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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.
A few days back, while I was having lunch with my four-year old daughter, I asked her if she wants to study at the University of the Philippines, where her mother and I studied. Instead of answering my question, she told me that, when she grows up, she wants to work at her mom’s office. “Not in my office?”, I queried her, not because I wanted her to follow in my footsteps, but because I was curious about how she would reason out. She resoundingly shook her head, while telling me that I have too many “homework,” which I suppose she is not a fan of. “What about mom’s work?”, I continued to ask her. She replied that her mom doesn’t have homework, and “all she does are attend meetings (telephone conferences) and text her officemates.”
Great leaders, they say, create more leaders. This is particularly important for organizations whenever we talk about succession planning. In our respective organizations, we plan to ensure that new streams of leaders are ready to take over when the current holders of leadership positions retire or leave the organization. Apart from identifying who these new set of leaders are, we also focus on mentoring these up-and-comers to prepare them for their future in the organization.
That is all good until we realize that the people we are eyeing to succeed us do not want to. Either their career plan does not include staying longer in the organization, or they have certain perceptions about the demands on the current leader that makes the position undesirable.
Seldom do we think about how successors view current leaders, so much that sometimes it can be detrimental to our succession plans. We often focus too much on teaching the X’s and O’s that we forget the other factors our people might consider. When they see us work, do they like what they see? Are they inspired to aim for our position when we interact with them? Do they entertain the thought that, someday, they will be sitting on our chair?
When we talk about preparing the next generation of leaders, we often forget about whether the successors we are preparing like to succeed us. It is possible that, whenever they see us, whenever they think about our responsibilities and the pressures we are dealing with, they are not inspired to move up the ranks; they would rather retain their current positions or move out of the organization, whether it is because they are not confident they can handle the demands of the higher position or they just do not want to be like us.
People see things differently, shaped by their own biases and experiences. Whether it is about long hours in the office or facing the demands of stakeholders left and right, there are people who may not want any of those in their lives.
Part of our role in the succession planning strategy is to determine what our potential successors are aiming for, what their goals are, and what aspirations they have. It is important for us to also understand who they are and what values they hold highly. It should never be enough for us to assume that our high performers are delivering, because they aspire to be future leaders of our organization. There are simply people who have strong work ethics, regardless of their career plans. Therefore, it is very important that, apart from identifying who the potential successors are, we know our people deeper than the results they deliver.
Another matter we need to be mindful of is how our people see us in the work we do. Is their perception close to our reality? In case there is misalignment, we may choose not to clarify this with them but, remember, it is in the best interest of the organization to ensure that the potential successor’s perception of the position they are being prepared for is correct.
I am not espousing that we become pretentious to make our positions desirable. Neither am I suggesting that we project a more “likeable” image. This is a call for us to remember that succession planning can be derailed, simply because we do not know our people enough; that there is not enough transparency between the leadership and its people to plan collectively for the future of the organization. |
As I look back on the conversation I had with my daughter, it led me to think whether her observation is correct. Am I really always doing my “homework” when I am at home? It dawned on me, however, that regardless of whether her observation is correct, if I want her to make the best decision for her life, the way she perceives the things I do will be a factor in the decisions she will eventually make. A little more transparency between us two would not hurt.
Anton Ng is a Partner of the Audit & Assurance 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 21 Partners and over 900 staff members.
As published in The Manila Times, dated 23 January 2019