-
Financial statement auditing
A Company’s financial statements constitute an important management tool that contributes to the ability to analyze and evaluate the organization's performance, both in the operational field and in the financial field.
-
Financial statement preparation
The independence principle has to be upheld. Companies have to get used to the fact that regulatory requirements prohibit their auditors from assisting them in preparing their financial statements.
-
Additional services as part of the audit process
Assistance and consulting on solving accounting problems
-
Internal audit
Fahn Kanne Control Management Ltd. Grant Thornton Israel renders internal auditing and control services to a broad range of entities. During the course of an internal audit, we utilize the services of experts from other departments, based on the nature and the needs of the audit: Information systems audit department, forensic accounting department, payroll control department, financial control department, etc. Contact us: info@il.gt.com
-
Sarbanes Oxley Implementation
Fahn Kanne Control Management will assist you in preparing the company for the requirements of article 404 of the Sarbanes Oxley Act (SOX). Our firm has extensive experience in implementing SOX at dozens of companies, using the methodology of Grant Thornton International.
-
Auditing the quality of the internal audit (QAR)
Yossi Ginossar, CEO of Fahn Kanne Control Management Ltd. Grant Thornton Israel possesses the required certification to conduct assessments of the quality control of internal audit framework (QAR). A number of entities in Israel have adopted standards 1300 and 1321 of the International Association of Internal Auditors (IIA) that stipulates that firms must have a third-party consultant perform an assessment of the quality control of their internal audit framework (QAR). Contact Yossi: yossi.ginossar@il.gt.com
-
Risk Management
Our team has extensive experience in evaluation and management of risks and controls. We are assisted by one of the world's most advanced international methodologies, in order to properly evaluate the business processes.
-
Forensic services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
-
Fraud and embezzlement prevention
What is a multi-year plan for the prevention of embezzlements? It is much more economical to take appropriate measures to prevent embezzlements from being perpetrated. The multi-year plan serves as a tool that assists the organization in contending with frauds and embezzlements risk. Shay Medina, CPA, Partner at Fahn Kanne Control Management Ltd. Grant Thornton Israel and Head of Investigative Accounting Department specializes in conducting these plans. Contact Shay: Shay.Medina@il.gt.com
-
Information systems auditing
The threats against the organizational information systems are many and varied. therefore, protecting and securing them is of paramount importance. Fahn Kanne Control Management Grant Thornton Israel has the know-how and experience in the fields of auditing together with information systems and therefore provides Information systems auditing.
-
Service Organization Control Report (SOC 1 2 3)
Fahn Kanne Control Management Ltd. Grant Thornton Israel possess the know-how that is needed to provide examination of the fairness of controls - we render SOC services, including: A SOC-1 report based in standards ISAE 3402 / SSAE 16 (formerly SAS 70) and Checking the preparations and preparedness for compliance with the requirements of the standard. Contact us: yisrael.gewirtz@il.gt.com
-
Blockchain & cryptocurrency
Blockchain, the technology behind digital currency in Bitcoin, has been unleashed. Given the interest in blockchain beyond financial services in the service, transportation, business and government sectors - it is gaining momentum.
-
Privacy Protection GDPR
Privacy Protection GDPR
-
Payroll control
The control reports that we at Fahn Kanne Control Management Ltd. Grant Thornton Israel design for our clients include deviance reports: checking the payment of the same salary component twice, payment of salary components that contradict one another, payment of salaries to fictitious employees, granting salary raises at unreasonable intervals, payment of a salary component in an amount that is unreasonable, etc. Contact us: Roei.Simhy@il.gt.com
-
Business consulting
Many companies face significant business decisions which may have an impact on their future.
-
Dispute advisory
Dispute advisory
-
Due Diligence
Fahn Kanne's advisory team provides robust due diligence services that are linked to our clients’ requirements.
-
Innovation and Incentives support
The Incentives department offers a full range of consulting services. From fund raising and management of local and international R&D funds, submission to international tenders and more.
-
Valuations
Are you involved in a transaction, dispute or re-structuring your business? The value of your business and its assets will be a critical commercial consideration. Is litigation a possibility? A professional valuation is often the key to securing a fair settlement. Expert opinions are an inherent part of our offering.
-
International services
International services
-
Data analytics
With the ever-increasing reliance on information technologies at many organizations, the risk levels related to these technologies and to the processes supported by them continue to grow. The dedicated information systems consultancy department at Fahn Kanne Grant Thornton Israel, specializes in various IT issues: IT Advisory, Data analysis, Service bureaus. Contact us: amiel.attias@il.gt.com
-
Liquidations receiverships and special management
Liquidations receiverships and special management
-
People advisory
People advisory
-
Recovery and reorganization
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
-
Strategy
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
-
Transactional advisory services
Our dedicated business consulting team consists of experienced professions with expertise in the area of mergers & acquisitions.
-
Financial sevices
We, at Fahn Kanne Consulting Ltd. Grant Thornton Israel provide a unique and strategic viewpoint on current banking issues. Our srvices include: Accompanying debt arrangements with banks, Valuations for banks and credit portfolios, Validation of models of structured products for banks and more. Visit our website to learn more about our services.
-
Litigation support
Litigation support
-
Corporate finance
Many companies face significant business decisions which may have an impact on their future.
-
Debt advisory
All-time low interest rates across Europe and the USA have resulted in investors looking to find new ways to generate a return on their cash.
-
Financial modelling
Models are at the heart of all business decisions. Whether you're looking to raise finance, buy or sell a business, assess strategic options, or just plan for the future, you're going to need a forecast. This is likely to come from a financial model.
-
Operational deal services
The due diligence checks the accounting records, liabilities to employees, non-bank guarantees, the existence of hidden commitments, and the existence of surplus assets that the prior owners are attempting to remove from the company. Examining these parameters helps to reduce the risk to the investor in acquiring a company. Contact us: Mickey.Blumenthal@il.gt.com
-
Restructuring
The due diligence checks the accounting records, liabilities to employees, non-bank guarantees, the existence of hidden commitments, and the existence of surplus assets that the prior owners are attempting to remove from the company. Examining these parameters helps to reduce the risk to the investor in acquiring a company. Contact us: Mickey.Blumenthal@il.gt.com
-
Transaction services
Fahn Kanne's professional staff will assist you through all phases of the transaction to achieve the most optimal results, and to execute transactions for the long-term.
-
Valuations
Fahn Kanne's valuation team has extensive knowledge, international reach and technical expertise to help organizations measure value and make better, more informed decisions.
-
International taxation
The world is a global village, with companies operating concurrently in different countries and contending with wide range of international tax issues. You need to advise with international tax experts! The International tax department of Fahn Kanne Grant Thornton Israel provides Professional services: Planning tax structures, accompaniment of investment transactions and activities, foreign VAT, transfer pricing, relocation issues, etc. Contact us: Shay.Moyal@il.gt.com
-
Indirect international tax
Fahn Kanne's Tax Department has expertise in the field of indirect taxation, including accompaniment, handling and consulting on a range of issues in the field of indirect taxation, including Value Added Tax, excise tax and customs. These issues may have a significant impact on the results of operations of many companies.
-
Transfer pricing
The transfer pricing department at Fahn Kanne recognizes the need to meet the regulatory requirements concerning transfer pricing, while preserving efficiency versus cost and reducing possible tax exposure. Our firm provides an overall solution that is tailored to the needs of the client, the goals of the organization and the nature of the transaction.
-
U.S. taxation
The members of Fahn Kanne’s U.S. taxation team provide services regarding compliance and consulting on a large number of complex transactions at the local, national and international levels. Our client base includes large corporations, international businesses, family businesses, local businessmen and others. We provide tailored assistance with a high level of partner involvement.
-
Tax Aspects of Virtual Currency Activity in Israel
Virtual currencies (cryptographic) are gaining increasing interest among many entities in the global economy, for investment and trading purposes. In addition, in recent years, many start-ups have been established in Israel in the field of blockchain, the technology on which the field of virtual currencies is based, in order to offer advanced technological solutions to various issues.
-
Trust Taxation
Trust Taxation
-
Capital investment incentives
Encouraging capital investment
-
Individual taxation
Individual taxation
Background
In May 2018, the “Privacy Protection Regulations (Information Security) – 2017” which were passed by the Israeli parliament in March 2017, went into effect, replacing the antiquated regulations dated in back 1986. These regulations, initiated and supervised by the Privacy Protection Authority, set out the manner in which the information security requirement of the Israeli Privacy Protection Law are to be implemented by all parties who maintain or process databases containing personal information.
Upon the going into effect of the regulations in May 2018, the level of implementing personal data security in Israel took a huge leap forward. These requirements apply to all of the owners, managers and maintainers of databases in Israel, including organizations, companies and public entities.
Our firm is a leader provider of services to various organizations who are in need of assistance in examining their compliance with the Israeli, European and American privacy protection regulations. These organizations span many fields of activity, from education, medicine, human resources and a variety of public companies. We developed the necessary expertise and we possess the knowhow required to assist organizations in contending with the challenges presented as a result of the implementation of the regulations in Israel and abroad.
Privacy Protection Regulations – the Israeli Regulations
These regulations address the issues of physical and logical protection of databases which are relevant to the vast majority of organizations in Israel. The Israeli regulations will apply to all business owners in Israel who possess databases as the term is defined in the Privacy Protection Law. The regulations divide the databases into 4 required levels of information security, based on the sensitivity of the material, the number of users with access to the database and the size of the population, the details of which are stored in the database.
The Regulations contain provisions for the realization of the obligations and liability of the organizations in the area of information security regarding the personal details of customers, vendors and employees. The goal of these regulations in to set out information security principles that will protect against misuse by third parties as well as misuse by employees of the organization. The regulations are modular and they set out obligations that increase in severity as the information processing activity of the organization becomes more significant, as the information becomes more sensitive and as more and more people in the organization are exposed to the information.
GDPR – the European Standard
Concurrently, in May 2018, the General Data Protection Regulation (GDPR) of the European Union also went into effect.
The European Regulations address the issues of collection, saving and transfer of personal data of private individuals and set out uniform rules for the protection of privacy. The regulation applies to any organization which comes into contact with personal data of citizens of the EU., and defines the fundamental rights of the European residents with regard to their personal data and the protection of such data. According to the regulation, the data collected by the organization belongs solely to the subject of the data and the company has to relate to such data accordingly when it uses it. Non-compliance may result in significant penalties.
For additional reading on this issue, click on the following link: GDPR [ 1015 kb ]
CCPA– the American Standard
U.S. Household Protection Standards that apply to companies that execute transactions in California, the California Consumer Privacy Act (CCPA), are stricter than the GDPR in that while the GDPR protects the data of the private individual, the CCPA expands such protection to the entire household.
The following criteria apply to the CCPA regulations:
- The company has an annual revenue turnover of more than $24 million
- The company holds data of more than 50,000 customers / households or more than half of the company’s revenue turnover derives from sales of data of its customers / households.
A company breaching the regulations may be subject to penalties in the millions of dollars (between $100-$175 per individual customer / household).
Our added value
Concurrently, in May 2018, the General Data Protection Regulation (GDPR) of the European Union also went into effect.
- Service based on professionalism and the individual attention of the department’s senior staff
- Performance of projects and work around the world, utilizing the services of local experts from member firms of the international Grant Thornton network (of which we are the local Israeli member firm).
