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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.
THERE is a widow with two teenagers. Several months have passed since her husband died after years of battling an incurable disease, which drained the family’s financial resources.
Since the widow has no college diploma and meaningful work experience, getting herself employed was never really a viable option. Unemployed and with two children to support, she relied on God, and her wits and determination, to support her kids until they receive their college degrees.
What did she get in return? Praises from her family and friends. From one of her children, however, lukewarm gratefulness paired with the occasional “She’s this, she’s that! Why did she do this, or why did she do that?!”
Such display of ingratitude and brazen disregard for loving efforts are what sometimes make parenting a thankless vocation. Not always, of course, but throughout one’s time as a parent, there will be moments when one feels like there is a knife pierced through his or her heart.
This feeling is in no way confined to a parent-child relationship. This is also sometimes felt by those in leadership positions in any organization, though at a much lower intensity.
Whenever they receive feedback from employees, either though surveys or focus group discussions, leaders would normally hear complaints or comments. Some complaints are valid, and the leaders accept them, but there are also comments that would make one sigh and say: “Why does it feel like I have not been doing anything as a leader?”
I would like to believe that leaders generally look out for the well-being of their employees, and whenever there are comments that question their commitment to that, they feel as if a knife was pierced through their hearts as well.
A potential and understandable reaction of leaders would be to feel betrayed and disappointed, especially when they genuinely think they have done a lot to address a certain issue. This feeling of disappointment can reach a point of wanting to not do anything altogether or even sever the relationship. However, leaders should be very mindful of how one would react to these kinds of situations.
Leadership is sometimes thankless. It is a given. The question is: What should we do, then? Before doing something that might forever ruin their relationship with their workers, leaders might want to consider the following:
— Step back and listen very carefully to the feedback given. The feedback may make them sound ungrateful, but underneath the words expressed lies the essence of what employees look for. Not everyone is gifted with the ability to flawlessly express themselves. I am not saying that leaders should conjure assumptions to be applied on what was said, but to merely revisit the feedback and be more prudent in understanding what was said. Maybe there is a need to open an extended dialogue or understand the feedback through a different perspective. The main thing is to avoid jumping into a hasty conclusion before understanding what was really said.
— Assess past actions. There are comments in which leaders are confronted with this question: “I already devoted so much time to address a particular employee issue, but why is the employee still looking for an action from me?” It might be wise to assess if past actions in response to previous issues raised are valued similarly by the recipient of those actions. What may seem valuable to the leader might not be enough for the employee, at least in the latter’s view. This should be considered.
— Be transparent with your response. After ensuring that the feedback has been truly understood and past actions have been assessed, leaders should be transparent with their responses. Transparency in leadership reflects humility and respect toward employees. It also requires a certain level of vulnerability on the part of the leader. Whether the response is to admit fault, stand ground or commit to continue the conversation on the issue, transparency goes a long way in showing the other party that their comments are valued by giving the feedback its due.
— Accept that there are times when your leadership style may not be for everyone. Amid all these, leaders should not overburden themselves by trying to be liked by everyone. At the end of the day, leaders can only do so much to address employee feedback. There are other responsibilities that also require serious attention. This feeling of thanklessness must not paralyze leaders, which may hinder them in guiding their organizations forward. We should evaluate ourselves based on our best efforts — not on the results, but on whether we have truly given our best.
The widow in my story did not let the ingratitude of her child stop her from thinking of the child’s well-being. She did not use the thanklessness as an excuse to ditch her responsibilities as a parent. She persevered in understanding her child, took stock of her actions and never wavered in her love. For that, her son is forever grateful. May all of us learn to overcome thanklessness for, at some point, all of us have been ungrateful as well.
Anton Ng is a partner in the Audit and Assurance division of P&A Grant Thornton, 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 www.grantthornton.com.ph
As published in The Manila Times, dated 21 November 2019