firm, who have advised clients over a number of years and provided assurance services relating to aspects of the Financial Conduct Authority (FCA) Senior Manager & Certification Regime (SM&CR).
[1] 29 December 2023 for Conduct Standards; and enhancements to the F&P Regime; and 01 Jul 2024 for the Senior Executive Accountability Regime.
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