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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 day after
17 Apr 2019April 16 or ‘the day after’: a day most auditors and accountants will consider as the start of their temporary emancipation because the tax deadline has passed. Temporary, however, because unless we shift careers, we will face the tax deadline again next year.
Deadlines, depending on how high the stakes are, normally bring about high-stress situations and long working hours that eventually lead to physical, mental and emotional exhaustion. Deadlines apply to anyone and everyone. Whether our deadlines are imposed by external factors or self-imposed, we face deadlines no matter how young or old we are, and no matter in what industry we work. It does not even matter if we are working for profit or not. Each of us have deadlines to face.
On the day after, on the day the adrenaline caused by the deadline has subsided, on the day we somehow manage to have the mental space to think about other things, we start contemplating on many other matters such as rest, careers and family and personal time. Matters that you may have neglected over the past few months, but feel are important enough that they should not have been neglected to begin with.
When you start thinking about these things when you are still reeling from physical and mental tiredness, consider this word of advice: pause and consider the implications of your next steps, even if you are just thinking about resting.
Rest is important for our well-being. Even God rested after He finished creating the universe. But just as work has parameters such as deadlines, there should also be parameters for rest. We should be able to define what constitutes rest, when can we start resting and until when do we rest.
The problem is that one does not define these parameters for rest. We think we have already rested, but our mind and body do not agree. I remember when I would “rest” by playing video games as much as I wanted. I was not spending time working and I was just at home, but did I get the rest that my self was clamoring for? More often than not, no. That is why, when I reported back to work, I did not feel that my “rest” was enough.
Define what part of you requires rest. If it is your body, stay at home or go to a quiet place, sleep and relax. If it is your mind, engage in activities that will not require you to exert effort to think, like painting or running. Even at rest, we should still be mindful of how we would do it.
Likewise, if we do not define the timetable for our rest, our tendency is to “rest” and be lax at work, even if we still have to complete certain deliverables, or extend our rest, even if we are already back at work.
This would result in us unable to be at our best. Setting a deadline for our rest also sets our expectations: that I can only rest up to a certain date, after which, I expect myself to get back to work and perform at par with how I worked prior to resting. By not setting a deadline for our rest, it becomes more difficult to get back to our previous work level because we are still in rest mode. This rest mode can linger, having an impact on our work performance.
The other important reason for setting a deadline for our rest is this: our mind sometimes plays tricks on us. We sometimes feel that, since we have worked so much over the past two months, we have the “moral license” to rest for the next two months as well. That should not be the case.
Take time to rest, but be mindful of how you rest.
The day after today is the start of a long weekend for most working individuals. May we take advantage of the few days to truly rest our mind and body before we get back to work next week, fully rested and fully committed to work once again.
May we also use this time to reflect on a deeper sense of rest: rest that is beyond mind and body; rest that will not be affected by the daily happenings of our lives; the kind of rest that, no matter what happens, everything will be for our good, regardless of the situation.
May this Holy Week allow us to reflect on what Jesus Christ have done for us on the cross at Calvary; that He died on the cross for our sins, so that we may find our eternal rest in Him forever.
Anton Ng is a Partner of the Audit & Assurance P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 21 Partners and over 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 publsihed in The Manila Times, dated 17 April 2019