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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.
Are we asking enough questions?
06 Dec 2017“Mom, if God does not want Adam and Eve to eat from the tree of the knowledge of good and evil, why did God put that tree in the Garden of Eden?”
That was the question my then five-year old daughter asked her mom during a nightly devotion before bed. It left me and my wife desperately groping for an answer to a seemingly basic question—a simple question that I have not even asked as an adult.
Even on the street, when lost as we drove around, my wife would chide me for not wanting to ask anyone for directions. Pre-Waze, asking for directions would have provided the biggest help, but I always hesitated to do it.
When I was a staff member, my manager would give me instructions on what to do, and even if they were not clear, I would hesitate to ask for clarification. I would sometimes end up taking a lot of time figuring out what to do.
Why is it difficult to ask questions? Can I blame my personality? Is it because of a sense of independence? Or shall it be an indictment against my pride? Whatever the cause might be, this is something that we need to seriously look into.
One of the reasons we ask questions is to obtain information that would aid us to do our task efficiently or to make wise decisions. We ask questions for our own benefit. Though that is important, there could be other benefits to asking questions—benefits that sometimes are not for the one who is asking, but for whom the question is addressed.
The other day, I attended a “Meet the Partners” session for a batch of our newly hired Certified Public Accountants. During such sessions, I normally encourage our new hires to ask questions. If they do not ask questions, they will not get anything from me and we will just waste each other’s time. There will typically be a lot of hesitation before the first question is asked. Soon after that, the questions just keep on coming.
One of the questions that made me pause for a moment during a session the other day was, “What was your greatest regret in life?” It made me pause, not because I did not have any regrets, but because it was one of those questions I always tried to avoid. Apart from making me think, it made me reflect on what that regret could possibly be. In the process, it allowed me to unpack the emotional baggage that I had hidden beneath the surface. The benefit of that question was far greater for me as the recipient than to the one who asked.
Let this be my encouragement for you. Ask.
Ask and shake things up. Do we ask enough questions to challenge the status quo? Do we challenge the status quo to improve how we do things, even if nothing is really broken?
Ask questions for our own development. Do we ask enough questions to ourselves as part of our personal growth? In the face of success or failure, do we ask enough questions? What did I feel at that moment? What are the things that I would do again or not do at all? How should I have reacted to that situation? What should my mindset be when faced with a similar situation?
Ask, and somebody might get his own answers to the questions he was afraid to ask. When somebody asks for our advice, do we jump to conclusions and prescribe something like a doctor would do, or do we take that opportunity to ask the right questions to help that person reach his own conclusions?
Ask questions and make people think about their own performance. Do we ask enough questions to our leaders and staff to make them more accountable for their responsibilities?
Ask questions and make our own personal convictions. Do we ask enough questions about our own existence? Why are we here in this world? What is our purpose in life? Am I living according to my purpose?
Apart from asking ourselves questions such as: Who can help me? Where do I want to go? What is my goal? Why not further ask yourself: Why do I want to achieve that goal? How should I behave to achieve my goal? What should I develop to attain my goal? Is there anything I need to change?
Sometimes, it is not enough to ask what to do, but also to ask ourselves how we should change to be able to achieve what we are supposed to do.
So, therefore, ask. Ask and you will get an answer. Even the absence of an answer is an answer in itself.
Anton Ng is a partner, Audit & Assurance 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 more than 850 staff members. We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to anton.ng@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph.
As published in The Manila Times, dated 06 December 2017