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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.
Among the family of viruses, such as those that cause the common cold, severe acute respiratory syndrome and the Middle East respiratory syndrome, the one that causes the coronavirus disease 2019 (Covid-19) — and its outbreak — clearly made the biggest impact on global education. As of March 16, the Department of Health (DoH) has tallied at least 140 confirmed cases of Covid-19 in the Philippines.
According to the latest report on the impact of the coronavirus on education issued by the United Nations Educational, Scientific and Cultural Organization, 73 countries have announced or implemented school and university closures, affecting almost 516.6 million youth worldwide.
Schools are one of those places where a large number of people in proximity to one another can easily spread respiratory illnesses. The suspension of classes can be an effective and key response against the spread of transmissible viruses.
In a televised address on March 12, President Rodrigo Duterte announced the nationwide suspension of classes on all levels for one month in a bid to contain the spread of Covid-19 in the country.
The President said all students should continue to fulfill their educational requirements during this period. He also advised students to make use of their time to study, instead of tinkering with their mobile phones.
The President’s message to our youth to spend their time wisely by studying in order to improve was also directed at our schools to ensure that learning remains uninterrupted during this period.
So how do our schools support and assure the continuity of learning during disruptions?
Schools need to plan virtual learning solutions during temporary disruptions that includes assessing their readiness and decide on the appropriate technology to use based on the reliability of local power supplies, internet connectivity, and digital skills of teachers and students.
There are many ways schools can leverage technology to support and assure the continuity of learning during disruptions. We have seen how modern technology has helped revolutionize various industries. Unfortunately, education is the sector of the economy that is least transformed by technology.
Could educational technology be the holy grail of education? Could Covid-19 be the turning point that will drive educational technology into the mainstream?
There are many useful platforms, tools and resources available for schools and educators to use in order to prevent education from grinding to a halt due to the Covid-19 outbreak.
Google Education provides free productivity apps that include Hangouts Meet, which can be used to monitor student attendance, and Google Classroom, which allows teachers to upload learning resources and homework, and for students to submit their work for marking and feedback by the teacher.
Teachers can use a blend of synchronous and asynchronous communication and collaboration tools for remote teaching and learning. When real-time communication is required, synchronous communication tools are available within a learning management system environment, as well as stand-alone apps, such as Skype, Google Hangouts and Zoom.
Asynchronous communication, on the other hand, is more flexible than real-time communication and has a pedagogical advantage: it encourages critical thinking. Examples of asynchronous communication tools include discussion forums, blogs and email.
A mobile app called Book Creator allows teachers to combine text, images, audio and video to create their own teaching resources for any subject or education level. The app also allows both teachers and students to unleash their creativity and collaborate, helping to keep the virtual classroom connected and engaged.
There are also a wide range of free mobile apps that allow teachers to create online assessments, such as Socrative, Schoology, Kahoot! and Recap, to name a few. The use of digital assessment tools help teachers deliver a better learning experience in a remote classroom by “gamifying” the answers, giving instant feedback, tracking student progress, and creating survey-based assessments.
The schools can use social media platforms to create communities that will connect schools, parents, teachers and students, ensuring that there are regular social interaction and address possible psychosocial barriers that students may face during remote learning. Schools must also support teachers and parents by organizing orientation sessions on the use of digital learning tools.
Without a doubt, a sustained increase in the adoption of educational technology can be a permanent solution or a crisis response tool in a world where global emergencies and disruptions are increasingly becoming the norm. Hence, it is imperative that educational institutions map out a detailed digital transformation strategy and consider putting in place the necessary digital infrastructure, tools and resources to support virtual teaching and learning.
Amid the current challenges, it is high time for our government leaders, lawmakers and school officials to seriously consider building virtual schools to provide equitable and inclusive quality education, particularly to those who are unable to study, because of poverty, to those living in remote, are underserved, and live in war-torn areas, and to those disrupted by school closures due to recurrent flooding, monstrous traffic jams, and now, the Covid-19 crisis.
Jess Obana is a senior managing consultant in the Advisory Services division of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firms in the Philippines, with 23 partners and more than 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 jess.obana@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit www.grantthornton.com.ph.
As published in The Manila Times, dated 19 March 2020