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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 new normal
25 Sep 2019I had a major breakthrough yesterday: I was again able to reach the office within an hour, in 45 minutes to be exact. Over the past month, I have been spending two to three hours on the road every morning. That is essentially cruising the streets of Metro Manila at a speed of six to nine kilometers an hour! At least, it is still faster than the average walking speed of 5 kph. What did I do differently to achieve my “under an hour” travel time? Nothing special, really. I just left our house 30 minutes earlier than the usual 5:30 a.m. cutoff.
When traffic congestion began to worsen about three to four years ago (which now pales in comparison to what we are currently experiencing), I personally vowed to avoid even hinting on complaining about my daily grind on the road. I even wrote in some of my articles about the different activities I did while in the car to at least redeem the “wasted” time. I still wouldn’t complain here now. Time is too precious for that.
I have heard of people crying in their cars, because of their sheer frustration and tiredness. I have some friends who have already left or are seriously considering to leave their current employers, because of the long commute. Some are considering renting a halfway house. Others are contemplating on uprooting their families to move closer to their offices. I only drink half a glass of water in the morning so that I wouldn’t need to pee while stuck in traffic. We cope. We adjust. The question, however, is whether any of this is sustainable. People who are both content with where they live and work would, at some point, be forced to choose whether to move houses or to change their place of work. That would be the case, unless employers can find ways to ease these burdens.
Without any indication that the congestion on our roads would lighten anytime soon, it is now time to accept that this is the new normal. With that in mind, this might be a good time for everyone to revisit how we currently do things.
Depending on the industry, the market being served, or the profiles of employees, organizations can look at the following practices:
Flexible work hours. Allow employees who can report to work as early as 6 a.m. to end their working day by 3:00 p.m. This could lessen the employee’s travel time but, at the same time, retain the time spent in the workplace.
Allow agile work arrangements. Certain entities do not require all of their employees to physically report to the office every day. Of course, this would require in-depth studies to identify which types of work can be accommodated and what specific guidelines should be set up for this kind of arrangement.
Establish satellite offices. For those who have their main offices in Makati and have a good number of employees residing towards the other end of EDSA, it might be a good exercise to consider setting up a satellite office somewhere up north, such as Quezon City. This might be a very viable option to those who are considering expanding manpower size.
Make use of coworking spaces. Organizations can enter into business arrangements with coworking establishments throughout the metro where their employees can work. This would allow employees to find a conducive work environment closer to their homes.
These alternatives might not be for all organizations or employees. But, for those who can, it is now imperative to seriously look into ways we can ease the stress of the daily commute of our employees and, at the same time, contribute to the lowering of the number of people commuting every day. These alternatives would also require a different set of policies and cost considerations but, if it is something that can greatly help in retaining and recruiting talent, it might be worth the birth pains and additional cost of these changes.
We experience the same traffic grind day in and day out. We cope, we adapt. We also make choices for a better quality of life. In this new normal, it would be greatly helpful if organizations can also do their part in coping and adapting with their employees.
Anton Ng is a partner in the Audit and Assurance division 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: @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 at www.grantthornton.com.ph.
As published in The Manila Times, dated 25 September 2019