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Featured topics

Intelligent Business Hub
The only way forward for manufacturers
Ever since the Industrial Revolution, manufacturing has been at the forefront of innovation. New technologies that improve efficiency and productivity have always been enthusiastically implemented, leading to great benefits for both producer and consumer. Today, an important new dimension is at play, as manufacturers find themselves in the midst of the digital revolution. Those who embrace the forces of disruption will prosper, while those who resist the inevitable will fall by the wayside. Digital transformation is the only way to ensure lasting success, and manufacturers need to take every step necessary to ensure it is done correctly. Manufacturers that do not commit to digital transformation will not be able to keep up with competitors who can offer data-based services to their customers. If they do not offer the latest services, buyers will find someone else who does.
Human Capital Hub
The future of leadership: anticipating 2030
Global business is facing a wave of disruptive influences that look set to spark the Fourth Industrial Revolution. We explore how the way professionals work is evolving, the leadership skills that will be needed within the dynamic mid-market to thrive, and how organisations can stay competitive in the war for talent and customers in 2030.
Tax Hub
Finding a Balance, Part 1: Tax Cuts and Increased Government Spending
As the world’s economic engine slows, countries are moving to stimulate their economies by increasing government spending and cutting taxes to inject cash into the domestic economy. Such actions are intended to boost the economy, and prevent it from stalling.
AUDIT & IFRS Hub
As the role of AI expands, soft skills among auditors are more important than ever
For any industry reshaped by rapid technological growth, new business models must be accompanied by the development of complementary skillsets among its employees. The world of auditing is no different; as ever more advanced service capabilities raise client expectations, there is an increasing recognition among accountants that – as the saying goes – “what got you here won’t get you there”. Indeed, auditors in the financial services industry have traditionally prioritised skills such as accounting, risk management, IT and data analytics when looking to land their desired job. Training in these areas will remain essential for some time to come; however, an oft-overlooked set of “soft skills” is becoming ever more relevant in today’s age of digital transformation. These abilities emphasise the human side of business interaction, where interpersonal communication leads to understanding in a way that technology alone cannot yet replicate. With technology now playing a massive role in the finance industry along with other business sectors, auditors now have greater technical abilities at their fingertips than ever before. In such an environment, where computers can outperform even the best and most experienced auditors at fundamental tasks, the traditional role of the auditor can now expand into new areas. It is therefore worth exploring the challenges and opportunities of this new ecosystem, with an eye toward the particular skills that auditors can develop in order to differentiate themselves from their fellow auditors – as well as their silicon-based assistants.

Latest articles

TAX AND LEGAL Finding a Balance, Part 1: Tax Cuts and Increased Government Spending
As the world’s economic engine slows, countries are moving to stimulate their economies by increasing government spending and cutting taxes to inject cash into the domestic economy. Such actions are intended to boost the economy, and prevent it from stalling.
STRATEGIC OUTSOURCING Hitting a Moving Target: Regulatory Compliance in a Changing Landscape
As businesses strive to maximise growth and performance, they must always keep an eye on the changing environment around them. These changes typically occur among their customers or competitors, but regulatory policy can also have a big impact on business operations. The Thai government has recently enacted a number of policies, provisions and regulations to respond to new developments around the business world. These include the Personal Data Protection Act, new merger amendments to the Trade Competitions Act of 2017, and the Cybersecurity Act – all requiring potentially significant action among businesses operating in country.
CASH AND PROFIT OPTIMISATION From Cost Cutting to Growth
Oftentimes, when an organisation wants to improve their profitability, they will look to make cuts. An easy place to start is with administrative costs, staffing and benefits. While undoubtedly a great way to save money in the short term, this can cause employees to become frustrated and disillusioned, leading to lower morale and decreased productivity. Moreover, customers may also become disgruntled if they notice that products or services have dropped in quality. Customer dissatisfaction will always cost money in the long-term. If the organisation has not taken the time to assess how cuts will affect productivity and growth, they may find that their cost reductions inadvertently turn into profit reductions.
AUDIT As the role of AI expands, soft skills among auditors are more important than ever
For any industry reshaped by rapid technological growth, new business models must be accompanied by the development of complementary skillsets among its employees. The world of auditing is no different; as ever more advanced service capabilities raise client expectations, there is an increasing recognition among accountants that – as the saying goes – “what got you here won’t get you there”. Indeed, auditors in the financial services industry have traditionally prioritised skills such as accounting, risk management, IT and data analytics when looking to land their desired job. Training in these areas will remain essential for some time to come; however, an oft-overlooked set of “soft skills” is becoming ever more relevant in today’s age of digital transformation. These abilities emphasise the human side of business interaction, where interpersonal communication leads to understanding in a way that technology alone cannot yet replicate. With technology now playing a massive role in the finance industry along with other business sectors, auditors now have greater technical abilities at their fingertips than ever before. In such an environment, where computers can outperform even the best and most experienced auditors at fundamental tasks, the traditional role of the auditor can now expand into new areas. It is therefore worth exploring the challenges and opportunities of this new ecosystem, with an eye toward the particular skills that auditors can develop in order to differentiate themselves from their fellow auditors – as well as their silicon-based assistants.
Corporate Social Responsibility Grant Thornton Outing 2019 - Thailand and Singapore
Our Grant Thornton teams from the Singapore and Thailand firms had quite the adventure in Hua Hin. We got down and dirty in the mud to plant over 10,000 mangrove seedlings, which will be essential to the continued health of marine life and the delicate balance of the coastal ecosystem. We also participated in workshops and activities where our team spirit truly shined. Everyone who came on the trip demonstrated the Grant Thornton instinct for growth and a sincere desire to work together for a more sustainable future and a better world.
TAX AND LEGAL Thailand reboots FTA negotiations with trading partners
Now that the political climate in Thailand has stabilised, the government is looking to speed up its Free Trade Agreement (FTA) negotiations with key trading partners. Plans include resuming negotiations with the EU and UK post Brexit, as well as talks to join major multilateral FTAs. To be successful in these negotiations, Thailand needs to keep in mind the consequences that non-tariff barriers will have on improving trade as a whole.
Digital transformation The only way forward for manufacturers
Ever since the Industrial Revolution, manufacturing has been at the forefront of innovation. New technologies that improve efficiency and productivity have always been enthusiastically implemented, leading to great benefits for both producer and consumer. Today, an important new dimension is at play, as manufacturers find themselves in the midst of the digital revolution. Those who embrace the forces of disruption will prosper, while those who resist the inevitable will fall by the wayside. Digital transformation is the only way to ensure lasting success, and manufacturers need to take every step necessary to ensure it is done correctly. Manufacturers that do not commit to digital transformation will not be able to keep up with competitors who can offer data-based services to their customers. If they do not offer the latest services, buyers will find someone else who does.
DIGITAL RISK How to better manage digital risk
Businesses of all shapes and sizes are trying to carve out competitive advantage by leveraging digital information. But owing to the increased use of personal data, it also creates vulnerabilities and inter-dependencies between two previously discrete threats – data privacy and cyber security.
TAX AND LEGAL Experience and Insights: Regulatory Challenges for Fintech Businesses in Thailand
This is the first article for Experience and Insights, a series of interviews and articles where I discuss best business practices and insights – particularly in matters of finance – with successful thought leaders based in Bangkok. Watewiboon Pumipue is the Founder and CEO of Talad Invoice, Thailand’s first on-line invoice factoring platform. Watewiboon is also a member of the Thai Fintech Association and has worked closely with various government and public agencies such as the Bank of Thailand, the Securities Exchange Commission, the Ministry of Digital Economy and Society on the latest developments in rules and regulations on the emerging fintech industry in Thailand. I recently met with Watewiboon to discuss his business as well as some of the challenges new Fintech companies face in Thailand.