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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.
Oh! Here comes my burger super meal. This time it only took 20 minutes for the delivery rider to deliver. That’s two minutes faster than how it was last week. Perhaps, I should also just order my dinner later.
Food deliveries, online shopping, e-learning, online meetings – all these have become a norm these past three years. The COVID-19 pandemic had significantly accelerated the adoption of digital technologies and pushed businesses to shift from the old “brick and mortar” model into what the global retail expert, Tom Oliver, referred to as the “click and mortar” model – where an online aspect is added to customers’ shopping experience. Within their organizations, companies started to adopt a remote work set-up, thereby allowing employees to perform their work at the convenience of their home.
These sudden changes posed two unprecedented challenges – improving client experience and improving employee engagement.
Improving Client Experience
The abrupt advancement of the digital age highlighted the critical importance of creating a unique and memorable customer experience. Digitalization has enabled aspiring entrepreneurs to start their own businesses and to sell their products and services with minimal cost and effort. There is no longer a shortage of competition out there in this digital age. This consequently led to fierce competition in all industries and in order to survive, you should be able to set your business apart from your competition.
But how can you differentiate yourself from your competition? How can you effectively show the human touch in today’s digital era?
First, you should reinvent and personalize your customer experience journey. Create unique and memorable experiences for your customers. It is essential to provide customers with something more than what they can get through digital platforms. One way to do it is to keep them updated with the up and coming offers and promotions of the company. Proactively send invites to special events you know may interest them. Make their special moments count. Show them you care and celebrate with them. Some companies offer gifts or discounts for birthdays, anniversaries, and other special events. Others would even go the extra mile of sending personal messages or gifts to their clients. This may not amount that much, but it will definitely make a mark on your customers’ minds.
Second, refine your customer service experience and make it more engaging. Customers know they are chatting with bots when they make a product or service inquiry on your webpage, but they don’t want to constantly feel like it. Provide them with an avenue to reach out to your customer service team whenever they need. Not only will it address the customer’s concerns, but it would also permit your employees to show small acts of compassion to customers. Keep in mind that there’s no effective substitute for human kindness and judgment. A strong and open customer service center will also enable your company to obtain first hand feedback about your products and services and be updated with the changing customer needs and preferences. Having a thorough understanding of what your market wants will help your company accelerate growth and leap forward better than your competitors.
Finally, share their values. Make them feel that the important things to them are just as important to you as well. One particular trend nowadays is the sustainability or ESG (environment, social and governance) impacts of businesses. Various studies have shown that customers are now shifting their spending towards products and services with ESG-related claims, may it be animal welfare, use of eco-friendly materials, gender equality, etc. Having such an understanding, keep your customers informed (through your website, blogs or social media pages) about the relevant activities that your company is doing.
By continuously providing unique, engaging, and memorable experience, and by sharing their values, customers will associate your brand to a certain product or service, which eventually will make your brand to be the first to come to their minds when they require that product or service.
Improving Employee Engagement
As important as improving client experience, businesses should also be able to effectively engage their employees in today’s digital era. As the work-from-home set-up became a norm, we realized how efficient we can perform our tasks regardless of the environment we are in. Unfortunately, improved technologies include the risk of diminishing the human touch that companies desperately need to optimize performance, boost employee morale, attract talent, and retain employees.
Companies are now faced with unprecedented challenges that make it harder for regular tasks to be completed on time. It seems unavoidable for employees to be distracted by the things that happen at their home, or to be overwhelmed by the messages, notifications, ads and other diversions that they can now be freely accessed during working hours. Some employees became addicted to technology where they felt that they couldn’t help but check on everything that happened on social media. In result, they access their social media first thing in the morning and last thing at night. Undoubtedly, this drains their concentration and ability to think deeply. Consequently, this led to low employee performance, targets not being met, customer dissatisfaction, and financial losses.
What then should companies do differently?
One of the basic yet among the most important steps is to set expectations early and to do it often. This is a key element in successful time management and in ensuring that employees will have a work/life balance. Having a clear understanding of the actual deliverables, priorities, milestones, and targets, employees will be able to gauge the timing and pacing of the tasks assigned to them. This will also enable managers to clarify their expectations on employees’ responsiveness to emails and chats during and beyond the agreed working hours.
One other thing that employers can do differently is the increased focus on coaching and mentoring. The remote work set-up provided limitations in establishing and maintaining interpersonal relationships with mentees/coachees. Consequently, this led to voluminous errors at work, low employee performance and low employee morale. To address this issue, companies should invest more time and effort in strengthening their coaching and mentoring programs, ensuring that the coaches/mentors will have ample time to regularly meet with their coachees/mentees. Moreover, coaches and mentors should receive regular training on the proper conduct coaching/mentoring sessions.
Companies should also consistently promote good digital etiquette. Showing up on time with your camera on is something that each employee should practice in all virtual meetings. Not only will this build connections, but it will also encourage employees to prepare for meetings and will allow managers to clearly see the state that their employees are in. The mere opening of the camera also minimizes the risk of employees being distracted by their phones and the ads and notifications that come along with it.
Lastly, celebrate wins, no matter how small. Despite the remote set-up, managers should look for opportunities to celebrate the same work milestones that would otherwise be celebrated in the office. Send shout outs through your company-wide group chats, provide incentives or small tokens of appreciation, or share your success stories through social media. No matter what platform you choose, what is important is to recognize the efforts of the employees that led to the team’s success.
The advent of technologies has disrupted the way we deliver great client experience and outstanding employee engagement. All these technologies have been part of our everyday life, and they will stay for a long time. To stay relevant, we need to adapt to the new ways of working. As what Robin S. Sharma has written in his The 5AM Club book: “All change is hard at first, messy in the middle and gorgeous at the end.”
As published in The Manila Times, dated 27 September 2023