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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.
These days, it is an accepted fact that the burden of reversing the climate crisis lies largely on the shoulders of governments and corporations. After all, research shows that less than 100 companies are responsible, whether directly or indirectly, for majority of carbon emissions throughout history. Thus, companies have been under scrutiny to ramp up their sustainability initiatives. The recent Grant Thornton International Business Report (IBR) even saw that 42% of the surveyed Philippine mid-market firms are ready and likely to invest in sustainability reporting and initiatives.
Be that as it may, personal responsibility is still important to achieve environmental and sustainability goals. Everybody is capable of being a changemaker. Adapting more sustainable habits is not only personally empowering, but it also compounds and ultimately affects largescale change. Dr. Steve Cohen, former executive director of the Columbia University’s Earth Institute, puts it succinctly: “Individual responsibility and the thought process and value shift that stimulates individual action [is] the foundation of the social learning process required for effective collective action.”
There is a unique opportunity here. One’s work environment significantly influences their identity and interactions with the world. As more companies lay down sustainable policies and initiatives, they can create passionate champions and advocates in the process too.
The Grant Thornton IBR asked Philippine mid-market firms how they can engage their workforce in sustainability initiatives beyond business. The surveyed companies provided the following top three responses. Let us explore the ways companies can follow through with each action point.
Partner with organisations with experience or capabilities in this area (55%)
Before employees can buy in to a company’s sustainability shift, it is important that they perceive the company first as being consistent in its messaging and practices. Partnerships with government institutions and non-profit organizations that share the same goals are the first step.
Among the United Nations’ sustainable development goals (SDGs), SDG 17 emphasizes the need to create and strengthen partnerships between governments, the private sector, and the general population. This is because cross-sectorial partnerships have shown to be more innovative and effective in achieving sustainability improvements than individual projects, more so when the partnership is long term.
Famously, a certain coffee shop’s collaboration with Conservation International transformed the former’s corporate governance and increased the amount of coffee that it sourced from biodiverse farms. This act of allowing partners to engage and influence the company’s processes in such a tangible manner is important for two reasons. First, it steers the company itself towards more sustainable ways of doing business. And second, it signals to employees that “sustainability” here is not just a buzzword. It is something that is taken seriously and perhaps even rewarded.
Introduce policies to encourage employee involvement outside of business (53%)
In addition to being seen as “walking the talk”, companies must also tie in sustainability with the more formal aspects of the job in order to successfully influence employees to adapt sustainable behavior. Outlining expectations in the employee contract or performance agreement, providing compensation once certain sustainability targets are met, and enacting company-wide policies or working arrangements are examples of how to do this.
One silver lining of the last few years is that it provided the opportunity for companies to redesign their workflow. With the rise of digitalization, it is possible for companies to go completely paperless unless necessary, reducing waste and the pollution related to its production. Companies that continue to work remote or hybrid reduce employee travel. Whether it is writing memos on one’s phone or walking to a destination instead, it is easy to see how these small practices stack up and become daily habit for employees.
Provide training on the importance of personal action (50%)
“Sustainability” has been such a popular catch-all term that sometimes it can be difficult to remember what it describes. But stepping outside of the business vocabulary here, sustainability is just making sure the generations that come after us enjoy the same – or more – privileges that we do. And with that goal in mind, everyone has an important role to play.
Companies can therefore use training and programs to communicate to employees the importance of sustainability and personal action, as well as suggest ways for how they can use their unique talents to strive for better. A professional services firm like ours, for example, is full of accounting, finance and tax professionals. One good way that we can move the needle on sustainability is to use our knowledge in accounting, finance and taxation to help communities, such as that of farmers and market vendors, be empowered with financial literacy. By initiating programs that address SDGs that are closely connected to the company’s core business, it becomes easier for employees to see the impact of their work.
There is no way to monitor employee behavior outside of the workplace. So, management’s role in creating sustainability champions starts and stops at imparting the importance of the topic and individual action. If done successfully though, then following Cohen, that is already half the battle won.
As published in The Manila Times, dated 28 September 2022