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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.
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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.
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Additional services as part of the audit process
Assistance and consulting on solving accounting problems
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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
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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.
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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
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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.
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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.
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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
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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.
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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
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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.
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Privacy Protection GDPR
Privacy Protection GDPR
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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
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Occupational Safety and Health
The department specializes in the following matters: Safety consulting and auditing for leading companies. Investigation and assessment of safety incidents. Consultation on formulating an internal enforcement plan in the field of safety in the organization.
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Business consulting
Many companies face significant business decisions which may have an impact on their future.
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Dispute advisory
Dispute advisory
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Due Diligence
Fahn Kanne's advisory team provides robust due diligence services that are linked to our clients’ requirements.
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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.
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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.
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International services
International services
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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
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Liquidations receiverships and special management
Liquidations receiverships and special management
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People advisory
People advisory
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Recovery and reorganization
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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Strategy
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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Transactional advisory services
Our dedicated business consulting team consists of experienced professions with expertise in the area of mergers & acquisitions.
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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.
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Corporate finance
Many companies face significant business decisions which may have an impact on their future.
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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.
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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.
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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
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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
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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.
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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.
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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
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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.
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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.
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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.
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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.
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Trust Taxation
Trust Taxation
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Capital investment incentives
Encouraging capital investment
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Individual taxation
Individual taxation
The department specializes in the following matters:
- Safety consulting and auditing for leading companies.
- Investigation and assessment of safety incidents.
- Consultation on formulating an internal enforcement plan in the field of safety in the organization.
- Professional control of emergency drills.
- Auditing in the field of environmental protection.
- Auditing in the field of educational institutions.
The added value for you
- Reducing the chances of prosecution of the company and its executives in the field of safety and hygiene.
- Examining the effectiveness of your investment in safety.
- Reducing the chances of the occurrence of a safety incident.
- Reducing the chances of the insurance company disavowing the claim due to the organization's conduct.
- Bridging the gap existing between executives' responsibilities and their understanding of safety issues.
Services of the Occupational Safety and Health Department:
In accordance with occupational safety and health laws, the corporation and its executives bear nearly full responsibility for safety within the organization.
The organization's safety system is designed to advise and assist the corporation and its managers in fulfilling their extensive and diverse legal responsibilities.
Our company is among the industry leaders in providing safety and environmental consulting and inspections. We advise executives and safety teams on how to optimally fulfill their important role in this field.
The core value this service provides to the client lies in several dimensions:
Maximizing the effectiveness of the organization's existing safety system
Minimizing managerial exposure to criminal liability
Advancing the professionalism of the organizational safety system
Raising managerial awareness of their safety responsibilities
Implementing an advanced operational methodology within the organization.
Key topics to be examined in the comprehensive safety survey:
- Existence of a safety system as required by legislation and suited to the organization’s characteristics
- In-depth review of specific components within the organization's safety management program
- Management involvement in safety matters (with emphasis on potential criminal liability exposure)
- Safety in subcontractor employment, including a review at one of their work sites
- Existence and implementation level of safety and hygiene procedures
- Safety-related workflows between different roles within the organization's safety team
- Workplace accidents: their investigation and the effectiveness of lessons learned
- Monitoring processes for equipment that requires regular inspection
- The organization’s emergency response system and its alignment with the range of risks present
- Employee training (e.g., working at heights, certified workers, risk summaries)
- Presence of required regulatory approvals
- Safety-related practices in job roles and legal compliance
- Evaluation of managers’ exposure to liability in the event of a safety incident
- The survey will include analysis of various safety documents, a site walkthrough, and interviews with employees and managers.
A good safety system is evaluated based on two main criteria: first, its ability to minimize the extent of work-related accidents and occupational illnesses related to employees’ activities within the organization; and second, its ability to handle an investigation or lawsuit following a safety incident and to convincingly demonstrate that the organization took all necessary measures to prevent the event and complied with legal requirements at the time of the accident.
To maintain such a system, we provide our clients with a “surprise inspection” service — our team of experts arrives at the organization unannounced and conducts random safety audits. This process, in which the safety system is unaware of the exact timing of the inspections but is aware that a surprise audit will occur, creates a “positive operational tension” that enhances the attentiveness of the safety framework, improves the safety culture, provides management with an accurate and objective snapshot of the organization's safety status, and increases the organization's chances of successfully handling a civil or criminal lawsuit in the event of an accident.This service is available only to organizations for which we have conducted a safety survey and are therefore well familiar with.
Main areas subject to random review during the surprise inspection include:
- Safety culture and its implementation in the field
- Employee training
- Employment of subcontractors – review of documents and processes
- Random on-site inspection of a work area
- Validity of certifications
- Presence and activity of a company safety officer at the site
- Use of inspected and approved equipment as required
- Fire extinguishing systems
- Readiness of the immediate response team
- Safety representatives – appointment, training, and management
- Safety committees – compliance with legal requirements
- Shift work
- As part of the inspections, various documents will be reviewed, a site tour will be conducted, and employees and managers will be interviewed.
A high-quality Safety Management Plan will maximize your investment in the safety system
Our company has extensive experience in developing Safety Management Plans, built on deep knowledge and years of hands-on work with a wide range of clients — including local authorities, industry, construction, retail, entrepreneurship, high-tech companies, international firms, and more.
As an integral part of creating a comprehensive Safety Management Plan, we review the organization's activities and recommend and draft tailored safety procedures.
Our key advantage, beyond our many years of experience, lies in our ability to shape both the safety management plan and the organization’s safety procedures not only to optimize internal safety processes, but also to reduce legal exposure for the organization’s management and safety systems — thanks to our significant expertise in investigating safety incidents from a criminal liability perspective.
The organization’s safety framework is required to include an emergency response team responsible for acting immediately and effectively in the event of a safety or environmental incident (such as fire, electrocution, hazardous holes, etc.).
The purpose of this team is twofold: first, to save lives, and second, to reduce the scale and impact of the incident on the organization and its surroundings until emergency services arrive.
Beyond assembling this team, it is necessary to analyze and create a database of “scenarios and responses” according to which the team will operate, and to conduct a drill for the team at least once a year.
The safety officer is usually the one who builds the team, conducts the drill, and prepares a performance report.
To ensure an objective evaluation and a management-oriented perspective, we support the safety framework by helping develop a relevant training scenario and serve as an external oversight authority to assess the quality of the team's performance and its alignment with the organization’s real needs.
Main activities carried out as part of the emergency drill oversight include:
- Participation in the drill planning and assessment discussion
- Recommendations on appropriate scenarios to simulate
- Review of the emergency team’s equipment compliance
- Involvement of managers in the field during the drill
- Assessment of coordination with external emergency forces
- Evaluation of response times and their alignment with expectations
- Implementation of lessons learned from previous drills
- Participation in the post-drill debrief and providing professional recommendations.
The organization's management and its safety system are committed to investigating various safety incidents within the organization. The goal is to determine the circumstances that led to the accident, but even more importantly, to enable informed action to learn from the event and prevent similar accidents from occurring in the future.
Our office specializes in developing an internal enforcement program that, on one hand, effectively connects senior management’s need to take action in the field of safety, thereby significantly promoting a strong safety culture within the organization; and on the other hand, substantially minimizes the exposure of managers to liability in safety incidents within the organization.
Our work is based on the Attorney General’s guidelines published in 2019, as well as on our extensive experience in safety management in large and complex settings and in the investigation of workplace accidents.