1st Quarter 2018

Grant Thornton on growth path

Grant Thornton Abdulaal, a leading Bahrain-based audit and advisory firm, has seen a manifold growth in employees and in the business in the past decade.

In a statement issued after the firm’s annual staff retreat, managing partner     Jassim Abdulaal said, “Grant Thornton Abdulaal has exhibited exponential growth in the past decade, growing from seven employees and 70 clients in 2006 to 100 employees and more than 1,200 clients at present.”

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GT Abdulaal launches calendar 2018.

Grant Thornton Abdulaal, a leading Bahrain-based audit and advisory firm, has seen a manifold growth in employees and in the business in the past decade.

In a statement issued after the firm’s annual staff retreat, managing partner     Jassim Abdulaal said, “Grant Thornton Abdulaal has exhibited exponential growth in the past decade, growing from seven employees and 70 clients in 2006 to 100 employees and more than 1,200 clients at present.”

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Grant Thornton welcomes 2018 with key milestones: new global CEO and new global revenue record

Grant Thornton begins a new chapter as Peter Bodin takes office as CEO of Grant Thornton International Ltd (GTIL) and the global revenues reach USD5bn for 2017.

 “Delivering record global revenues of USD5bn and reaching 50,000 people worldwide is a great achievement, thanks to the skill, hard work and dedication of our people. We now have a strong platform to create the next generation professional services organisation we want to become. I am honoured and excited to lead Grant Thornton as we begin our next chapter,” Peter Bodin said.

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Grant Thornton Abdulaal welcomes new director for IT Advisory

Navneet Sharma joins the firm as Director for IT Advisory. Navneet brings with him over 16 years of experience in Information Security, IoT, FinTech, Business Continuity & Resilience, E-Commerce, and Project Management with Big Four and other international consulting firms.

As Head of IT Advisory, Navneet will closely work with the Senior Managements of clients in evaluating, implementing, operating and monitoring technology to derive maximum benefit and minimize risks at optimum investment.

GTA management welcomes Navneet on board and wishes him good luck and success in this new journey.

International Business Report

2018 will see hiring outpace investment in machines

Despite the rise of automation and record global business optimism, businesses will turn to people in 2018 to meet swelling order books. Plans to hire more workers are at their highest level in a decade. However, with economic indicators pointing to a potential peak in the business cycle, businesses need to balance their investment decisions and take steps to boost productivity.

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Growth IQ 

Can you make your company more agile?

When faced with business challenges, the response is often that companies need to be more agile.Whether it’s the war for talent, currency fluctuations, trade tariffs, aggressive competition or digital transformation, there are many barriers to growth.  But what does it mean and how do you increase agility?

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Growth IQ

Fast, sustainable growth – what’s the secret?

For most businesses, early years are characterised by organic growth. It’s relatively low-risk as it tends to draw on existing resources, hits the balance sheet in a controlled manner and forms part of business as usual. Typically, it will have served businesses well and allowed them to reach a point of maturity. But can it continue to serve their needs when the pace of change is almost overwhelming as technological advances disrupt every industry?

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Navigating the changes to IFRS

Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will affect companies’ future financial reporting. This publication by Grant Thornton International, ‘Navigating the Changes to International Reporting Standards’, is designed to give Chief Financial Officers a high-level awareness of these recent changes to IFRS. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.

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Example Financial Statements

(as of December 2017)

Grant Thornton has prepared a sample financial statement for a fictional consulting, service and retail entity that has been preparing IFRS financial statements for several years. The Example Financial Statements have been updated to reflect changes in IFRS that are effective for the year ending 31 December 2017. In addition, the Example Financial Statements early apply IFRS 15 ‘Revenue from Contracts with Customers’ which becomes effective for accounting periods beginning on or after 1 January 2018.  No account has been taken of any new developments published after 31 October 2017.

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Why is blockchain technology gaining momentum?

Blockchain – the technology behind the bitcoin digital currency – has gone from being a potential pipedream for the future of financial services to a legitimate application for businesses worldwide. It is currently being utilised across many industries and the challenge for those not already on board lies in understanding how to capitalise on the boundless business promise now within reach.

Grant Thornton provides an analysis of blockchain: from its anonymous inception right up to the current day, complete with real-world business examples— how blockchain has been put into practice as part of live, commercial business solutions and how such organisations have been successful in implementing a new technology that many are still currently wary of.

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