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We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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Compliance audits
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Agreed-upon procedures
At Kevane Grant Thornton, tax is a key part of our organization and our award-winning teams can offer you a range of solutions, whatever the size of your...
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Business Tax
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Individual taxes
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Estate and succession planning
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Tax incentives program
Tax incentives program
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The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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The commercial landscape is changing fast. An ever more regulated environment means organizations today must adopt stringent governance and compliance processes. As business has become global, organizations need to adapt to deal with multi-jurisdictional investigations, litigation, and dispute resolution, address the threat of cyber-attack and at the same time protect the organization’s value.
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Our independent experts are experienced in advising on civil and criminal matters involving contract breaches, partnership disputes, auditor negligence, shareholder disputes and company valuations, disputes for corporates, the public sector and individuals. We act in all forms of dispute resolution, including litigation, arbitration, and mediation.
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We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Internal audit
We work with our clients to assess their corporate level risk, identify areas of greatest risk and develop appropriate work plans and audit programs to mitigate these risks.
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Service organization reports
As a service organization, you know how important it is to produce a report for your customers and their auditors that instills confidence and enhances their trust in your services. Grant Thornton Advisory professionals can help you determine which report(s) will satisfy your customers’ needs and provide relevant information to your customers and customers’ auditors that will be a business benefit to you.
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Transactional advisory services
Transactions are significant events in the life of a business – a successful deal that can have a lasting impact on the future shape of the organizations involved. Because the stakes are high for both buyers and sellers, experience, determination and pragmatism are required to bring deals safely through to conclusion.
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Mergers and acquisitions
Globalization and company growth ambitions are driving an increase in M&A activity worldwide as businesses look to establish a footprint in countries beyond their own. Even within their own regions, many businesses feel the pressure to acquire in order to establish a strategic presence in new markets, such as those being created by rapid technological innovation.
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Valuations
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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Recovery and reorganization
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
Our outsourcing services allow you to save time and money in order to concentrate on the competencies and the core business activities.
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Audit article
Estimating the fair value of inventory
20 Feb 2019The AICPA’s Financial Reporting Executive Committee (FinREC) has issued an early working draft of Inventory Valuation guidance, which is part of a broader forthcoming release of its Business Combinations Accounting and Valuation Guide.
The purpose of this guidance is to outline considerations for estimating the fair value of inventory. The Financial Accounting Standards Board (FASB) requires that inventory acquired in a business combination is recognized and measured at the acquisition date fair value in accordance with FASB ASC 820, Fair Value Measurement.
The released inventory guidance will ultimately be included in the broader guide and consists of a section, which provides general principles for valuing inventory, and two examples, which illustrate how to value finished goods and work in process inventory. It also offers questions and answers that illustrate some of the inventory valuation considerations discussed in the preceding sections.
“The AICPA released the inventory valuation guidance in advance of the broader guide in order to hear from valuation specialists, professionals in industry and accounting firms,” said Yelena Mishkevich, AICPA senior manager accounting standards – public practice. “We hope that fast-tracking this part of the guide will benefit all interested groups.”
This guidance is intended for preparers of financial statements, independent auditors, and valuation specialists.
Interested parties are encouraged to review the working draft and submit their informal feedback by February 1, 2019.
Source:
AICPA, Press released November 20, 2018.
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