-
Financial administration & outsourcing
Entrepreneurs who outsource financial administration reduce the number of administrative tasks and consequently have more time and space to focus on growth.
-
Financial insight
We help you turn financial data into valuable insights that support you in making well-founded decisions. In-depth analyses of your financial situation will help give you a better idea of where you stand and where the opportunities for growth lie, both in the short and long term.
-
Financial compliance
We make sure your company complies with financial legislation and regulations, with correct financial statements, tax reports and other obligations. From our global network, we support you in managing local and international tax risks.
-
Impact House by Grant Thornton
Building sustainability and social impact. That sounds good. But how do you go about it in the complex world of stakeholders, regulations and frameworks and changing demands from clients and society? How do you deal with important issues such as climate change and biodiversity loss?
-
Business risk services
Minimize risk, maximize predictability, and execution Good insights help you look further ahead and adapt faster. Whether you require outsourced or co-procured internal audit services and expertise to address a specific technology, cyber or regulatory challenge, we provide a turnkey and reliable solution.
-
Cyber risk services
What should I be doing first if my data has been kidnapped? Have I taken the right precautions for protecting my data or am I putting too much effort into just one of the risks? And how do I quickly detect intruders on my network? Good questions! We help you to answer these questions.
-
Deal advisory
What will the net proceeds be after the sale? How do I optimise the selling price of my business or the price of one of my business activities?
-
Forensic & integrity services
Do you require a fact finding investigation to help assess irregularities? Is it necessary to ascertain facts for litigation purposes?
-
Valuations
Independent and objective valuations tailored for mergers, acquisitions, and legal matters.
-
Auditing of annual accounts
You are answerable to others, such as shareholders and other stakeholders, with regard to your financial affairs. Financial information must therefore be reliable. What is more, you want to know how far you are progressing towards achieving your goals and what risks may apply.
-
IFRS services
Financial reporting in accordance with IFRS is a complex matter. Nowadays, an increasing number of international companies are becoming aware of the rules. But how do you apply them in practice?
-
ISAE & SOC Reporting
Our ISAE & SOC Reporting services provide independent and objective reports on the design, implementation and operational effectiveness of controls at service organizations.
-
National tax advice
Looking for tax advice in the Netherlands? We help business owners with tailor-made tax advice: from structure and compliance to innovation and sustainability.
-
International tax advice
Plan to do business abroad? Our international tax advice helps you with structure and compliance, as well as offering new opportunities. Strategic, practical, and future-oriented.
-
Private wealth services
Our Private Wealth specialists offer strategic and practical solutions. From tax advice to estate planning and financial scenarios, we make sure you make the right choices today, for tomorrow.
-
Corporate Law
From the general terms and conditions to the legal strategy, these matters need to be watertight. This provides assurance, and therefore peace of mind and room for growth. We will be pro-active and pragmatic in thinking along with you. We always like to look ahead and go the extra mile.
-
Employment Law
What obligations do you have with an employee on sick leave? How do you go about a reorganisation? As an entrepreneur, you want clear answers and practical solutions to your employment law questions. At Grant Thornton, we are there for you with clear advice, from contracts and terms of employment to complex matters such as dismissal or reorganisation.
-
Sustainable legal
At Grant Thornton, we help companies integrate sustainability into their business operations, with sustainable legal at the heart of our approach. We advise on ESG (Environmental, Social, Governance) legislation, and help draft sustainable contracts, implement HR policies, and carry out ESG due diligence in M&A transactions (Mergers and Acquisitions).
-
HR Services
HR is not an aspect of secondary relevance, rather a strategic factor for success. Yet many organisations struggle with issues regarding personnel policy, absenteeism, terms of employment and legislation and regulations.
-
Payroll & wage tax
Payment of salaries is not a simple calculation. Laws and regulations constantly change, and mistakes can quickly cause employees to be dissatisfied or lead to tax risks.
-
Compensation and benefits
The labour market is changing rapidly. Employees want flexibility, a sense of purpose and a good mixture of financial and non-financial benefits.
-
Pension advisory services
Pension is more than an obligation. It is a strategic term of employment that touches upon your employer brand, financial scope and responsibility to provide for your employees.
-
Global mobility services
How can you build and evolve a smart global mobility strategy, with policies and processes addressing the complex challenges of managing an international workforce?
The directive aims to increase the quality of information and transparency about sustainability matters of companies, and thereby support the transition to a sustainable economy following the Paris climate agreement and EU Green Deal. For many organisations, the proposed CSRD timeline means they need to start preparing in order to be ready by 2023 and meet the CSRD obligations. What does this mean for your company?
Who does the CSRD apply to?
The CSRD is an extension of the existing European directive on sustainability reporting: the Non-Financial Reporting Directive (NFRD). This NFRD came into effect in 2018 and requires public interest companies (such as banks, insurers and publicly traded companies) with more than 500 employees to report on how they deal with issues such as environmental pollution, social responsibility, human rights and diversity.
The CSRD significantly broadens the scope of entities that have to report: The CSRD applies to all listed entities, as well as to large entities that meet 2 of the following 3 criteria:
- More than 250 employees.
- More than 40 million turnover.
- More than 20 million on the balance sheet.
In line with the NFRD, about 100 Dutch companies (12,000 in Europe) were already required to report on their sustainability performance; With the CSRD, this obligation will apply to around 50,000 organisations in Europe.
What obligations apply under the CSRD?
In addition to requiring more companies to report, there will also be additional reporting requirements under the CSRD. The format and exact criteria for reporting are still under development. In any case, the reporting must contain the following components:
- Data based on the double materiality principle: 1) Which sustainability risks and opportunities may result in financial materiality for the organisation (e.g. raw materials scarcity or production disruptions due to extreme weather conditions, but also transition risks such as reputational damage). And 2) Which material impacts the company has on people and environment (such as loss of biodiversity or human rights violations in the value chain).
- Forward-looking information: Information about the company's long-term sustainability goals, and progress toward those goals (as opposed to just results in a given year).
- Results on environmental impact (where relevant in line with the EU Taxonomy Regulation) as well as social impact, at minimum about: social and employee matters, diversity, anti-bribery and corruption and human rights.
- Linking reporting in line with other recent European regulations: the Sustainable Finance Disclosure Regulation (SFDR) and EU Taxonomy.
In addition to substantive requirements, a limited assurance on the report by an accountant is required as well as making the report available in electronic (XHTML) format. These requirements are expected to make an important contribution to increasing the quality and comparability of sustainability reports.
CSRD must contribute to achieving the goals of the Paris Climate Agreement
The regulations, linked to the EU Green Deal, should provide more relevant and comparable information on sustainability policy and results. This will provide more insight into the progress of Europe and European companies towards the goals of the Paris Climate Agreement (net zero emissions, and keeping global warming below 1.5 degrees). Integration of financial and non-financial data within company reporting is important to ensure that companies can better focus on broader value. The CSRD does not stand alone in this. Earlier this year, the Sustainable Finance Disclosure Regulation and EU Taxonomy came into effect, and a guideline on Sustainable Corporate Governance is expected later this year. These laws and regulations offer more and more frameworks around and vision on the responsibilities of companies in a more sustainable economy.
How do you prepare?
Although the first reporting obligation under the CSRD will apply from 2023, many companies already have to prepare or update their sustainability strategy on which the reporting is based in the run-up to this. As well as setting up processes and systems for data collection based on sustainability indicators and guaranteeing the quality of that data.
Would you like to know more about the CSRD, what it means for your company, and how you can prepare for it? Contact our specialists.