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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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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Ignore board auditing at your company’s peril
06 Feb 2018Since Boards of Directors are charged with the governance of their organisations, one of the key areas of focus for many Directors will be whether the Board itself and its sub-committees are operating effectively. It is one thing for Boards to meet regularly, but there are key questions that need to be asked as to whether they are discharging their duties effectively and efficiently, and whether there are areas for improvement.
The UK Corporate Governance Code sets out the standards of good practice in relation to board leadership effectiveness, and accountability. Among the provision within the code is the requirement for entities to carry out an annual review of the effectiveness of their Board and Committees.
Given that Audit Committees play a crucial role in the oversight and scrutiny of the system of internal control, risk management and governance of any organisation, this review of effectiveness is particularly relevant to them. Indeed, there is significant pressure on Audit Committees to be aware of the best practice and to perform their duties effectively.
There are several areas to be considered and questions to be answered as part of the review of effectiveness, and all Boards and Committees need to move away from the “this is how we have always done it” mentality, and transition to having a focus on improvement.
The assessment of effectiveness should have input from the Board and Committee members, as well as management. For Audit Committees in particular, some specific areas of consideration will include; size of the Audit Committee; relevance, member make-up and skill base; communication, reporting, papers and timing; ability of members and training; frequency and duration; clarity of role and remit, clear terms of reference; and expectations of the Audit Committee.
The evaluation of effectiveness can be carried out internally, or externally by an independent professional service provider. Both options are appropriate, and which option depends on the level of assurance that is required, or the importance of the independent assessment and opinion.
Within a Board environment there can be differences of opinion, and one person’s view of an effective Audit Committee may differ from the next. In such cases, an external independent review can be more beneficial. Other factors, such as cost effectiveness and the level of management time input, should be considered before deciding on whether the review should be internal or external.
Many Audit Committees at companies or organisations across Northern Ireland would undoubtedly declare themselves effective, by the fact that they have discharged their duties. However, if they have not actually objectively assessed this effectiveness, and a formal review incorporating the above points has not been carried out, then perhaps the Audit Committee, may not be as effective as they think...