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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.
I used to spend my youth enjoying summertime in our hometown in Bolinao, Pangasinan. These include helping out in the family sari-sari store while honing my Ilocano with the locals, harvesting chicken and quail eggs in the hatchery, and watching my veterinarian uncles help sows give birth. While Mamang prepared binunggey (sticky rice cooked in wood-fired bamboo) and ripe mangoes for merienda, I visited the woods with Papang to look for bamboo fit for a sumpak (improvised blowgun) or cadang-cadang (stilt). Our much-awaited moment was when we traveled along the then dusty and unpaved roads to the undiscovered beaches of Patar. A month’s worth of immersion was not enough to discover what Bolinao really had to offer.
As years passed, I saw more and more tourists flocking to Bolinao. Some of them would buy from our sari-sari store but would then inexplicably throw their waste anywhere but into a nearby garbage bin. There were even times when I was driving behind vans, which were presumably carrying bakasyunistas (tourists on holiday) on their way to the now-famous Patar, and would be flabbergasted when people threw candy wrappers, fruit peelings and used plastics or cans, among their litter, out of their van windows and onto my windshield. Yet, these people would lament – after taking a dip in Bolinao’s warm waters, sunbathing on the sand, and singing the night away – the unsightly litter left on the beach, resort, or camping grounds.
Now I wonder: is there really such a thing as a responsible traveler or tourist?
Famous website design and online marketing consultant Veronica Morrison wrote, travelers are those who immerse themselves in the places they visit, while tourists are those who scratch the surface of the places they visit.
I believe that traveling should still be about discovering new places and meeting new people. When we travel responsibly, we should leave a positive impact and a positive image for the other visitors. It is about respect for the destinations we visit, including their people, communities, culture and environment. Morrison defined responsible travel as “being socially and culturally aware when you travel, understanding your effect on the places you visit and trying to make that effect a positive one.”
Responsible travel is likewise defined in the 2002 Capetown Declaration as travel that:
1. Minimizes negative economic, environmental and social impacts;
2. Generates greater economic benefits for local people and enhances the well-being of host communities, improves working conditions and access to the industry;
3. Involves local people in decisions that affect their lives and life chances;
4. Makes positive contributions to the conservation of natural and cultural heritage, to the maintenance of the world’s diversity;
5. Provides more enjoyable experiences for tourists through more meaningful connections with local people, and a greater understanding of local cultural, social and environmental issues; and
6. Provides access for physically challenged people; and is culturally sensitive, engenders respect between tourists and hosts, and builds local pride and confidence.
Given that Patar offers of one of the most magnificently golden sunsets and a picture-perfect paradise for stargazers, family guests often join us in our excursions. During those travels, and being mindful of becoming responsible travelers, we share with our guests the following rules:
We observe the ‘leave no trace’ ethics. Clean-as-you-go (CLAYGO) is followed anywhere and every time. We perform our share of segregating utensils, leftovers, or empty bottles. We also limit the use of scarce water and electricity resources. We don’t smoke inside rooms and halls. By sourcing our food and groceries locally, we travel light and reduce our carbon footprint.
We trash our trash. We throw filled-up room bins in the main garbage bin outside. And we supply new and empty bin liners throughout our stay.
We immerse our guests. Beyond the relaxing privacy, we engage our guests to immerse themselves, support the local economy and visit the many areas around Bolinao: the 400-year-old St James the Great Parish Church, the Bolinao lighthouse and nearby rock formations, waterfalls and caves, the floating restaurant at Balingasay River, the giant clam fields of the UP Marine Science Institute, and the salt farms of neighboring Anda and Dasol.
Sometimes we are greeted by fisher folk who ply their daily catch or the locals with their binunggeys, patupats (sweetened sticky rice wrapped in coconut leaves) and other local delicacies.
Local businesses and people have a responsibility to travelers as well – to treat them with respect, to apply suitable safety and security standards, not to take advantage of their cultural ignorance, not to be rude, and not rip them off.
Our world today is characterized by integration and connectedness. Low fares make traveling more accessible for savvy travelers with extra money to spend. Couple those with improved infrastructure and tourism facilities and together they paint a brighter prospect for the tourism industry. The challenge, however, is sustaining our local communities for future generations. Hence, today’s business is abuzz with discussions on sustainability practices and integrated reporting – ensuring that we manage our economic, environmental and social impact.
I believe, however, that creating sustainable communities begins with each of us. It begins when, in our journeys, we become responsible travelers. And I hope that in my next visit to Bolinao, I’ll cross paths with you there.
Mhycke C. Gallego (email: mhycke.gallego@ph.gt.com) is advisory partner at Punongbayan & Araullo (P&A Grant Thornton). Today, 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.
As published in The Manila Times, dated 26 July 2017