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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.
I lived alone in the UK a little over a decade ago. One Friday the 13th, I craved and cooked nilagang baka in my Ascot flat. While excitedly eating my steaming hot dinner, I choked on a litid past 8:00 in the evening.
All blue and gasping for breath, I jumped, self-Heimlich-ed, dangled from the door frame, and drank soda to loosen out the block. All to no avail. I ran to the minor surgery hospital opposite my place but was referred to the nearest accident and emergency hospital some 21 miles (around 34 kilometers) away.
I quickly picked up Ria, a colleague, who was living below my flat and she drove me to the hospital. As we were passing through the very dark Windsor Great Forest, I was vomiting in a paper bowl.
If I did not make it out of the flat that night, nobody would have noticed. Then the thought, “how will my loved ones in Manila know if I’m ok?” I had a classmate before who told me of an arrangement he had with his parents that if they did not hear from him within any 24-hour period, they would immediately go to the police station, post a blotter and initiate a search effort.
From then on, safety precautions have been constantly bugging me – which is expectedly heightened when you are in a far off place. Especially during these times when people are very mobile, I wonder, what precautions can we set up to alert those who can respond and help us in times of danger or threat? The following readings gave me ideas, which I hope would also be useful to you as well:
1. In his book “Power Play,” fiction writer Joseph Finder wrote something about an electronic duress code. In a conversation within the story, one of the characters remembered setting up this code in the event one is threatened at gunpoint to access his accounts:
“It’s just a variant authentication code. If you enter a nine before and after the PIN, it trips a silent alarm. Tells the bank officer that the transaction is fraudulent, probably coerced.” Then what happens? “Well, first thing they freeze the account. Then a whole emergency sequence gets triggered – calls are made to a list of people – telling them something is wrong: Someone’s probably forcing a company officer to access the accounts.”
2. ICE – In case of emergency
UK emergency services personnel encouraged mobile phone owners to program emergency contact details into their phones. Often at the scene of incidents, emergency services personnel want to inform relatives or associates as soon as possible and often will retrieve a person’s mobile phone to do this. However, knowing who to call can be a dilemma for the early responders to an emergency situation, including the possibility of them causing unnecessary distress if the wrong person is contacted.
The idea was thought up by a paramedic. Their recommendation is to enter ICE (In case of emergency) before the person’s name. For more than one contact use ICE1, ICE2, ICE3, etc., or ICE1–wife, ICE2–brother, ICE3–boss, etc.
3. In The Day of the Jackal, a book that was turned into a movie starring Bruce Willis, Frederick Forsyth wrote about an “insurance” in case somebody disappears unexpectedly:
“You do not need to worry. I do not intend to harm you. Besides, I imagine a man of your intelligence has taken certain precautions against being killed by one of his customers. A telephone call expected within an hour perhaps? A friend who will arrive to find the body if the call did not come through? A letter deposited with a lawyer, to be opened in the event of your death? For me, killing you would create more problems than it would solve.”
“M. Goossens was startled. He had indeed a letter permanently deposited with a lawyer, to be opened in the event of his death. It instructed the police to search under a certain stone in the back garden. Beneath the stone was a box containing a list of those expected to call at the house each day. It was replaced each day. For this day, the note described only the customer expected to call, a tall Englishman of well-to-do appearance who called himself Duggan. It was just a form of insurance.”
Would it be great if we have something like these triggered at certain “choking” points in our lives: a duress text from any of our family members if he or she is unsafe, or an identity challenge if a robber forces our helpers to make demand calls, or check–up calls if we’re vacationing (especially during this Lenten break). What safety precautions have we established in case our dreaded imagining comes true?
When we reached the hospital that Friday the 13th, calming medicines and soda were offered and a laryngoscopy taken. And still no luck. But when that needle was about to be inserted, the blockage slipped down on its own. I am afraid of hospitals, blood and needles, and the thought of being hospitalized was all the cure I needed, I reckoned. Or perhaps because it was already past midnight – past Friday the 13th!
Mhycke Gallego is a partner for Advisory and Head of Knowledge Management of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 21 partners and over 900 staff members. For your comments, please email mhycke.galleo@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For more information about P&A Grant Thornton, visit our website www.grantthornton.com.ph.
As published in The Manila Times, dated 28 March 2018