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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 Japan International Cooperation Agency (JICA) has pegged at P2.4 billion the loss of potential income that the traffic jam in Metro Manila has caused every day in 2014 and P3 billion in 2015. The amount of the loss and the percentage of increase in a span of one year are staggering.
The problem is not just land traffic; it is also air traffic. For the past two years that I have been traveling in different parts of Visayas and Mindanao, I became accustomed to the air traffic congestion. In my experience, there is a correlation between the heavy stream of traffic in the sky and the road congestion in Metro Manila. Imagine the arrival of flights every 5-10 minutes and calculate the hassle of loading and unloading each aircraft, assuming it is an Airbus A340-300 with a capacity of 275 to 300 passengers. If each of these passengers gets picked up all at the same time, imagine the congestion of the airport road and the nearby streets. Aggravating the situation is the ongoing construction of the skyway along the airport road.
Aside from the quantitative aspect of our land and air traffic problem, what about the variables that are not easily quantifiable, such as the effect on our health, our relationships and the flexibility to do the things that we want to do outside our homes? that If these were also factored in, I believe the daily estimated billions of pesos in foregone income in the JICA estimates would be much higher.
On a regular morning, it takes me 30 to 45 minutes to get to my office in Ayala from BGC and an hour to 75 minutes when I leave in the evening. Without traffic, I navigate the same route in five to ten minutes. I could use the extra 20 to 45 minutes travel time to exercise or rest.
What about those who live outside the city, for example in Valenzuela or Balintawak? I have a friend who has to leave his place at around 5:30 am everyday just to make sure that he will be in his office in Makati by 8:00 am. Going home at night is even worse.
The crippling traffic is an unnecessary burden to our way of life, and I look forward to the day when I do not automatically add 30 minutes to an hour of my daily travel plans. But what is currently being done to improve our traffic problems? Perhaps a lot, but I have not felt any of it yet or maybe I am just too disillusioned to think that there are immediate solutions that do not require a huge amount of budget or capital expenditure. Experts say that the government will have to build more bridges, wider roads, and more railways to decongest Metro Manila but all of these will take years and huge amounts of funding to complete.
One challenge is the number of vehicles put on the roads without culling the old ones. And aside from the high volume and ever-increasing number of vehicles on the streets, there are plaques that block the road networks – vehicles parked on both sides of the street, roads barricaded with plants and used tires, vendors setting up their stalls along the roads, kids and even adults using roads as playground and other human obstructions. Moreover, there is the utter lack of discipline on the part of most motorists including some motorists who cover two to three lanes just to make U-turns and the drivers of jeepneys, tricycles, and pedicabs that stop in the middle or exactly at the corner of the road to pick up or drop off passengers. Traffic enforcers also contribute to the problem when they position themselves in the middle of the road or lane but do nothing at clearing street corners of public utility vehicles (PUVs) and barkers loading or unloading passengers.
The traffic problem is really complicated but there are simple and easy things we can do like prohibiting streets being used as parking lanes and playground, prevent PUVS from loading and unloading passengers at street corners, etc. Will finding solutions for other obstructions require giving the President emergency powers or do they simply require political will of local government officials? What are the actions that municipal mayors, councilors, barangay captains and other local government officials take in this regard? And, –more important, what is each of us, the citizenry, doing to help solve this problem? Isn’t making our transportation system part of our common responsibility as citizens of this nation? If each of us acts responsibly, the loss of potential income from traffic can be significantly reduced.
Chris Ferareza is a Partner, Audit & Assurance and In-Charge of Training
As Published in Manila Times, dated August 3, 2016