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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.
Digital transformation for the customer-obsessed organization
20 May 2020This coronavirus disease 2019 (Covid-19) pandemic is edging us closer towards an inflection point, where cyberspace becomes the primary channel for businesses to reach, engage and retain customers. At this critical point in time, organizations must decide whether to adapt and evolve or remain unchanged. The current state of affairs is that technology has become the buoy that is keeping businesses afloat.
Organizations that see this crisis as an opportunity are fearless enough not to scale back on their digital transformation efforts, but rather push forward as they navigate various challenges. Visionary organizations that are technology-heavy, data-driven and can afford to innovate constantly get to live two to three years into the future. These kinds of organizations usually gain their head start by experimenting with and deploying advances in technology to push the envelope for idealistic social reforms, giving small businesses a glimpse of a thriving society with hyper-connected consumers happy to offer personal data in exchange for personalized services and experience.
Larger enterprises have laid the groundwork for an ecosystem where smaller digital-first businesses can operate. Technology has matured such that the price of admission is rather low compared to decades ago. The heavy lifting is already in place, and businesses are afforded boundless digital distribution channels, developed financial networks and robust telecommunications. In addition, evolving technologies, such as artificial intelligence (AI), machine learning, robotics, blockchain, big data, robotic process automation, cloud computing, natural language processing, AI-powered chat bots and cybersecurity have not only lowered the barriers of entry, but have also accelerated the pace of innovation.
Amid this backdrop, small enterprises are inspired to take advantage of a mature digital platform to deliver a positive digital experience for customers, employees and other key stakeholders. Organizations planning or revising their technology initiatives need to understand these evolving technology options and apply it to deal with their most-pressing business challenges.
One fundamental challenge is the focus on customers and on how connected consumer demands increasingly drive business strategy. Take it from Jeff Bezos, the man behind one of the largest and most influential economic and cultural forces in the world: Amazon. Bezos built a business that has reinvented the future of work, commerce and technology, pioneering products and services that gave him a head start with no like-minded competition coming in for two to seven years. He said that the number one thing that has made Amazon successful by far is the company’s obsessive-compulsive focus on the customer as opposed to obsession about the competitor.
Netflix, another customer-obsessed enterprise, aspired to discover what delights its customers through a scientific process. This notion of customer science, a data-driven take on developing customer insights, propelled Netflix to use personalized technology to delight customers, improve margins and provide a compelling experience that is difficult to replicate.
In both cases, the technology spend of Amazon and Netflix have always been customer-centric, and their customer-based metrics have driven these investments. Organizations should recognize the importance of customer interfaces, preferences, needs and demands and should adopt technology-enabled services to cater to them. A customer-focused value proposition at the heart of any digital transformation effort offers a huge potential upside for business. Success in this aspect can directly affect consumers by improving their experiences and their lives. This core principle of digital transformation can string together the various building blocks of a gradually changing business model geared towards a customer-obsessed proposition.
To deliver on that challenge is to execute a well-designed enterprise data strategy. One of the building blocks is digitization. Data governance and management has become a priority for organizations of all sizes, because they can leverage data to fuel technology and enable the potential of new solutions across the enterprise. But first, organizations need to get their data right. This means improving data collection and data analysis. Organizations can start by fixing data sources and building efficient models that churn out clean, rationalized and valuable data.
Data management should be more than just sourcing data from individual software solutions; it is increasingly important to see and understand data across the enterprise. Every department, business line and function should have ready access to quality data, as it can provide decision-makers with intimate knowledge of the enterprise. To have that level of visibility, organizations need to digitize every aspect of the business. Businesses can streamline the process by applying intelligent character recognition technology and automation to migrate paper-based data into a digital format. The organization should then ensure that it maps out its digitized data and builds digital foundations that are flexible enough so they can be used for current data analytics tools and visualisation techniques, as well as for future technology solutions.
Robust data management is essential for strategic decision-making. Establishing a single source of the truth for data about your customers, employees, supplier partners and other key stakeholders are fundamental to any meaningful strategy. If organizations can get data in the right form, to the right people, at the right time, business leaders can make informed decisions.
The Covid-19 crisis is providing opportunities for businesses to collect and evaluate real live data that can help them see through the eyes of their customers. It has allowed organizations to test a hypothesis, perform experiments and develop innovative ways using low-cost and mature technology-enabled solutions to reach out, retain and keep customers engaged.
Paul Gonzales is a director of 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 over 900 staff members. We’d like to hear from you! Tweet us: @GrantThorntonPH, like us on Facebook: P&A Grant Thornton, and email your comments to paul.gonzales@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 20 May 2020