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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.
I am a CPA, a nation builder
20 Sep 2017“A dynamic force toward national prosperity and excellence with a global perspective.” That was the vision set when the Roadmap for the Accountancy Profession was adopted in 2007. A strong, dynamic force of more than 175,000 Certified Public Accountants (CPA) currently registered with the Philippine Regulatory Commission (PRC) – Board of Accountancy (BOA) aspire to be an active partner in nation-building through the profession’s four sectors: commerce and industry, public practice, education and government.
The profession has been an active partner in nation-building through the role of CPAs in Commerce and Industry by providing financial reports on the operating results and financial conditions of companies, which become the businessman’s basis for making economic decisions to enhance their competitiveness. With the attest functions of CPAs in public practice, such financial reports are given greater reliability and credibility when used by players in the capital markets, which in turn, help build the country’s competitiveness.
CPAs in the government contribute to creating greater people confidence in government institutions through transparent financial reporting of the sources and uses of government funds and accountabilities. Before all these CPAs obtained their professional licenses, they were trained and developed by CPAs in education as part of meeting the country’s CPA needs. More importantly, the financial reports produced by CPAs are the primary basis of companies in paying their taxes. The prompt collection of these taxes contributes and accelerates national development, which benefits both the government and the people.
Prominent CPAs have stepped up and gone beyond their role through their direct involvement in nation-building by joining government service. To name a few, we have Cesar Virata, former prime minister and minister of the Department of Finance; Alberto Romulo, former secretary of the Department of Foreign Affairs; the late Rizalino Navarro, former secretary of the Department of Trade and Industries; Corazon dela Paz-Bernardo, former president and CEO of the Social Security System; Jaime Laya, former governor of Bangko Sentral ng Pilipinas; Manny Villar, former speaker of the House of Representatives and Senate president; and Antonietta Ibe, SEC commissioner and former chair of PRC and BOA.
Given the critical and significant role of CPAs in nation-building, the BOA and the Philippine Institute of CPAs (or PICPA, the national association of CPAs) adopted the provisions of Presidential Executive Order No. 22, “Adopting the Code of Good Governance for the Profession.” The BOA and PICPA believe that instilling good governance in the profession and among CPAs is essential to achieving its vision of contributing to national development. Both institutions then implemented a governance framework called the Performance Governance System (PGS), upon which the PGS Committee was created to work into the institutionalization of the PGS in the accountancy profession. The Roadmap for the Institutionalization of PGS in the accountancy profession was then drawn. The roadmap embodies its vision of “a dynamic force toward national prosperity and excellence with a global perspective” and mission of “the accountancy profession, being in the forefront of all activities related to economic growth and development of the country and attainment of national growth and objectives, commits to implement the Code of Good Governance for the Professions in the Philippines.” Recognizing the relevance of the PGS in pursuing the Profession’s vision and mission, PICPA has extended its full support to the PGS Committee.
It took over 10 years for the Accountancy Profession to institutionalize the PGS, starting from the issuance of Executive Order No.22 in 2003. On March 29, 2016, the Institute for Solidarity in Asia (ISA) finally awarded the PGS Institutionalized Award; Gold Trailblazer Award; and Islands of Good Governance Award to the accountancy profession. ISA is a non-stock, non-profit, non-government organization that advocates good corporate governance reforms and believes in making governance a shared responsibility.
The awards were indeed significant, as they made the accountancy profession the first among the 42 professions in the Philippines to be awarded such. The PGS Committee has institutionalized the profession’s plans, strategies, and targets. Now the challenge is how to sustain what the PGS Committee has started for the profession and how to ensure the adherence of all CPAs to the PGS. More importantly, the institutionalization of the PGS means a cultural transformation in the professional practice and sustainable good governance for all CPAs as a dynamic force in nation-building.
With all these happening within my profession, I am more confident than ever to say: I am a CPA. I am accountable to the public. I serve my country with integrity. I am a nation builder.
Jun Cuaresma is the COO and managing partner, as well as the division head of 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 850 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 jun.cuaresma@ph.gt.com or grantthornton.marketscomm@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph
As published in The Manila Times, dated 20 September 2017