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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.
In response to the coronavirus disease 2019 (Covid-19) pandemic, new ways of interacting are rapidly affecting our way of life. As we continue to stay and work at home, however, data privacy concerns may have been pushed into the sidelines.
On our personal social media and messaging apps, we may have inadvertently shared unverified or speculative news about someone in our community who has been tested positive for Covid-19. For the past six weeks, our employers would also ask about our health status and travel history. While working remotely, we may have unintentionally exposed the sensitive data of our colleagues and clients to other family members. Just imagine the bulk of sensitive information that you have to access and receive over WiFi networks and store them in your computer. Meanwhile, many individuals are pushing for increased surveillance from organizations, local authorities and the government.
As Covid-19 monitoring escalates, personal privacy plummets. It does not have to be this way. Even in a global crisis such as this pandemic, privacy matters. It is not a hindrance to the Covid-19 response. Let us keep in mind that protecting our personal privacy and the privacy rights of others remains of greatest importance.
Much has been written about how organizations can protect their data about their stakeholders, but how can we, in our own personal capacity, protect the personal data of our clients, colleagues and communities in the coronavirus era?
Be aware of heightened vulnerabilities. Governmental, institutional and organizational measures taken in the Covid-19 crisis, while generally considered necessary, create privacy challenges. Surveillance involves verifying social distancing, quarantine and self-isolation measures. Contact tracing involves identifying the contacts of patients who have tested positive. Health data disclosures, on the other hand, include making the personal data of Covid-19 patients and their contacts accessible in crowdsourced, nongovernmental databases. Early on in the community quarantine, organizations had restrictions and requirements, such as imposing travel restrictions, limiting visitors and requiring medical exams, potentially sharing information in the process. Remote work also involves monitoring employee activities and data use.
Use your business computer for business purposes. Refrain from using your business computer for private reasons, such as streaming videos, playing games, surfing the web, checking social media feeds, shopping and banking online, and contacting friends and family. Prevent other family members from using your office computer for personal use.
Work from the cloud as much as possible. Continue to use your work email account, as well as any trusted software tools, applications and systems provided by your employer. Comply with your company’s rules and procedures for cloud or network access, login and data sharing. Cloud computing is a beneficial way of ensuring that the data of your clients and colleagues is kept secure when working remotely. If you are unable to work with cloud or network access, however, ensure that any data stored in your computer is backed up regularly and securely.
Practice good housekeeping. Maximize the access control features of your computer, such as setting up separate accounts, using strong passwords and even enabling biometrics scanning. Do not leave your computer unattended and always lock your screen when not working. If you use a laptop and/or work with paper records, keep them locked in a cabinet or drawer at the end of the day rather than leave them out on your work area. Take extra care that devices, such as USB drives, phones or tablets, are not lost or misplaced. If you need to dispose of printed documents, shred them first. Ensure that business documents are not disclosed to family members. If you have taken home any records or files, keep a written record in order to maintain good data access and governance practices.
Work with your organization’s information technology (IT) and with government authorities. Read your employer’s IT and data privacy advisories. Attend information security and privacy awareness training, if necessary. If you suspect any data privacy incident or breach in your work, inform your immediate supervisor and data privacy officer as soon as possible, keeping in mind your company’s established procedures or protocols.
Remind friends, family and colleagues about protecting data privacy. Sharing personal information of a Covid-19 case through other means than with health care institutions — such as social media, short messaging services, messaging apps and community groups — is a violation of other peoples’ data privacy. If such information has been shared with you, immediately delete it from your device(s). Notify the sender that they could be violating Philippine data privacy laws and that you do not wish to receive such information. If community members keep sharing the private information of others, consider leaving the virtual community.
In a time where information is at our fingertips, we often forget the human ethical aspects. However, eroding our own data privacy and the privacy rights of others would be misguided and harmful, both during and after the crisis.
Let us be socially responsible to mitigate the consequences of Covid-19 and to show solidarity and respect for each other. In the words of the late Hollywood actor Marlon Brando: “Privacy is not something I’m merely entitled to. It’s an absolute prerequisite.”
Third Librea is a partner and head of the advisory services 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: @GrantThorntonPH, like us on Facebook: P&A Grant Thornton, and email your comments to third.librea@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit www.grantthornton.com.ph.
As pulished in The Manila Times, dated 29 April 2020