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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.
The threat from within
02 Feb 2021This year we will continue to see a significant number of employees working remotely to counteract the difficulties presented by COVID-19.
In recent months a vast number of cyber-attacks have made news headlines, the majority of which have been attacks from outside the organisation.
Whilst external threats are often perceived as more concerning, threats from within the business can be equally as (if not more) damaging. Employees, be it individually or in collusion, are best placed to identify opportunities to carry out fraudulent deeds. They are all too familiar with the procedures and controls in place to conceal such acts, therefore, it is important that businesses take action before it is too late. In today’s COVID-19 environment it is more important than ever to consider whether your business has appropriate internal controls in place to deter employees from carrying out fraudulent acts from the inside.
A recent Association of Certified Fraud Examiners (ACFE) Report to the Nations 2020 Global Study on Occupational Fraud and Abuse identified the impact of internal fraud on businesses. The ACFE report identified occupational (internal) fraud typically went undetected for 14 months. A large majority of such cases were identified by tip-offs and internal reviews. The ACFE study also identified of the internal fraud cases examined, 15% of fraudsters worked in the Operations Department, and 14% worked in the Accounting or Finance Department of the organisation. Upper Management was also identified as being involved in 12% of internal fraud cases studied.
The well-known Donald Cressey's Fraud Triangle hypothesis explains why an employee commits fraud; employee fraud occurs when an employee identifies an opportunity, has the incentive, and the rationale to carry out such an act. It could be argued that the COVID-19 pandemic has somewhat created all three of these elements with the presence of job losses, dependence on government supports, and the increased financial burdens on many households and businesses alike. It is now even more important that businesses identify what current risks they are exposed to and put protective measures in place.
You should consider undertaking regular internal fraud risk assessments to identify areas of weaknesses in your business. From here, controls currently in place can be modified to adapt to the ever-changing fraud landscape. It is important that the Internal Audit Team is well resourced to perform its duties diligently, and that your businesses environment encourages whistleblowing. You should also ensure anti-fraud training is provided and made mandatory. Management need to be alert of changes in employee behaviours, and take the necessary steps to protect the business from internal fraud risks. The introduction of an employee support program may also assist.
External and internal threats need to be managed carefully to protect your business – especially in the current environment.
See our Forensic & Investigation services
