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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 Filipino culture has never failed to mesmerize. There is no one word to describe it, as it is rightfully referred to as a cultural potpourri of sorts. It brings to the table something new and something old in terms of tradition, married by the Philippines’ rich history covering periods of colonization and subsequent independence sought by the country’s brave heroes and martyrs.
Filipino culture is often seen in works of art and literature, as well as in our creativity with our Pinoy slang words like “lodi” as another way to call our idols and those we look up to as role models. In addition, hints of the Filipino persona and “self” are still evident in the way we live and in our actions. We see this still in our modern way of living. Think bayanihan, pamamanhikan, and even in our pagmamano as a form of respect to our elders. We have strong family ties and an equally strong religious faith. All these radiate and form the Filipinos’ loob, their virtues, and attitudes toward their kapwa.
Pinoy leadership style defined
When it comes to management style, the Filipino culture is still evident in the way Pinoys lead. In an article by University of the Philippines Professor Zenaida Macaspac, the leadership style of Filipinos was described as one of a hybrid or dualistic nature. It emphasizes on one hand, influences from the West and the Filipinos’ rich culture and tradition on the other.
Renowned anthropologist Felipe Jocano adds to this description of the Filipino management style, citing how it is differentiated through its focal features including familism, personalism, and emotionalism. He paints a picture of Pinoy leaders as those who value kinship and relationship not just in the home but in the corporate setting as well. This is seen in the way leaders seek ways to train and “[look] after their protegees”, and in how they recommend to their company people with whom they share close relationships with.
Filipinos are also much more likely to be relationists. This stems from their need to go beyond their individualistic selves and be more integrated with groups. In the corporate world, this is seen in leaders’ knack for being well-informed about the professional and personal lives of their colleagues. Questions like “Where is your hometown?” or “How many children do you have?” are commonplace as one of the ways Filipinos exemplify their interest to connect with new people and groups.
One apparent characteristic of a Filipino is that he is emotional and often sensitive. While this can be an unattractive trait of a leader to some, the ability to relate to the problems and struggles of colleagues is one characteristic that can yield good results. A Harvard Business Review article echoes this statement, emphasizing that a good leader who is sensitive to the needs of his team is more likely to build trust and rapport and strengthen his relationship with his peers.
All these said, how can leaders improve their management styles by tapping into their innate characteristics as Filipinos?
Strengthen decision-making and build a culture of trust
In his book Pinoy Management, Ernesto Franco provided four Pinoy management styles. Management-by-kayod is employed by one (the realist) who endeavors quick resolutions and is driven by priorities, while the management-by-libro style is seen in a leader (the idealist) who thinks by the books and is more methodical and systematic in his dealings.
Meanwhile, those who adhere to the management-by-lusot style is the one boss his subordinates describe as an opportunist who rarely goes out of his way to do the right things the right way. He pales in comparison with leaders who utilize the ugnayan leadership style (the reconcilers). Franco, as cited by Macaspac in her article, defines this leader as one who “is a cross of the idealist and realist manager… [who] believes in contingency management”.
While there is no answer as to which type of leader must be emulated, we must remember that whatever leadership style we choose to embody, strengthening decision-making and being a trusted mentor should always be at the top of our priority list. As McKinsey details in one article, leaders must help foster an encouraging culture, and consider trust as a fundamental element in corporate management.
Communicate and check in on peers
One of the most important but oftentimes overlooked factors of effective management is open communication. Another McKinsey report cited that if a company strives and succeeds to improve communication and collaboration among teams by utilizing technology, they can increase interaction in the workplace by 20% to 25%.
By allowing colleagues to feel that their opinions matter and are important in spelling the success of the company, they can better understand their roles which, in turn, can lead to increased productivity.
Reflect and train
No one is ever too good in his craft. That is why it is equally important that leaders, regardless of management style, must always strive to be better either through improvement based on feedback or by engaging in more training programs which can help them touch base on the aspects they need to improve on. CFOs, for example, can greatly benefit from senior leadership programs tackling sustainability strategies which they can implement in their organizations.
Although there are uniquely Filipino management styles, in the end, the fundamental elements that should be integrated in all leadership styles remain relatively constant – prioritize open communication and collaboration, build trust, and engage in training. Leaders must also be well aware that they are strategists and catalysts with significant influence on their companies and team members. To those striving to improve their leadership styles to be more effective drivers of change to their organization, we say, “More werpa to you, lodi.”
As published in The Manila Times, dated 25 May 2022