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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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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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Litigation support
Litigation support
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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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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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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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Trust Taxation
Trust Taxation
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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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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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Capital investment incentives
Encouraging capital investment
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Individual taxation
Individual taxation
Background
Information systems are one of the most crucial resources to be found at your organization. The threats they face are many and varied and, therefore, their protection and security are essential.
Information systems managers contend with their challenges on a daily basis, in addition to the necessity to comply with many and varied regulatory requirements that provide new challenges on a regular basis.
Fahn Kanne Control Management has the know-how and experience in the areas of auditing and consultancy and integrate these capabilities with expertise in the area of information systems.
The key word found in professional service is “specialization”. Auditing information systems requires appropriate theoretical knowledge, together with practical experience in the area of information systems. The sophistication of information systems requires that audits are conducted through the use of advanced methods, in accordance with accepted standards, including inter alia tools for data analysis, simulations, identification of “needle in the haystack” deviances, etc. Our firm has the know-how, the expertise and the experience that you require.
Information and cyber security
The service rendered by the Information systems and cyber consultancy department
- The effectiveness of the organization’s cyber framework: the fairness of the processes dealing with the management of the protection against intrusion to organizational network, protection against viruses, firewall management, intrusion testing, etc.
- Information security reading the organizational network: the fairness of the processes of active directory security management and directory management, securing remote access, firewall management, etc.
- Information security of the organizational information systems: the fairness of the processes of user management and access hierarchy, password mechanisms, etc.
- Physical data security: the fairness of restricting access to sensitive areas such as the server room and the control of access thereto.
- Information security regarding cloud services: the fairness of cloud-related monitoring and control processes and regulating the obligations of the vendors toward the organization from the standpoints of service level, non-disclosure, privacy protection, etc.
- Development and implementation of procedures in the fields of information system and cyber security: adapting the written procedures to the needs of the organization and the structure of the information systems.
- Protection of privacy of information assessment: the fairness of the compliance with the Israeli privacy protection standards and/or the European standards (GDPR), identification of gaps, definition, classification and registration of private databases.
Risk assessments
- They can be performed on two levels, based on the needs and requirements of the client: a general risk assessment and a more in-depth risk assessment.
- A risk assessment in the area of information security in the organization: identification of the existing risks in the organization in the area of information security, documentation of the controls being implemented against those risks and the treatment of the residual risk.
- A risk assessment in the area of information systems operation: identification of the existing risks in the organization in the areas of backups, restorations, controls regarding interfaces and automated processing, documentation of the controls being implemented against those risks and the treatment of the residual risks.
Strategy and processes in the area of information technologies
- Consulting and selection of information systems strategy: assistance in adapting the IT strategy and the work plan in the organization’s IT unit so as to bring them into line with the realization of the strategy and the business goals.
- Auditing to assess the information systems strategy and the support of the organizations activity: the fairness of the adapting of the organization’s IT strategy to the business strategy and the goals of the organization.
- Consulting, control and auditing of the implementation of the organization’s models and methodologies, such as ISO and COBIT: the fairness of the compliance with accepted standards and identification of gaps.
- Consulting on the improvement of processes in the area of information technologies: the fairness of the organization’s IT management, including IT maintenance, mapping and management of components, a work plan and orderly areas of responsibility, setting benchmarks for levels of service and user satisfaction.
- Consulting and accompaniment of the implementation of processes in the IT units: accompaniment of system installation projects, organizational changes, arrangement of support processes, security management, steering and work plans.
- Consulting, control and auditing of business continuation plans (BCP) and disaster recovery plans (DRP): management of the organization’s backup framework, an assessment of the impact on business processes (BIA) and definition of recovery benchmarks, the existence of a written disaster recovery plan and an assessment of its effectiveness.
Project management and system development
- Assistance in processes involving the selection of information systems: accompaniment of the processes of installation of information systems including the identification and refining of requirements, system wide definitions, performance of market surveys, and accompaniment of the processes of examination, adaptation and implementation in the organization.
- Consultation and auditing in the field of IT project management, including projects being performed by outsourced parties: working with vendors, regulating steering processes, control and monitoring of IT projects, IT project risk management.
- Consulting and auditing on the issue of information system development and management of changes: the fairness of the access to system code, segregation of duties in release management, the fairness of the manner in which changes are managed in the organization’s systems including the processes of approved requirement/definition, acceptance testing, approval of the implementation in the production environment, controls pertaining to changes and emergency change, use of systems for the management of code and releases.
- Consultation and accompaniment of information system implementation processes.
- Assistance in the planning and performance of testing the conversion of databases: accompaniment of the processes of classification of the critical data needed for conversion, identification and adaptation of conversion rulers, the process of testing conversion, such as comparison of major reports.
- Consultation and auditing on the issue of segregation of duties in the IT units and the area of information system development: the fairness of the access to the system code in the production environment, segregation of duties in the management of releases, use of systems for the management of code and releases.
- Auditing of the functioning of vendors and the service rendered to the organization: the existence and implementation of non-disclosure agreements and service level agreements, controls pertaining to IT vendors, regulating the obligations of the vendors with regard to disaster recovery and privacy protection.
GRC
- Consulting regarding adapting the organization to SOX: documentation of the ITGC (Information Technologies General Controls) maintained at the organization, in connection with the information systems that have an impact on financial reporting, checking the effectiveness and the implementation of the controls in accordance with the requirements, in connection with the management of users and access rights, mechanisms for the management of changes and developments, segregation of duties and management of the backup framework.
- Guidelines of the Supervisor of Banks.
- Guidelines of the Supervisor of Insurance.
- ISO27031, ISO27032, ISO27001: the fairness of compliance with accepted standards and identification of gaps.
- Compliance with the Israeli privacy protection guidelines and standards, the European GDPR and the U.S. CCPA, the fairness of the compliance with the standards, identification of gaps, definition, classification and registration of private information databases.
Independent audit
- Rendering an opinion on the internal controls at the service bureau (SOC1 / SOC2): SAS 70 documentation of controls implemented by the service bureau (an organization that renders information system services for the calculation of salaries, etc., and rendering an opinion as to the effectiveness and implementation of the controls in accordance with the requirements.
- Compliance with SOX requirements.
- Auditing information systems in connection with financial statements and other reports: securing information systems that impact the financial reporting, including management of users and access rights, mechanisms for the management of changes and developments, segregation of duties and management of the backup framework.
IT operations
- Consulting and auditing on the operational efficiency of the IT unit.
- Consulting on the drafting of procedures in the IT realm, adaptation of written procedure on the basis of the needs of the organization and the structure of the information systems.
Additional services
- Data analysis and pulling information from databases and information systems for purposes of performing specialty testing: identification of deviancies and integrity testing.
- Performance of root cause analyses: mapping, classification and investigation of deviancies and bugs, identifying root causes and updating and improving processes.
- Assistance in the performance of data cleansing.
Our added value
- A department dedicated entirely to consulting on cyber and information systems.
- Service based on professionalism and the involvement of senior staff.
- The assistance of the firm’s professional departments in the fields of accounting, internal auditing, payroll controls, taxation and economic consultancy
- The performance of projects around the world, utilizing the services of local experts at the member firms of the Grant Thornton International network of which we are the Israeli member firm.