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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: The internet will eat your mid-sized business
28 Dec 2016Digital technology has unleashed a perpetual hurricane of creative economic destruction. Software is not only eating the world, but also many mid-sized businesses. Only the paranoid will survive, and here is why:
Timescales have changed.
The long term used to be a nebulous dot on the horizon. But today, time has been so sped up by technology that whatever once appeared long-term is happening now. Take for example, the robot economy, once the preserve of science-fiction writers. Today, however, what is now known as artificial intelligence or machine learning is about to change every industry—from education to healthcare to transportation.
The future is here and it's not evenly distributed.
That is a quote from the cyberpunk writer William Gibson, and he is right. From Google's self-driving cars to Amazon's drones, to the Apple Watch, we are now all living in the perpetual future. And with Moore's Law showing no sign of being proven wrong, more and more seemingly impossible technologies are about to not only become plausible, but inevitable. These technologies will radically transform entire industries, making some existing ones redundant while creating new verticals, new scarcities and new business opportunities.
Every company is a technology company.
There is no escaping the consequences of technology's rapid evolution for any business. "Ah, but my company isn't a technology company," some CEOs of mid-sized companies might say. "We don't need to worry about technology," they would reassure themselves. "It doesn't affect us."
Wrong.
As Reid Hoffman, the co-founder of LinkedIn and one of Silicon Valley's most prescient investors has said, every company is now—like it or not—a technology company. From the impact of 3D printing on the traditional manufacturing industry (not to mention it's run-on effects on distribution) to the impact of wearable technology on the fashion business and self-driving cars on the transportation industry, networked technology is radically disrupting every sector of the economy. Medicine, education, government, energy and banking are all about to be revolutionized.
The long tail was an illusion.
Many of the internet's most fervent evangelists promised that the digital revolution would democratize business life, creating more small and mid-sized companies that could all thrive in what has become known as the Long Tail economy. But the Long Tail is, in truth, a long tale. The digital revolution has created a winner-take-all economy of neo-monopolists like Google, Facebook, Apple and Amazon. Digital technology—particularly the distributed technology of the internet—is creating a new aristocracy of digital companies that are attracting the attention of antitrust legislators in Europe and the United States.
The biggest threat of all: Monopolies.
Mid-sized companies should beware. You are the roadkill of the new economy. "Average is over," the American economist Tyler Cowen thus predicted a networked economy characterized by a tiny handful of dominant companies. The impact of this winner-take-all economy on smaller businesses is deeply troubling and the CEOs of these smaller companies need to be very worried about the viability of their businesses. Every industry now is threatened by massively financed upstarts seeking to hollow out an economy traditionally dominated by mid-sized companies. Uber, for example, threatens to sweep away tens of thousands of midsized taxi companies. Airbnb may well represent the death knell of thousands of mid-sized hotel chains. That's why, of course, Uber is now valued at around $40 billion and Airbnb at around $20 billion.
It's time for mid-sized businesses to think big, to be audacious, and to use technology to move their businesses forward. The perpetual future is here—if these companies don't live and breathe this reality, then they will become businesses of the past.
"Emiliano 'Third' Librea is a partner, head of Advisory Services and chief information officer 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 800 staff members.
As published in Manila Times dated 28 December 2016