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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.
The Christmas season is a time of joy and generosity that can also be a prime period for cybercriminals to exploit unsuspecting individuals. With the surge in digital transactions and the influx of holiday bonuses, scammers view this season as an ideal opportunity to carry out their schemes.
Most of these victims often fall into these traps such as seeing a post that lures you in to enter their website and eventually enter your credit card details to secure the scammed offer. Because of this, multiple unauthorized charges were made, and the post was revealed to be a phishing attempt, and the website was a fake that was designed to steal your personal and financial details. This proves that individuals are more vulnerable to fraud and being vigilant is now critical more than ever.
Rising Incidents of Cybercrime: A Growing Threat
The reality of cybercrime is evident. According to a survey by Social Weather Stations (SWS), the prevalence of victimization by crimes is often much higher than reported incidents. While traditional crimes like pickpocketing, burglary, and carjacking remain to be concerns in the Philippines, cybercrimes like hacking, phishing, and online scams have proliferated over the past year since it was included in the statistic.
In recent months, cybercrime victimization has risen sharply across the Philippines. Families that were affected by cybercrimes surged from 3.7% in June 2024 to 7.2% in September 2024. This rate was derived from all areas in the Philippines such as Metro Manila surged from 3% to 12.3%, Balance Luzon, or areas outside Metro Manila, rose from 5.2% to 6.3%, Visayas rose from 1.7% to 7.7%, and in Mindanao, from 3.0% to 5.7%.
These rapid surges prove that there is an urgent need to protect oneself to avoid being victimized by these distressing situations especially as the season of bonuses and online spending heightens the risk of being preyed upon by these scams.
How to Avoid Falling Victim to Cybercrime
According to the 2024 Asia Scam Report, the most common scam that Filipinos are mostly victimized by are shopping scams. It is quite timely now that we are in the Christmas season, and more shops are having sales. So, to have a seamless and safe Christmas shopping experience, here’s how you can avoid falling victim to cybercrime:
1. Be skeptical of offers that seem too good to be true
Scammers often use enticing offers to lure individuals into sharing sensitive information or making unauthorized payments. For instance, gadgets that are suddenly sold at an unrealistically low price should raise suspicion. Another new tactic involves scammers impersonating manufacturers to post fake “apology messages” about long queues in physical stores, claiming an “80% off sale.” These posts often include staged photos and urge readers to take advantage of the discount online through a fraudulent link. Due to the urgency and different psychological approach using “Fear of Missing Out (FOMO)”, readers are easily tricked into this scam. If you’re unsure about a social media post, link or an email, it’s better to steer clear of such offers and avoid clicking on unfamiliar links.
2. Monitor your accounts
Regularly review your bank accounts and credit scores for any unusual activity. Keep track of your savings and expenses in case anything is lost. If you see any unusual activity or loss from your accounts, report it immediately to your bank. Being alert and having a quick detection can prevent further financial or personal damage.
3. Create strong passwords
Avoid using predictable passwords and passcodes like birthdays, favorite words, your name, or familiar street names. Use complex combinations of letters, numbers, and symbols to make it more difficult for hackers to crack your accounts.
4. Quadruple check transactions
Always verify the authenticity of online sellers, websites, or payment platforms before making transactions. Scammers often use dummy accounts to mimic legitimate businesses or even buy followers to make it look more convincing they have a wide range of following and can be trusted. Check reviews, verify contact details, and ensure secure payment options.
5. If you do get scammed, here’s what you can do:
a. Immediately secure your devices and change passwords.
b. Contact your bank or e-wallet provider to freeze transactions.
c. Report the incident to authorities such as the National Bureau of Investigation (NBI), the Cybercrime Division of the Philippine National Police (PNP) or contact Inter-Agency Response Center (I-ARC) Hotline 1326.
d. Lastly, document everything. From the conversations to the phone calls, make sure you have enough evidence to track down these scammers.
While the holiday season amplifies the risk of scams, these threats continue to persist all year. It is a daily responsibility to protect your digital identity and to stay vigilant at all times. By doing so, you can enjoy the holiday season without falling prey to cybercriminals and not be victims of cybercrime even after the holiday season. Remember, your caution today can save you from a scam tomorrow.
As published in The Manila Times, dated 04 December 2024