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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Digital Risk
Grant Thornton offers solutions to the digital risk issues you are sure to face. Our skilled and experienced security team can helping by advising and consulting, giving you peace of mind, clear value for money and an enhanced ability to react to attacks.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Building a successful charity
18 Mar 2020Building capacity through financial management is a vital way of achieving a stronger charity that is more able to proactively control its own affairs. Financial management is the use of financial information, skills and methods to make the best use of an organisation’s resources, and to achieve its social objectives. It can be thought of as the ‘foundation’ of the organisation: if it is strong, the charity can flourish and grow, but if not, the charity may struggle or even collapse.
There are three key principles to strong financial management:
Planning and budgeting
Strong budgeting is key for developing financial management capacity. Preparing a budget for the forthcoming year(s) will assist management in deciding their objectives and estimate the cost of achieving them. It is vital that the charity’s progress is compared with the original budget as the year progresses, and action taken as required –for example, to decrease spending or increase fundraising efforts.
Accounting, record keeping and financial reporting
There are over 6,000 charities now registered with the Charity Commission for Northern Ireland (CCNI). Once registered, charities should make themselves aware of the legal requirements now applicable whilst preparing their financial statements and annual report, which may include having these documents audited or independently examined. Charities that have not yet registered should contact the CCNI regarding registration requirements.
However, the statutory information required by regulatory bodies does not always provide the level of information that is required for managing an organisation and making informed decisions. As the charity grows, more ‘management accounting’ may be required to help it manage its activities more effectively.
Financial controls
Financial management is not only about understanding the financial information and using this accordingly, it is also about ensuring that the right policies and procedures are in place. Without adequate financial controls, the information produced may not be accurate, and may pose a risk to the security of the assets within the organisation. The charity may also be exposed to the possibility of errors or theft. Professional accountants can advise on what systems are needed and suggest ways of implementing them.
Good financial management is not limited to the charity’s accountant or finance team. The board and trustees also have a key role to play. However, since many board members of charities are non-executives, it is essential that strong governance measures are in place. The board has ultimate responsibility for the organisation and its activities, but cannot run it on a day-to-day basis, and delegation is therefore crucial. For this to be successful, it must involve a clear structure and Terms of Reference to ensure everyone involved understands their role and individual responsibilities, and the process should be regularly reviewed. This will allow the board to make informed strategic decisions, building the capacity of the organisation and allowing it to achieve its full potential. Charities do good work for others, but they also need to take care of themselves by embracing good financial practices to ensure their future.