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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.
To the veterans, baby boomers, old guards, or the so-called “dinosaurs,” the idea of office work is a 9-to-6 affair that involves sticking to a routine and ticking off tasks designed and intended to meet an organization’s objectives and goals.
This “well-oiled machine,” where individual parts function in accordance with a particular template to deliver an intended objective, is a management concept taken from the Industrial Revolution and perhaps, inappropriately adopted by service organizations.
I say “inappropriately adopted” because the intangible output of a service organization is far more difficult to measure compared with a tangible product spec sheet, and machines are arguably easier to tweak for efficiency than a process that involves data, knowledge, systems and people. Why is this “cogs in the machine” management thinking so prevalent and does it still apply in today’s sharing economy?
The current generation does not comprehend the dinosaurs’ command-and-control principles and other management methods. It’s been said many times before and in many other media that today’s knowledge workers demand “flex everything:” flexi-time, flexible benefits, work anywhere policies, dress-as-you-please office environments, quiet rooms and “play” rooms, fully-stocked pantries, mobility across different divisions or offices, customized training and personal development, engaged coaching and mentoring, and so on.
The old guards are naturally aghast—amid all these seemingly personal demands, where is the organization? Can’t employees just perform their tasks in accordance with prescribed processes, policies and standards so that we can hit our goals and targets for the benefit of the organization—and ultimately, the workers? How can management function amid all these flex options?
These are difficult questions to answer, and I suspect something better suited for a sociologist, psychologist or anthropologist to answer. However, let me propose my own theories based on my own observations.
I believe freer markets and globalization, advances in technology and rapid urbanization have created a situation where individuals, particularly knowledge workers in urban areas, are spoiled by choices and they have almost limitless opportunities for self-actualization. This may sound like a sweeping generalization, but I see it everywhere.
I see it in supermarkets, department stores and malls—both brick-and-mortar or virtual—where you can select from a bewildering array of goods compared with even just a decade ago. I see it in the entertainment business, where media is as on-demand as Spotify and Netflix and where you can become an instant star on YouTube.
I see it in the ease and relative affordability of air travel and along with it the rapid flow of ideas and insight from one culture to another. I see it in education, too; not only can you choose from the many schools in your vicinity, but more and more, you have numerous opportunities to satisfy your intellectual curiosity online.
I see it in entrepreneurship. It’s simple to set up an online storefront, to freelance via Upwork or Elance, to self-publish your credentials on WordPress or to market your business on social media. Most importantly, I see it in community-building and cause-supporting. It is now easier than ever to find like-minded people who share a common belief or purpose (or, conversely, for them to find you) through online groups so they can rally together toward furthering that shared objective.
Not only do opportunities abound, but I also believe risk appetites have increased along with it. Your employees’ friends are opening their lives on Facebook, Instagram, Twitter, Snapchat, et al, and your subordinates’ hunger becomes more palpable with every post of success and achievement by their peers.
I recently had two rising talents leave for greener pastures because they had acquired condominiums on current salaries that were far too low to comfortably cover monthly amortization and then they saw high school friends online having properties of their own and landing higher-paying jobs with their similar credentials. Peer pressure and influence have increased immeasurably with the advent of social sharing.
Endless choices, limitless opportunities, and increased appetite for risk all brought about by freer markets, globalization, technology advancements and rapid urbanization. You, the dinosaur, are seeing this change unfold before your very eyes and are still likely trying to comprehend the changes as they happen. While they, your knowledge workers, have known no other way to live.
So, the knowledge workers have more expectations and apply these in their work. They want more choices and are hungry for more opportunities. They want a customized work experience, tailor-fit for their needs and wants. They want flex-this and flex-that because that’s their daily situation outside of the workplace. Along with it is an idealism of sorts, a belief that they can shape their environment to fit their purpose whatever that may be. If they don’t get it, they leave—there are many choices and opportunities out there.
The answer to the question, therefore, is No. Employees will no longer perform work for its own sake and without justification. More and more, they will not accept being treated as mere cogs in the machine. This is because to them, an organization is not a machine but a community. The workplace becomes an extension of who they are and what they believe in. And your organization is the plaza where they congregate to join like-minded people in achieving a shared purpose.
It is no longer enough that organizations service financial needs. Today’s employees expect the workplace to provide for their sense of belonging, self-actualization and shared purpose. For your organization/community to survive, it needs to be deliberate in the articulation of its common values and purpose. Find that, share it, make them believe it—and give them the freedom to choose how to get the work done.
Emiliano ‘Third’ Librea 3rd is a Partner, Head of Advisory Services and Chief Information Officer of P&A Grant Thornton. P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firm in the Philippines, with 20 Partners and over 700 staff members.
As published in The Manila Times dated 09 March 2016