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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.
VAT TCC Monetization Program Filing Deadline
The BIR has set the following deadline in the filing of application for enrollment in the VAT Tax Credit Certificate (TCC) monetization program.
Claiming casualty loss deductions
Corporations and individual taxpayers engaged in business or practice of profession who sustained losses wrought by the recent monsoon rains may claim the loss as deduction for the taxable year in which the loss was sustained.
August 31 deadline for uploading of 2011 ITR in the eFPS
Relative to the requirement under Revenue Memorandum Circular (RMC) No. 15-2012 for eFPS taxpayers to encode the contents of their manually filed ITRs in the eFPS, the BIR has formally announced the availability in the eFPS of the Enhanced Income Tax Return (BIR Form 1702 (November 2011 ENCS). In relation to this, the BIR issued the following guidelines in uploading the contents of the manually filed ITRs of eFPS taxpayers
Filing deadline moved to August 13, 2012
The BIR has extended the deadline for the e-filing/filing and e-payment/remittance of BIR Forms 1600, 1606, 1601C and 1602; 1601E & 1601F; and 2200M from August 10, 2012 to August 13, 2012 for taxpayers filing in the following Revenue District Offices (RDOs), including affected Authorized Agent Banks (AABs).
Enhanced ITR (BIR Form 1702) Now Available in the eFPS
The enhanced EFPS version of the annual Income Tax Return (BIR Form No. 1702) for corporations was uploaded by the BIR last July 17, 2012, although no formal announcement of its availability has been announced in the BIR website.
VAT TCC Monetization Guidelines
The DOF, DBM, BIR and BOC issued Joint Circular Nos. 2-2012 and 3-2012 implementing the monetization program for VAT Tax Credit Certificates (TCCs) under Executive Order No. 68, series of 2012.
Higher Exemption for Uniform Allowance
The BIR has increased the threshold amount of tax-exempt "de minimis" uniform and clothing allowance from Php 4,000 to Php 5,000 per annum. The increase in uniform allowance is effective January 1, 2012.
New Guidelines in Filing of ITRs of eFPS Filers
Earlier, the BIR announced that eFPS filers should manually file their annual income tax returns (ITR) due this April 16, 2012.
Monetization of VAT Tax Credits
All VAT-registered taxpayers with outstanding VAT Tax Credit Certificates (TCCs) may convert their TCCs into cash under the government's TCC monetization program as implemented by Executive Order No. 68 (March 27, 2012).
ITR Filing Procedures for eFPS Filers
Pending availability of the enhanced BIR income tax return (ITR) forms in the eFPS, all eFPS filers are required to manually file their ITR using the new forms, and pay their tax due with the Authorized Agent Banks (AABs) within the jurisdiction of the Revenue District Office (RDO)/Large Taxpayer District Office where they are registered.