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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.
The concept of a four-day workweek has gained significant traction in recent years, sparking a debate about its feasibility and implications for businesses and employees. Traditionally, the five-day workweek has been the norm, but as society evolves and work-life balance becomes increasingly crucial, the idea of shorter workweeks gains momentum.
The call for a four-day workweek arises from a desire to improve employees' quality of life, enhance work productivity, and reduce stress and burnout. Proponents argue that giving employees an additional day off can lead to increased job satisfaction, improved mental well-being, and higher motivation to excel in the workplace. Additionally, studies have shown that compressed work schedules can boost productivity, efficiency, and creativity, as employees tend to be more focused and driven during their shorter workdays. A recent study compiled by the Wall Street Journal looked across multiple companies in the U.S., Canada, and the UK over a 12-month period, and gathered how businesses and employees alike benefit from this work setup. During these trials, numerous companies, including design agencies, manufacturers, and nonprofits, experimented with the four-day concept, offering employees a paid day off each week while maintaining the same workload. The goal was to assess whether employees could achieve the same level of productivity while working more efficiently.
After six months of implementing the four-day workweek, employees reported several positive outcomes. They experienced reduced burnout, improved health, and increased job satisfaction. Additionally, their average work time decreased by approximately four hours per week, from 38 to 34 hours. For those who continued the schedule for a full 12 months, working hours were further reduced to around 33 hours per week. Remarkably, these employees continued to report improved mental and physical health, as well as a better work-life balance. The results have fueled a growing interest in rethinking traditional work practices.
I will explore the question of whether businesses are prepared for a four-day workweek, and the potential benefits, challenges, and possible strategies for successful implementation.
Benefits of a Four-Day Workweek for Businesses
One of the primary advantages of a four-day workweek is its potential to improve employee retention and attraction. Businesses that embrace this approach may find it easier to attract top talent and keep their workforce satisfied. Offering a better work-life balance and flexibility can make the company more appealing to potential employees.
Furthermore, with fewer workdays, employees are likely to be more productive during their designated hours. The urgency to complete tasks within a shorter timeframe often leads to higher levels of concentration and efficiency. Employees may become more motivated to maximize their productivity during the limited workdays, resulting in improved overall performance.
A four-day workweek can also contribute to reduced absenteeism and fewer sick leaves. By granting employees an extra day to rest and recharge, they are more likely to maintain good health and well-being, leading to a decrease in sick days taken.
Moreover, adopting a four-day workweek can have a positive impact on the environment. With fewer days in the office, there will be fewer commutes, which translates to decreased carbon emissions and a smaller ecological footprint.
Challenges and Concerns
Despite the potential benefits, transitioning to a four-day workweek presents some challenges and concerns that businesses must address to ensure a successful implementation.
One major concern is workload management. Condensing work into fewer days may lead to an overwhelming workload for some employees. To mitigate this, companies need to carefully assess workloads and ensure that employees are not expected to accomplish the same tasks in less time.
For businesses that heavily rely on customer service, reducing workdays may affect response times and overall customer satisfaction. Companies must find innovative ways to maintain high-quality customer support even with a reduced workweek. Moreover, companies with round-the-clock operations or those that serve international clients may face difficulties in adopting a four-day workweek without compromising service availability. Businesses in such industries must develop strategies to ensure continuous operations and seamless customer service.
Lastly, implementing a new work schedule may incur initial transition costs, such as setting up new communication systems or restructuring shifts. While these costs may be temporary, they must be carefully considered during the planning phase.
Readiness Assessment for Businesses
Before adopting a four-day workweek, businesses must conduct a thorough readiness assessment to determine if they are equipped for such a change.
Gathering feedback from employees is essential to gauge their interest and willingness to adapt to a four-day workweek. This will help identify potential challenges and ensure buy-in from the workforce. Analyzing the various job roles within the organization is crucial to identifying which ones can adapt to a compressed workweek. Certain positions may require 24/7 availability, while others might be suitable for flexible schedules.
Conducting a productivity analysis can provide insights into how employees utilize their time during the current workweek. This data can be used to identify areas where improvements can be made to optimize performance. Assessing the company's communication and collaboration tools is necessary to ensure seamless connectivity and efficiency, especially if employees are working from different locations or on different schedules.
Lastly, a pilot program with a smaller group of employees can be an effective way to assess the feasibility and impact of a four-day workweek before a full-scale rollout. This allows businesses to identify and address potential issues on a smaller scale before implementing the change company-wide.
Conclusion
In conclusion, the concept of a four-day workweek has gained momentum as a potential solution to address work-life balance issues and boost employee well-being and productivity. While businesses might face challenges during the transition, thorough planning, employee engagement, and data-driven decisions can pave the way for successful adoption. As society continues to evolve, the four-day workweek presents a compelling opportunity for businesses to enhance their workforce's overall happiness and productivity.
As published in The Manila Times, dated 09 August 2023