Insights

As the International Accounting Standards Board (IASB) meets today (22 July 2015) to discuss the 2017 implementation date for new global revenue recognition rules, Grant Thornton is asking the accounting board to delay implementation, as a global business survey finds that many businesses are not expecting to be ready by 2017.

In light of growing international interest and scrutiny of corporate practices we set out to explore how three major aspects of governance – the role of culture, board composition and strategic planning – are affecting businesses around the world.

Although some see International Financial Reporting Standards (IFRS) as a regulatory burden, the evidence suggests that global standards actually oil and accelerate the wheels of global economic growth. Andrew Watchman explains.

Before Greece’s 'No' vote on Sunday, business optimism in Europe had surged ahead to its highest level in five years, despite the ongoing uncertainty over the future of Greece and its continued membership of the single currency.

At the G20 summit in Australia last November, global leaders reaffirmed a commitment they made in 2010 to tackle the negative impact of corruption on economic growth, trade and development. In this roundtable debate, Grant Thornton partners from Brazil, India and South Africa discuss how businesses can behave in an ethical manner and thrive, in spite of corrupt practices.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

A detailed summary of a number of the European Commission's measures designed to address corporate tax challenges and issues of abuse.

Sallie Stiens, director, global public policy, asks what the mayors of megacities can learn from the CEOs of growing businesses, and vice-versa.

Low productivity growth is a concern for policymakers across the globe. Steve Perkins, global leader for technology, says boosting R&D is the way to compensate for ageing populations and slower employment growth.

Rising labour costs and the quest for productivity are driving businesses to automate. Finding new roles for redundant workers will be the next challenge.

In the years leading up to the financial crisis, investors from developed economies poured money into emerging economies looking for big returns from in the world's fastest growing markets. But now investment is increasingly flowing from 'East' to 'West' as emerging markets slow, boosting the growth prospects of real estate and construction (REC) businesses in Europe and North America.

Giving up the CEO role is one of the toughest challenges an entrepreneur will face, but doing it successfully will help their business to grow. This article draws on experience of Swedish CEOs and advisers to help business leaders make the transition smoothly.

Companies outsource back-office business processes mainly to boost efficiency and reduce costs. Payroll, HR and accounting processes – the most common to be outsourced – are heavily transactional, and many companies determine that external specialists can execute these far more cost-effectively than they can themselves.

More businesses are spurred on by a ‘fear of missing out’ (known colloquially as ‘FOMO’) than by a positive desire for growth when expanding abroad, according to new research from Grant Thornton's International Business Report (IBR). Business leaders are a fifth more likely to expand when presented with a negatively framed scenario than with the exact same scenario that was framed positively.

Ed Nusbaum advises businesses not to forget the pain of the financial crisis: History will look back on the financial crisis that began in 2008 as a major shock to the global economy. IMF managing director, Christine Lagarde, has talked about the "scars" it left behind. Just as when a sportsman or woman suffers a severe injury, it takes time for economies to rediscover their best form.

Drawing on data and insight from the Grant Thornton International Business Report (IBR), the Grant Thornton Global Dynamism Index (GDI), the Economist Intelligence Unit (EIU) and the International Monetary Fund (IMF), this short report considers the outlook for Latin America in 2015