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International Financial Reporting Advisory Services
IFRS reporting advisory serivces of Grant Thornton are carried out by our dedicated team with expertise in IFRS implementation.
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Audit Services
• Statutory audit • Review of financial statements and financial information • Agreed-upon procedures • FRAS services • Compilation of financial information • Reporting accountant • Cross-border audit • US GAAP audit
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Audit Quality
We have various methods of monitoring our system of quality control and engagement quality, including real-time involvement of coaches and national office personnel on select audit engagements, reviews of issuer audit engagements prior to archiving by someone outside of the engagement team, and internal inspections of assurance engagements and the system of quality control.
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Audit Approach
Audit Approach
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Licensing services
Licensing services
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International tax planning
Our extensive international network provides us with significant resources to meet all your expansion goals. We strive to develop commercially focused and tailored tax strategies to minimise tax exposures and maximise business efficiency.
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Expatriate tax planning
We have a broad knowledge base and skills to assist you keep your personal income taxes to a legitimate and reasonable level, while remaining compliant with legislation. We can develop a personalised package for each key employee to take maximum advantage of the exemptions and incentives available.
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Tax advisory
We will review the proposed business model and transactions and advise on tax implications and recommendations to optimize the tax opportunities under the local regulations and treaties which Vietnam entered into. Furthermore, we coordinate with our GT global tax team to provide a comprehensive tax advisory for the countries involved in the business model and transactions.
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Tax compliance services
This service is designed to assist enterprises to cope with the statutory tax declaration requirements in line with the Vietnamese tax laws as well as the frequent changes and updates in tax laws.
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Tax health check
Our Tax Health Check involves a high-level review of specific tax areas to highlight the key issues that need to be rectified in order to reduce tax risks. Through our extensive experience, we have identified key risk areas in which many enterprises are not fully compliant or often overlook potential tax planning opportunities. Our tax health check service represents a cost-effective method to proactively manage risks and reduce potential issues arising as a result of a tax inspection.
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Transfer Pricing
Transfer pricing is a pervasive tax issue among multinational companies. In Vietnam, the tax authorities require special documentation to report related party transactions. Compliance with transfer pricing regulations is an important aspect of doing business effectively in Vietnam as failure to do so may result in significant penalties.
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Tax due diligence
We conduct tax due diligence reviews of target companies to analyse their tax exposure and position in relation to acquisitions, mergers or consolidations. We are able to integrate this service with our Advisory Services department in order to offer a comprehensive, holistic due diligence review.
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Customs and international trade
Our experienced professionals can help you manage customs issues more effectively through valuation planning and making use of available free trade agreements. We also assist Clients in optimising their customs procedures by making use of potential duty exemptions and efficient import-export structures. Risk mitigation activities include customs audit defense and compliance reviews.
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M&A Transaction
We advise numerous foreign investors on efficient tax structures for their investments. Our experience allows you to consider all the options and set up a corporate structure that meets both operational and tax efficiency requirements. In short, the structure that is best for you.
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Industrial Zones – Picking A Location For Your Business
Grant Thornton Vietnam’s one-stop services are designed to provide comprehensive support to both new and current investors who are planning to expand or restructure their business in Vietnam. Our professionals have established strong working relationships with landlords, property developers and authorities at various localities. With extensive experiences in liaison with the relevant agencies, we offer assistance including negotiation on land rental rates and efficient management of licensing process. Our customized and flexible solutions can bring benefits of cost efficient location, accelerate licensing process, and optimize tax opportunities while remaining in compliance with legislation.
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Tax Audit Support
Tax audit support services provide comprehensive assistance to your business in Vietnam. Recent tax practices have shown the general tendency of launching routine tax audit on yearly basis. Tax authorities have been effectively using more sophisticated methods to identify target entities from across different industry sectors.
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Business Risk Services
Business Risk Services
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Transaction Advisory Services
Transaction Advisory Services
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Valuation
Valuation
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Business consulting services
Finance Management Advisory
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Accounting services
Accounting services
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Taxes compliance within outsourcing
Taxes compliance within outsourcing
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Payroll, personal income tax and labor compliance
Payroll, personal income tax and labor compliance
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Secondments/Loan staff services
Secondments/Loan staff services
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Compilation of the financial and non-financial information
Compilation of the financial and non-financial information
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Accounting systems review and improvement
Accounting systems review and improvement
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Initial setting-up for accounting and taxes systems
Initial setting-up for accounting and taxes systems
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Management accounting and analysis
Management accounting and analysis
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Comprehensive ERP system solution
ERP software is a tool for business operations, production management, order processing and inventory in the business process. Today, ERP software for small and medium businesses has been greatly improved to help businesses manage their business better. The article below will answer all relevant information about what ERP software is and offer the most suitable ERP solution for businesses. Let's follow along!
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Analyze Business Administration data
We believe in the value that data can bring to the success and development of every business. Our team helps design data architecture supported by tools, to support business governance and provide useful information to management.
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Financial reporting compliance solution package
Putting financial issues at the heart, this service helps ensure that financial reports for customers comply with both the requirements of Vietnamese accounting regulations and standards (VAS) as well as reporting standards. international finance (IFRS).
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Third-party ERP extensions
ERP is a long-term solution that requires long-term travel, not short-term. We understand that many businesses cannot deploy the entire ERP system at once due to many different reasons, instead businesses can deploy each part. Over time, these solutions can be expanded to accommodate improved business processes or can even link completely new processes across different departments.
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Localize, deploy and rebuild the project
Quite a few ERP projects need to be implemented according to current Vietnamese requirements and regulations, but still comply with common international business requirements. These projects need some improvements and adjustments in the right direction.
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Consulting on technology solutions
We support the selection and implementation of the most suitable solutions, ensuring business efficiency and performance. We will work closely with customers to plan, evaluate and implement the right technology investment strategies and solutions to meet the development needs of businesses.
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Offshore company establishment service
Using the offshore company model will facilitate the owner in the process of transaction and expand overseas markets, take advantage of the tax policy with many incentives and protect the value of the family enterprise's assets.
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Private Trust Advisory
The development of the economy with many modern financial instruments has brought many advantages and opportunities for the enterprises, but there are still certain potential risks in any type of business. So how to protect your asset value with an appropriate company structure while stay compliance with relevant regulations?
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Our values
We have six CLEARR values that underpin our culture and are embedded in everything we do.
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Learning & development
At Grant Thornton we believe learning and development opportunities help to unlock your potential for growth, allowing you to be at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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Contact us
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Available positions
Experienced hires
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Available positions
Available positions
Global survey reveals challenge of buying well in today's private equity market
In the post global financial crisis phase, the question being asked more than ever is: how can private equity deliver its value-added promises? The fourth edition of the Grant Thornton Private Equity Report, an annual survey of 175 senior industry practitioners around the globe, finds a new focus on returns rather than entry multiples; secondary buyouts increasing in importance; and thirdly the significance of management in delivering the new plan.
Martin Goddard, partner at Grant Thornton UK LLP, said "Whilst the private equity market has benefited from wider exit options, an improvement in the fundraising climate and the easing of debt finance markets, the strong competition for deals that this environment creates has made it a real challenge to find good quality deals at good prices.
"More competition means one thing: higher prices. Higher prices at entry make it harder to achieve attractive returns at exit. This is driving a clear focus on the question around how sufficient value will be generated to justify the costs and returns associated with private equity capital."
It’s less about entry multiples and more about returns
This year’s survey shows that GPs expect entry multiples to continue to increase over the coming year. Not surprisingly, multiple arbitrage is seen as a far less significant driver of value than it once was. Only 2% of respondents highlight it as a key driver, while 66% underline the importance of portfolio company performance improvement. What is more, the majority of GPs regard themselves as ‘growth investors’, as opposed to ‘value investors’, further showing an acceptance of the need for a transformational approach to portfolio management in order to build the desired returns in today’s market. So while finding value remains important, it is more about having a strategy for generating performance improvement after the deal.
Martin Goddard continued: "Today’s ultra-competitive market requires an increased focus on performance improvement if the returns GPs are striving for are to be achieved. GPs will need to consider what impact this may have on their fundraising and liquidity realisation strategies if this emphasis implies longer hold periods within their portfolios.”
Secondary buyouts are a serious buy-side option, not just an exit make-weight
Secondary transactions are now a key part of the private equity market and are here to stay. Over two thirds (68%) of respondents believe the level of secondaries will increase over the coming year. Only 3% expect a decrease. Pressure on buying GPs to do deals and selling GPs to generate liquidity, as well as overall market maturity, are the main drivers of this continuing trend. The results suggest that GPs believe they are more likely to be net sellers than net buyers in terms of secondary deals (66% vs. 26%).
While there may be less value-add potential with secondary assets from the perspective of the buying GP, the fact that a company has already been through a private equity cycle has clear benefits for the acquirer. In a market where deal origination is challenging, a premium is increasingly placed on greater transparency and lower deal execution risk.
Martin Goddard added: “The questions of whether sufficient value has been left on the table, and how the perceived value can be unlocked, will feature strongly in decision making for secondary transactions. Understanding how the motivation of the management team may change if they are permitted to realise value as part of the transaction will be a key consideration in addressing these questions.”
It pays to understand management team capability early in the deal process
Over three quarters of respondents believe that buying a good company in an average market is better than buying an average company in a good market. Much of what defines a good company, and indeed a key reason for GPs paying a premium, comes down to the strength of the management team in GPs’ eyes.
In the current environment especially, being able to accurately assess management’s ability to implement the post-acquisition plan is a vital part of investment decision making. Despite this, management issues are the single largest reason for a deal to collapse at the due diligence stage, suggesting that GPs need to assess and addressing management quality as early as possible within the deal cycle.
Martin Goddard commented: “As part of the origination process, investors are often able to form a good view of the capability of a narrow selection of the senior management team. A far broader and deeper perspective is needed of the entire management team's ability to deliver a new business plan. More emphasis on developing this understanding, ahead of detailed diligence processes, is a valuable step in mitigating deal execution risk.”
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