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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.
Less than a week from now, we will have our midterm elections. One of the buzzwords we often hear from voters on who they would vote for is authenticity. Authenticity is defined as being true to one’s belief, character and personality. In short, we want our politicians to show who they truly are. It is the degree to which an individual’s actions are aligned with their beliefs and desires. During the campaign period, we try to determine who is authentic and who is simply faking it. Do they believe in honesty, or do they believe that lying can justify the end? Is eating using your hands being authentic?
Despite the voting population’s clamor for authenticity, do candidates really believe voters are looking for it? Or do they think singing, dancing and bringing with them celebrity endorsers will make them win? If that is the case, there are really no incentives for people to be authentic. There is incentive, however, to pretend you are happy to sing and dance for the electorate. Thus, they will endure singing, dancing, and making a fool out of themselves and everybody in the short-term, and then be their authentic self once they are sworn into office. By then, their authentic self, whether we are amenable to it or not, no longer matters. They have already been elected into office.
The same can be said in the world outside of politics. We often desire to be authentic. We desire that our bosses be authentic. We desire for our staff to be authentic. We want to have that freedom to show who we truly are. However, are we incentivized to be authentic? More importantly, is our authentic self really worth bringing out into the open?
After going through business school, one of the things I was always conscious of is whether the incentives being provided to employees are aligned with the type of behavior the organization wants their employees to exhibit. The incentives or dis-incentives policies, sometimes referred to as the carrot or the stick, of an organization would normally be a way to drive a particular behavior. Whether it is about punctuality or how an employee should treat a customer, organizations normally come up with policies that would reward what they think is “good” behavior and punish the “bad” one.
If we follow this particular method of molding the behavior within our organization, how are we then affecting the authenticity of our people? As leaders in our respective organizations, we create incentives to drive a particular behavior. Are we preventing our people from being authentic? Are we trying to make people do things they do not necessarily believe in, but are being driven to do so, because there are incentives or, worse, penalties for non-compliance? Will our people, by changing their behaviors to get the carrot or to avoid the stick, remain authentic?
Most likely not. They might be changing their behaviors without necessarily changing their beliefs or way of thinking. As it sounds, there is no way this approach, especially now when people are looking for meaning beyond material things, can be successfully sustained over a long period. At some point, the change in behavior will fizzle out, because it is contrary to their beliefs and values.
We can, instead of modifying behavior through incentives or none, try to influence our people to have a different perspective and to change certain beliefs and ways of thinking to drive a particular change in behavior, but still allowing them to be authentic. We can also align their individual visions and goals with that of the organization to find a common ground, wherein the organization can achieve its desired results but, at the same time, allow its employees to remain authentic. This requires a lot of conversations and leadership within the organization. It would not be as easy as setting up new incentive policies as well. This, however, can be effective in the long run.
Why are we trying to change behaviors and not just allowing people to be authentic? It is because there are certain behaviors, though they reflective of one’s true self, that may not be aligned with the organization’s vision and values. Let us say one values efficiency and time above all else. Shall we just allow that person, in the name of authenticity, to totally lose his patience to people who don’t share the same value? Or, if one values excellence, shall we allow that person to uncontrollably reprimand their subordinates at the first instance of a substandard output, regardless of the cause, again in the name of authenticity? Does being authentic outweigh decency, tact and proper decorum? Can we actually justify our behavior in the name of authenticity by simply saying: “I’m just being authentic. I’m just being true to myself. What is wrong with that?”
Yes, we want to be authentic, but our expression of authenticity should not be harmful to others. Otherwise, we are just being authentically selfish by allowing our inner self to be more important—much like most of our politicians nowadays.
Anton Ng is a Partner of the Audit & Assurance 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. 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@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 08 May 2019