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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.
Insights: Innovative thinking leads to innovative talent
Michael C. Gallego
01 Feb 2017
New technology, and the new applications we devise for it, is transforming the business landscape more quickly than we ever thought, impacting not only the newly created roles within our organizations, but our entire workforce.
Given this scenario, how does a company now create a stream of high-quality talent with the relevant skills? Grant Thornton suggests some key areas that need to be considered to sustain business growth:
1. New channels, new products, new skills
Technology and automation are fast developing, quickly making the previous obsolete, we don’t know what particular skills we will need five years from now. While omni-channel retailing, social media and the use of apps are still in the early stages of uptake, new skills are also needed to engage them.
Manufacturing requirements get transformed as new products and the skills required to produce them also change: think, for example, of how smart watches like that of Apple altered a product that has remained little changed over hundreds of years.
2. What departments will be affected?
The impact of digitization is not confined to the IT department. To provide a true customer-centric experience, traditional IT roles may now be better aligned with customer analytics, marketing and customer retention teams. This merging was what delivered us smart phones, suggesting shops and restaurants nearby whenever you’re inside a mall, or when Amazon predicts your purchase pattern and then suggests similar products or services.
Responsibilities, such as search engine optimization, which were outsourced in the past because they were still in the infant stage requiring external expertise may now be deemed more economical if conveyed in-house. Similarly, other responsibilities that are no longer strategic to the company may now be outsourced.
The rise of social media has led to consumers interacting with companies in new ways. The role of chief marketing officer has changed dramatically, with knowledge, ideas and strategies all directed through digital channel now, in order to interact with customers more effectively.
The marketing department will also require more technical roles – think big data. Marketers will need to balance the traditional creative and human elements with data-driven technology. They will need to integrate campaigns with information technology, given that this will transform their understanding and use of data. Perhaps, the marketer of the future will be a ‘creative technologist.’
HR roles are evolving, too. New research roles in talent teams are now responsible for sourcing (online and through more traditional channels) relevant candidates. Likewise, learning and development teams will need to master new approaches in delivering effective online training to a globalized workforce.
3. How resilient is your company culture?
Culture is pivotal in sustaining performance – it’s about how people work and how they encourage each other while doing it. Truly exceptional organizations are differentiated by constructive cultures in terms of employee engagement, client satisfaction and performance. In times of rapid change, it’s more important than ever to foster this constructive culture by engaging your people, assisting them to cope with the uncertainty of a changing internal and external environment and aligning them with the strategy of the business. Consider the following factors:
Is your culture one that can change quickly?
Is your culture aligned to the talent you are aiming to attract?
How could your culture adapt and evolve to draw the right talent?
Are your employees brand-effective and are they aligned to the brand promise?
How are you and your company perceived by your competitors?
4. Flexible workforce
Despite the presence of on-site gyms and day care centers, when employees are asked which benefits would be most valuable to them, the majority still choose benefits that enable work-life integration, or work combined with quality life.
While not a direct result of digitization, flexible working conditions are required if you want to compete and attract the best people, especially young people who want to work whenever it suits them, employees with families, and those on the retirement path. Technology makes flexible working very much easier – wherever there is WiFi access or smart phone access 24/7; from home or wherever. Our work-off-base (WOB) arrangement in the office allowed our people the flexibility to manage their time and service deliveries. Or hold a video conference call while stuck in traffic inside their Uber hire.
5. Upskilling and leadership planning
In a workforce that’s changing so rapidly, how do you keep your best people keen on the most relevant skill level? Traditional HR and recruitment roles may require upskilling in order to communicate with candidates via social media, new apps and mobiles.
They’re also required to predict what skills will be required in the future. Those in technical roles are likely to advance quickly, so how will you provide them with the management skills required to be future leaders? How will your teams manage effectively to deliver to the ever-changing requirements thrown up by digital disruption?
Technology will continue to advance and inevitably change the business landscape. Organizations should take the opportunity to innovate through development of a technology-responsive, innovative culture to attract and retain the best talents. A focus on both culture and people will lead to a robust business and superior financial performance.
Mhycke Gallego is a partner of Advisory Services, and head of Knowledge Management 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. For comments, please email mhycke. gallego@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. Visit our Website: www.grantthorn.com.ph; follow us on Twitter: pagrantthornton, and FB: P&A Grant Thornton.
As published in The Manila Times, dated 1 February 2017