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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.
One day, we will go back to our pre-coronavirus disease 2019 (Covid-19) lives, but it will take a while even after the discovery of a vaccine. As we try to bring back “normalcy” in our society, we sense that our way of living, working and learning will never be the same.
This forced schools to shift their courses to online learning and that has been very problematic. With this new reality, educators all over the world have an opportunity to re-think about how education is to be delivered to succeed.
Despite the technological advancements, educators still largely favor the traditional face-to-face approach. As technology becomes an integral part of our daily lives, it is hard to imagine that it will not have a dominant role in our education system. In emergent situations like the Covid-19 pandemic, educators must totally embrace educational technology and online learning.
What is online learning and what is not?
Online learning is described as an emerging approach where students access education anytime and anywhere using a range of technology tools either asynchronously or synchronously.
Many schools resort to emergency remote teaching by lecturing online via Zoom or MS Teams. This is essentially not online learning since students cannot learn at their own pace. Our school curriculum is simply not designed for online delivery and bring it online using web-conferencing platforms will not work over the long term.
Technology integration in schools
Understanding technology integration is important because schools tend to select technologies that are inappropriate or unfitted. Technology integration is the well-coordinated use of digital tools for problem-solving, deeper learning and understanding. It facilitates access to curriculum but is not the curriculum itself. Educators must guide learners in using technology as a tool for accessing and understanding educational content.
Successful technology integration in the classroom lies in understanding technology’s role in the classroom and placing our students — not the technology and the teacher — at the center of instruction. Technology is merely the vehicle that makes these things happen.
The need for a single digital learning platform
To succeed in online education, schools need to use a range of technologies, including a learning management system and content authoring tool. While it is tempting to use educational technology (ed-tech) tool out there, schools need to have a single digital platform that students can always visit to access content, tools, activities and assessments.
A learning management system (LMS) is a software application that provides the platform to manage all aspects of the learning process from content to assessments; while a content authoring tool is a software used to create content. These systems are quite expensive, difficult to implement, and unaffordable by smaller schools.
There are “free” LMS platforms that schools can use like the Google Classroom, but “free” is not true to its word as it misses a lot of the great things that paid LMS has to offer, such as gamification, microlearning and other engaging features.
When investing in an LMS, choose the authoring tools to allow educators to create interactive and engaging content. These will help educators spice up their usual teaching slides and videos by adding interactive elements, such as quizzes, multi-media or embed external resources.
Training teachers to successfully teach online
Many schools rush to move instruction online, leaving many educators unprepared and unfamiliar with online teaching. This is not an ideal, but educators must fly and reach for the sky.
Educators are doing their best in an extraordinary and endlessly changing situation, but their lack of training to successfully teach online has created a patchwork of quality and gaps in accessibility. The biggest challenges facing schools are the lack of financial resources and educators lack enough time for training to understand how to teach online.
Planning, designing and implementing an online course take time and the best training is
tailored to meet educators where they are and build on their knowledge.
Rethinking about assessments
Another challenge of online education is the teacher-students setup is no longer in the same room to collectively learn. In a virtual setting, most of learning time is driven by tasks that require a high level of self-direction.
In a traditional setting, countless policies and procedures put in place to maintain the integrity of assessments process, while in a virtual environment, things are very different. Teachers are not physically present to monitor their students when conducting activities and assessments. Now, everything is possible, and schools can never deliver assessments in the same way they have before.
Educators must rethink about assessments and start moving away from the multiple-choice exam design. Educators can instead prioritize longer, student-driven assignments and tasks, such as collaborative projects, online presentation, case studies or even blogging.
Effective assessments in a virtual environment require schools to map and choose the right technology to use for assessments.
Educators on the other hand should provide authentic assessments that mimic more real-world interactions and design assessments that measures actual learning outcomes.
Blended learning as the new normal in education
In the new reality, more classrooms will adopt and implement blended learning, which has emerged as a far more flexible model for learning. The use of education technology has led to the rise of this new approach.
Why is blended learning the future of education?
This is because it caters to the strengths and weaknesses of each student than traditional face-to-face approaches to education. Blended learning is beyond the barriers of space and time.
An important step in effective implementation of blended learning in schools is to choose the right digital learning platform (i.e. LMS). This will enable personalized learning for every student, allowing them to learn at their own pace, and access multiple content types so that they can choose the format that best helps them understand complex concepts.
By the time the world returns to “normal,” schools would have adapted to online learning, invested in digital learning platforms, and discovered how much more cost effective it can be than traditional education.
So, which do you prefer? Traditional or blended? Take your pick.
Jess Obaña is a Senior Managing Consultant 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 24 Partners and more than 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 anton.ng@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 28 October 2020