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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.
Leadership is not for the faint of heart
14 Aug 2019The movie trailer for Top Gun: Maverick has just been released. It is a surprising, yet very much welcome sequel to the 1986 classic Top Gun, starring Tom Cruise as Lt. Pete “Maverick” Mitchell. Although the sequel will not be released until 2020, I got so excited about the sequel that I rewatched the 1986 film over the long weekend.
As I rewatched Top Gun, certain decisions made within the film’s narrative bothered me. One of these decisions, and possibly my greatest concern with the movie’s plot is when the Navy leadership decided to include Maverick on the air support team to rescue a United States Navy ship that had ventured into hostile waters. Those who have seen the movie would recall that Maverick had yet to prove that he had recovered from his traumatic experience during training: his plane crashed in a flight simulation. Although Maverick is clearly one of the best pilots, it was a huge gamble to include him on the team. Maverick could be a danger to himself, to the team, and to the whole operation itself. But, as in most Hollywood movies from the 1980s, the protagonist of the film came out as a hero at the end.
Can you imagine, however, the burden on the shoulders of the Navy leadership? They have arguably one of the most talented pilots, who clearly had not yet recovered from a traumatic experience, and to whom they trust to excel under an intensely stressful mission. The mere notion of the mission failing would surely put most people under severe stress. Imagine the exponential increase in the stress and potential consequences if the mission failed, because of the wildcard that is Maverick.
That burden is not for the faint of heart. The decisions leaders make every day are not for the faint of heart. The decisions leaders make not only define the trajectory of their organizations, but also impact, in varying degrees, all stakeholders.
Leaders have to think about investors and stockholders and the return on their investments, about employees and their well-being, about customers and their needs, about suppliers and the mutuality in benefits, about the environment and sustainability, and much more. So many stakeholders have to be considered when reaching important decisions.
Going back to Top Gun, we as the audience are like the other stakeholders: we are not privy to all the discussions among the Navy leadership before they decided to include Maverick in the air support mission. The other pilot that was part of the team, Lt. Tom “Iceman” Kazansky, expressed his concern about the inclusion of Maverick. Iceman’s concern, although valid, was brushed off by the commanding officer. Is this situation not similar to what happens in our organizations: employees voicing out their concerns through various feedback mechanisms? There are times when the leadership would listen and heed to their concerns; at other times, employees are simply asked to accept the fact that decisions have already been made, with minimal or no explanation at all.
Leaders oftentimes decide without a complete set of information. Leaders have to make the call, regardless of how incomplete the information. A non-decision is in itself a position that a leader can make. A non-decision carries its own set of consequences as well.
Leaders are in a very precarious situation. They have numerous thoughts, multiple scenarios buzzing through their heads, unknowns here and there. At the end of the day, however, they have plenty of decisions to make.
Failures are, thus, inevitable. Not all decisions would have a payoff in the end. If failures are inevitable, leaders should be always prepared to receive criticisms, fairly or unfairly, and to accept the consequences of their decisions and actions. I can only assume of what could possibly happen to the leadership of the US Navy if Maverick cost them the success of the mission. Heads would probably roll.
Leaders that are in a position to affect many people’s lives are not that many. Imagine the burden entrusted upon them, but with very few options in terms of who they can discuss those decisions with. Who would act as their sounding boards? Who would give them sound advice?
Leadership definitely has its merits and drawbacks. It can swing from one extreme to the other with a single decision. Leadership is not for the faint of heart.
Anton Ng is a Partner of the Audit & Assurance P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 23 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@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 14 August 2019