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Audit approach overview
Our audit approach will allow our client's accounting personnel to make the maximum contribution to the audit effort without compromising their ongoing responsibilities
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Annual and short period audit
At P&A Grant Thornton, we provide annual and short period financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service.
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Review engagement
A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that the management’s representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.
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Other Related Services
We make it a point to keep our clients abreast of the developments and updates relating to the growing complexities in the accounting world. We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients’ businesses.
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Tax advisory
With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Tax education and advocacy
Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights.
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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and monitoring risks in your business. Such solutions include external quality assessments of your Internal Audit activities' conformance with standards as well as evaluating its readiness for such an external assessment.
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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and systems. Using our extensive knowledge of various industries, we can take a close look at your business processes as we create solutions that can help you mitigate risks to meet your objectives, promote efficiency, and beef up controls.
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk factors, and recommending practical solutions to eliminate the gaps. We also provide investigative services to detect and quantify fraud and corruption and to trace assets and data that may have been lost in a fraud event.
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Cyber advisory
Our focus is to help you identify and manage the cyber risks you might be facing within your organization. Our team can provide detailed, actionable insight that incorporates industry best practices and standards to strengthen your cybersecurity position and help you make informed decisions.
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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system to promote integrity and honesty in the organisation.
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.
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Our values
Grant Thornton prides itself on being a values-driven organisation and we have more than 38,500 people in over 130 countries who are passionately committed to these values.
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Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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Behind the Numbers: People of P&A Grant Thornton
Discover the inspiring stories of the individuals who make up our vibrant community. From seasoned veterans to fresh faces, the Purple Tribe is a diverse team united by a shared passion.
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Fresh Graduates
Fresh Graduates
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Students
Whether you are starting your career as a graduate or school leaver, P&A Grant Thornton can give you a flying start. We are ambitious. Take the fact that we’re the world’s fastest-growing global accountancy organisation. For our people, that means access to a global organisation and the chance to collaborate with more than 40,000 colleagues around the world. And potentially work in different countries and experience other cultures.
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Experienced hires
P&A Grant Thornton offers something you can't find anywhere else. This is the opportunity to develop your ideas and thinking while having your efforts recognised from day one. We value the skills and knowledge you bring to Grant Thornton as an experienced professional and look forward to supporting you as you grow you career with our organisation.
Technical Alerts
First Quarter Edition of IFRS News
First Quarter Edition of IFRS News This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We'll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments. We begin this first edition of 2017 by considering the European Securities and Markets Authority's recent public statement on the implementation of IFRS 9, Financial Instruments. The statement will be of interest to many companies inside and outside Europe as its effective date of January 1, 2018 draws closer. We then move on to look at a number of amendments that the International Accounting Standards Board (IASB) has recently made to its standards and some proposals which are in its pipeline. Further on in the newsletter, you will find IFRS-related news at Grant Thornton and a general round-up of financial reporting developments. We finish with a summary of the implementation dates of newer standards that are not yet mandatory; and a list of IASB publications that are out for comment. See attached copy of the First Quarter Edition of IFRS News. P&A Accounting Alerts are issued to keep our clients updated with the latest developments in financial reporting. These are not intended to be a substitute for professional advise. If you would like to unsubscribe, or add a colleague or a friend to our mailing list, please let us know by return e-mail. For inquiries and suggestions on how the Accounting Alert may be even more useful to you, e-mail Mabel.Comedia@ph.gt.com or Jerald.Sanchez@ph.gt.com or call 988-2288.
Suspension of eFPS enrollment from Mach 1 to April 30
This Tax Alert is issued to inform all concerned on the suspension of eFPS enrollment from March 1 to April 30.
SEC Memorandum Circular No. 1 (Series of 2017), 2017 Filing of Annual Financial Statements and General Information Sheet
This Accounting Alert provides reminders to all entities registered with the Securities and Exchange Commission (SEC or the Commission) in relation to the filing of their 2016 Annual Financial Statements (AFS) and General Information Sheet (GIS).
Reminder for taxpayers required to use eFPS
Reminder for taxpayers required to use eFPS This is to remind taxpayers mandated to enroll and use the eFPS that the BIR is doing regular monitoring of their compliance (RMO 1-2017) and generating lists of: a. eFPS mandated taxpayers b. eFPS mandated taxpayers who never eFiled c. eFPS mandated taxpayers not enrolled Currently, the following taxpayers are mandated to use the eFPS: 1. Taxpayer Account Management Program (TAMP) Taxpayers (RR No. 10-2014) 2. Accredited Importer and Prospective Importer required to secure the BIR-ICC & BIR-BCC (RR No. 10-2014) 3. National Government Agencies (NGAs) (RR No. 1-2013) 4. All Licensed Local Contractors (RR No. 10-2012) 5. Enterprises Enjoying Fiscal Incentives (PEZA, BOI, Various Zone Authorities, Etc.) (RR No. 1-2010) 6. Top 5,000 Individual Taxpayers (RR No. 6-2009) 7. Corporations with Paid-Up Capital Stock of P10 Million and above (RR No. 10-2007) 8. Corporations with Complete Computerized Accounting System (CAS) (RR No. 10-2007) 9. Procuring Government Agencies with respect to Withholding of VAT and Percentage Taxes (RR No. 3-2005) 10. Government Bidders (RR No. 3-2005) 11. Insurance companies and Stock brokers (RMC No. 71-2004) 12. Large Taxpayers (RR No. 2-2002, as amended) 13. Top 20,000 Private Corporation Penalties shall be imposed for non-compliance.
AAB-acquirer liable for penalties on late remittance of tax payments through credit cards
AAB-acquirer liable for penalties on late remittance of tax payments through credit cards (Revenue Regulations No. 2- 2017, February 8, 2016) This Tax Alert is issued to inform all concerned on the new rules regarding payment of taxes through credit/debit/prepaid card. In case taxes are paid through credit/debit/prepaid cards, the payment of taxes shall be deemed made on the date and time appearing in the system-generated payment confirmation receipt issued to the taxpayer by the AAB-Acquirer, regardless of when the payments are remitted to the BIR. Section 4 of Revenue Regulations 3-2016 is amended to the effect that the AAB-acquirer shall be liable to the penalties in case of late remittance or non-remittance of the payments to BIR. Prior to this amendment, the taxpayer who paid on time may still be liable to penalties if the AAB-acquirer fails to remit the payments to the BIR on time.