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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.
There are certain periods when it seems like I am trying to do a lot simply because I overestimated my capacity.
Between completing my work responsibilities, entering into coaching engagements, and pursuing spiritual and learning growth initiatives, I was on the brink of burning myself out.
At times, I would ask myself: What is the point of doing all these things? Do I really need all these in this stage of my life? I tried to convince myself that I chose to do these things because I knew I would gain something out of it.
I was just being true to my word of minding my growth. What if I decided to drop some things I am currently doing by justifying that I will be fine without them anyway; that I can face the consequences of my actions. The resources already spent—money, time, and effort—will all be wasted. I am the only one who will be affected anyway.
Over the past two years, I have written several articles about growth—from being mindful about it to funding. I even broached the topic of quitting as a tool for growth. In most of my articles, I focused on being able to develop an internal motivation to pursue growth opportunities and to be persistent in overcoming hurdles as one pursues growth initiatives. Pursue growth because you owe it to yourself to do so.
In few instances, however, I brought up the topic on motivation—how can one sustain the pursuit of growth initiatives despite the hurdles and setbacks along the way.
Growth takes time which means patience is required. Growth is painful as well, which means persistence and resilience are needed. Having a single and narrow source of motivation such as pursuing activities to better one’s self might not stand a chance when one is toiling while reaching for growth.
In his book, Habits of the Heart, American sociologist Robert Bellah wrote. “To make a real difference… (there would have to be) a reappropriation of the idea of vocation or calling, a return in a new way to the idea of work as a contribution to the good of all and not merely to one’s own advancement.”
Similar to how Bellah looks at work to be performed as a contribution to the good of all, we can also look at pursuing growth as something beneficial to others, or at least for the people that truly matter to us. This would further expand the basis for our motivation. Apart from working on improving oneself for advancement, there is another element, something that is far more stable, to anchor our motivation.
In an anecdote I read in Timothy Keller’s book, titled Every Good Endeavor, Mike Ullman, former chief executive officer (CEO) of JC Penney and the current chairman of Starbucks, retold a story on one of his conversations with Starbucks founder Howard Schultz when Ullman was first offered the JC Penney position.
Ullman, who had some hesitations at accepting the CEO role at JC Penney, was eventually convinced to take the job because he saw an opportunity to reorient 25,000 retail employees to seeing that their work matters and that serving their customers is an honorable career.
He saw this new work opportunity for him to grow as a means to make a difference in the lives of people beyond himself. By expanding his motivational horizon, Ullman accepted the CEO post because of the pull of what he can bring for the benefit of JC Penney employees and customers.
Keller further argued in his book that doing things merely for oneself will not lead to success in the long run.
He wrote: “If the point of work is to serve and exalt ourselves, then our work inevitably becomes less about the work and more about us. Our aggressiveness will eventually become abuse, our drive will become burnout, and our self-sufficiency will become self-loathing. But if the purpose of work is to serve and exalt something beyond ourselves, then we actually have a better reason to deploy our talent, ambition, and entrepreneurial vigor—and we are more likely to be successful in the long run.”
The message is clear: our motivation, our reasons for pursuing growth should be anchored on something that is beyond ourselves.
It should be something that would make us endure and persevere. It should be something that, even if we go home every day physically and mentally exhausted, our spirit is still keen on continuing on our journey for growth.
Anton Ng is a Partner of the Audit & Assurance Division 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 over 900 staff members. We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to Anton.ng@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com.
As Published in The Manila Times dated 26 September 2018