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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.
“I have the duty to hope.”
These are the words of Ms. Nanette Medved-Po, founder of Plastic Credit Exchange (PCX), when asked what keeps her inspired and enlightened to continue the fight against plastic pollution during her interview with the veteran CNN broadcast journalist, Mr. Rico Hizon.
Alarming State of Plastic Pollution in the Philippines
The Philippines produces a huge amount of waste and ranks as the world's third-largest contributor to ocean plastic pollution, as indicated by a 2015 study published in the Science journal. Adding to this alarming state of plastic pollution in the Philippines is the country's identification as a "sachet economy," where numerous items are vended in compact, budget-friendly, and disposable packets known as "sachets." As a result, the amount of plastic waste has increased at an alarming rate since the invention of the material, causing environmental problems on a global scale.
Duty to Hope
Throughout history, “hope” has always been an integral part of humanity’s story, driving us to seek innovative and sustainable solutions in the face of adversity. In the context of plastic pollution, we witnessed a game-changing regulation that instills hope in the hearts of many, fostering a collective sense of responsibility to tackle plastic waste at its source—the Extended Producer Responsibility (EPR) Act of 2022.
The recent DENR’s launch of its EPR campaign entitled “Loopforward; Linking Opportunities and Partnerships Towards Circular Economy through EPR,” marks a significant shift in how we approach plastic waste management. Aiming for plastic neutrality by recovering their plastic packaging waste, Obliged Enterprises (OEs) are mandated to implement EPR programs. Moreover, micro, small, and medium-sized enterprises (MSMEs) are encouraged to partake voluntarily, further solidifying the commitment of businesses in the fight against plastic pollution.
Duty to Act: Fostering Collaborative Networks
Punongbayan and Araullo (P&A Grant Thornton), one of the leading auditing and consulting firms in the Philippines, has been at the forefront of helping clients drive sustainability and ESG. It has also integrated sustainability into its operations. Recognizing the urgency of the plastic waste crisis, the Firm has embraced the duty to hope and partnered with PCX. As one of PCX’s official trusted partners for independent third-party plastic footprint verification, P&A Grant Thornton, together with the other PCX partners, plays a pivotal role in promoting responsible plastic waste management practices.
Furthermore, P&A Grant Thornton also registered with the Philippine Alliance for Recycling and Materials Sustainability (PARMS) to expand its reach and provide support to the latter’s members.
Through its plastic footprint verification (and later, EPR compliance audit) services, P&A Grant Thornton supports the government’s initiatives on addressing the plastic waste crisis by enabling OEs, particularly those affiliated with PCX and PARMS, as well as sustainability partners pursuing PCX's Ecolabel Certification, to meet their compliance requirements under the EPR Act of 2022. By providing businesses with support to quantify and manage their plastic waste, P&A Grant Thornton empowers them to take tangible steps towards a more sustainable future.
Duty to Act: Building Bridges for a Greener Tomorrow
While the EPR represents a remarkable leap forward, it also presents challenges for companies transitioning to more eco-friendly practices. P&A Grant Thornton understands these concerns and is committed to addressing them. The Firm, consistent with its thrust of promoting sustainability, offers tailored solutions and support to assist OEs, collectives, and Producer Responsibility Organizations (PROs), including forward-looking MSMEs, in bridging the gap with the EPR.
By providing guidance and resources to clients, P&A Grant Thornton aims to empower businesses to navigate the changing landscape of plastic waste management successfully. Through collaboration and shared responsibility, the Firm strives to create an ecosystem that nurtures sustainable practices and promotes environmental stewardship across industries.
Embracing the Duty to Hope and Act for a Sustainable Future
In a world grappling with numerous environmental challenges, hope and action emerge as the cornerstones of our efforts to build a sustainable future. The passage of the EPR Act of 2022 in the Philippines presents a transformative step towards a plastic-free tomorrow. P&A Grant Thornton, a firm that commits to a more sustainable future, will continuously show its unwavering support to businesses to navigate this new journey for the businesses to play their part in shaping a greener, cleaner, and more responsible world.
Together, let us embrace the duty to hope and take concrete actions, for it is hope that will guide us towards a brighter, more sustainable future where plastic pollution has been overcome and the harmony between human progress and environmental preservation is achieved. Through collaboration and collective action, we can turn hope into a powerful force for positive change, leaving a lasting legacy of a healthier planet for generations to come.
As published in The Manila Times, dated 06 September 2023