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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.
We are just three weeks away from the US Open, the fourth and last Grand Slam tennis tournament for 2017.
And as the anticipation builds up, one question looms among sports fans: Will Roger Federer be able to capture his 20th Grand Slam title? This question is unthinkable a year ago since he decided to skip, for the first time in his career, the 2016 US Open Tournament. In fact, the relevant question at that time was: Will he still be able to return to the professional tennis circuit considering that he had not won any Grand Slam title since 2013 and had even exited early in the various tournaments he joined?
This year, however, as to whether he would capture his 20th, my answer is a resounding “yes!” A Federer win in this year’s US Open will not even come as a surprise. He already shocked the tennis world when he came back strong this year by winning the Australian Open and Wimbledon. His 2017 win-loss record is a mind-blowing 31-2, which means he has won 94 percent of his matches so far, compared with his lifetime career average of only 82 percent. This is such a great accomplishment for Federer because the only title he won in 2016 was GQ’s Most Stylish Man (a very impressive feat, nevertheless, considering he won over Kanye West and Ryan Gosling).
As a long time Federer fan, I have to agree with tennis pundits when they say that the 2017 Federer edition has been playing better than ever. During his six-month hiatus in 2016, he seemed to have retooled himself, gained a new perspective on his game and changed his playbook to get back to winning all the important matches and extending his relevance in the tennis world.
After his historic win at Wimbledon a few weeks ago, I have been thinking of the things we can learn from Federer as working individuals trying to achieve our own career goals and maintaining our own relevance in the competitive workplace. Here are some of the things we can learn from Federer’s playbook:
Turn your weakness into strength. In our career, there are always areas for improvement or weaknesses that weigh us down as we pursue our goals. These areas could be our way of communicating effectively, developing new business, expanding our network or managing complex assignments. In Federer’s case, it was his one-handed backhand, which many pundits considered his weak spot, particularly when facing Rafael Nadal’s intense and punishing game. Nadal became his long-time nemesis, as he denied Federer the titles in four French Opens. It took several years for Federer to finally listen to his coach and do something about his backhand that would eventually unlock the Nadal puzzle. In 2017, Federer transformed his backhand drive to enable him to beat Nadal in all their three matches, improving his head-to-head record against the Spaniard to 14-23. My key takeaway from this is to have the humility to acknowledge those weaknesses that prevent us from achieving our goals. We have to make a decision to do something about it and convert it into our strength. Furthermore, we have to accept assistance and encouragement from our respective career coaches to overcome those weaknesses.
Wisely choose your battles. Day in, day out, we encounter several work-related issues. These may include an unreliable IT network, late submission of reports, inadequate employee benefits or outdated policies. Due to the finite amount of time and energy, we cannot fight all these battles; otherwise, these will be draining and counterproductive. A Harvard Business Review article, entitled “How to Pick your Battles at Work,” suggests that one of the principles to follow in choosing your battle is to understand your authority. Before tackling a specific battle, we need to assess whether we have the reputation and the authority to succeed. It appears that Federer applied the same principle when he decided to miss all the clay tournaments this year. At his age, he knows how physically grueling a clay court will be on his 36-year-old body. Federer knows that he has a slim chance of winning on this surface, a turf wherein Nadal has dominated him all throughout their careers. By deliberately skipping the clay court tournaments, Federer entered the grass court tournaments fresh and well rested, as evidenced by his winning the Halle Open and Wimbledon without dropping a single set.
Continuously seek ‘perfection.’ Perfection seems to be Federer’s middle name as one of the tennis greats who is not only enjoying an extended athletic peak in tennis but who continues to win Grand Slam titles at an otherwise waning stage. He has definitely rewritten the tennis history books many times over. His hunger to achieve more despite all his accomplishments seems to be unrelenting. He continues to improve his game to adjust to the changing times, including new racquets and coaches. Similar to Federer, I believe that regardless of where we are in our careers, we should continue to learn and endeavor to hone our knowledge and expertise in order to stay relevant and productive in our workplaces.
Fundamentally though, it is Federer’s passion and love for tennis that are sustaining his long and illustrious career. Indeed, our career would only be more meaningful and rewarding if we truly have the passion and love for what we do.
Mabel Comedia is a partner at Audit & Assurance and Head of the Technical Standards and Quality Control 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. For your comments, please email mabel.comedia@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For more information about P&A Grant Thornton, visit our website www.grantthornton.com.ph.
As published in The Manila Times dated 09 August 2017.