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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.
Organizational culture has been defined as the unique social and psychological manifestation of a system of shared values, beliefs, principles and behaviors. It represents the collective experience of a group and embodies the core of employee experience.
One may say that culture is just another construct to explain the dynamics of employee engagement and productivity. Somehow, this misses the point that culture plays a greater part. According to Trice and Beyer, sustainable success emanates from the unique organizational culture which reduces collective uncertainties, creates social order and continuity across members, builds a collective identity and commitment and elucidates a clear vision for the future. These bind and energize your employees to move forward.
For example, as a former employee of a Fortune 100 company, I witnessed an organization, that had been dominant in its field for decades and had essentially operated in the same way for years. Its mantra had always been: “This is how things are done here.” However, this company would eventually face the inevitable question: How do you stay relevant when the tastes and habits of your customers start to shift?
To add more variables to the equation: Members of Generation Y started to dominate the workplace by practically changing the ways and structures of the “old dispensation.” The older leaders (the Baby Boomers) who had been so used to steering success suddenly became perplexed when such a shift took place. They thought capital machinery, technology and innovation were enough keys to adapt to changing scenarios in the work place. They commissioned exhaustive market surveys in an effort to justify the re-engineering processes of their business model.
Still, they did not see much improvement. When they realized this and looked in the direction of Culture Change initiatives, tangible progress and improvements became manifest. This led to the conclusion that strategic sense provides direction but Culture gives meaning and depth to an organization’s purpose.
Understandably, changing culture takes commitment and sustained effort. Therefore, it is imperative to start any initiative from the top. Executives should know how to harness positive culture forces and sync it with business objectives. This, in turn, accelerates both operational and strategic imperatives which later translates into competitive and distinctive advantage.
To ascertain your corporate culture, consider the following questions:
a. How well do teams collaborate and work with one another?
b. Are company values articulated and incorporated into the “language” of the organization? Describe your company in one word, for example.
c. How are employees rewarded?
d. In your hiring and sourcing process, is there an “employee brand” that you observe?
e. What behaviors would you correct and sustain?
Your response to these questions basically would tell and describe the kind the culture of your organization. It would as also imply behaviors that contribute and affect your business performance.
Culture is an instinctive, repetitive habit that renews and evolves through time. Therefore, it vital that when an organization links behavior to objectives, it must ensure that employee mechanisms are built according to and aligned around the values that form the totality of your corporate culture. Here is a sample checklist to see if the guiding principles you have set are aligned to the organizational culture that you aspire to institutionalize:
A. Sourcing and Hiring of Talents – The moment they step into your office or view your online web page, what do they see? How is the environment? Is it “cold” or “warm”? Organized or in disarray? Do you see any corporate values posted on the walls?
Depending on your response, these manifestations of the company ethos form the critical impressions about the organization and its culture. If you value flexibility, your workstations, for example, should be both mobile- and tech-ready (plug-and-play). Constant use of the word “team” in your brand messaging implies a more collaborative environment, as the word “employee” may tend to be more individualistic.
B. Rewards and Recognition – How does your company reward performance? How do you treat your top performers compared to those at the bottom? Does your reward system reinforce certain behaviors?
Having a distinct mechanism that would clearly differentiate high achievers from low performers; providing more premiums and merit incentives to high performing or achieving employees promote a behavior that is closely linked to productivity. Incentives are good predictors of behaviors that are being formed over time.
C. Retention and Engagement – Does the culture alleviate stress or cause stress? How do you sustain enthusiasm in the workplace? What kind of specific activities or events are lined up for employees? What benefit options are available to employees?
Health options, offered to employees and their dependents regardless of status, may in a way signify how the company values family. Flexible time-off programs or arrangements may imply the company’s stance towards work-life integration. Quarterly dialogues suggest a culture where inputs are valued and concerns are acted on. When you speak of autonomy, personal expression or empowered decision-making becomes critical.
Organizational culture involves emotional influence, intellectual dexterity and energy. This shared awareness is essential in promoting the right mindset and a common platform across the organization. Leaders who encourage their employees to “act their way into believing rather than thinking their way into acting” create a distinctively aspirational culture.
Rhia Dee is a Director, People & Culture, 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 over 800 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 rhia.dee@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 on 19 Apirl 2017