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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 October 2015, Waze released the results of its Global Driver Satisfaction Index (GSDI), identifying Manila as having “the worst traffic on earth.”
Traffic in Manila has not improved over the past three years. It has worsened instead. I had several helpless moments when I was stuck one day in traffic for over two hours last month. There was nothing I can do, but to wait. I am scared to death about how it is going to be as the holiday season draws near.
Much has already been said and written about our horrendous traffic. I remember an anecdote about two expatriates who were offered a position in the Philippines with very handsome benefits package. These two foreigners were offered the same position one after the other–after the first one declined the offer, the same position was offered to the second candidate, who also declined.
The first candidate was an Australian based in Singapore, while the second one was a European based in Macao. Both were asked to travel to Manila and stay for three days to experience life in the Philippines.
Despite the very attractive offer, both respectfully turned it down for the same reason–quality of life. Both have very young children, and they cannot afford to waste time on the road going to and from work.
What we Filipinos have embraced and thought of as something normal is what citizens from other nations cannot stand. I spend at least three hours every working day going to work and heading back home. I leave the house very early to avoid heavy traffic and to be able to leave work before 5 p.m. to escape Makati traffic. It’s the norm for many of us, and we never really looked at it as an issue.
While we have grown numb to the traffic situation, it has gone from bad to worse.
Instead of trying to find a solution to what seems to be a hopeless case, we could first look at what is causing the bad traffic.
Infrastructure
Is the traffic situation a chicken and egg story? Are we in this situation because of lack of planning? Are there more vehicles than roads?
There is so much road construction going on. Would this mean that once they are completed, our traffic nightmares will be over? Most people would say “no” and argue that, once these new roads are completed, the number of vehicles would have tripled or quadrupled.
Policy making and implementation
In most countries, old vehicles are retired after a number of years as a matter of policy. In the Philippines, I have seen very old cars barely running on the road.
If we don’t have a policy on vehicle road worthiness, then we clearly have issues on implementation.
Other countries have invested a lot on their mass transportation systems and have aligned them with strict control measures to make it difficult to purchase a motor vehicle, such as first paying for the right to purchase a vehicle and having a parking slot for the car before getting the approval to buy one.
I have not heard of any similar policy in the Philippines, except for the imposition of taxes on the purchase of new cars, which is more of an income generation policy for the government.
People
We feel so entitled, so much that we feel that our rights are above the rights of others. Examples: a) pedestrians walking on the road; b) jeepney passengers boarding and alighting in the center of the road, even if they know they are obstructing traffic; c) tricycles, despite being barred by the law to run on national roads, still do so; d) traffic enforcers focusing on apprehending violators of insignificant traffic rules, instead of directing traffic; e) car drivers cutting a long queue because they are in a hurry.
As someone who specializes in people management, I believe that no amount of infrastructure and policy will solve the Manila traffic situation unless we change as better individuals.
We need to respect the rights of others, while continuing to preserve and exercise our own individual rights.
But the worsening traffic had positive effects that showcase our positive traits as a race.
I am now always on the road early to be ahead of the pack of corporate movers. You will be surprised by how congested EDSA is at around 6 a.m. It seems that everyone has the same thing in mind: beat the traffic by leaving the house early.
It has probably moved the rush hour to an hour earlier. At our offices, there are many employees who arrive before 7 a.m. Imagine the increase in productivity when employees arrive to work early.
While we continue to hope for a cure for the worsening traffic in Metro Manila, let us also look at its positive effects on us.
I am pretty sure you can identify one or two.
Obet Cruz is a Senior Managing Consultant of Advisory Services.
We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to obet.cruz@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com.
As Published in The Manila Times dated 24 October 2018