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Sector Focus
We specialise in the investment management industry offering audit, assurance, tax and corporate recovery and liquidation services.
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Personal Tax Services
There are many tax rules that can affect you personally and therefore which will have an impact on your personal wealth.
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QI Compliance
Qualified Intermediaries (QI) have to take action now to perform a Certification to the Internal Revenue Service (IRS).
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Download our tax brochures
The Guernsey tax team at Grant Thornton aim to provide the island with a premier tax advisory service both to private clients and the Guernsey business community including the investment management industry.
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Jersey Tax Return
A page with a link for Jersey Tax Returns
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ESG
ESG can either be seen as a risk management tool or an opportunity, either way it is imperative to your business, whatever your size and whether you are listed or not.
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Professional Services
Business and accounting support for professional services
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Finance Industry
We work with a broad range of clients and their financial stakeholders, from entrepreneurs in the early days to fast growing and established businesses to public companies competing in global markets.
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Local Businesses
Businesses come in many shapes and sizes – from innovative start-ups to long-established local businesses. But however large or small your business, the chances are you face similar challenges.
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Corporate Insolvency
Our corporate investigation, Guernsey liquidation and recovery teams focus on identifying and resolving issues affecting profitability, protecting enterprise value and facilitating a full recovery where possible.
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Corporate Simplification
Redundant corporate entities can over complicate group structures and waste thousands of pounds in unnecessary costs each year. 46% of the c.15,500 companies controlled by the FTSE100 are dormant and it is estimated that the average cost of administering dormant companies is between £3,500 and £5,000 per company, per year.
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Debt Advisory
Our Debt Advisory team provides commercial and financial debt advice to corporate entities and public sector bodies in a range of sectors. Our engagements include advice on stand-alone transactions and solutions or as part of an integrated business plan, in both the project and corporate arenas.
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Exit Strategy Services
We offer a tailored methodology designed to enable a company to be reviewed in a group context to assess ways to maximise its value.
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Financial Restructuring
For companies challenged by under-performance we work with management teams, shareholders, lenders and other stakeholders to implement financial restructuring solutions creating a stable platform for business turnaround.
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Strategic performance reviews
Strategic performance reviews analyse the key drivers of performance improvement. Our specialists utilise a framework to evaluate financial and operational options and to identify solutions for businesses and their stakeholders.
Technology
Managing your stability and digital risk
To accomplish social distancing while maintaining operations, most businesses are going online. Remote working is completely new to many, while working exclusively from home is a huge change for most people.
The demands we are placing on remote-working technology to support this are extensive, both in terms of capacity and security. Businesses that are able to manage digital risk while providing stability may come out on top.
Potential issues
Stabilising services across your networks is a key issue, as the pressure on local broadband infrastructure may mean failures or reduced access. For many organisations, remote systems will be under significant strain, which may impact performance.
Implementing new technology may have to wait until the outbreak is over so teams can focus on continued operation. Untested software could be unstable and it would be best to use existing solutions for the time being. Roll-outs may need to be paused or revised, but should be ready to be restarted at the right time.
Engaging with consumers without physical interaction is a major change for many organisations. Key questions need to be asked about how to manage communications, as well as ensuring website infrastructure can handle the increased digital load. Systems need to keep customers informed and process their orders without relying on front-line staff.
Securing your systems and data is essential, but are organisations and people reacting as quickly as they could? Patches are being put in at short notice, but questions will arise about how secure these may be. People working remotely may be using inappropriate facilities (such as personal Drop Box accounts) as temporary solutions where approved systems fall short.
Actions to consider
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Assess
AssessFocus internal audit on checking resilience and continuity arrangements. Identify where technology and programmes are working and where they are falling short. How will you run back-ups and are they in accessible locations, should it be required?
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Protect
ProtectConsider increasing your system capacity in the short term to ensure it is sufficient, and make sure all internet-connected devices and services are patched and kept up to date. Prioritise patching high-risk applications that will be used extensively during the quarantine period. Ensure cloud systems have been configured appropriately for security and understand exactly who’s responsible where you are operating IaaS, SaaS and other hosted environments. Run regular external vulnerability scans and reinforce security policies, such as what to do when a device is lost.
Make sensible decisions when sharing information about people who may have the virus, for example with a healthcare agency. Data protection law is no barrier to sharing information where necessary to safeguard someone’s health.
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Restore
RestoreAre you prepared for a return to business-as-usual? There will likely be a spike in demand once other concerns are out of the way. If you relaxed segregation of duty controls during the outbreak, are you ready to monitor transactions when they are reinstated?
Have you thought about how your estate will look after all this is done? With remote working becoming commonplace, is this something that could be beneficial to continue? What learnings can you take away from the crisis?
Consider these questions
- Do your employees understand and abide by a formal remote-working policy, and is it effective and secured against cyber security risks?
- Will your team - including IT support staff and third-party teams - be able to cope with remote working and large numbers of staff absences?
- Have you managed the access rights, VPN requirements and cloud security settings of all the members of your team who now need to work from home?
- Have you conducted external reconnaissance of your digital presence, penetration testing and checked the availability and security of your key outsourced systems?
- Can alternative techniques, such as data analytics, be introduced or leveraged further to provide visibility of risk and control effectiveness?
