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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.
Feeling left out has a lot of harmful effects to our emotional and mental well-being. In fact, when we do not feel like we belong in a particular communal setting or activity, the social ties that help manage our stress levels are eroded. Over time, these small emotions associated with feeling left out balloon, and we are often left to deal with higher levels of stress, much more than we can handle.
To paint a clear picture of the magnitude of social isolation’s effects, a 2018 study by health insurance firm Cigna showed that half of 20,000 Americans surveyed admitted feeling lonely, with nearly half or 40 percent saying that they feel like their social relationships are not meaningful. The report included research that shows isolation is as damaging as smoking 15 cigarettes a day, having an alcohol abuse problem, or twice as much harm as obesity.
It is valid to acknowledge that self-isolation and loneliness are not confined to the office. It can creep up on us outside the work setting, at home, or during our social activities and interactions. Loneliness and not feeling a sense of belonging have long since existed and has plagued us during various stages of our lives, not just at work. However, it is equally sound to consider that there are more people reporting loneliness not because they are getting lonelier, but because they are given more opportunity now to share their feelings. These reported figures may not even include those who are not as comfortable and open to share their struggles.
According to Grant Thornton’s 2022 Women in Business (WIB) Report, 95 percent of mid-market businesses surveyed are now more adept at inculcating a culture of diversity and inclusion. This is an increase from 92 percent recorded in the 2021 WIB Report, suggesting that more organizations today are eyeing to implement more initiatives geared towards promoting employee engagement. In the Philippines, the Women in Business report shows that 39 percent of respondents agreed that these new work practices have also benefited women employees and urged them to greatly advance their careers and take on more leadership roles.
While it is comforting to know that more companies today see the good side of prioritizing gender equality and the well-being of employees, there is much to be done when it comes to alleviating feelings of social isolation in the workplace. On top of its effects to health, the Center for Workplace Mental Health emphasized in one article that these emotions of not having meaningful relationships can affect work productivity, lead to disinterest in fulfilling work duties, and in the extreme, lead to employee resignation.
So, what can businesses do to foster a culture of belongingness at work?
Ensure no one feels like an “outsider”
In one article, research and consulting firm Gartner cited that “outsiderness” can make people cave in and feel discouraged to show their strengths and potential. Feeling left out can lead to one feeling demotivated, and that it “undermines their focus and performance”.
As much as possible and as needed, it will be helpful to engage all employees in the implementation of policies particularly those that have a direct effect on their duties. Improving communication ties are also still key in making sure that all employees are on board with each policy being or are currently adopted by the company. Ultimately, they are the ones who will be benefited by such programs; hence, their insights should always be considered.
Implement diversity and inclusion training
A Harvard Business Review article highlighted that training courses focused on addressing gender bias at work were able to have a positive effect on those who were described as least supportive of their female colleagues.
These trainings can be leveraged to largely improve not just company programs on creating a gender equal company culture; they can also be used to engage all employees and address other issues such as how to encourage a more inclusive environment that will be supportive for all. These courses, coupled with regular mentoring sessions, can do a lot to help companies in their crusade to make all staff feel needed and that they belong.
Reward and provide incentives
How do you get everyone to cooperate in your inclusion and engagement strategies? The trick lies in answering this question – what is in it for them aside from the positive outcomes of such initiatives? It is best to outline and inform employees that they will be receiving rewards and incentives for being open and cooperative. Make each staff member realize the importance to the company of them communicating their thoughts on whether they feel a sense of belonging at work. Inform them that their candidness will help management draft new programs aimed at solving this issue.
In the end, while ensuring that everyone feels appreciated, and that he or she truly belongs at the workplace, is management’s responsibility, this is more easily done when employees are properly advised and well-informed of management plans aimed at reducing feelings of loneliness or self-isolation. All these should stem from a common goal: no one gets, or should feel, left behind.
As published in The Manila Times, dated 08 June 2022