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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.
For leaders and the bubbles we are in
29 Mar 20176:04 a.m.: My wife needs the car, so I am using Uber today. As we traverse the 17-kilometer route, I chat briefly with Michael, who is driving me to Makati today. He is surprised with his designation to pick me up, considering he was a good four kilometers away from the pickup point. Apparently, this is only one of his concerns as a partner-driver; he is also concerned that his service rate is plummeting. I don’t empathize with him much because, at this point, all I want to do is take a nap.
8:17 a.m.: I step into my office and look for my table. It got buried under the mountain of reports that seem to have piled up overnight and had been quietly begging for my attention since the night before.
11:15 a.m.: After three hours of pure working bliss, my stomach starts complaining. I step out to grab some lunch.
12:00 noon: I pay my barber a visit. While Eugene is trimming my hair, another customer steps in, looking for one of the other barbers who apparently did not report for work this day. Eugene explains to me that some of the barbers have been having issues with the new shop policies, which could be the reason why some of them skipped work today. If only the owner knows about this, he sighs… The owner has been making himself scarce at the barbershop these days. I don’t express much sympathy as well because at this point, all I want to do is go back to work.
12:33 p.m.: I’m staring at my laptop once again. I answer emails, execute some more administrative stuff, sit in several short update meetings, and when I look at my watch, it is already…
4:16 p.m.: My eldest daughter is calling. She facetimed (Yes, I just used FaceTime as a verb) me to seek help with one of the math word problems I specifically prepared for her. Praise God for technology because it is easier to discuss math problems when I can make out her thought process as she solves them. Before we bid our goodbyes, I ask how the first day of her exams went. She only says, “It’s fine.” I’m not really satisfied with the answer but, since she is just answering my question, I can’t complain.
10:17 p.m.: With weary eyes and exhausted mind, I’m calling it a day. I sit on the back seat of the Vios that picked me up. I put on my headphone and listen to an episode of the Harvard Business Review podcast. The guest for this episode is Hal Gregersen, a senior lecturer at the MIT Sloan School of Management, and his topic, entitled “Bursting the CEO Bubble,” is about CEOs, or any leader, being trapped oftentimes in their own bubbles.
Remember when Uber CEO Travis Kalanick was caught on camera having an argument with Fawzi Kamel about premium pricing for Uber Black? After Kamel expressed his concerns over how Kalanick is dropping prices and changing the business, which eventually drove Kamel into bankruptcy, Kalanick fired back by telling Kamel that people like him don’t like to take responsibility for their own actions. That response made Kalanick feel he has been out of touch with his own partner-drivers. Problems such as these arise because leaders sometimes create, whether intentional or not, a cocoon that isolates them from everything other than the good news. Oftentimes, this bubble prevents leaders from identifying unanticipated risks or the “unknown unknowns” (a term made famous by former US Defense Secretary Donald Rumsfeld).
11:03 p.m.: I am preparing to go to bed when the thought about Gregersen’s recommendations on how to burst the CEO bubble, in line with the different conversations I had today, hits me. I imagine: what if it was Kalanick who was chatting with Uber’s Michael this morning. How might have Kalanick responded? When Kamel confronted him, Kalanick wasn’t actually prepared to be wrong; hence, he became defensive. Based on Gregersen’s idea, a leader who already burst his own bubble would be willing to be unexpectedly wrong on some of his decisions. Kalanick would have listened and tried to understand whether there were merits to the concerns being raised. If his conclusion was that he made a bad call, he would be willing to adjust, and do so quickly.
Regarding the concerns at the barbershop, Gregersen might have advised the owner to be ready to be uncomfortable with his own people. Yes, the owner might already have an idea that his barbers do not agree with the new policies. Yes, difficult questions might be asked when he finally visits the barbershop. But then visiting the barbershop would be the only way for him to find out what the real concerns were. Without the willingness to leave his comfortable “owner cocoon” and be in that uncomfortable situation, the owner would not discover what was truly happening in the trenches.
Lastly, I, as the CEO of our family, and also tasked to be in charge of school concerns, would have to start learning how to frame the right questions, lest I’ll always get the “It’s fine” kind of answers. I should have asked questions such as “Which particular question did you spend the most time on?” or “If we are going to redo our study sessions, how should we do it to better prepare you for your exams?”
11:59 p.m.: Almost drowsing off. I’m sure reports are again magically accumulating on my table. I got to start bursting my bubble at work.
Anton Ng is a partner at Audit & Assurance 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 more than 800 staff members.
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As published in Manila Times, dated on 29 March 2017