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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.
Since we were students, we have never stopped attending meetings. In every organization or group we belong to, meetings are a normal occurrence. Especially now that we are part of the workforce, we have either called or been called into one. Every time I look at my calendar in the morning, the happiest times are those when there are no scheduled meetings for the day. On those rare occasions, I have the entire day to face my email—another one of those things that we have too much of in our lives—and tasks.
Knowing that we have so many meetings to attend, it would be understandable if one asked if all those meetings are important and relevant to our responsibilities at work. How many of us have felt less than satisfied after attending a meeting: that we could have been more productive if we were not in the meeting? How many of us have felt, minutes into an hour-long meeting, we neither have nothing to gain or contribute? Many of us share the same sentiment but, at the same time, a lot of us are also responsible for calling those meetings.
People often call meetings to achieve a set of objectives (e.g., cascade information, resolve issues, obtain updates, gather information, etc.). Sometimes, however, our default action to meet our objectives is to call a meeting. Worse, these can be very big meetings where half of the attendees are no longer sure why they are even there. This happens, because the person who called for the meeting is only considering how they can meet their objectives in the most convenient way possible without any regard for the invitees.
The first thing that needs to be very clear to the person calling the meeting is the objective. What are the objectives of the meeting? If the identified objectives can be achieved without setting a meeting—such as through email—then a meeting should no longer be called. A best practice I have read is that, instead of identifying the agenda for the meeting through a list of topics to be discussed, frame the agenda with a list of questions that participants have to answer. If the questions cannot not be answered in the meeting or there are actually no questions to be answered, then one has to reconsider holding the meeting.
By framing the agenda through questions to be answered, it would also be easier to identify the appropriate persons to invite. Only those that can help answer the questions should be in the meeting. This would help limit the number of persons in the meeting. The fewer people in the meeting, the higher the chance that discussions will be faster and that less total time resource from all who participated would be spent on the meeting.
In addition, consider classifying the meeting invitees into tiers. The first tier are those essential to addressing the meeting questions. The second tier are those who need to answer some questions.
The third tier are those not really needed to answer the questions, but may provide inputs that will help answer the questions.
By grouping the participants, we can then structure the meeting in such a way that we minimize idle time. Those in tier one will be invited for the entire duration of the meeting. Tier two participants will only be invited for a portion of the meeting, when they are needed. Tier three participants may not be invited at all. Instead, we can ask them to send their inputs through email before the meeting. This way, we are able to maximize everyone’s time.
Another advantage of framing the agenda through a list of questions is that, as soon as we have already answered the questions within the meeting regardless of the time allocated in the calendar invitation, the meeting can already end. By doing this, we can also better set the number of minutes needed for the meeting, hence, we will not hold anyone’s calendar hostage for longer than necessary. Lastly, not all meetings should be scheduled for an hour.
Meetings have a lot of value. With the right people ready to answer a clear set of questions, meetings can be both effective and efficient. Sadly, meetings take time away from people. If we can think in terms of ensuring that we are mindful of other people’s time and not simply think of what we need to get from them in the most convenient way, people would be more satisfied at the end of each meeting.
Anton Ng is a Partner in the Audit and Assurance division 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: @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 02 October 2019