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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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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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Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
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Asset management Asset management of the futureIn today’s global asset management landscape, there is an almost constant onslaught of change and complexity. To combat such complex change, asset managers need a consolidated approach. Read our publication and find out more about what you can achieve by choosing to work with us.
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Internal Audit Maintaining Compliance with New EU Pension Directive IORP IIOn 28 April 2021, the Irish Government transposed IORP II (Institution for Occupational Retirement Provision), an EU directive on the activities and supervision of pension schemes, into law.
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Risk, Compliance and Professional Standards FRED 82 – Periodic Updates to FRS 100 – 105The concept of a new suite of standards for the UK and Ireland, aligning with international financial reporting standards, was first conceived in 2002
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Audit and Assurance Auditor transition: how to achieve a smooth changeoverAppointing new auditors may seem like a daunting task that will be disruptive to your business and a drain on the finance function. Nevertheless, there are a multitude of reasons to consider a change, including simply seeking a ‘fresh look’ at the business.
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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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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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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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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.
The Charities Regulator in Ireland launched their Charities Governance Code (‘the Code’) in November 2018. It takes effect on 1 January 2020, with all charities required to comply from that date. From 2021, charities registered with the Regulator will be required to report their compliance annually as part of their Annual Return.
There were 10,305 charities registered with the Regulator at 31 August 2019. In the year to 31 December 2018, 686 individual concerns were raised with the Regulator in respect of 423 organisations. Of these, around 83% were in respect of ‘governance issues’, ‘legitimacy of a charity’ and ‘financial control and transparency’.
Governance ensures that basic processes and controls are in place which will ensure transparency and accountability within a charity, and will assist charity trustees in carrying out their statutory, regulatory and fiduciary duties. While rules, processes and policies are key in ensuring that the charity performs well and complies with legal requirements, good governance will only succeed if it is truly embedded in the culture and the fundamental structure of each organisation, with the trustees leading by example. This will go towards restoring public trust and confidence in the charities sector as a whole.
Given the diversity and range of entities within the sector, a one-size-fits-all model is not appropriate in the context of the scale and scope of Irish charities. However, it is clear that good governance ensures that charity trustees can carry out their statutory duties, which include, but are not limited to:
- ensuring that the charity is carrying out its charitable purposes for the public benefit;
- acting in the best interests of the charity;
- managing the assets of the charity;
- ensuring the charity keeps proper books of account; and
- acting with reasonable skill and care.
In addition to the publication of the Code, the Regulator has published the draft Charities (Accounting and Reporting) Regulations 2016; these regulations seek to enhance the accounting and reporting requirements for charities. At date of writing, these regulations have not yet been enacted. Further details can be found in our publication, ‘An Introduction to the Charities SORP’, available from our website.
The introduction of these accounting, governance and reporting regulations will increase transparency, incentivise best governance practice and enable charities to evidence this to the Charities Regulator, donors, beneficiaries and ultimately assist with the restoration of public trust in the sector.