[MEET THE MEMBER] Grant Thornton

Author: Benelux Chamber Shanghai

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Photo: Having a lunch with Tim around Grant Thornton’s office at People’s Square

 

Dr. Tim Klatte – Grant Thornton China, Forensic Advisory Services Partner

“Invest in your staff. Continue to invest in people. Communicate with your team, provide them with the tools and capabilities they need to be successful. Staff management is as equally important as client management. Keep an open-door policy, talk to your staff, and help your team” spoke Dr. Tim Klatte, Partner of Forensic Advisory Services at Grant Thornton.

Tim began his professional career more than 25 years ago after completing his BA and MBA in the United States. He started at Deloitte New York, and soon relocated to Deloitte Shanghai, where he worked for 10 years with the firm, focused on Competitive Intelligence and Forensic Advisory Services. Afterwards, he joined China Minsheng Investment Bank for two years to obtain an insight as the only Western employee in an organization with over 6,000 Chinese employees. Tim added, “To be a true China expert, I felt it was necessary for me to work in a Chinese company and learn from local senior executives.” Now, Tim has been working at Grant Thornton for nearly 9 years.

After working for nearly 20 years, Tim returned to the classroom and obtained a Doctorate in Business Administration (DBA), focused on the offshoring strategies between the US and China. This love of learning has placed him once again in the classroom, this time at the front of the room, developing a passion for teaching. Tim teaches courses on Project Management, Organizational Ethics and Strategy at NYU Shanghai. He also teaches CSR in the iMBA program with the Shanghai University of Finance and Economics (SUFE), a joint program with Webster University as an Adjunct Professor and used to be a lecturer at the Sino-British College (USST). Tim is fluent in Mandarin and proficient in Japanese.

In this edition of Meet the Member, the Benelux Chamber interviews Dr. Tim Klatte during lunch and visits his office at People’s Square in Shanghai.

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Grant Thornton

Grant Thornton International is a full-scale accounting firm providing audit, tax, and advisory services. With a 100-year history, the firm operates in 130 countries, including 29 cities in China. Its headquarters in China is based in Beijing while the office in Shanghai has a staff of around 650 professionals. Grant Thornton serves international clients, joint ventures, and wholly foreign-owned enterprises (WFOEs). Grant Thornton China was founded in 1981, and Grant Thornton is one of the largest accounting firms in the country, offering a wide range of services that cater to international capabilities.

As the only member firm of Grant Thornton International Ltd in the country, Grant Thornton China has over 300 partners and more than 6,000 professionals with approximately 1,200 CPAs. Grant Thornton works in 29 strategically aligned offices throughout mainland China and the Hong Kong SAR. Easy access to international resources enables us to offer a full range of tax, assurance and advisory services to clients in every sector of the China market.

Forensic Advisory Services

Grant Thornton’s forensic advisory services focus on compliance, ethics, and fraud prevention. Tim leads the efforts to help clients navigate complex regulatory landscapes and prevent risks associated with operating in challenging markets like China.

The firm's unique selling point (USP) is that it’s not part of the Big 4, allowing for a personal touch while being a global firm with strong relationships across offices worldwide, including the Benelux region.

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Evolving Regulatory Landscape in China

“Fifteen years ago, the regulatory landscape was quite different, but today it has evolved to be more black and white enviroment,” he says. Tim has witnessed a positive evolution in China’s regulatory environment, with updated laws and a shift toward transparency and accountability. With new regulations like the Personal Information Protection Law (PIPL) and cybersecurity laws, companies now operate on a more even level playing field, with greater protection for whistleblowers and a stronger focus on ethics and compliance.

Grant Thornton offers dedicated compliance training, supporting companies in China and beyond to navigate the regulatory challenges. Tim emphasizes the importance of localizing strategies to ensure businesses meet compliance standards globally and in China.

Proactive Fraud Prevention Measures

Tim highlights the importance of hiring the right people and when serving clients, encouraging them to conducting thorough background checks to prevent fraud, corruption, or conflicts of interest. Regular risk assessments and compliance training are also key. Tim advises companies to create an open and safe work environment where employees feel comfortable raising concerns and asking questions.

Cultural Challenges in Investigations

Tim points out the cultural differences between Chinese and Western business practices. “In China, relationships and guanxi (connections) are crucial, while Western companies tend to focus on technical skills and performance above all else. Bridging this gap requires frequent visits and open communication between headquarters and local subsidiaries”

Success Stories in China

One of Tim’s most notable achievements in China involved helping a multinational corporation recover from a major fraud issue. After conducting a thorough investigation, his team identified several high-level employees involved in bribery and kickback schemes. The company terminated multiple senior employees and was able to save significant future losses. Tim’s work ensured the company’s long-term compliance and financial health in China.

Message to the Community

Invest in Compliance. The cost of non-compliance is far greater than the expense of setting up a proper compliance program.” Tim urges companies to have a long-term strategy for compliance and ethical conduct to protect their reputations and avoid fines.”

Working in China is dynamic and exciting. It forces you to challenge yourself to grow both personally and professionally. Remain flexible, networking often and constantly reinvent yourself.” With 18 years of experience in China, Tim is committed to helping businesses thrive by fostering a culture of transparency and ethical conduct.

Upcoming Events

Tim Klatte will be a keynote speaker at the CESN (China Ethics and Compliance Summit) in December, where he will be speaking on ethics and compliance strategies, specifically, key tips for interviewing whistleblowers.

The Benelux Chamber is organizing a talk "Whistleblower Investigations" with Tim Klatte on Friday 6th of December between 5-7pm at Grant Thornton office!

Register here

To speak with Tim directly about your corporate compliance issues, please contact him directly:

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Dr. Tim Klatte (柯一鸣博士)

Partner, Forensic Advisory Services

T: +86 (21) 2322 0580

E: tim.klatte@cn.gt.com