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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.
Over the past week, I have been calling coworkers for a brief chat. It has almost been five weeks since I last saw anyone from our office. With the current situation that we all face, I wanted to check on our people to see how they are holding up.
The first quarter of every year is very tough for accountants and auditors because of regulatory deadlines. Add to this the general feeling of anxiety brought about by the coronavirus disease 2019 (Covid-19) pandemic, and stress levels would exponentially rise.
My calls over the last week are the first time I would speak with most of the people on my call list. I have spoken to some of them in the past, but mostly out of the necessity of work. I am generally not big on engaging in small talk with people, partly because I am an introvert and partly because I am feeling lazy. Interestingly, it has been on my personal development plan for several years already to build relationships with people, particularly those within my professional network. I had never been able to start it, until now and because of this pandemic.
Before cable TV, internet and cheap flights, people typically stayed home and did nothing during Holy Week. It was traditionally a time for prayer and self-introspection. My childhood memories of Holy Week are of empty streets and closed establishments. We have all been essentially living in this kind of environment for almost a month now. Many of us stay and work at home, while some go out to fight and contain the spread of the virus or to ensure that our daily needs are available. While most of us now have more time on our hands, we are in a very different set of circumstances. Circumstances that ultimately push us to reflect on the fragility of life.
This current, but hopefully temporary, situation that we are in has brought deep-seated emotions and tensions to the surface. There is an air of anxiety about our health and the wellbeing of our loved ones. There is fear that our family might not have enough resources to tide over until the lockdown is lifted. We are frustrated with the government or even with people who express their frustrations with the government.
For those working from home, we sometimes feel guilty that our output may not meet the expectations of our colleagues and clients; or we feel that, if not for the work we need to do, we would have spent our time on more “valuable” efforts to help fight the virus. We are discouraged that we cannot do more to help or that we are not receiving enough help. There are those who struggle to find means to earn money and not simply rely on dole outs. These are all valid feelings during these times.
The other evening, my wife shared with me one of her reflections over the past few weeks. She simply said: “We should not waste this virus.”
May this Holy Week provide us with time to introspect on our experience over the last four weeks of living in the new normal. It is time to take stock. Let us not waste this virus. This virus has already been very costly. Lives, money, the economy, friendships and trust may have already been casualties over the past few weeks. Let us not make it all go to waste by not allowing ourselves to assess how this situation change us, our perspective and our way of doing things. What kind of persons will we be when we reach the other side of this pandemic?
There will be people who will learn new skills and develop new habits. While such activities have value, it should not be the measure of whether we seized or wasted an opportunity. I am a strong believer that our purpose here on earth is to glorify God, establish good relationships with others and work in order to contribute to the progress of humanity. With that in mind, there are other areas in our lives, apart from developing new skills, that we can reflect on to see if we have gained something new for ourselves.
Here are some questions that we can reflect on: How is our relationship with God considering the current circumstances? Do we have any realizations about our lifestyle before the pandemic? Are there things in our life that no longer seem to be important? How are we in our relationships with others? Do we see the need to be more mindful of the relationships we build or neglect to build? Do we now have a better understanding of the poor and the marginalized? Do we now have a better appreciation for all kinds of work, that all work has dignity and value? Are we finding deeper meaning and purpose in the work that we do?
Whatever it is that we find out about ourselves over the next few days, hold on to them. May we carry those lessons post-Covid-19. My worry is that, as soon as we return to even a semblance of normalcy, we will forget all these things. May it not be the case; otherwise, we would have wasted this virus.
Anton Ng is an Audit and Assurance Partner of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firms in the Philippines, with 23 partners and more than 900 staff members. We’d like to hear from you! Tweet us: @GrantThorntonPH, 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 08 April 2020