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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.
Three hours. That’s how much time I spend on the road with my wife for our daily commute. Just the two of us. We are, therefore, each other’s captive audience for whatever we have to say.
Three hours each day. Other people see that as a complete waste of time, a precious resource. But other than not being able to spend time with our girls before they turn in for the night, I do not have any much concern with the three-hour commute.
Three hours each day. Unless my wife is asleep on the passenger seat, we have three hours each day to listen to each other’s hopes and concerns and everything in between. Lately, we have been talking about topics such as technological changes, new skills that we want to learn, and how we can further develop the skills that we already have. Unromantic topics, I know but, with 260 hours in a year to burn, I do hope that you will cut us some slack.
Technology is constantly changing and shaping how we do things. There is a new way of transporting people — it is called ride-sharing. There is a new way of watching movies and listening to music — it is called streaming. Maybe soon, Bitcoin and Blockchain would be as normal as credit cards and wire transfers. These are just some of the manifestations of the changing times.
How can we cope with these changing times? I don’t have an exact answer, but what I do know is that we have to adapt and we have to develop.
One way for us to be able to adapt and develop is to plan our careers. Plan for multiple careers. Some refer to it as being able to create a “career portfolio.” Apart from our main career, look for another “career” that you can pursue. A “career” in something you are passionate about. If you are an employee, look for another “job” that you can do after office hours. You do this not necessarily to earn more income, but to expand your horizons and skill sets. That “other career” should be anchored on the desire to acquire more skills and to make those two “jobs” complement each other. Kabir Sehgal, an investment banker and an award-winning music producer, is a good example. He is also a bestselling author and a US Navy Reserve officer.
According to a Harvard Business Review podcast that I listened to, building a career portfolio allows Sehgal to leverage his skills as an investment banker to be able to plan and strategize his next music production gig. His corporate experience allows him to pick the right people and to ensure that everybody is always conscious of deadlines. These competencies come in handy, as they may not be that common in the music industry. When he started his career as a music producer, Sehgal was able to use his steady stream of income from his corporate job to finance his music gig. There were also times when he was able to invite his corporate clients to meet music artists, which then contributed to Sehgal strengthening his relationship with his clients.
10,000 hours. Engaging in a new career, acquiring skills, and developing skills is not easy. People such as Malcolm Gladwell have been espousing the need to put in the work in order for somebody to be an expert in something. In his book Outliers, Gladwell pegged the work to be put in at 10,000 hours before somebody can be an expert. How did Gladwell derive “the magic number of greatness,” which is 10,000 hours? It is possibly from the research of Anders Ericsson, a research psychologist, who studied young musicians in a German academy?
In an episode of the Freakonomics podcast, Ericsson explained that he and his colleagues discovered that the average practice hours of elite musicians in the German academy was 10,000 hours before they reach the age of 20. Ericsson, however, clarified that 10,000 hours should not be merely about counting hours, but about “deliberate practice.” In deliberate practice, the key component is that the individual is consciously working to improve his or her performance. This involves being clear about what particular skill an individual wants to improve and being able to receive immediate feedback to correct mistakes.
Deliberate practice involves a systematic approach. It has a purpose, a clear objective. I once thought that repetitions are enough. That doing things over and over again would garner me enough experience to be better at doing certain things. These mindless repetitions, according to Ericsson, are not doing enough to see significant improvement. It will just give you a false promise of improvement without being able to really reap the full benefits of the countless hours you have already committed.
Two careers. 10,000 hours. I don’t think we should be particular with the numbers, but we should always strive to learn new things and be purposeful in our development. That’s what we want to drive at. Learn and develop.
Spending thee hours each day over the last 10 years with my wife – that’s not enough for me to reach 10,000 hours. I guess I still have some mileage to pursue before I can consider myself an “expert” in my “other career” as a husband.
Anton Ng is a partner, Audit & Assurance of 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 more than 850 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.marketscomm@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 27 September 2017