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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.
Quarantines, lockdowns and travel restrictions. These pushed businesses to resort to work-from-home arrangements in the wake of the coronavirus disease 2019 (Covid-19) pandemic. What gradually unfolded was an experimental dabble in the way we work. Suddenly, we found ourselves reliant on technology and virtual platforms like Zoom to ensure that work deliverables are completed.
When pandemic restrictions are eased, companies have three options to choose from in terms of adopting the right work setup - office/on-site, remote, or hybrid arrangements. With remote work, companies are increasingly seeing its benefits including reducing their carbon footprint. Meanwhile, employees also see remote work as an effective tool for striking a work-life balance.
Remember the time when hybrid work was a relatively unknown buzzword? Experts predict that hybrid setups, which consist of both on-site and remote arrangements, will most likely be the norm. Hence, companies must shift their gaze to this mix of on-site and remote setups.
In fact, we are now seeing the rollout of the mixed work setup in a number of organizations. According to a McKinsey report, this hybrid work model will most probably be the new normal for the highly educated and well-paid segments of the workforce. Data show that more than 20 percent of the employee population can work remotely for three to five days in a week and still work as effectively. If this is implemented, there will be three to four times as many people working from home than before the pandemic.
Despite the positive outlook for hybrid work setup, transitioning to this type of work environment is easier said than done. Some challenges include a decreased close working relationship among peers and issues on team collaboration.
This rings true in the case of companies in the Philippines. A survey by leading technology research firm International Data Corp. showed that before the pandemic, the labor market in the country cultivated a strong sense of office-based culture. Another key obstacle unique to the Philippines is reliable internet connectivity needed to implement seamless work-from-home setups.
On top of these challenges, leadership in hybrid work setup also poses a hurdle. If company leaders do not prepare for managing their teams through remote setups, chances are they will find the transition to this type of work arrangement downright scary.
That said, making the transition does not have to be overwhelming. Here are some tips on how to make "leading from home" work.
Forget the 'old normal'
The first step? Stop wishing that the "old normal" will come back. The disruptions brought by the pandemic are massive. It is highly improbable that business management style will go back to normal long after the pandemic clears. Bear in mind that transitioning to new work setups means letting go of old procedures that may have worked pre-pandemic but will most likely be no longer feasible in the new normal.
Don't get stuck
Learn to rely on innovative processes more than traditional processes. Post-pandemic, leaders will need to go beyond the usual work process. As heads of our organizations, the onus is on us to explore the advantages of digital transformation. The focus should be on understanding how technologies like automation and cloud technology can help us adapt better to changing work environments. The trick is to leave clerical tasks to technology and utilize manpower for more innovative workload.
Redefine agility
In corporate settings, agility means being able to reshape existing road maps and technology to open new avenues for growth. A 2017 McKinsey survey shows that agile teams performed better because they were quick on their toes to restrategize depending on the circumstances they were faced with. These teams were deemed to perform well because although senior management still makes the bigger decisions, agile teams are allowed to make decisions for their daily activities. By implementing an agile strategy, companies can be more flexible and value-oriented in the way they operate. Being agile also means finding creative ways to deliver solutions by taking into account the specific needs of clients, which can change over time.
Practice situational leadership
The phrase "one size fits all" clearly does not apply to management style. Every company is uniquely structured. What may have worked for one may not necessarily work for the other. This is where the value of adopting situational management comes in. It refers to altering leadership styles to address work-related circumstances. It establishes rapport among employees and helps management address the needs of their employees better.
Encourage employees to get the Covid-19 vaccine
For companies aiming to have a considerable number of their employees back at the workplace, they must encourage people to get vaccinated against Covid-19. However, some employees are not too keen on receiving their vaccines and this can cause a real leadership challenge. Rolling out company incentives is a good idea. It is also a great plan to educate employees on the effect of getting vaccinated to protect not only themselves but also their families and friends.
While leading from home can be a massive challenge to hurdle, it is still surmountable. In the end, nothing beats infusing flexibility in leadership styles, recognizing the value of teamwork and prioritizing open communication in addressing challenges in the post-pandemic corporate setting. The future of work will indeed look different, but by moving out of our comfort zones in leading through example, transitioning to a hybrid work setup will be a lot less scary.
As published in The Manila Times, dated 07 July 2021