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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.
Managing business conversations at the speed of thought
Michael C. Gallego
27 Jul 2016
In a 2016 report by WeAreSocial says 47.1 million Filipinos are active internet users and millennials represent 41 percent of these “wired” segment. And, some say that the last election was fought “in the streets of cyber.”
Internet users are typically impatient and spirited in voicing out their opinion on almost anything; even telling stories which may be truthful but often spiteful and distorted. Stories became so personalized that family members and lifelong friends separated ways (How many did you ‘unfriend’ from Facebook?).The use of the internet is so open and so pervasive that somewhere in the World Wide Web, someone maybe talking about you and he may not be saying the most flattering things. Or worse, he may be plotting against you.
Recent social media unrest includes hacking accounts, defacing walls, posting disturbing images, exposing an employees’ rude behavior or blogging against the company. In a poll conducted among global chief communication officers a few years ago, 42 of the 127 officers reported that their companies have experienced social media-based reputation threats. A third of them said they were not prepared or had no formal plan to address these threats despite a rise in the use of social media and blogging as a communication tool.
Social media is revolutionizing business. The increased activity of “prosumers” or participants who produce and consume at the same time, and the sharing and collaboration that happen among them is promoting an interactive conversation. This interactive conversation (or the Socialnomics cycle) is one where business listens to people, business learns from people, business adapts to people, business communicates an offer, people consume that offer, and then people evolve. And the cycle starts over again, most often at the speed of thought.
In this social media revolution, what rules govern?
1. On being social. As in the real world, minding one’s manners is good advice when operating in the (virtual) world of social media. In interacting with prosumers, observe humility and honesty in your virtual conversations. Due to high information turnover and continuously changing content and form, it may be difficult to achieve perfect site content. The concept of being “unprofessional” in developing content is encouraged. Leave netizens to decide which of the content they will pick for their own use.
2. About the media used. Engaging in social media can make or break an organization’s reputation, business strategy, or the salability of its product or service. A systematic, well-thought-out process is suggested prior to engaging the social media. Organizations are encouraged to carefully choose which media—LinkedIn, Facebook, YouTube, Twitter, IG, or own site—they will engage in, decide which appropriate application to put in place or develop, and adopt an ‘access for all’ policy. Companies’ social media activities should also be aligned with business plans and integrated into their communication plans.
How can we manage conversation risk? Is your company an active voice in this global conversation? If so, you need to manage your conversation risk—a subset of the more pervasive reputation risk:
1. Identify business processes affected by social media risks. Social media risks pervade throughout a company’s strategies, governance, execution, and organizational and legal processes. These may include lack of strategy and policy on social media—a set of metrics that do not measure the right things—and having a non-pro-active organization structure. These may result in a loss of competitive advantage, disclosure of corporate assets and sensitive information to unauthorized parties, or inappropriate or unapproved use of the company’s intellectual property.
2. Develop a controls assurance framework. In addressing the risks posed by social media, organizations are encouraged to develop a controls assurance framework to ensure, among others, that risk management (including social media) processes are in place and routinely evaluated and that employees, contractors and customers are trained and are aware of their responsibilities regarding the social media, that the use of social media is actively monitored, and that its effect on technology are regularly evaluated.
The value of social media in revolutionizing businesses is increasingly recognized. However, this global conversation poses a risk to organizations; which is why it is important for companies to review their processes that are affected by social media risks and that they have to design a robust set of controls that reduces or mitigates those risks. Because, as mentioned earlier, somewhere in the World Wide Web, someone is talking about you and may not be saying the most flattering things.
Mhycke Gallego is a Partner, Advisory Services, and Head of Knowledge Management of P&A Grant Thornton
As published in The Manila Times, dated 26 July 2016