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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 the same way the flight attendant instructs passengers to “put on your own oxygen mask first before assisting others” in case of an emergency on board a plane, so should top management take the lead and be good role models of fitness, wellness and health.
In a study conducted by insurance giant AIA Group in 2016, the Philippines remains to be one of the unhealthiest countries in Asia. On average, Filipino adults spend only 2.1 hours a week for exercise (which is below the recommended 2.5 hours of moderate exercise, or 75 minutes of vigorous exercise). Seventy-one percent of Filipinos also eat dinner close to their bedtime. Interestingly, however, studies show that our level of health awareness increases every year, and a majority of Filipinos want to have healthier lifestyles.
One of the key findings of a research done by Sun Life of Canada (Philippines) reveals that the percentage of Filipinos concerned about their health rose from 71 in 2014 to 89 percent in 2015. Furthermore, 97 percent of the respondents stated that they were fully aware of ways to improve their health. But looking at the results of the research, the top three health problems remain to be excessive weight, obesity, and respiratory conditions.
“There has been a disconnect between what Filipinos wanted to do about their health – like exercise more and eat a more balanced diet – with what they have actually been doing. While people want to make changes in exercise, nutrition and stress management – that desire hasn’t yet been successfully translated into action,” said Riza Mantaring, CEO and President of Sun Life of Canada (Philippines).
In my own Master’s Degree research tackling the effects of nutrition knowledge on food choices among working professionals and university students, more than half of my respondents had high levels of knowledge about healthy food choices. However, despite being highly knowledgeable and fully aware, only 15 percent of them make healthy food choices. The majority of the participants still opt to go to fast food chains due to their busy lifestyles, the availability of cheap restaurants or food shops that offer delicious, but not really nutritious, food to satisfy their cravings.
In the corporate world, working long hours has long been accepted as the norm and default path. Employees have little time for exercise or time for cooking and eating proper and balanced meals. Given that lifestyle, social status, and even corporate practices affect a person’s health, I pose a challenge to top management to steer their employees toward the pursuit of health, fitness and wellness.
It is a well-known fact that companies and top management value healthy workers for several reasons:
Healthy employee = productive employee
Several studies have shown the significant relationship between health and productivity. A research from the Health Enhancement Research Organization (HERO) revealed that employees who maintain a healthy lifestyle had better job performance, proper time management and lower absenteeism.
Lower health care costs
Health care costs continue to increase, and companies try to manage such costs. Some employers give incentives or rewards to employees who keep themselves in good health.
Creating a positive image
Nicolaas Pronk, vice president for Health Management and chief science officer at Health Partners was quoted as saying: “What’s the value of people coming to work with a smile? What’s the value of having people on the phone responding to your customers in a good mood, who can solve problems because they’re there, they’re present, they’re working with attention to detail? What’s the value of individual workers working well together in teams?” This rings true for every company that values the importance of having healthy employees who exude a positive attitude, pleasant personality and exceptional performance.
Reliability
People who work in a fast-paced environment filled with all sorts of anxiety, insomnia, and other health conditions, give utmost importance to being physically fit as that helps build immunity against major health risks. Studies show that physically fit individuals tend to stay in their work longer as opposed to their less active counterparts. Moreover, employers always have the urgency to know they can rely on their employees, hence the importance of reliability in the workforce.
With so many benefits to companies and top management, how come fitness and wellness do not figure prominently in the corporate strategies of most companies? HR Departments now and then have wellness programs—a dietician is invited to talk, there is a Zumba class for several sessions – but these are not sustained. Top management usually is not sufficiently focused and does not push for a more complete and inclusive wellness program. Worse, many members of top management are themselves unhealthy and unable to live balanced lifestyles.
Top management should lead the way by continuously improving their physical and overall well-being—working properly, eating right, exercising and enjoying life. People in top management have to put on their own oxygen masks first.
Hosanna Angela Jarmin is a business development senior, BPS/Outsourcing Division, P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 21 partners and over 800 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 hannah. jarmin@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph.
As published in Manila Times, dated on 22 March 2017