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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.
Ten hours and 27 minutes. This is the average time Filipinos aged 16 to 64 years old spend browsing the internet and staying online. Social media management firm Hootsuite and creative agency We Are Social’s Digital 2022 Global Overview Report reveals that Filipinos are among those who spend the longest time connected online.
The results of the report are not surprising. It is not hard to find someone busy tapping on his or her phone in a bustling street in the Philippines. When we are not messaging our friends and family, we resort to taking videos for upload on TikTok or taking snapshots of our food to add to our well-curated Instagram feed. These scenarios became more commonplace when the pandemic hit. We relied heavily on mobile apps to transfer money, pay bills, and have our food cravings satisfied. No surprise there. Probably, the better question to ask is: Really? Just 10 hours? Based on what we see, it does seem like Filipinos spend more than 10 hours online daily.
While the proliferation of reliable mobile apps and the ease in getting connected to the world wide web provide many benefits, they also unlock doors to online bashing and data security issues. One of the more harmful but often overlooked effects of going digital is misinformation and in many cases, disinformation, in the form of fake news or false content.
Misinformation vs. disinformation
To shed light on the harmful impact of misinformation and disinformation, UP Professor Fatima Gaw differentiated these two concepts at a session I co-chaired during PICPA’s Accountancy Week Celebration.
As cited by Professor Gaw, Victoria Rubin in her research paper/journal refers to misinformation as the act of providing inaccurate information, while disinformation occurs when one intentionally shares deceptive and often manipulative data. The key difference is intention. We may spread false information because we fail to fact-check the accuracy of data, but knowingly spreading information which we know is false is a wholly different matter and one considered far more dangerous.
Spotting misinformation, disinformation
The types of mis- and disinformation are really hard to spot. These include making false connections, or when headlines or social media captions are different from what the main material contains, and sharing manipulated content with the intent to deceive. That satirical article or that video you just finished watching? It may have been shared without any intention to fool you, but it may contain incorrect data that can easily sway you into believing these data are factual.
To expound on these gray areas, Professor Gaw introduced what she termed the “sandwich strategy” often utilized to slyly conceal mis- and disinformation. This happens when misleading or distorted information is squeezed between factual information to give the false notion that the whole content is factual.
Half the time, without realizing it, we tend to believe uncorroborated information posted by our favorite influencers and even parody accounts. What we fail to take into account is that our go-to social media accounts where we get our daily dose of fun content may be managed by those who are paid to share biased posts in support of their clients. Tip: be wary of paid trolls. They lurk everywhere.
Upholding accountability
A 2022 Social Weather Stations (SWS) survey showed that 69 percent of Filipinos describe the spread of fake news as a serious issue, with 32 percent of respondents adding that fake news shared by media is a “very serious” concern. The same survey also revealed another pressing issue: 51 percent of Filipinos admitted they find it hard to spot fake news.
The proliferation of distorted data does not just affect private citizens; businesses can also be the victim of false information. In the field of accounting and audit, a profession which relies heavily on facts and figures to come up with accurate audit and financial reports, the effects of disinformation and misinformation are more apparent and much more critical.
As the world goes digital, auditing firms are faced with a dilemma: shift toward digital transformation or be left behind by competitors. The answer is simple – go digital too. But along with this choice comes risks posed by cybersecurity and falling prey to disinformation and misinformation.
Considering all the harmful effects of disinformation, knowing is not enough. Concrete action is needed.
Help institute transparency, make room for checks and balances
As the government ramps up its effort to combat the spread of false information, professional organizations and the private sector can also help in this fight by putting within their organizational frameworks policies that promote transparency and accountability when it comes to sharing and use of data. This will help instill a mindset of accountability that members of these organizations can imbibe even in their dealings outside the organization. This is where firms offering cybersecurity and other digital services come in. There are companies that, aside from offering their main products, also have automation, shared service, and data security services for their clients. Hence, it is a wise option to ask service providers if they can likewise provide these solutions.
For accountants in the public sector, finding new ways to institute checks and balances in their agencies is also helpful. By doing this, citizens’ need for a more accountable government will be addressed. In the process, by making sure that all information released by our agency is correct and well-researched, we help reduce instances of sharing of fake news or misleading content.
Contributing to disinformation and misinformation is a clear affront to democracy. While we have every right to express our opinions, with this right comes the duty to not trample on the right of others to receive truthful information.
Curbing widespread sharing of false information, as well as ensuring that our society does not become an environment marred by disinformation and misinformation, does not just fall on the shoulder of the government. Citizens, the private sector, and socio-civic and professional organizations must also take an active part in this noble cause.
As published in The Manila Times, dated 27 July 2022