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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.
"The greatest threat to our planet is the belief that someone else will save it." This quote by Robert Swan, an environmental activist, resonates with the need for everyone’s involvement in addressing the crisis we currently face. While there have been many advancements in sustainable development in recent years, the reality is that the pace of change isn’t enough to meet the challenges posed by climate change today.
The United Nations Intergovernmental Panel on Climate Change stated that limiting global warming to 1.5°C above pre-industrial levels is a global imperative to avoid catastrophic consequences. At the pace that the nations are going, it is projected that global warming will exceed the target limit by 2030, according to experts. This calls for far more than what is currently being achieved.
Currently, the Philippines is 92nd out of 166 countries in the Sustainable Development Goals Index and 90th out of 180 countries in the Global Sustainable Competitive Index. What is very alarming is Philippines’ being ranked as 1st in the World Risk Index, which highlights that it is the most disaster-prone country in the world today. These results beg the question: have we really done all we can in facing this global challenge?
As a nation, we must accelerate our efforts towards mitigation and adaptation. We already face the devastating impact of climate change today, with more frequent and intense natural disasters, rising sea levels, and turbulent weather conditions. It is way past the time for creating plans and blueprints; we need bold ambitions and tangible results.
Sustainability in Action
The recently held Annual Model Cities & Municipalities Forum & Awards of The Manila Times put the spotlight on the inspiring projects and initiatives of cities and municipalities across the Philippines. Local Government Units were recognized for their achievements in various categories, such as InfraInnovator, Emergency/Disaster Management Excellence, Eco-Friendly, Livelihood and Employment Centered, and Education Hub.
The awards demonstrated what can be achieved when there is clear direction and strong leadership. Recognizing these blueprints of good governance creates a ripple effect of positive impact throughout the country, inspiring other cities and municipalities. However, recognition is only the first step towards riding this wave of positive impact. It's crucial to support these initiatives and create an environment where these sustainability goals are a priority.
A Multi-faceted Effort
The recently concluded event also brought together industry leaders, government officials, and experts to discuss the challenges sustainable cities face from different perspectives.
I was one of the resource speakers of the forum, representing P&A Grant Thornton as its Chief Sustainability Officer. I focused on the path we must take towards climate resilience – transitioning to sustainable cities and communities. The other speakers highlighted the importance of flexible workplaces in promoting work-life balance and reducing carbon emissions, empowering and representing the informal sector, city planning and architecture that prioritizes walkability and green spaces, the use of data and science to inform decision-making and track progress, and sustainable tourism that promotes our natural resources and minimizes environmental impact.
These discussions highlighted the need for a multi-faceted approach to sustainability and the importance of continued collaboration among the government, businesses, and communities. A united front and a holistic solution are needed to achieve real progress; after all, these goals cannot be met in isolation.
Overcoming Challenges and Accelerating Progress
The journey towards a sustainable future is filled with challenges. Lacking cooperation and collaboration among stakeholders, very insufficient funding, and outdated regulations and standards are some of the key barriers that hinder progress. It is essential to address these challenges immediately for us to meet our objectives and goals.
Our efforts must not only be focused on mitigation, such as the waste management and recycling initiatives and sustainable transportation. Rather, with the effects of global warming and pollution today, adaptation, such as emergency management measures, infrastructure upgrades, and biodiversity conservation, is equally important. Besides this, we must also consider initiatives that both mitigate and adapt, such as conservation of water and energy, investing in education and upskilling, and embracing nature-based solutions.
Our leaders must publicly commit to these initiatives to set a clear vision and secure support from us, the stakeholders, to drive both short-term and long-term transformational change. Achieving transformational change requires buy-in from various stakeholders, including government departments, businesses, community groups, and the public. The path forward calls for all hands-on-deck, so ensuring that action plans are inclusive is crucial.
To support these initiatives and transition, cities and municipalities must set evidence-based targets, prioritize high-impact actions, and effectively attract climate finance. We must monitor, evaluate, and report to see where we stand in our fight for sustainability.
Lastly, cities as well as municipalities are encouraged to use ISO Standards as the baseline, such as ISO 37120, ISO 37122, and ISO 37123, as they provide a framework for sustainable development. These standards highlight key factors cities and municipalities must focus on. Targeted actions are essential in accelerating progress and catching up with the goals we set.
Our Pathway to a Climate-Resilient Future
Cities are at the forefront in our fight for sustainability. Our path to a climate-resilient future begins at the ground level, with tailored strategies and responses based on their unique context, demographics, and environmental challenges. After all, there is no one-size-fits-all path for sustainable transformation.
With cities accounting for 60-80% of global energy consumption, producing 75% of global greenhouse gas emissions, and 70% of the global population projected to live in cities by 2050, their transition to climate resilience must happen sooner than later. This requires breaking down silos and integrating efforts across different areas.
The journey towards a sustainable future requires immediate action. Let’s continue the momentum brought by our model cities and address these challenges head-on. It's time to take bold steps and build a brighter future for our generation and generations to come.
As published in The Manila Times, dated 02 October 2024