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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.
In the quest for sustainable development, the Philippines faces a myriad of challenges spanning social, economic, and environmental domains. However, the cornerstone to overcoming these challenges lies in the establishment and implementation of good governance across all levels of government, from the national leadership down to the smallest administrative units, the barangays. This article delves into how good governance can be the catalyst for sustainable development in the Philippines, addressing the multifaceted issues that hinder progress.
Good governance is characterized by principles such as transparency, accountability, participation, and rule of law. When these principles are embedded in the fabric of government operations, they create an environment conducive to sustainable development. Here is how each principle contributes:
- Transparency: Ensures that government or business actions and decisions are open to scrutiny, reducing corruption and fostering trust among citizens.
- Accountability: Holds public officials responsible for their actions, ensuring that they act in the best interest of the public.
- Participation: Encourages citizen involvement in decision-making processes, ensuring that policies reflect the needs and aspirations of the people.
- Rule of Law: Guarantees that laws are applied equally to all, protecting the rights of citizens and maintaining social order.
Social issues such as poverty, inequality, and lack of access to education and healthcare are prevalent in the country. Good governance can address these issues by ensuring that resources are allocated efficiently and equitably. For instance, transparent budgeting processes can ensure that funds meant for social services are not misappropriated. Accountability mechanisms can ensure that public officials deliver on their promises to improve social services.
Moreover, participatory governance can empower communities to voice their needs and participate in the development of solutions. When citizens are involved in the decision-making process, policies are more likely to be effective and sustainable. For example, community-driven development programs that involve local stakeholders in planning and implementation have been shown to be more successful in addressing local needs.
Economic development is another critical area where good governance plays a pivotal role. Corruption and inefficiency in government can stifle economic growth by creating an unpredictable business environment and discouraging investment. By promoting transparency and accountability, good governance can create a stable and attractive environment for both local and foreign investors.
Furthermore, good governance can enhance the effectiveness of economic policies. For instance, transparent procurement processes can ensure that public funds are used efficiently, leading to better infrastructure and services that support economic growth. Accountability mechanisms can ensure that economic policies are implemented as intended and that public officials are held responsible for their performance.
Environmental issues such as deforestation, pollution, and climate change pose significant threats to sustainable development in the country. Good governance can address these issues by ensuring that environmental regulations are enforced and that public officials are held accountable for their actions.
Transparency in environmental governance can ensure that information about environmental policies and their implementation is readily available to the public. This can enable citizens to hold public officials accountable and to advocate for stronger environmental protections. Participation in environmental decision-making can ensure that policies reflect the needs and priorities of local communities, leading to more effective and sustainable outcomes.
Barangays, the smallest administrative units in the Philippines, play a crucial role in the implementation of good governance. As the closest level of government to the people, barangays are in a unique position to address local issues and to ensure that the principles of good governance are applied at the grassroots level. For example, just by making sure that all streets in their respective jurisdictions are clear of obstructions, they can help significantly improve the traffic condition in Metro Manila and reduce the daily losses of the country due to traffic.
By promoting transparency and accountability in barangay governance, local leaders can build trust and confidence among their constituents. Participatory governance at the barangay level can empower citizens to take an active role in their communities and to contribute to the development of solutions to local problems. Solutions, however, should consider the impact on others; they should not only be inward-looking but also outward-looking.
Moreover, barangays can serve as models of good governance for higher levels of government. By demonstrating the advantages of good governance at the local level, barangays can set a powerful example for other government tiers to follow. These positive changes can create a ripple effect, transforming the entire nation into a more cohesive, productive community and paving the way for the Philippines to achieve first-world status.
I strongly believe that good governance is the key to achieving sustainable development in the Philippines. By promoting transparency, accountability, participation, and rule of law, the government can address the social, economic, and environmental challenges that hinder progress. From the national leadership to the barangays, the principles of good governance must be applied consistently and effectively to create a sustainable future for all Filipinos.
The Philippines is very blessed compared to many nations in terms of natural resources, but it ought to have a robust and effective system of good governance for such blessings to become real blessings for each and every Filipino as well as people of other nations across the globe. As the Philippines continues its journey towards sustainable development, the importance of good governance cannot be overstated. It is the foundation upon which a prosperous, equitable, and sustainable society can be built. By embracing the principles of good governance, the Philippines can overcome its challenges and achieve its development goals, ensuring a better future for all its citizens.
As published in The Manila Times, dated 27 November 2024