From its inception to today, Raymond Chabot Grant Thornton has remained a witness of and an active player in Quebec’s economic evolution.
The Firm was founded in 1948, in the post-war period, when the province was undergoing a wave of industrialization and urbanization. Family businesses and commercial enterprises were booming, profiting from the economic growth that was affecting all of North America. Demand for accounting services was growing rapidly, providing fertile ground for the Firm’s rapid expansion.
The 1960s and ‘70s marked another major turning point for the Québec economy. The government assumed an active role in fostering the creation and development of businesses by Francophones, notably by founding the Caisse de dépôt et placement du Québec and setting up the stock savings plan. This period saw the emergence of Québec inc., with the birth of major companies in sectors as varied as energy, transport and communications.
In this fast-paced environment, Raymond Chabot Grant Thornton is well-positioned across the territory. “The Firm flourished thanks to the vision of its leaders, who have helped it grow through a series of acquisitions throughout Quebec, as well as in Ontario and New Brunswick,” says Marc Bergeron, Partner and Vice-President of the Recovery and Reorganization Group from 2009 to 2021.
Opening up to the world
From the 1980s onwards, the globalization of markets became unavoidable. As in the rest of the world, Quebec businesses had to adapt to an increasingly open and competitive environment. This created new business opportunities, but also presented significant challenges. The Firm responded by diversifying its range of services and adding specialties such as recovery and reorganization, human resources management, financing and management consulting services. This diversification strategy has become “a key element in its resilience”, says Gérald Daly, Advisory Partner and expert in information technology and internal audit.
It was also at this time, in 1981, that the Firm joined forces with Grant Thornton International, a major network of consultants established in over a hundred countries. “Several clients were fulfilling their ambition to build global businesses from Quebec. The Firm needed to increase its presence outside our borders. This alliance has enabled us to extend our reach,” explains Gérald Daly.
As the economic environment becomes more complex, the Firm continues to evolve, adding to its portfolio areas such as ESG (environmental, social and governance) management, sustainable finance, emerging technologies and cybersecurity.” In an increasingly complex business environment, entrepreneurs need a multidisciplinary team that includes accountants, tax specialists, strategic advisers and analysts. This is what allows us to serve our clients well,” concludes Marc Bergeron.
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Montréal, October 3, 2023 – As part of Cybersecurity Awareness Month, VARS, Raymond Chabot Grant Thornton’s cybersecurity division, would like to remind you that reinforcing your security posture is no longer an option, but an obligation for all organizations in order to ensure their growth and longevity.
“It has to be recognized that security is now a guarantee of success for businesses. It is essential for concluding a business relationship. For any given solution, the company that demonstrates a robust security posture and sound data governance should be the one to prioritize,” insisted Guillaume Caron, CEO of VARS.
In addition to security, compliance is essential, particularly with the implementation of a personal data governance program, as required by Law 25. Together, these two components are essential, interrelated and inherent to the success of organizations.
How can you secure your most valuable information assets?
Even if an organization manages to hire a Chief Information Security Officer (CISO), despite the fact that they are rare and command a very high salary—unattainable for the vast majority of SMEs—this professional cannot replace the sophisticated technological cybersecurity controls, especially threat monitoring and detection, that businesses need. This is why working with a Managed Security Service Provider (MSSP) has the advantage of being able to deploy innovative, customized solutions that are much more accessible to SMEs, and that comply with international information security standards and best practices. “Threats are constantly evolving, so real-time visibility of them and the ability to remedy them are priorities for minimizing the impact of legal, financial and reputational risks,” added Caron.
VARS selects and delivers innovative solutions and award-winning consulting services to companies of all sizes across North America: monitoring of networks, workstations and servers; analysis of the company’s attack surface on the hidden web (dark web); secure exchange of sensitive data; secure e-mail inboxes and collaborative tools; intelligent device security, access to a team of CISOs; and an awareness program, including phishing simulations. All of these solutions are also managed by VARS, representing substantial savings for organizations and accelerating their cybersecurity transformation process.
“With some 1.4 million ransomware attacks per day worldwide and an average cost of $800,000 per SME to recover from a cybersecurity incident, coupled with the unfortunate reality that more than 70% of SMEs have only basic cybersecurity protection (firewall and anti-virus), there is an urgent need for action for many local businesses,” concluded the CEO of VARS.
About Raymond Chabot Grant Thornton and VARS
VARS, a division of Raymond Chabot Grant Thornton, selects, integrates and manages award-winning, innovative, cybersecurity solutions that can be quickly deployed into corporations of all sizes all across North America. At the forefront of the information security industry, it offers an integrated and tailored approach to protect an organization against data theft and increasingly sophisticated cyberattacks. Since 2022, VARS is the Fédération québécoise des municipalités’ (FQM) exclusive supplier, providing support through its service offering for securing internet-connected networks and protection against cyber threats.
Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The Firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals, helps accelerate growth. A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,800 professionals, including approximately 200 partners, working in over 100 offices across the province of Quebec and in the Ottawa and Edmundston regions.
Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton world organization, our global footprint spans across more than 145 countries with over 68,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.
For more information:
Gaëlle Fontaine
Consultant, Communications and Public Affairs
Raymond Chabot Grant Thornton
Telephone: 438 349-0842
Email: [email protected]
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Raymond Chabot Grant Thornton is proud to renew its commitment to the prestigious 2024 Mercuriades business competition.
Since 1981, the Fédération des chambres de commerce du Québec has been organizing the Mercuriades competition to celebrate the innovation, ambition, entrepreneurship and performance of local businesses, for both SMEs and large corporations.
Once again, our firm will have the privilege of presenting the Mercure Entrepreneuriat –Raymond Chabot Grant Thornton award. The Mercure recognizes a company that has implemented a winning business growth strategy, developed an effective succession plan, or successfully transferred a business from one generation to the next.
Submit your free application before December 20, 2023.
The pre-registration procedure for one of the 16 categories, including that presented by our firm, is available here.
Good luck to all businesses and to all Québec leaders!
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On September 23, 2023, Raymond Chabot Grant Thornton will be turning 75. Three quarters of a century building vibrant communities by supporting local entrepreneurs and leaders in order to drive their organizations forward with more efficiency, innovation and agility.
As the accounting firm most admired by Quebeckers (according to Léger), we are still a leader in the Québec, Ottawa and Edmundston markets. That is the result of the passion, professionalism and ambition that have constantly inspired Raymond Chabot Grant Thornton’s leaders to build a Firm that is continually more innovative and dedicated to the success of organizations.
Today considered one of the largest professional service firms in Québec, Raymond Chabot & Cie, founded by Jacques Raymond and Guy Chabot in September 1948, has become the partner of choice for local managers and entrepreneurs.
A little history
Chartered accountants Jacques Raymond and Guy Chabot founded Raymond Chabot & Cie in Montréal. Shortly afterwards (1949), Guy Martin joined them, followed by Jacques Paré in 1950. The Firm officially became Raymond, Chabot, Martin, Paré, Chartered Accountants. The year 1981 marked its affiliation with Grant Thornton International.
“Being part of the Grant Thornton global network is a major asset for our clients and teams. With the help of professionals in every corner of the globe, leaders now benefit from support that matches their ambitions,” says Nathalie Boyer, the Firm’s Executive Vice-President and Chief Operating Officer. Turnaround and insolvency services were also being launched that same year.
Nearly 50 years passed before the Firm changed its name to the one we know today. Raymond Chabot Grant Thornton currently boasts more than 2,800 professionals in some 100 offices in Québec, Ottawa and Edmundston. Visit our website for some of the Firm’s history highlights.
A one-stop shop for decision-makers
A wide range of expertise has emerged, enabling the Firm to play a leading role in consulting services. Whether it’s the recruiting and immigration subsidiary AURAY, cybersecurity with the VARS division, or online tax return services with TAXŌ, by way of financial performance technologies, cryptocurrency auditing with Catallaxy or the partnership with the Centre québécois de formation en fiscalité, the Firm has evolved and will continue to do so in line with the needs of organizations.
The Chartered Professional Accountant (CPA) profession has also considerably changed since the Firm was founded. “Accountants have become true business advisers. Their tasks are more diverse and complex, making their work very interesting. It has become a truly exciting profession,” says Samuel Havida, Regional Vice-President and Interim President and CEO of Raymond Chabot Grant Thornton.
With such a track record, we have a right to ask how the Firm sees the future.
In response, Sam says: “The next few years will bring their share of challenges for entrepreneurs and leaders, that’s for sure. We are agile and always on the lookout for the best the world has to offer. We’ll be around for a long time to come to ensure the sustainable growth and longevity of our organizations.”
Raymond Chabot Grant Thornton sincerely thanks all of its clients, business partners and talent for their trust. Thanks to their invaluable contribution over the decades, combined with the vision and boldness of all the Firm’s leaders, Raymond Chabot Grant Thornton intends to remain a professional services leader for at least another 75 years!
Take a look at our new corporate video portraying our dynamic, innovative Firm.