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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
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Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
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Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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Expert witness
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Financial models
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Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
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IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
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Mergers and acquisitions
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Raising finance
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
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Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
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Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
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Cloud services
Our team is led by cloud business experts who tailor services to the needs of your organisation, from strategy and implementation to ongoing services assurance.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Organisational & cultural change
The key to sustainable and future growth is a unified organisation operating within a strong cultural context, where transparency and communication are the priority for Kaimahi, and where visible leadership means walking the talk – but where does that journey begin?
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
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Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
Budget 2015: is Kiwi ingenuity in danger of becoming a distant memory?
Is Kiwi ingenuity in danger of becoming a distant memory?
The criteria and processes of Callaghan Innovation grants have been recently called into question by opposition MPs. Irrespective of whether Callaghan is contributing to our economy’s productivity or generating a significant ROI for every dollar granted, it’s a positive step in the right direction. The bigger issue is the actual lack of R&D and innovation activity in New Zealand businesses and our lack of presence on the world’s business stage.
Is kiwi ingenuity becoming a thing of the past? Hopefully not.
The Government is ahead of the eight ball here. Minister of Finance, Bill English, has already stated that this year’s Budget will continue to support the Government’s Business Growth Agenda. This is crucial in making the most of the opportunities available to New Zealand businesses in international markets to grow the economy and increase investment in skills and innovation.
But is it enough? We are a nation of SMEs, but what is the level of business acumen amongst these businesses? Unfortunately not as high as we would like and we are not really looking to “upsmart” our business practices.
Latest data from Statistics New Zealand shows in the period between 2012 and 2014, investment in basic and applied research has dropped by $17m to $658m and $61m to $1019m respectively. Expenditure in experimental development has increased by $71m to $942m in the same period. However, the data also shows that R&D has grown at a slower rate than GDP. Expenditure as a percentage of GDP has fallen from 0.57% to 0.54% in these two years.
Recent research conducted by Grant Thornton shows at the end of Q4 2014, only 18% of businesses surveyed are expecting to increase their expenditure in R&D, and we are spending less than our major trading partners who predict more R&D spending; China (37%), United States (37%) and the United Kingdom (23%).
An area of focus for Budget 2015 could be driving innovation through the education system and stepping outside the realms of the core curriculum and conventional teaching practices. A good example here is Unitec’s partnership with Mindlab, a new facility that teaches educators and young people key digital and technological literacy capabilities. This is a great pre-emptive strike against lack of job security for future generations.
We should also be thinking about:
- the relevance of the traditional skills being taught at University and if they are fit for purpose in today’s business world
- building stronger relationships and better programmes between the business and education sectors
- what we can do to better educate business owners
- incentivising business owners to set aside time and space for employees to innovate and upskill.
But that’s not to say New Zealand businesses are not aware of the importance of being innovative.
Another survey conducted late last year by Grant Thornton showed only 8% of businesses surveyed place low importance on innovation, the remainder stated it was important (28%), very important (56%) or critically important (8%). So what’s the hold up? The same survey revealed that respondents felt certain aspects of their business model needed improvement; the top four areas of concern were business strategy (63%), digital strategy (53%), internal processes (55%) and their go to market plans (33%). That is why any boost from the Government will be well received
And when asked what they feared would derail their growth plans, a staggering 38% of businesses cited the capability of their people.
Many businesses owners are ambitious, hardworking and smart, and they are aware of their short comings, so any assistance the Budget can give them to help overcome these will be repaid many times over in boosting the New Zealand economy.
The time to reignite the fire we once had for ingenuity and innovation is now. Budget 2015 is a prime opportunity for Government to fan the flames.
Further enquiries, please contact:
Vanessa Black
Partner, Audit
Grant Thornton New Zealand
T +64 (0)9 308 2985
E vanessa.black@nz.gt.com