As organizations increase their reliance on contract-based relationships to gain a competitive advantage, the fulfillment of those contractual obligations has become more critical and challenging. Understanding the delicate balance between achieving inspection goals and preserving business relationships is a component of contract compliance that is always front of mind. Grant Thornton’s approach helps our clients identify, evaluate, and mitigate risks associated with external business relationships to help assure contracted third parties comply with required commitments.
Increasingly, internal audit functions seek to drive efficiencies and decrease costs, leveraging innovations to improve outcomes. Internal audit functions are being asked to provide the business with more than compliance services, emphasizing the need to also deliver value-added insights. We work collaboratively with businesses to help transform traditional internal audit functions into strategic business contributors, and provide assessments that identify inefficiencies and gaps to best practices, as well as opportunities for improvement and related value-enhancing recommendations.
Controls test automation
Grant Thornton can help audit departments use automation to reduce costs, create efficiencies, and enhance their value proposition to the business. We help automate control testing to increase reliability, effectiveness, and compliance controls — reducing testing from hours or days to minutes.
Our mission is to combine experience in all areas of fraud and financial crime prevention with insight into real-world operational challenges and regulatory expectations in order to safeguard our clients’ most valuable assets from fraud by delivering innovative, tailored solutions that enhance integrity and accountability.
Grant Thornton’s team of experienced risk management specialists helps organizations to strategically transform their operations and operational risk programs and strengthen their risk preparedness. We guide clients in designing and implementing internal controls to safeguard assets and develop cost-effective programs to address the Sarbanes-Oxley Act and other requirements, while enhancing internal audit and organizational performance. A core capability is assisting organizations with a strategic controls framework built around automation and analytics.
Regulatory compliance consulting
Today’s organizations are operating in an increasingly complex regulatory environment. Our experienced team of regulatory and compliance specialists provide in-depth technical knowledge on emerging regulations and help organizations leverage efficiencies. With comprehensive compliance optimization strategies, we help clients remediate regulatory gaps, streamline operations and limit risk exposure.
Grant Thornton’s team of experienced risk management specialists help organizations strategically and functionally transform risk management programs to strengthen risk insights and to drive enhanced resilience in an increasingly complex and volatile marketplace.
Even as manufacturers manage disruptions to their business and anticipate financial and operational implications, the industry is keenly focused on producing the crucial products needed to overcome COVID-19 challenges.
Given the myriad of issues facing nonprofit organizations that are being asked to do even more with less, leadership is challenged in considering the full impact of COVID-19.
The COVID-19 environment has created unprecedented economic times for all of real estate. The impact of what is happening today will change the course of your company three to six months from now and beyond. Assessing the immediate and long-term impacts now will pay off as you align your company strategy to the new normal.
Technology is stepping up to the challenge in the COVID-19 era. Remote working arrangements and social distancing have placed an even greater reliance on the use of technology to operate. Worker remote connectivity, increased use of online transactions and other essential activities are driven by capabilities in software, hardware and networking.
Sarbanes-Oxley (SOX) compliance
Robust internal controls over financial reporting (ICFR) is a sound business practice for all organizations and is required for all public companies. However, many continue to struggle with designing and operating a cost-effective and efficient ICFR environment and SOX compliance program. Grant Thornton’s SOX readiness and compliance services help our clients design and operate ICFR environments and SOX compliance programs that focus on (1.) the right key controls and (2.) extensive collaboration with all stakeholders. With flexibility either to leverage our SOX compliance technology platform and methodology or leveraging your own, you will benefit from an efficient program with fewer surprises and often lower overall audit costs.