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Insights

IFRS Reporting the impact of COVID-19
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial
Resilience Wheel The Resilience Wheel: where to focus your business in stressed or distressed conditions
With the rising impact of COVID-19 being seen worldwide, all industries will face significant disruption to their supply chain, workforce and cashflow. The
Global news COVID-19 - The precautionary measures we are taking
We are living in unprecedented times right now and remain vigilant and agile to the changes being enforced by our local government and health authority.
UK Budget 2020 The UK Budget – Was it anything to make a song and dance about?
One had to feel a little bit sorry for Rishi Sunak as he stood to deliver his first Budget. He has only been in office 5 minutes, Brexit in reality has only
Tax The UK tax landscape is changing for Non-Resident Landlords
From 6 April 2020, there will be fundamental changes to the UK Tax treatment of non-resident landlord (“NRL”) companies.
INTERNATIONAL BUSINESS REPORT (IBR) Women in Business 2020
Over the last 12 months, our women in business research has drilled down into the gender diversity stats of mid-market organisations around the world, looking
IFRS Navigating the changes to IFRS 2020
Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will
IFRS Alerts Classification of Liabilities as Current or Non-current
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
Insolvency Law Reform Guernsey Insolvency Law Reform
On 15 January 2020, the States approved the Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (“the Ordinance”). It is anticipated that
Tax Guernsey Company Tax Residence
There have been dramatic changes to the previously long standing Guernsey definition to determine which companies are considered Guernsey tax resident from
IFRS IFRS News - Q4 2019
In this edition of IFRS News we begin by considering the latest news from the IASB and conclude with IFRS-related news at Grant Thornton.
Acquisitions Grant Thornton expands in Guernsey with the acquisition of Price Bailey
Grant Thornton expands in Guernsey with the acquisition of Price Bailey
IFRS IFRS 3 - Definition of a Business
In October 2018, the IASB issued ‘Definition of a Business’ making amendments to IFRS 3 ‘Business Combinations’.
Global news Grant Thornton Channel Islands shortlisted for Firm of the Year
Grant Thornton Channel Islands has been shortlisted for Firm of the Year as part of Grant Thornton’s annual Experience Awards taking place at the British
Tax Cloudy with a chance of complacency
The OECD’s latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy
IFRS IFRS Alerts
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
IFRS IFRS News - Q3 2019
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
Falling economic optimism Mid-market companies lower growth expectations amid falling economic optimism
The world’s leading survey of mid-market companies, Grant Thornton’s IBR, once again provides vital insight into the health of the global mid-market. These
IFRS Example Financial Statements 2019
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and
IFRS Alerts Classification of Liabilities as Current or Non-current
Loan agreements often include covenants that, if breached by the borrower, permit the lender to demand repayment before the loan’s normal maturity date.
IFRS IFRS News - Q2 2019
We begin this second edition of 2019 by considering the IASB Exposure Draft ‘Interest Rate Benchmark Reform’.
Tax alert Channel Islands new Substance rules
At last the Tax Offices have issued the long awaited guidance notes. Unfortunately those expecting much actual substance within them will, we fear, be left
Cyber Security The Peculiarities of mergers, acquisitions and de-mergers
Mergers, acquisitions and de-mergers creates various challenges, risks and responsibilities that the organisation can be held accountable for.
Interim consolidated financial statements 2019 Interim consolidated financial statements 2019
The Interim Financial Statements illustrate a six month accounting period beginning on 1 January 2019.
IFRS 16 Lease payments
At the commencement of a lease, IFRS 16 requires a lessee to measure the lease liability at the present value of the lease payments that are not paid at that
Women in business Building a blueprint for action
Grant Thornton’s Women in business report 2019: building a blueprint for action
INTERNATIONAL BUSINESS REPORT Thriving in 2019’s global economy
The global economic cycle has peaked and businesses face a more downbeat outlook in 2019. With risks increasing, how can businesses continue to achieve growth
IFRS 16 Sale and leaseback accounting
IFRS 16 makes significant changes to sale and leaseback accounting. A sale and leaseback transaction is one where an entity (the seller-lessee) transfers an
IFRS IFRS News - Q1 2019
We begin this first edition of 2019 by considering the potential financial reporting implications of the UK leaving the European Union without a transition
IFRS 16 Transition choices
Many recent accounting standards include significant transition reliefs to make first time application simpler – IFRS 16 is no exception. Appendix C to IFRS 16
Global news Grant Thornton collaborating globally
We asked our leaders around the globe what's special about Grant Thornton and how this benefits our clients. They describe a changing world where the
Restructuring Notice Liquidation of Bellzone Mining plc
Alan Roberts and Ben Rhodes of Grant Thornton Jersey were appointed Joint Liquidators of Bellzone Mining plc
IFRS Navigating the changes to IFRS 2018
Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will
IFRS 16 Lease term
Under IFRS 16 ‘Leases’, determining the correct ‘lease term’ is significant for a number of reasons.
Corporate Governance Review Corporate Governance Review 2018
The UK is witnessing a battle to restore trust in business – after a succession of corporate collapses, governance failings and controversial pay awards have
IFRS 16 Understanding the discount rate
In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 ‘Leasing’, which represents the first major overhaul in lease accounting
Global News World’s Most Attractive Global Employers
Grant Thornton named one of the 50 'World’s Most Attractive Global Employers' for fourth consecutive year! Grant Thornton is one of the 50 ‘World’s most
Tax Alert EU Substance for Guernsey
As you will know from earlier news, Guernsey has been negotiating this year to formalise just what the EU’s requirements for ‘substance’ need to include.
IFRS IFRS News - Q4 2018
We begin this final edition for 2018 with an article on the recently issued IASB publication ‘Definition of Material – Amendments to IAS 1 and IAS 8’, before
IFRS News Example Financial Statements 2018
Each year the requirements of International Financial Reporting Standards (IFRS) change. New Standards and Amendments become effective and these determine the
Information Security Cyber Security Survey Results
Grant Thornton’s summer 2018 cyber security survey of Channel Islands organisations produced some intriguing and in some cases surprising results
UK Budget I don't mind Mondays - yesterday's UK Budget
Yesterday's first Monday UK Budget for over 56 years was neither manic nor blue. The Chancellor tried to deliver an upbeat giveaway budget with a promise that
Tax Tax changes for non-resident property investors: what next?
We all know the UK government announced its intention to extend UK CGT to commercial property and all indirect property interests, and earlier this month we
IFRS IFRS News - Q3 2018
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,
IFRS Accounting for crypto assets
Currently, IFRS does not provide specific guidance on accounting for crypto assets. This IFRS Viewpoint seeks to explore the accounting issues that arise for
Tax What does the Finance Bill mean for real estate tax?
While Government’s key announcements in the Finance Bill and other recent changes aim to provide certainty for the real estate sector, uncertainty still
Information Security It’s 2018: why are our systems still insecure?
We continue to hear sorry tales of companies’ systems being hacked: as I write this, the latest big story
IFRS News IFRS Example Interim Consolidated Financial Statements 2018
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and
IFRS News Quarter 2 2018
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,
Women in business Beyond policy to progress
Women in business
Women in business Beyond policy to progress
Women in business
IFRS Potential accounting consequences of the US tax reform
Potential accounting consequences of the US tax reform for IFRS preparers
Women in business Diversity snapshot
Women in business
IFRS IFRS News - Q1 2018
What has been happening lately in IFRS
Tax Taxation in real-time: Gearing up for blockchain
A page to describe the changes that the Tax industry will have to make to accommodate Blockchain technology
IFRS IASB issues Plan Amendment, Curtailment or Settlement
an IFRS alert about the IASB issuing amendedments to IFRS 9
IFRS IFRS News - Q4 2017
What has been happening lately in IFRS
IFRS IASB issues Long-term Interests in Associates and Joint Ventures
an IFRS alert about the IASB issuing amendedments to IFRS 9
IFRS IASB issues Prepayment Features with Negative Compensation
an IFRS alert about the IASB issuing amendedments to IFRS 9
Tax Alert Criminal Finances Act
A page to show the Criminal Finances Act that was released in September 2017
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