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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 strongest link in cybersecurity
05 Aug 2020If you receive an email resembling a familiar email format and address and saying the Covid-19 pandemic assistance fund would be released today, and it asks you to log on through a link to know more about the fund’s computation, what would you do?
Such emails have regrettably become common. In recent years, we have seen a sharp increase in the number of cyberattacks that caused exponential financial losses for and inordinate reputational damage to the high-profile individuals, governments, financial institutions and other organizations they targeted.
Cybersecurity is not a new concept, but rather an unceasing concern for governments and companies. Despite the growing level of awareness about cybersecurity risks, and corresponding preventive and detective measures deployed by organizations, why do cyberattackers still manage to penetrate and exploit the information technology (IT) systems and networks of their targets?
The answer lies in the most valuable yet most vulnerable assets of every organization: its employees.
Several studies say the majority of cyberattacks are executed with the help of unknowing employees. The most common scheme used by cyberattackers is phishing, which involves sending fraudulent communications, usually emails, that appear to originate from a legitimate and reputable source. Its aims to steal sensitive information, such as employee log-in information, credit card details, customer master data and other confidential information. It may also lead to the installation of malware in the target’s computer, which can be used to disrupt, damage or gain unauthorized access to an organization’s computer systems.
Cyberattackers use phishing not only to obtain financial gain, but also to commit more advanced cybercrimes against them.
The need for cybersecurity trainings
Cybersecurity threats remain a major challenge to organizations across various industries, and as technology advances and more complex business processes are introduced, more innovative cyberattack schemes surface.
There is no single solution that can fully prevent cyberattacks from happening, but an effective cybersecurity strategy can be of great help. It involves appropriate controls to maintain an adequate base level of security among employees, which is supported by trainings.
For employees to spot and prevent security breaches, they need to be educated on the different ways cybersecurity threats present themselves. Companies must arm their employees with the right knowledge and proper behavior in dealing with cyberattacks.
Employees need cybersecurity trainings to protect not only themselves, but also the entire organization against cyberattacks by making them aware of such threats and the proper way of handling them. By doing so, we are reinforcing the most vulnerable links in the chain.
What we do best at P&A Grant Thornton
As more processes are being transferred online and with the introduction of flexible working arrangements under the new normal, the risk of cybercrimes becomes more prominent and employees are becoming more susceptible to cyberattacks.
Within our organization, we understand the risks associated with cybersecurity and how it can affect both our employees and the firm in general. As a countermeasure, our firm implements a robust cybersecurity awareness program for its over 1,000 employees to help promote, maintain and improve a security-conscious environment. It uses an advanced online training platform that enables them learn cybersecurity concepts and experience simulated phishing firsthand.
The antiphishing simulation training includes test scenarios based on the typical daily activities of the firm’s employees, including receiving emails, fieldwork in a different location, working from home, and use of mobile devices and public internet hotspots.
The results are evaluated to identify which areas need more improvement. As a response to the threats posed by these areas, more controls will be deployed.
Dynamic cybersecurity trainings
Every organization needs a dynamic cybersecurity training and awareness program that is tailor-fit to their respective industries. It must be a comprehensive and integrated solution that delivers results.
There are tons of cybersecurity solutions available in the market nowadays, but choose one that understands your needs as an organization and can help your organization cost-effectively reduce cybersecurity risks and incidents, and relieve you from the tedious process of setting up your own cybersecurity awareness program and hiring process.
Choose a solution that is simple, flexible and scalable.
Refuse be the weakest link
So what do you do when you receive an email resembling a familiar email format and address? Do not panic and do not click on any links. It is best to handle emails you’re unsure about with utmost caution. Verify the email address of the sender and consult with the concerned department.
Be skeptic. Be vigilant. Become the strongest link in cybersecurity.
Clyde Drexler Duque is a senior lead consultant of the Advisory Services 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 24 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 clyde.duque@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit www.grantthornton.com.ph.
As published in The Manila Times, dated 05 August 2020