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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.
Seven factors that will increase the value of your business
04 Apr 2016By: Jeff Pocock
When it comes to increasing the value of your business, the old adage rings true: It’s about the journey rather than the destination. Increasing value is an ongoing process—a process that involves the regular assessment of your business’s strengths and weaknesses. The process should ideally lead you to opportunities that allow you to build upon the former, while remedying—or eliminating—the latter.
Because you never know when the need for financing—or the decision to sell—may present itself, you should always be searching for new ways to increase your company’s value. While there are obviously external factors that can play a role in how much your business is worth, there are also many things you can control. These may include:
Financial position
Prospective buyers and potential lenders have one thing in common: They’re both interested in the financial position of your business. By regularly assessing such things as your balance sheet, debt-to-equity ratio and redundant assets, you can fine-tune areas that may look less-than-appealing and take steps to further enhance others.
Management depth and skills
If you left your business tomorrow, would it be able to survive? Companies with strong management teams are more valuable than those that are completely dependent on the owner(s). If you don’t yet have a strong management team in place, now is the time to start building one. It takes time to find good people, so the earlier you get looking, the better.
Labour force
Strong hiring and training practices are the cornerstone of a skilled workforce. Hiring the best of the best—and making sure those employees’ skills are frequently updated—has a positive impact on employee morale, retention and productivity, ultimately increasing your business’s value.
Products and services
Regardless of what business you’re in, you’re in it to meet your customers’ needs. The more relevant your products and services, the better you can meet those needs. By identifying and reacting to potential changes in customer preferences, cleverly differentiating your offering and establishing effective marketing plans to get in front of those customers, you’ll not only increase the value of your business, but you’ll be setting it up for long-term success as well.
Customer dependence
When it comes to customers, it’s best not to put all your eggs in one basket. By diversifying your customer base—whether through a new product line, marketing strategy or by targeting a new geographical market—you’re lowering your level of risk and increasing your company’s value.
Plant and facilities
Nobody wants to pay top dollar for an ailing plant, building or equipment. That’s why it’s important to keep on top of the state of your facilities. By being proactive about structural repairs, equipment upgrades and safety standards, you’ll not only make your facilities nicer places to work, but you won’t be faced with a laundry list of repairs and upgrades when you decide to sell.
Flexibility
The most successful and longstanding companies are those that are able to adapt to change. Whether you’re faced with new customer preferences, increased competition or innovations in the marketplace, embracing change is a sure-fire way to increase your business’s value.
By making the effort to check in on your business on a regular basis, you can spot opportunities to increase its value as they arise—and make impactful decisions accordingly.
The author is a Partner at Grant Thornton LLP Canada. Grant Thornton International Ltd. is a leading global business adviser that helps dynamic organizations unlock their potential for growth. Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd. For inquiries, you may direct them to 988-2288 ext. 760 or visit our website at grantthornton.com.ph
As published in Philippine Daily Inquirer dated 04 April 2016