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Industry analysis Real estate market analysis
Grant Thornton's recent analysis of the real estate market in Armenia, released in July 2019, is mainly based on the review of historical data. The report, available in Armenian and English languages, is an independent, objective, comprehensive and trusted study intended to help both individuals searching for data and real estate market time series analysis, as well as persons and organizations involved in the real estate market who need not only pure data or statistics, but also analysis of the transactions in the market and the types of real estate.
Doing business in Armenia Doing business in Armenia
This guide provides a general idea about Armenia, its economic factors and other important areas which will be helpful in implementation of projects in Armenia.
Newsletter Tax Newsletter - August 2019
On 25 June 2019, the RA Parliament adopted RA Law No. HO-68-N, which makes a number of amendments and supplements to the RA Tax Code dated 4 October 2016. The law will enter into force starting 1 January 2020. However, there are some provisions that come into force starting 29 June 2019. Grant Thornton highlighted all the major amendments and supplements to the Code that the newly adopted law.
Newsletter BEPS Newsletter
As your business comes up against a growing wave of tax changes and pressure to increase tax transparency, you will need to review and possibly revise your approach to tax planning, tax risk management and tax disclosure.
International Business Report Women in business 2019
In 2019, our Women in business campaign will focus on the real world and seeking solutions to leadership diversity.
Amendments and Changes in Tax Legislation Tax newsletters
Amendments and Changes in Tax Legislation
International Business Report Women in business 2018
Many businesses globally are missing out on opportunities because of a lack of diversity in senior leadership teams.
GrowthiQ How to align human capital with global business objectives
Steps for a smoother transition to new markets
20 years in Armenia Grant Thornton Armenia celebrates 20th anniversary
Grant Thornton Armenia celebrates its 20th anniversary this year. Since 1997 Grant Thornton has been providing audit and advisory services to public and private sector organisations.
International Business Report Women in business 2017
Globally, one in four senior roles is now held by a woman.
Advisory A seller's market set to continue after a big year for M&A
Cross-border activity increases as the economic recovery gains more traction in developed economies
GrowthiQ GrowthiQ - edition 5
Welcome to the fifth edition of GrowthiQ, our digital publication that provides practical solutions to the challenges facing leaders of dynamic businesses.
GrowthiQ Lessons on big data from the healthcare sector
The healthcare sector is still experimenting with using big data but, as Anne McGeorge the national managing partner of healthcare at Grant Thornton US shares, it already has plenty to teach us about the benefits and challenges of big data analytics.
IBR The future of Europe 2016
The European Economy remains resilient despite the risks
Tax The impact of innovation tax
Scaling digital technology firms are likely to think about attracting talent and gaining funding, but innovation taxes need consideration
GrowthiQ Five ways to attract business investment to your city
Every city official knows that if you’re not running a global capital, you’re going to have to work twice as hard to attract business investment. Being a second or third city might seem to be a handicap but it forces you to innovate, which can only be a good thing.
IFRS IFRS News - Q2 2016
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards
Tax International indirect tax guide 2016
Indirect taxation is becoming ever more complicated, getting on top of the complexity and change is vital.
Travel, tourism and leisure Business model innovation: hotels' roadmap to 2020
Guests are less loyal and more demanding than ever before. They use online travel agents (OTAs) and aggregators to find the best hotels and deals – which helps operators fill their rooms, but at a cost.
IBR Global business optimism hits three year low
Crisis of confidence as global business optimism hits three-year low
GrowthiQ Are you getting the best from your lender?
Mid-market businesses should feel empowered to ask for better service from their bank, says the Swedish lender that is challenging established global players.
IFRS IFRS Viewpoints
Our IFRS Viewpoint series provides collective insights from global IFRS advisors and experts in Grant Thornton on applying IFRSs in challenging situations
Tax BEPS: managing tax risk
Tax is at the top of the boardroom agenda but how can boards take the lead in managing the whirlwind of change.
IFRS Interim consolidated financial statements 2016
This Publication illustrates condensed interim financial statements for a six month accounting period beginning on 1 January 2016, in accordance with IAS 34 ‘Interim Financial Reporting’ (IAS 34).
Blog Is FIFA fit to govern?
Is FIFA fit to govern?
GrowthiQ How to avoid a communications crisis
If you don’t want to deal with a communications crisis, make sure your corporate governance procedures are robust enough to prevent it in the first place
Tax Let’s be clear, indirect tax is a business issue
While the move to VAT/GST is often viewed as a fairly simple change, a typical readiness project is a significant business issue.
Assurance The future of audit
Insights on audit and its future in rapidly changing world. Follows a series of roundtables hosted by Grant Thornton and ACCA in seven countries.
IFRS Making financial statements an effective communication tool
This publication explains and illustrates key tools companies can use to make their financial statements an effective communcation tool.
GrowthiQ What Candy Crush can teach you about diversity
Too many companies are failing to attract women to top positions, even though mixed-gender leadership teams deliver greater profits. How can we tackle this challenge?
Advisory eDiscovery: a smarter way to get the data
eDiscovery viewpoint
IBR Women in business: turning promise into practice
The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. Somewhere there is a disconnect.
Travel, tourism & leisure The power of personalisation: Hotels’ roadmap to 2020
The power of personalisation: Hotels’ roadmap to 2020
Tax Rethinking tax: The shift to indirect tax
Whilst corporate tax avoidance continues to grab headlines, some of the biggest reforms are in fact occurring within indirect tax.
Real estate & construction The global real estate market heading into MIPIM
While the property market remains buoyant, too many investors base their decisions on gut feel, which could lead to missed opportunities.
IFRS Get ready for IFRS 9 - issue 2
This is the second in a series of publications designed to get you ready for IFRS 9; it brings you up to speed with the Standard's new expected credit loss impairment model.
GrowthiQ Why failure can be good for your business
Companies that are comfortable with failure are more nimble, innovative and successful, says John Harmeling, chief marketing officer at Grant Thornton in the US
Tax BEPS: A new era in international taxation
BEPS Hub
Tax Navigating BEPS: implications and actions
With increasing compliance obligations and risks expected as a result of BEPS, tax is set to be more integral to businesses decision making processes 
Blog UK referendum on EU membership: Four big issues
The time will soon come when the UK electorate will vote in a referendum on whether or not to the UK should remain a Member State of the European Union. In many respects British politicians are failing to give the electorate the information they need to make an informed decision. 
IFRS Reverse acquisition by a listed company
This IFRS viewpoint considers the reverse acquisition by a listed shell company.
Blog Could African mining spark another super cycle?
Could African mining spark another super cycle?
International Business Report (IBR) The global economy in 2016
As businesses look to 2016 and beyond, this report considers the outlook for the global economy in 2016. 
IFRS IFRS News Special Edition on IFRS 16
This Special Edition of IFRS News explains the key features of the new leasing Standard and provides practical insights into its application and impact.
GrowthiQ How to retain your start-up spirit
Being entrepreneurial and delivering mid-market sized turnover need not be mutually exclusive. Sweden’s Fontana Food has achieved the best of both worlds
IFRS IFRS News - Q1 2016
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
GrowthiQ How to plan for the future
Predicting the future need not be a stab in the dark. There are plenty of practical steps businesses can take to prepare for the challenges ahead.
IFRS Classification of loans with covenants
Grant Thornton International Ltd releases IFRS Viewpoint on Classification of loans with covenants
GrowthiQ Transform your business with the Internet of Things
Every business can benefit from the Internet of Things – just start small and choose wisely when deciding which operations you want to target.
IBR Europe resolute for New Year as US optimism wobbles
New research from Grant Thornton’s International Business Report (IBR) reveals that going into 2016, EU businesses remain surprisingly resilient in their outlook despite risks posed by the migrant crisis, terrorism etc. Yet 2016 also brings fresh questions as US firms report a dent to their confidence amid concerns over export markets and the strength of the Dollar.
GrowthiQ Age is no barrier
India’s young, growing workforce and China’s ageing population put Asia’s two great economies at either end of the age dividend. Partners at Grant Thornton discuss the consequences for each of their countries.
IFRS Navigating the Changes to IFRS for CFOs
This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting.
Blog Tourism overcoming adversity
I recently finished an Asian tour to connect with our firms in the region and to meet some of their clients. The trip has been an eye-opening experience and a great opportunity to focus on this high-growth region.
Tax Priorities for tomorrow’s unicorns
For tomorrow’s billion-dollar tech companies, the challenge and complexity of tax should never be underestimated.
Tax Asia Pacific feels the impact of BEPS
How will Asia Pacific countries be affected by the BEPS recommendations?
GrowthiQ Springboard to East Africa
Kenya’s economy is becoming more dynamic. For businesses seeking to expand, it could be the perfect stepping stone into the region.
Public sector Innovation in Public Financial Management
Public Financial Management (PFM) is evolving from a narrow focus on budgeting towards a wider mandate as a key driver of policy and strategy across all levels of government, public services, state enterprises and public-private partnerships. 
IFRS IASB Request for Views – 2015 Agenda Consultation
Grant Thornton International Ltd comments on IASB Request for Views – 2015 Agenda Consultation
Financial services Strategic dilemmas in insurance
The future of the insurance landscape is changing and the impact of strategy on mid-market companies is increasing. There are many challenges facing the insurance sector but our team of specialists have outlined five key areas that are under increasing pressure to adapt
IFRS IFRS Foundation Review
Request for Views - Trustees’ Review of Structure and Effectiveness: Issues for the Review 
Advisory How to be cyber-secure
The 2015 Grant Thornton International Business Report (IBR), a global survey of 2500 business leaders in 35 economies, has revealed that over the past 12 months more than 15% of businesses across the world have suffered a cyber-attack, costing a total of more than $300 billion (link). That's just the measurable costs. Who knows what the reputational damage, loss of trust and custom adds up to.
GrowthiQ Why every company needs a purpose
An increasing number of commentators and researchers think there might be a link between purpose and growth. So what does a purpose look like, and how can you define yours?
IFRS Common control business combinations
Common control business combinations
Consumer products Black Friday offers golden opportunity
But as more commerce moves online, retailers need to be aware of cyber-attacks – only 46% are prepared, despite the $86bn cost in attacks annually.
IFRS Conceptual Framework for Financial Reporting
Grant Thornton International Ltd comments on IASB Exposure Draft ED/2015/3 'Conceptual Framework for Financial Reporting'
IFRS Get ready for IFRS 9 - issue 1
This publication brings you up to speed on IFRS 9's new classification and measurement requirements.
IFRS Inventory discounts and rebates
This IFRS Viewpoint considers how a purchaser accounts for discounts and rebates when buying inventory.
IBR The future of Asia-Pacific
Drawing on interviews from our IBR and other sources this report explores the opportunities and challenges for business growth in Asia-Pacific. The slowdown in China, regional tensions and ageing populations emerge as key threats to regional growth prospects, while businesses are excited by the Trans-Pacific Partnership and increased ASEAN cooperation.
Blog Cleantech under the spotlight in build-up to Paris talks
The dramatic and sustained drop in the global oil price led to a certain amount of doom mongering around the cleantech sector. The fear, of course, was that cheaper fossil fuels would make clean energy investments less competitive. 
IFRS IFRS News - Q4 2015
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Tax What the tax function of today needs to know for tomorrow
The practical impact of the OECDs recommendations and the key issues that should be on your radar as a tax function and head of tax.
GrowthiQ Solving the productivity puzzle
As productivity rates fall, businesses and governments need to find new ways to make inputs work harder if living standards are to be maintained.
IBR China slowdown hits trading partners
New research from Grant Thornton’s International Business Report (IBR) reveals the extent to which contagion caused by China’s economic slowdown is spreading to businesses around the world. Business confidence and expectations for revenue and exports are down, not just in China’s near neighbours, but in several major economies which count on the world’s second biggest economy as a major trading partner. 
Technology Building tomorrow's $bn businesses
Tomorrow, we can expect new technologies enabling the internet of things to create opportunities for future fast-growth companies. Some will become industry leaders – the Xiaomis and Ubers of tomorrow. Many more will fail – either because their offering wasn’t differentiated enough, or because their management made the wrong decisions.
Technology Navigating tax in a digital world
As global attitudes towards tax change, tech companies need to future-proof their tax practices to stand up to enhanced scrutiny. The way in which companies markets and sells its services can also have tax implications. Therefore, one thing is clear – tax matters, and ambitious tech companies need to develop a tax strategy that can keep pace with their growth aspirations. 
IFRS Acquisition of investment properties
This IFRS viewpoint addresses whether to treat the acquisition of an investment property as an asset purchase or a business combination. This is an important issue because the IFRS accounting requirements for a business combination are very different from asset purchases.
Women in business The full potential of the Downton Abbey women
Comparison with evolution of women in Downton Abbey shows companies lagging behind society in terms of gender diversity.
Blog A good day for international expansion
5 October 2015 was a good day for companies operating across borders, with agreements on global transfer pricing rules (Base Erosion Profit Sharing or BEPS) and the Trans-Pacific Partnership (TPP). 
GrowthiQ How to be cyber-secure
Cyber-attacks are set to grow in their number and nature; those companies that embed security measures into their culture will be most successful at fending them off, says Paul Jacobs
Tax Big shake-up in international tax rules
So will the Base Erosion and Profit Shifting (BEPS) Action Plan result in a tax system that’s fairer, more efficient and more understandable?
IFRS Related party loans at below-market interest rates
This IFRS viewpoint provides a framework for accounting for loans made by an entity to a related party that are at below-market levels of interest.
IFRS Effective Date of Amendments to IFRS 10 and IAS 28
Grant Thornton International Ltd comments on ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28
IFRS Clarifications to IFRS 15
Grant Thornton International Ltd comments on IASB ED/2015/6 Clarifications to IFRS 15
IFRS Proposed Amendments to IAS 19 and IFRIC 14
Grant Thornton International Ltd comments on ED/2015/5: Proposed amendments to IAS 19 and IFRIC 14
GrowthiQ The new customer mindset
To succeed in the B2B sharing economy, businesses need to understand what drives customers who are willing to use crowdsourced and automated services LiquidSpace specialises in renting out spare office space in existing businesses by the hour, the month or longer. Users can hire space via the company’s app and be sitting in a business’s boardroom within minutes. They can add their own office space to the inventory too. 
Women in business The value of diversity
Companies with diverse executive boards outperform peers run by all-male boards according to new research from Grant Thornton. The study, which covers listed companies in India, UK and US, estimates the opportunity cost for companies with male-only executive boards (in terms of lower returns on assets) at a staggering US$655 billion in 2014
IBR Cyber attacks cost global business $300bn+
New research from Grant Thornton reveals that cyber attacks are taking a serious toll on business, with the total cost of attacks globally estimated to be at least US$315bn* over the past 12 months. The Grant Thornton International Business Report (IBR), a global survey of 2,500 business leaders in 35 economies, reveals that more than one in six businesses surveyed faced a cyber attack in the past year. With high-profile security breaches and hacks becoming more prevalent, nearly half of firms are putting themselves in the firing line with no comprehensive strategy to prevent digital crime.
Transfer pricing Transfer pricing guide
More and more fiscal authorities continue to develop their transfer pricing laws. The principles are common, although interpretations differ from one tax authority to another.
Global Dynamism Index (GDI) Where to grow your business
Globalisation is accelerating. While businesses are looking to unlock new revenue streams and governments are encouraging economic diversification, the increased connectivity of the digital age is lowering barriers to entry, opening up more international growth opportunities for dynamic businesses. 
International expansion Growing beyond borders
Our International Business Report with insights gained from in-depth interviews with five senior female executives from around the world, this report looks at the role of education in improving female participation and how this can help boost business growth.
Real estate and construction Uncovering opportunities for overseas investment
Soft power and gut instinct is driving an estimated US$250bn per year in overseas real estate investment, showing that feeling rather than data analysis determines many investment decisions. 
IFRS Example Financial Statements 2015
The preparation of financial statements in accordance with IFRS is challenging. Each year the requirements are changing as a result of new standards or amendments that become effective. These changes have the potential to significantly impact both the presentation of the primary statements and the accompanying disclosures. This illustrative set of example financial statements demonstrates good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2015.
GrowthiQ Keeping it in the family
Choosing the right leader for your business is fundamental to its long-term success. So why are so many family firms not planning for succession effectively?
GrowthiQ The Indian opportunity
Aston Manor Cider, one of the world’s largest independent cider producers, is no stranger to the export market. The UK-based company’s specialty beverage is available in more than 20 countries including the USA, Russia and a number of African nations
Blog Volatility: opportunity or challenge?
The hospitality and tourism industry is hotwired into the global economy; how businesses in the sector prepare for and respond to economic shocks is critical to long-term growth prospects.
Tax BEPS: Businesses call for clarity
Three quarters of business leaders would pay more taxes in exchange for greater clarity from authorities on what is acceptable. And while few expect a global agreement any time soon, the majority would like to see their governments take unilateral action to help achieve this aim.
IFRS The IFRS for SMEs
IFRS News Special Edition on the IFRS for SMEs
Tax Southeast Asia: Weighing up the headquarter options
As growth in output and demand in Southeast Asia continue to accelerate, where to base your business and locate key functions within the region is high on the corporate agenda. 
Tax Making relocation work for your business
Relocation and restructuring can deliver significant commercial, operational and tax benefits and it isn’t just large multinationals who are on the move.
GrowthiQ Oil price drop: windfall or worry?
The slump in oil prices has its winners and losers. Jim Menzies, global leader for the food and beverage sector at Grant Thornton, says the outlook is good for food and beverage companies. While Linda Beal global leader for the oil and gas sector at Grant Thornton, says, oil and gas companies are facing significant challenges.
IBR Call to delay revenue recognition start date
As the International Accounting Standards Board (IASB)  meets today (22 July 2015) to discuss the 2017 implementation date for new global revenue recognition rules, Grant Thornton is asking the accounting board to delay implementation, as a global business survey finds that many businesses are not expecting to be ready by 2017.
Corporate governance The tone from the top
In light of growing international interest and scrutiny of corporate practices we set out to explore how three major aspects of governance – the role of culture, board composition and strategic planning – are affecting businesses around the world. 
GrowthiQ IFRS: a route to growth
Although some see International Financial Reporting Standards (IFRS) as a regulatory burden, the evidence suggests that global standards actually oil and accelerate the wheels of global economic growth. Andrew Watchman explains.
IBR Europe looks beyond Greece
Before Greece’s 'No' vote on Sunday, business optimism in Europe had surged ahead to its highest level in five years, despite the ongoing uncertainty over the future of Greece and its continued membership of the single currency. 
IFRS Proposed Amendments to IFRS 15
Grant Thornton International Ltd comments on ED/2015/2 Effective Date of IFRS 15 – Proposed amendments to IFRS 15
GrowthiQ Tackling corruption
At the G20 summit in Australia last November, global leaders reaffirmed a commitment they made in 2010 to tackle the negative impact of corruption on economic growth, trade and development. In this roundtable debate, Grant Thornton partners from Brazil, India and South Africa discuss how businesses can behave in an ethical manner and thrive, in spite of corrupt practices.
Tax The European Commission's action plan on corporate taxation
A detailed summary of a number of the European Commission's measures designed to address corporate tax challenges and issues of abuse.
IFRS IFRS News - Q3 2015
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Blog Global cities and the growth challenge
Sallie Stiens, director, global public policy, asks what the mayors of megacities can learn from the CEOs of growing businesses, and vice-versa.
Blog Tech industry points way to growth
Low productivity growth is a concern for policymakers across the globe. Steve Perkins, global leader for technology, says boosting R&D is the way to compensate for ageing populations and slower employment growth.
GrowthiQ Automation: the pros & cons
Rising labour costs and the quest for productivity are driving businesses to automate. Finding new roles for redundant workers will be the next challenge.
International Business Report (IBR) Jobs under threat from automation
Fifty years on from the world’s first personal computer going into mass production, the Grant Thornton International Business Report reveals the scale of technology’s influence on business with the majority of firms now planning to automate operations and practices, potentially resulting in job losses. 
Blog REC benefits from FDI windfall
In the years leading up to the financial crisis, investors from developed economies poured money into emerging economies looking for big returns from in the world's fastest growing markets. But now investment is increasingly flowing from 'East' to 'West' as emerging markets slow, boosting the growth prospects of real estate and construction (REC) businesses in Europe and North America.
GrowthiQ How to give up the CEO’s chair
Giving up the CEO role is one of the toughest challenges an entrepreneur will face, but doing it successfully will help their business to grow. This article draws on experience of Swedish CEOs and advisers to help business leaders make the transition smoothly.
International Business Report (IBR) Outsourcing: Beyond technical expertise
Companies outsource back-office business processes mainly to boost efficiency and reduce costs. Payroll, HR and accounting processes – the most common to be outsourced – are heavily transactional, and many companies determine that external specialists can execute these far more cost-effectively than they can themselves.
Beyond Borders Why businesses expand overseas
More businesses are spurred on by a ‘fear of missing out’ (known colloquially as ‘FOMO’) than by a positive desire for growth when expanding abroad, according to new research from Grant Thornton's International Business Report (IBR). Business leaders are a fifth more likely to expand when presented with a negatively framed scenario than with the exact same scenario that was framed positively.
Blog Businesses profit from economic recovery
Ed Nusbaum advises businesses not to forget the pain of the financial crisis: History will look back on the financial crisis that began in 2008 as a major shock to the global economy. IMF managing director, Christine Lagarde, has talked about the "scars" it left behind. Just as when a sportsman or woman suffers a severe injury, it takes time for economies to rediscover their best form.
Briefing Can a Capital Markets Union help Europe’s MSBs?
The European Commission (EC) recently announced plans to explore creating more integrated and deeper capital markets across its 28 Member States. Targeting a 2019 launch, the Capital Markets Union (CMU) aims to streamline financial markets and allow businesses access to more diverse financing sources, regardless of geographic location within the EU. Grant Thornton recently submitted recommendations to the EC on those efforts we believe can most help mid-sized businesses (MSBs) benefit from the proposal. 
Blog Digital: the next frontier for hotels
Established players in the hospitality and tourism sector are having to work harder than ever to find growth. A series of recent events have disrupted demand in the short-term, but longer term, the rise of the digital economy is threatening traditional operating models and sales channels. Businesses in the sector need to be alive to the challenges posed by online travel agencies and aggregators (OTAs), as they try to build their brand and maintain market share.
International Business Report (IBR) The future of Europe 2015
The European recovery is gaining momentum according to Grant Thornton's International Business Report (IBR). However, drawing on interviews with more than 1,100 regional executives, the report uncovers a number of threats, from Greek debt negotiations to high unemployment, which continue to undermine European stability and long-term business growth prospects.
GrowthiQ Using crowdfunding to grow
Video case study: UK company Berry White used crowdfunding platform CrowdCube to scale up internationally. Here's how they did it.
Tax BEPS - Country by Country Reporting
Effective management of country-by-country reporting is going to require a new way of looking at transfer pricing
Blog Get close to the professors
Accountants should work more closely with academia. That was my key takeaway from a trip to Edinburgh last week for the British Accounting and Finance Association meet. It is clear that the academics welcome input from practitioners and I found myself volunteering to share some of my experiences with their students. And I got the impression that lecturers would welcome much more practical input at all stages of research and in all aspects of their work.
International Business Report (IBR) European businesses worried about Brexit
Businesses across Europe have greater concern about the prospect of the UK leaving the EU than Greece leaving the eurozone, according to new research from Grant Thornton. This comes just as the UK is about to go the polls in an election where a potential EU referendum is a major policy battleground, and just ahead of Greece’s deadline to repay almost €1billion to the International Monetary Fund in May. 
GrowthiQ Growing beyond borders
Advances in technology and logistics allow businesses to expand across borders more easily, but understanding and overcoming the psychological barriers to expansion abroad is crucial to giving your global growth plans a head-start.
Financial services Blockchain: could it transform your business model
Blockchain based technologies (distributed ledgers) have experienced a phenomenal growth in 2015. They went from being ignored by big companies and only researched by startups, to attract all the attention from the innovation world.
Blog The future of trade: thoughts from the IMF
Dominic King, Editor - global research, draws on a session at the 2015 IMF/World Bank Spring Conference to ask why regional trade deals are trumping a multilateral agreement and how the digital economy is reshaping globalisation.
Blog Tackling tax evasion: thoughts from the IMF
Day three at the IMF: Tackling tax evasion: thoughts from the IMF
Blog Ageing populations: thoughts from the IMF
Day two at the IMF: The challenges and opportunities posed by ageing populations
Blog Thoughts from the IMF Spring Conference
Dominic King reports from the IMF Spring Conference where Big Data, the oil price drop, an ageing population, the sustainable development goals, water scarcity and tax evasion are on the agenda.
GrowthiQ Global tax reform: it’s time to act
Francesca Lagerberg says the global backlash against corporate tax avoidance means companies that trade across borders need to get their tax affairs in order sooner rather than later 
International Business Report (IBR) Eurozone economic recovery strengthens
Almost three months on from the launch of the European Central Bank's quantitative easing programme, new research from the Grant Thornton International Business Report (IBR) reveals a jump in business optimism in the eurozone in the first quarter of 2015, with confidence moving back up towards pre-crisis levels. 
Blog The mid-market: underestimated?
Ed Nusbaum, global CEO at Grant Thornton tells governments not to ignore mid-market businesses.
Briefing Understanding the EU Capital Markets Union
Will the CMU positively impact the dynamic businesses that drive growth across the EU?  The EC estimates today that the EU’s medium sized enterprises receive one fifth of the funding that their counterparts in the United States can access. Clearly the EC would like to eliminate the gap, allowing the growth engine of the EU to benefit from simpler, more ready access to capital with an intended benefit of stronger growth and jobs. 
Tax Tackling corporate tax avoidance
The European Commission unveil plans to combat corporate tax avoidance and tackle businesses exploiting the complexity of tax rules.
Tax A global guide to business relocation
There are a number of cost and commercial reasons why a group may consider relocating, but it is also important to understand the consequences.
International Business Report (IBR) Global M&A snapshot 2015
Companies are increasingly focused on high-quality strategic transactions, with less time spent on investigating peripheral opportunities, according to our International Business Report (IBR), a survey of 5,400+ business leaders in 35 economies.
International Business Report (IBR) Diversity in business: why do we care?
Francesca Lagerberg explains why we continue to call for greater gender diversity in business and explains how our 2015 report - The path to leadership - adds to the debate.
GrowthiQ Why you need to consider natural capital
Businesses need to open their eyes to the benefits of measuring and valuing natural capital says global leader for energy & cleantech Nathan Goode.
International Business Report (IBR) Women in business: the path to leadership
Our 2015 women in business report looks at how to facilitate the career paths of women into senior management and offers 12 recommendations to society, government, businesses and women themselves about how to better support female advancement.
Hospitality and tourism Hotels 2020: Welcoming tomorrow's guests
The hotel industry is going through a period of unprecedented, irreversible change and will look very different in 2020 than it does today.
Blog Perseverance and patience
Food & Beverage (F&B) executives globally are ready to expand via exports. This is especially clear here in Europe, where in 2013 the EU28 became the world’s top exporter of agricultural and food products, outperforming the United States, Brazil, China and others.
Blog Where’s hot and where’s not for ICT infrastructure?
Rob McGillen, global head of technology at Grant Thornton, asks how important ICT infrastructure to business growth prospects and which economies are performing best.
GrowthiQ The global sharing economy
Poised to be every bit as disruptive as the internet revolution, is your business ready for the rise of the sharing economy?
Blog Price of oil doesn't change its impact on planet
Nathan Goode on the outlook for renewables in 2015
Blog My thoughts from mining Indaba
Linda Beal on the shake-up in mining and how it creates the perfect storm for M&A in the sector
Blog A year of risk and reward
Blog A year of risk and reward
Mining My thoughts heading to mining Indaba
Grant Thornton colleagues head off to the Investing in African Mining Conference 'Indaba' in Cape Town, thoughts turn to the health of the South African and wider regional mining sector.
International Business Report (IBR) The global economy in 2015
Drawing on 10,000 interviews with company leaders and international forecast data, this report considers the outlook for the global economy and what this means for business growth prospects in 2015.
GrowthiQ A recovery. But not as we know it.
In the inaugural GrowthiQ article, global CEO, Ed Nusbaum considers the outlook for the global economy, and tells business leaders that opportunities remain despite prevailing economic uncertainty. 
International business report (IBR) Global uncertainty weighs on resurgent business confidence
New research from the Grant Thornton International Business Report (IBR) reveals that while business confidence in 2014 climbed to levels not seen since before the financial crisis, a recent spate of uncertainty is weighing on growth prospects for the year ahead.
IFRS Interim consolidated financial statements 2015
This illustrative set of interim financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for companies preparing condensed interim financial statements for a six month accounting period beginning on 1 January 2014. It reflects changes in IFRS that are effective for the year ending 31 December 2014.
IFRS Consolidated financial statements
This illustrative set of financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2013.
IFRS IFRS News - Q1 2015
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Blog Building a sustainable future
Real estate and construction is probably not the first sector that comes to mind when you think about environmental sustainability. The construction process consumes large amounts of natural resources and energy, and can create significant waste. While the progress of development continues to add to our quality of life, the built environment is responsible for approximately two-fifths of global energy use and a third of carbon emissions.  This means that, from design to demolition, the buildings in which we live, work and play have a huge impact on the environment.
Blog Food and Beverage grows globally
Profitably growing a Food and Beverage company today is more difficult than ever – yet opportunities have never been greater.
Food & Beverage Expanding horizons
F&B companies are using international expansion to chase profits globally.
International Business Report (IBR) Talent squeeze threatens global growth
Businesses in the world’s three biggest economies, the United States, China and Japan, are increasingly feeling the heat when it comes to recruiting skilled staff. Given that these countries together represent over a third of global output, a deficit of skilled staff could have a significant knock-on effect on economic growth not just in these economies but beyond.
IFRS Navigating changes to IFRS for CFOs
This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.
Blog How to grow without breaking the planet
Technology is at the cutting edge of efforts to make growth more sustainable. As the global population swells and more people move into higher consumption classes, the demand for food, for energy, for water, will all increase. But the resources our planet offers will not. Clearly the status quo is not sustainable. 
Private Equity Creating growth
Private equity has always focused on creating value and helping promote growth in portfolio companies. Since the industry began, private equity firms have tried many ways to meet this ultimate objective – and with varying success. Now, post the global financial crisis, the question being asked more than ever is: how can private equity deliver its value-added promises? 
Blog Efficiency breeds success
Efficiency and cost savings are big business in hospitality and tourism. It's hard to think of another sector which was such an early adopter of environmentally-friendly business practices. 
Tax Global tax newsletter issue 11
Global tax newsletter is designed to keep you up to date with significant tax developments around the world that impact businesses with cross-border operations. It addresses issues of a global nature as well as domestic tax developments of interest to foreign investors. The newsletter aims to cover tax developments on a regional and international basis.
IFRS Proposed Amendments to IAS 12
Grant Thornton International Ltd has commented on the IASB's Exposure Draft 'Recognition of Deferred Tax Assets for Unrealised Losses'. 
Blog Stagnation in Germany threatens economic outlook
Ed Nusbaum, global CEO of Grant Thornton, discusses the Q3 global economic outlook and finds the slowdown in Germany threatening eurozone and world growth prospects.
Mining The resurgence of M&A in mining
Recession, economic uncertainty, and market volatility have forced many miners out of the industry and brought others to the point of insolvency.
Blog LatAm's new challengers
Jose Luis Sarrio (international business centre director and partner at Grant Thornton Peru) and Madeleine Blankenstein (international business centre director and partner at Grant Thornton Brazil) discuss the outlook for Latin America.
IFRS 15 A new global standard on revenue – life sciences
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the life sciences industry.
Blog Global dynamism: the G7 fight back
Over the last few years, ask an economist where to look for growth and the answer would usually be the emerging markets. Now, though, with renewed optimism in Japan the UK, and US , should we be looking to the developed economies for new opportunities?
IFRS Impact of IFRS in the EU
Grant Thornton International Ltd has commented on our experience of the IAS Regulation.
International Business Report (IBR) Quebec: the business growth landscape
New research shows that rising optimism in Quebec is feeding into brighter business growth prospects but that bureaucracy is constraining those very same growth plans. The results from Grant Thornton’s International Business Report (IBR), a survey of 2,500 senior executives in 34 economies, reveals that despite the roadblocks, businesses in Quebec are focused on incentivising productivity improvement and enhancing sales force effectiveness in a bid to boost growth over the next 12 months.
Blog Act now, or forever be left behind
Nathan Goode calls for a change of narrative in the sustainability debate.
International business report (IBR) Sustainability: changing the debate in emerging markets
With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets.
Blog BEPS: Making tax sexy
Francesca Lagerberg, Global head of Tax services welcomes moves towards global taxation transparency.
IFRS Tentative IFRIC agenda decision
Grant Thornton International Ltd has commented on ‘IAS 16 Property, Plant and Equipment - accounting for proceeds and costs of testing on PPE'.
Blog Collaborate. Innovate. Grow.
Crowdsourcing is not a new concept. I see it as the guiding principle underpinning democracy; the wisdom of the crowds pick a better leader than any individual could (we hope!) But what about using crowdsourcing to develop business strategy?
Blog The virtuous GDP-growth cycle
The second quarter of 2014 brought a raft of very cheery economic news. The pace of growth in China kicked back up to 7.5% following a mini-stimulus from the government which included speeding up infrastructure project approvals, tax relief and credit easing. The United States roared back after a particularly bitter winter to post 4.0% growth (at the annual rate). Spain was buoyed by news that growth had accelerated to 0.6% (from the previous quarter) and the unemployment rate has started to fall.
IFRS IFRS News special edition on IFRS 9
IFRS 9 fundamentally rewrites the accounting rules for financial instruments, introducing a new approach for financial asset classification and replacing the now discredited incurred loss impairment model with a more forward-looking expected loss model. All in addition to the major new requirements on hedge accounting that we reported on at the end of 2013. This special edition of IFRS News outlines the new Standard’s requirements, and the benefits and challenges that it will bring.
Blog Is your business taking CSR seriously?
Sustainability is a buzzword of the moment. Whether as business leaders or consumers, we cannot escape from being told to consider the long-term implications of our actions or spending decisions.
Blog BRIC economies on different paths
Ed Nusbaum talks to Ivo Daalder about the outlook for emerging markets
International Business Report (IBR) Corporate social responsibility: beyond financials
Investor calls for transparency and the rise of social media have thrust the impact businesses have on the economy, the environment and society more firmly into the spotlight. Drawing on more than 2,500 interviews with business leaders in 34 economies, Corporate Social Responsibility: beyond financials, looks at how companies are responding to this challenge; how they are making their operations more sustainable and what role they feel integrated reporting can play.
Blog Transatlantic boost for cleantech
Nathan Goode welcome growth opportunities extra government scrutiny brings
IFRS Proposed changes to IFRS 10 and IAS 28
Grant Thornton International Ltd has commented on the IASB's Exposure Draft 'Investment Entities: Applying the Consolidation Exception'.
IFRS 15 A new global standard on revenue – retail industry
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the retail industry.
IFRS 15 A new global standard on revenue – Manufacturing industry
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the manufacturing industry.
IFRS A new global standard on revenue – construction
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the construction industry.
IFRS 15 A new global standard on revenue – software & cloud services
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the software and cloud services industries.
IFRS 15 A new global standard on revenue – real estate
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the real estate industry.
Hospitality & tourism Develop your services. Then shout about it.
As the global economy slowly recovers its verve, so business leaders in the hospitality and tourism sector are looking at new ways to grow their operations. So says our International Business Report (IBR), which interviews around 150 senior executives in the sector globally every quarter.
Not for profit With social media, the greatest risk is doing nothing
The dangers of social media are clear, but the risk to a charity of not getting involved is far greater. A story that emerged during the research for our new report, ‘Growing communities: How charity leaders govern social media globally to thrive online’, illustrates this perfectly.
Technology Think beyond the acquisition
The technology sector is riding the crest of a wave. We interview approximately 150 technology companies around the world every quarter through our International Business Report (IBR) and what’s struck me since the beginning of the year is how bullish the leaders of these companies are about their growth prospects.
Not for profit Why strategy and measuring social media are co-dependent
One of the greatest challenges with using social media strategically is measuring its success. Boards need to understand how social media is helping meet their strategic objectives and need to set goals and define success early in the planning stage. Measurement is crucial to understanding whether these goals have been achieved.
Not for profit Charities must bridge the education gap in social media
How can charities hope to master and benefit from social media unless they understand its full potential and risks? Our new report, ‘Growing communities: How charity leaders govern social media globally to thrive online’ , reports on our interviews with charity CEOs from Australia, Canada, Ireland, New Zealand, the UK and the US. 
Auditor rotation The future of corporate reporting
I spend a lot of time outside of work with friends and colleagues; going out, playing or watching sport, going to the cinema. But do I spend as much quality time as I should with my family? If you ask my Mum, she will say no.
Not for profit Charity boards must get to grips with social media
As the global economy slowly recovers its verve, so business leaders in the hospitality and tourism sector are looking at new ways to grow their operations. So says our International Business Report (IBR), which interviews around 150 senior executives in the sector globally every quarter.
Not for profit Better social media strategies for charities
When it comes to charities and the not for profit sector, social media has often outpaced organisational change. Social media has huge potential to deliver services, foster internal values and sharing, and achieve strategic goals beyond communications. 
Global economy Global business optimism boosted by export hopes
I was interviewed last week on CNN to discuss the continued strength of global business optimism uncovered by our Q2 IBR economic update. The interviewer was particularly interested in the reasons behind business confidence around the world reaching a record high since we started asking this question in 2003. So let’s take a look at what the survey is telling us.
IFRS Proposed Amendments to IAS 1
Grant Thornton International Ltd has commented on the IASB's Exposure Draft 'Disclosure Initiative - Proposed Amendments to IAS 1'.
Not for profit How charity leaders govern social media
Social media is a game changer. Charities looking to engage with a more technology literate audience need to harness the power of this rapidly changing environment.
Direct international tax Getting to grips with the BEPS Action Plan
Tax management within multinational enterprises has never been more challenging. 'Getting to grips with the BEPS Action Plan' is the latest report from our BEPS series exploring the OECD’s planned overhaul of the international tax system, what it means for businesses and how they can prepare.
International Business Report (IBR) Creative, instinctive leadership in business
Do leadership styles differ around the world? This is one of the questions explored by our recent International Business Report. We asked 3,400 business leaders working in 45 economies to tell us how important they believe certain attributes are to good leadership.
International Business Report (IBR) Who are Brazilians backing to win the World Cup?
It will not surprise an international audience that the build-up to the World Cup has been overwhelmingly negative in Brazil. Scenes of local protesting about the huge sums of money lavished on stadia in Manaus and Brasilia, which are likely to poorly used after the main event, have been broadcast around the world.
IFRS Proposed Amendments to IAS 1
Grant Thornton International Ltd comments on ED/2015/1 Classification of liabilities – Proposed amendments to IAS 1
International Business Report (IBR) Why businesses should consider outsourcing
Outsourcing remains widely utilized by businesses across both sides of the Atlantic. The UK is seeing increasing utilization of outsourcing services across a number of industries, including the IT, HR, tax, and finance and accounting (F&A) functions within companies. And a recent survey shows that this continues to be attractive to companies within the USA, UK and EU.
Tax Global tax newsletter, issue 10
The newsletter aims to cover tax developments on a regional and international basis.
IFRS IFRS 15: revenue from customer contracts
After more than five years in development the IASB and FASB have at last published their new, converged Standard on revenue recognition – IFRS 15 ‘Revenue from Contracts with Customers’. IFRS 15 replaces IAS 18 and IAS 11 and will affect almost every revenue-generating entity that applies IFRSs. We applaud the two Boards for delivering a converged Standard in this critical area.
IFRS Post-implementation Review of IFRS 3
Grant Thornton International Ltd has commented on the IASB's Post-implementation Review of IFRS 3 ‘Business Combinations’.
Hospitality & tourism Energy & emerging market concerns dampen outlook
Business growth indicators in the hospitality and tourism sector took a bit of a nosedive globally in Q1 according to our International Business Report (IBR). Expectations for increasing revenues, profits and investment all fell over the past three months. 
International Business Report (IBR) Future of Europe 2014
The third edition in our 'Future of Europe' series looks at three distinct aspects of the regional business, economic and political landscape: recovery, integration and expansion.
Construction and real estate Three threats to real estate and construction growth
The real estate and construction sector continues to make steady progress as it recovers from a financial crisis in which investors, developers and homeowners were disproportionately hit.
Outsourcing Outsourcing: driving efficiency and growth
Two in five mid-market businesses around the world either currently outsource a back-office process, or plans to in the near future.
Cleantech Can Ukraine stand-off boost European renewables?
As the global economy slowly recovers its verve, so business leaders in the hospitality and tourism sector are looking at new ways to grow their operations. So says our International Business Report (IBR), which interviews around 150 senior executives in the sector globally every quarter.
Transfer pricing Balancing risks and rewards in transfer pricing
One of the key areas is transfer pricing documentation, our latest article discusses the demands that companies currently face and how the bar is to be raised further following the OECD's Base Erosion Profit Shifting (BEPS) Action Plan.
Global economy Business spending: first optimism, then investment
I must admit that the optimism of business leaders around the world evident in our quarterly International Business Report (IBR) economic update was almost as surprising as it was pleasing. 
Cleantech Maintain renewable incentives and enhance energy efficiency
Energy costs are a major concern for businesses in Italy: close to two in five business leaders expect rising energy costs to hinder growth over the next 12 months (38%) according to our Q1 International Business Report (IBR) results. This is above the global (35%) and EU (31%) averages and reflects the higher price of energy in Italy compared with the rest of Europe.
Auditor rotation Why has Europe shaken up its accountancy market?
You may well have seen the news last week that the European Parliament approved a package of accounting reforms relating to the relationship between Public Interest Entities (PIE) and their auditors operating within the European Union.
International Business Report (IBR) What can we learn from dynamic business culture?
We launched our annual M&A report – ‘Dynamic businesses at the forefront of M&A optimism’ – in Hong Kong last week. The report has provoked a good deal of debate and I just wanted to share two highlights from the data.
International Business Report (IBR) Why isn’t female political leadership translating to the boardroom?
Denmark has made some fantastic television dramas over the past few years. ‘The Killing’ and ‘Borgen’ have been compulsive viewing in the Lagerberg household. Both place intelligent, strident women as the main characters and, in the case of political drama, Borgen, imitate life itself by prophetically telling the tale of a female Prime Minister – Helle Thorning-Schmidt becoming the first Prime Minister of Denmark in 2011.
International Business Report (IBR) Dynamic businesses at forefront of M&A
Dynamic businesses at the forefront of M&A activity highlights an increasing importance for M&A in driving growth. There is a clear acknowledgment from the 12,500 businesses surveyed that acquisitions will be needed to supplement existing operations.
International Business Report (IBR) Why still so few women in senior management?
Just one in seven delegates at the annual World Economic Forum gathering was a woman this year. This statistic alone explains why the issue of women in businesses inspires so much passion and debate, emphasising that the path from the classroom to the boardroom is anything but straightforward.
Real estate and construction In search of the microclimates of opportunity
I am currently at MIPIM, the annual gathering of property professionals from around the world, and can report that the mood is much improved from this time last year. Developers, property companies, investors and homeowners suffered disproportionately during the financial crisis. 
GrowthiQ Welcome to GrowthiQ
GrowthiQ: Insights to help your business grow
International Business Report (IBR) From classroom to boardroom
24%: that is the proportion of women holding the most senior roles in businesses across the globe.
Hospitality & tourism Financing scrutiny pushes hoteliers to next level
The financial crisis was devastating for the hotel industry as consumers and businesses pulled back on discretionary spending. However, the report we released this week ‘Hotel Investment 2014 – Finance on a different level‘ reveals that the impact of the crisis was not all bad – certainly in terms of placing the hotel financing environment  on a more balanced and sustainable footing.
Real Estate and Construction Microclimates of opportunity
Developers, property companies, investors and homeowners suffered disproportionately during the financial crisis. But now, finally, expectations for profitability, jobs and orders are all on the rise.
IFRS Proposed amendments to the IFRS for SMEs
Grant Thornton International Ltd has commented on the IASB Exposure Draft 'Proposed amendments to the IFRS for SMEs'.
IFRS IFRS Top 20 tracker
This publication guides management through the top 20 disclosure and accounting issues identified by Grant Thornton as potential challenges for IFRS preparers.
International Business Report (IBR) The rise of the cross-border transaction
Business leaders remain cautious about their current and future commitment to M&A. However, this year’s results reveal an increased appetite for cross-border acquisitions, which is at its highest level since the IBR first asked this question in 2008.
IFRS Applying IAS 36 in practice
This publication summarises the overall objectives and requirements of IAS 36, provides a step-by-step guide to performing an impairment assessment (including recording or reversing an impairment when necessary) and offers insights on best practices to address interpretative and practical application issues.
Hospitality Hotel investment: finance on a different level
Drawing on interviews with banks, private equity houses, advisers and hoteliers, the report calls for hotel businesses to address the way they deal with lenders and investors if they are to raise money in the new environment.
International Business Report (IBR) What type of leader are you?
Wherever I go in the world, I’d rather be walking a dog than stroking a cat. Some things are the same wherever you are. But does this include business leaders? Working with senior business people across the globe, I’ve found they do share a lot of traits – valuing integrity, a positive attitude and the ability to communicate – even across wide cultural divides. 
IFRS Annual Improvements to IFRSs 2012-2014 Cycle
Grant Thornton International Ltd has commented on the IASB Exposure Draft 'Annual Improvements to IFRSs 2012-2014 Cycle'. 
International Business Report (IBR) Modern trends in business leadership
The role of leaders in creating successful businesses and driving growth is crucial. How these leaders run their teams and make decisions can be the difference between success and failure. But do the leadership characteristics displayed by leaders vary from region to region?
International Business Report (IBR) Are two Latin Americas emerging?
I read a fascinating article in the Wall Street Journal the other day which suggested that my region could broadly be thought of as two separate entities.
International Business Report (IBR) Tech businesses forecasting strong a 2014
The technology industry is synonymous with innovation, fuelled by investments and a continual focus on research and development (R&D). By its very nature it is at the forefront of change. Those businesses which fail to keep up with technological change and stay current with consumer requirements are left behind. 
Indirect tax International indirect tax ebook
As more and more goods and services are crossing national borders than ever before, and with indirect taxes being adopted by a growing number of tax authorities, international businesses are facing tax issues in many overseas countries - including the possibility of having to account for tax in the country where their customer is located.
International Business Report (IBR) The global economy in 2014
Drawing on data and insight from the Grant Thornton International Business Report (IBR), the Economist Intelligence Unit (EIU) and the International Monetary Fund (IMF), The global economy in 2014 answers these questions and more.
IFRS Proposed amendments to IAS 27
Grant Thornton International Ltd has commented on the IASB Exposure Draft 'Equity Method in Separate Financial Statements - Proposed amendments to IAS 27'.
Cleantech Rising energy costs put pressure on demand for renewables
We asked the 3,500 business leaders who responded to our latest Grant Thornton International Business Report (IBR) a new question in Q4-2013: Do you expect rising energy costs to constrain the growth of business over the next 12 months? 
Global Economy How to succeed in China? Go west to the ‘second-tier’ cities
The lure of China’s less well-known cities and the opportunities they present has been picking up speed for years, along with their impressive growth. In fact, while they are often described as ‘second-tier’ cities, many are in fact now wealthier than their ‘first-tier’ counterparts. 
Global Dynamism Index (GDI) Sweden is open for business
Sweden is an open, trade-oriented economy with a strong emphasis on supporting enterprise. It is therefore perhaps unsurprising, if still pleasing, to find the economy ranked third for the dynamism of our business operating environment in the Grant Thornton Global Dynamism Index (GDI) 2013. We are behind only Ireland and Canada on this measure in the 60-economy study.
Blog Economic outlook for 2014
I was interviewed this week by CNBC and BBC World News to discuss the economic outlook for 2014, drawing on the views of 3,500 senior executives in 45 economies we interview for our International Business Report (IBR). 
IFRS Proposed Amendments to IFRS 13
Grant Thornton International Ltd has commented on 'Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value'
Real Estate & Construction Fighting fraud in construction
The presence of fraud and corruption in construction can take many forms; from falsely representing the number of hours a contractor works, through to collusion when bidding for contracts or paying bribes to secure a contract. These inevitably increase costs and, in the case of bribes, inflate the contract price.
Global Dynamism Index (GDI) Israel: at the forefront of global innovation
Israel is a major player in science & technological innovation. In fact, perhaps only the United States is more prominent globally. 
Global Dynamism Index (GDI) Philippines the biggest climber in business growth environment rankings
The Philippine economy is growing fast. GDP expanded by 6.8% in 2012 and, whilst remittances climbed to a record high of US$23.8 billion in 2012, their share of GDP actually dropped to 8.5%, down from 9% in 2011. 
Construction and real estate Real estate and construction sector outlook improves
Business optimism in markets such as China, the UK and the US has risen markedly over recent months according to the Grant Thornton International Business Report (IBR)[1]. And the most interesting aspect for me is the contribution of the real estate and construction sector to the brightening economic outlook.
Public sector Public financial management reform in a period of adjustment
Five years after the global financial crisis struck, residual effects continue to impact public financial management (PFM) in countries throughout the world.
IFRS IFRS 9 hedge accounting
IAS 39 ‘Financial Instruments: Recognition and Measurement’, the previous Standard that dealt with hedge accounting, was heavily criticised for containing complex rules which either made it impossible for entities to use hedge accounting or, in some cases, simply put them off doing so.
Cleantech Cleantech investment could break decarbonisation inertia
The outlook for the cleantech sector looks to be improving. While the Climate Policy Initiative reported that global climate finance flows had plateaued at US$359bn in 2012, business growth indicators from our Q3 International Business Report (IBR) are positive, particularly as regards investment and R&D, although a shortage of talent remains a challenge
International Business Report (IBR) Doing more with less. But at what cost?
Business leaders in the hospitality & tourism sector are continuing to do ‘more with less’ according to the Grant Thornton International Business Report (IBR) Q3 results. Expectations for business growth remain robust, but job creation is fairly stagnant, reflecting a broader drive for efficiencies within the sector.
Global economy Mature markets stage optimism fight back
I was interviewed last week by CNBC and BBC World News[1] to discuss our Q3 International Business Report (IBR) results.  The big surprise was that business optimism in the UK more than doubled over the past quarter.
Global Dynamism Index (GDI) Developing a business growth environment in China
The Chinese economy is slowing. The days of rampant, double-digit expansion are in the past as we move away from massive investment and export dependency towards a more sustainable, consumption-driven model of growth. This rebalancing offers both challenges and opportunities for dynamic organisations. How these businesses adapt to the changing environment will be key to their growth prospects.
Food & beverage Hunger for growth
The food and beverage industry is poised for growth around the globe. After years of uncertainty, retrenchment and delayed investments, industry executives are once again looking to invest in new products, new capacity, new distribution channels and new markets. Even in countries still shaking off the recession, executives expect growth and plan to capture market share at home and abroad.
Tax Global tax newsletter, issue 9
Global tax newsletter is designed to keep you up to date with significant tax developments around the world that impact businesses with cross-border operations. It addresses issues of a global nature as well as domestic tax developments of interest to foreign investors. The newsletter aims to cover tax developments on a regional and international basis.
IFRS Valuing intangibles under IFRS3
This guide includes practical guidance on the detection of intangible assets in a business combination and also discusses the most common methods used in practice to estimate their fair value. It provides examples of intangible assets commonly found in business combinations and explains how they might be valued.
Blog Chile is the world's second most dynamic economy
There was some great news for Chile in the latest edition of the Grant Thornton Global Dynamism Index (GDI): we ranked second out of 60 economies, behind only Australia.
Doing Business The Thoughts of Chairmen Now
John Geldart has spent a lot of time in China over recent years. It is an amazing country which fascinates and surprises him every time he returns, but perhaps no more so than over the past few months when he has been lucky enough to interview the chairmen of some of its most dynamic companies.
Blog Fighting back against construction fraud
Fraud is endemic in the construction industry. So much so that in many parts of the world it is seen merely as a ‘cost of doing business’. But this does not have to be the case. In a report released this week, ‘Time for a new direction – Fighting fraud in Construction’, we recommend a number of concrete steps companies can take to avoid becoming victims of fraud.
Global Dynamism Index (GDI) Australia tops dynamism index
According to our Global Dynamism Index (GDI) 2013, Australia is the economy businesses should be looking at. It climbed to the top of the ranking of 60 of the largest economies in the world this year, up from seventh place in 2012.
Private Equity Anatomy of a modern day fundraise
Last month I chaired a panel of leading figures from the Private Equity (PE) sector to launch our 2013/14 Global Private Equity report: ‘A time of challenge & opportunity’. 
Tax Transfer pricing news, edition 4
Welcome to the fourth edition of Transfer Pricing News. This provides updates on transfer pricing developments from a number of countries across the globe – a necessity in the global economy we all now inhabit.
Food & Beverage Ramping up food and beverage investment
Is there light at the end of the tunnel for the food and beverage sector? Certainly our new  report on the health of the sector – ‘Hunger for growth: Food and Beverage looks to the future‘ – suggests so. 
Private equity Global private equity report
Private equity firms around the world are adapting to a 'new fundraising road map', according to the Grant Thornton Global Private Equity Report 2013/14.
International Business report (IBR) Women in senior management
Our International Business Report with insights gained from in-depth interviews with five senior female executives from around the world, this report looks at the role of education in improving female participation and how this can help boost business growth.
Technology Tackling international markets
Business-minded technologists have always planned for global business empires. It used to take decades before they could grow globally. Today, it can be more or less instantaneous – creating a new set of opportunities and threats. 
Technology Ensuring compliance and data security
For tech companies, the regulatory environment is tougher now than ever before. To protect national interests, governments are using compliance to restrict companies that could potentially disrupt established industries which can  creating a knock on effect for tech companies. Rapidly expanding companies also face a wider range of individual regulations as they expand into new territories, be it employment law, taxation, product safety or licensing.
Technology How to rapidly scale operations and teams
Scaling a tech business is like walking a burning tightrope. The faster you go, the more you risk falling off. But go too slowly and the rope will burn through.
Global Dynamism Index (GDI) Australia, Chile and China top business growth environment index
Last week, we released the results of the Grant Thornton Global Dynamism Index (GDI) 2013. This is the second year we have released these results. We are seeing the beginning of trends in the data but there was also some interesting movement up and down the rankings.
Blog Surprising international intentions
Stefano Salvadeo was interviewed on Focus Economia di Radio 24 recently to discuss some positive indicators regarding M&A activity in Italy.
Blog Thinking outside the Big Blue box
Thinking outside the Big Blue box. Scott Barnes responds to UK Competition Commission proposals.
Global Dynamism Index (GDI) Global Dynamism Index (GDI) 2013
These are the results of the Grant Thornton Global Dynamism Index (GDI) 2013, an annual research project designed by the Economist Intelligence Unit, which ranks the development of the business growth environments of 60 of the world's largest economies over the past 12 months.
Auditor rotation Auditor rotation gathering steam
A lot has been written about auditor rotation over recent months, but in August, India became the latest major economy to actually enforce mandatory rotation. This is big news. And not just for us accountants.
Hospitality & tourism Hospitality & tourism industry set for further growth
Businesses in the hospitality & tourism industry are the most bullish globally on the outlook for both revenues and profits. That’s according to the Q2 International Business Report (IBR[1]) results, providing further evidence of strong performance in the industry. 
Blog Construction & real estate sector buoyant
Reviewing the Q2 International Business Report (IBR[1]) results, I was pleased to see some good news for construction & real estate companies: Profitability expectations around the world are up. However, my optimism is tempered somewhat by recent news from China and it will be interesting to see how businesses react in Q3.
Tax Transfer pricing practices in the dock
The issue of transfer pricing has hit the headlines in the UK and the US over recent weeks due to the relatively low level of corporation tax multinationals such as Amazon, Apple, Google and Starbucks.
Blog An interview with Stanley Chang
Stanley Chang discusses China's economic outlook
Blog Doing Business in China
Dynamic organisations need to apply both reason and instinct when making business decisions is the cornerstone of our 2012 advertising campaign.
Blog The brightening outlook for Spain
The brightening outlook for Spain. Rising exports amongst reasons to be optimistic
Cleantech Cleantech businesses maintain positive outlook
At a time when China and the EU are arguing over solar panel subsidies and shale gas has revolutionised the US – and perhaps soon the global – energy market, I was encouraged to see the general optimism amongst cleantech businesses in the Q2 update from our International Business Report (IBR).
Global Economy Business optimism split in superpowers
This time last week I was interviewed by Bloomberg and CNBC to discuss a divergence in business optimism between China and the US revealed by our Q2 International Business Report (IBR). The results were surprising: Chinese business optimism is at an all-time low whilst their US peers are more optimistic than at any time since 2005.
GrowthiQ Dealing with corrupt practices
Dealing with corrupt practices in Brazil and India.
GrowthiQ Changing corrupt cultures
Changing corrupt cultures in India and Brazil
Tax Expatriate tax newsletter, edition 7
Grant Thornton understands that multinational tax challenges are among the most complex and expensive issues facing companies with international operations. And expatriate tax issues are a key consideration for companies working across borders.
Blog Doing business in Peru
Doing business in Peru an interview with José Luis Sarrio.
INTERNATIONAL EXPANSION United States
The US is the largest economy in the world and home to approximately 320 million people. Growth rates remain steady, albeit below pre-crisis levels, and job creation has been strong. Congressional dysfunction, particularly around tax reform is a major concern for business leaders while the strong dollar is weighing on exports. Below is our advice about expanding into the US and its ranking in the Global Dynamism Index 2015.
Blog Jobs shortage hits productivity
Last week, the International Labour Organisation (ILO) released their annual World of Work report. It contains some stark warnings, particularly for mature economies where it does not expect employment levels to return to pre-crisis levels before 2017. Getting people back into work, the report says, will be a “major global challenge” for years to come and the threat of “social unrest” a major risk.
Transfer pricing Conflict resolution in transfer pricing
Advanced Pricing Agreements (APAs) are helping to alleviate the risk of double taxation. In turn, Mutual Agreement Procedures (MAPs) may offer a smoother path to conflict resolution. But neither is a panacea.
Blog Split at the heart of Europe
Writing our recently released Future of Europe report, the thing that stood out to me most was the divergence of business opinion on how to handle the eurozone crisis. And not just between the 17 euro ‘ins’ and the 10 euro ‘outs’ – which you might expect – but a split right at the heart of Europe.
International Business Report (IBR) Tax planning stuck in moral maze
I was interviewed on Wednesday morning by Bloomberg and BBC World, discussing our latest IBR results which reveal that the vast majority of business leaders would welcome more guidance on tax planning, even if this reduced their opportunities to cut cross-border tax liabilities.
Blog Doing business in Poland
Doing business in Poland an interview with Tomasz Wroblewski.
International Business Report (IBR) Ireland’s future in Europe
Having been Managing Partner of Grant Thornton Ireland for 9 years, I was naturally drawn to the mixed views of Irish businesses in our 2013 Future of Europe report which we released this week. The report revealed much support for what the euro has achieved, but very little appetite for further integration. 
Blog Doing business in Mexico
Doing business in Mexico an interview with Hector Perez
Blog From BRIC to MINT
The Q1 IBR economic update contained a major surprise: For the first time, not one of the BRIC economies made it into the top five for business optimism.
Blog Light at the end of the tunnel?
The latest update from our International Business Report (IBR) provided some encouraging signs for the health of the global economy. On the back of easing demand conditions, both investment plans and business confidence are up.
Blog Doing business in India
Doing business in India an interview with Vishesh Chandiok
INTERNATIONAL EXPANSION Mexico
Mexico is the 15th largest economy in the world, the second largest in Latin America and has over 122 million inhabitants. Growth rates remain closely tied to those of its US neighbour and the destination for over 75% of exports. The government hopes that an ambitious programme of reform should boost long-term economic prospects. Read about doing business in Mexico and how it fared in the Global Dynamism Index 2015.
Blog The rise of the cross-border transaction
Our annual look at M&A sentiment around the world shows that the shift in acquisitive focus amongst businesses uncovered last year – from domestic to cross-border – is becoming increasingly popular as a key strategy for companies looking to facilitate growth.
IBR Diversity in decision-making
There was much cause for optimism in our annual look at women in business through the International Business Report (IBR). The survey reveals that the proportion of women in senior management roles has climbed to 24% (up from 21% in 2012), back up to levels seen before the financial crisis.
Tax Transfer pricing news, edition 3
Welcome to the third edition of Transfer Pricing News. This provides updates on transfer pricing developments from a number of countries across the globe – a necessity in the global economy we all now inhabit.
IFRS Liability or equity?
Classification of a financial instrument as either liability or as equity has an immediate and significant effect on an entity’s reported results and financial position. Liability classification for instance affects an entity’s gearing ratios and typically results in any payments being treated as interest and charged to earnings. This guide addresses the key application issues to consider and includes interpretational guidance in certain problematic areas.
IFRS The Conceptual Framework
Grant Thornton International Ltd has commented on the IASB Discussion Paper 'A Review of the Conceptual Framework for Financial Reporting
Blog Doing business in Brazil
Doing business in Brazil an interview with Paulo Dortas
Blog Doing business in South Africa
The outlook has improved somewhat since the ANC’s Manguang conference at the end of last year. It is encouraging for business leaders to see the adoption of the national development plan, with various measures to tackle unemployment, poverty and inequality.
International Business Report (IBR) The irony of skills shortages
I confess to being somewhat surprised when I first saw the most recent data from our International Business Report (IBR), revealing that the number one recruitment challenge for business leaders is  a lack of key technical skills in candidates.
INTERNATIONAL EXPANSION Singapore
Singapore's economy ranks 36th in the world and has a population of just over 5 million people. The economy is heavily dependent on trade flows and the government is promoting an active industrial strategy designed to diversify and strengthen the economy long-term and upgrade the skills of local workers. Below you can read more information about Singapore and its Global Dynamism Index ranking.
Blog What next for the workshop of the world?
On 18 January, the National Bureau of Statistics in China revealed that the economy’s working-age population shrank by 3.45m in 2012. 
IFRS Deferred tax – avoiding the pitfalls
Many companies find the accounting for deferred tax causes significant practical difficulties. This guide summarises the approach required by IAS 12 'Income Taxes' and provides examples of the disclosures required by it. It also looks in detail at some of the more complex areas of preparation of a deferred tax computation, for example the calculation of deferred tax balances arising from business combinations.
Blog From Grexit to Brixit?
The United Kingdom Prime Minister, David Cameron, today set out a path by which the country could leave the European Union by 2017.
Blog The outlook for 2013
The big New Year business story was that politicians in the United States had pulled the economy back from the brink of the ‘fiscal cliff’, albeit slightly later than planned.
Tax Expatriate tax ebook
This Expatriate tax ebook has been designed to provide an overview of the different tax systems around the globe and gives further information about tax systems and regulations in specific countries.
Global Economy Globalisation tied up with red tape
On the one hand, the results from our once-every-two-years look at the world’s leading emerging markets were encouraging. Business leaders across the world are looking at international expansion opportunities. 
Tax Expatriate tax newsletter, edition 8
Grant Thornton understands that multinational tax challenges are among the most complex and expensive issues facing companies with international operations. And expatriate tax issues are a key consideration for companies working across borders.
Blog Doing business in Russia
Your questions answered by Nigel Davies, your questions answered by Nigel Davis
Blog Putting a price on the eurozone crisis
Monday night’s news that international lenders had reached an agreement on how to remedy Greece’s bailout programme, thereby releasing a delayed €34.4bn aid payment, was an important step for the future of the eurozone. But as the crisis drags on and growth rates continue to disappoint, the cost to businesses keeps on rising.
Private Equity Widening the search for growth
On Thursday of last week, I chaired a panel of leading figures from the PE industry – including Paul Canning (HIG Capital Europe), David Whileman (3i), Franceso di Valmarana (Pantheon) and my colleague Mo Merali (Grant Thornton UK) – to launch our 2012 Global Private Equity report: ‘The search for growth’.
Blog New leadership in China and the US
The Philippine economy is growing fast. GDP expanded by 6.8% in 2012 and, whilst remittances climbed to a record high of US$23.8 billion in 2012, their share of GDP actually dropped to 8.5%, down from 9% in 2011. 
Blog Faster growth or greater security?
One of the most interesting aspects of our recent Global Dynamism Index (GDI) was the strong performance of mature economies. It was a result Ed Nusbaum described as counterintuitive in that the word dynamism tends to be attributed to faster growing emerging markets such as the BRIC economies.
Blog Stuck in the doldrums
Economic slowdown hampering business growth efforts. Globally, business optimism dropped for the year ahead from net 23% in Q2 to net 8%, well below the 2010-12 average.
Blog The Olympic legacy: Beijing vs London
The London 2012 Olympic and Paralympic Games were widely regarded as a huge success. Spectators, officials and competitors alike praised not just the efficiency of organisation, but the spirit in which the games were held.
Blog How dynamic is your economy?
The global economy is going through a very difficult phase. Growth in key emerging markets such as China, Brazil and India is slowing. In the United States, the economy seems to be treading water as everyone waits for the presidential elections in November, despite the looming ‘fiscal cliff’. 
INTERNATIONAL EXPANSION Germany
Germany is the fourth largest economy in the world and the largest in Europe. The economy has not proved immune from the sovereign debt crisis in the Eurozone but it remains the third largest exporter in the world –in 2014 Germany recorded the largest trade surplus globally. Here's some guidance about expansion into Germany and how it fared in the Global Dynamism Index 2015.
IFRS Cash flow statements – avoiding the pitfall
Increasing attention on companies’ cash generation and liquidity position has led financial statement users, regulators and other commentators to focus increasingly on the Statement of Cash Flows. However, this additional focus and scrutiny has also highlighted some common errors and inconsistencies in its preparation. This Guide aims to remind management of IAS 7's basic requirements; highlight interpretative and practical application issues; and provide insights to address these issues.
GrowthiQ The impact of corruption
The impact of corruption in Brazil and India
INTERNATIONAL EXPANSION Canada
As the fourth largest oil exporter in the world, Canada avoided recession during the financial crisis, but the dramatic and sustained fall in the global oil price leaves all sectors of the economy vulnerable. It's still coming in as the eleventh largest economy in the world in the 2015 Global Dynamism Index and it's home to 35 million people. Below you'll find tools to inform your international expansion.
INTERNATIONAL EXPANSION China
China is the second largest economy in the world (although the largest on a purchasing power parity basis) and is home over 1.3 billion people. Growth has slowed over recent years as the government rebalances the economy away from investment towards consumption but remains well above 6% per annum. Here is some guidance about doing business in China and how it faired in the Global Dynamism Index 2015.
INTERNATIONAL EXPANSION United Kingdom
The Global Dynamism Index 2015 ranked the UK as the fifth largest economy in the world. It's home to more than 64 million people. Following a deep, prolonged recession, growth rates have been much greater than those achieved by its European neighbours over recent years. Concerns remain around the UK's place in the European Union, possible Scottish independence and the economic dominance of London. Here you'll find more about doing business in the UK.
INTERNATIONAL EXPANSION Russia
According to the Global Dynamism Index 2015, Russia is home to over 143 million people and the tenth largest economy in the world. The drop in the global oil price (which, together with gas, accounts for more than 70% of exports) and economic sanctions following the Ukraine crisis have dampened short-term economic growth prospects. Further economic diversification and investment in infrastructure will be vital to restoring competitiveness. Here's some guidance about expanding into Russia.
INTERNATIONAL EXPANSION Brazil
Brazil is the seventh largest economy in the world and largest in Latin America. It has grown rapidly over the past decade due to an abundance of natural resources and a strong agricultural sector, swelling the middle classes, although investment in transport and power infrastructure are fundamental to ensure its continued economic development. Here is some guidance about doing business in Brazil and how it faired in the Global Dynamism Index 2015.
INTERNATIONAL EXPANSION France
France has a population of over 66 million people and is the sixth largest economy in the world, the second largest in the Eurozone. The sovereign debt crisis has weighed heavily on growth although there are encouraging signs that the reform agenda is starting to gather momentum. Read about its ranking in the Global Dynamism Index 2015 and explore doing business in the country.
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