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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.
Over the course of this past month, social media feeds have been abuzz with organizations posting about and celebrating International Women’s Day (IWD) and Women’s Month in their own ways. For the most part, these celebrations were par for the course across all the different platforms. There is an infographic on gender statistics here, a video of women leaders there. Everyone was captivated by the idea of #BreakingTheBias and the seemingly near future of gender parity.
The spell, however, is broken once you cross over to Twitter. The same posts and platitudes exist there, but so does the @PayGapApp bot whose sole purpose is to scavenge through posts on corporate “sheroes” and reveal just how wide the pay gap is in those companies. Suffice to say, with a few companies revealed to have a staggering double-digit gap, some of those #IWD2022 posts did not exist on Twitter for long after the bot called them out.
This whole affair is but one instance wherein the reality of our progress toward gender equality can be sobering. The latest reports from the World Economic Forum found that 2.4 billion working women worldwide are disadvantaged when it comes to economic rights and opportunities. Further, estimates say that it will take 135.6 years more to fully bridge the gap across work, education, and various other sectors. In the Philippines alone, studies show that female skilled workers earn Php5,000 less than their male counterparts. Plus, Grant Thornton’s own Women in Business 2022 report showed a considerable drop in the number of women in senior management roles in the country.
What this all boils down to is that the gender gap is still a prevalent and a long-term problem, even in well-meaning companies. Our own firm is no exception, and we have spent the past month garnering insights from our female leadership for ways to improve on inclusivity. Here are our key takeaways:
Start with stereotypes
In our article from earlier this month, we highlighted the perhaps unconscious yet persistent discrimination and bias against women in the workplace. While it might seem harmless to prefer male employees for highly skilled labor or ask female interviewees for their plans to start a family, these actions speak to a deep-seated cultural perception that might eventually rob companies of a wide and diverse talent pool to choose from.
Further, as Atty. Lea Roque mentioned, studies have often found that women would disqualify themselves from higher positions or greater opportunities as a result of this gender stereotyping too. This self-disqualifying mindset manifests in a number of ways: from women believing that “masculine” traits are required to become a successful business leader to women entrepreneurs underperforming for fear of handling sectors and capacities not “known for women”.
Thus, addressing the discrimination that might exist in an organization’s culture, through bias and sensitivity education and other methods, is an important first step to ensure fair treatment toward female employees and empower them to take a more active role in a company’s operations.
Recognize the need for flexibility
Gender stereotypes affect more than workplace dynamics, too. The sheer difference in length between paternity and maternity leaves, 14 days and 105 days respectively, suggests an inherent expectation that working women will shoulder the brunt of childrearing activities. Meg Punay’s article focuses more on how that unequal division of housework has forced women out of the labor force during the pandemic. But what is important to note here is how inequality in the expectations and responsibilities for women outside of work can round back and affect their performances during work, and in some cases, even urge them to look for less demanding employment.
While it is too much to expect companies to solve for inequalities outside of the four walls of their office, management can acknowledge this extra burden and support their female staff by providing more flexible arrangements. Flexi-time, work-from-home arrangements, and strict respect for time-off and overall work/life balance would help to retain talent of all demographics, not just women.
Transparency is key
It has long been assumed by experts that transparency is vital to closing the pay gap. As noted by the New York Times and as mentioned by our Chairperson and CEO Marivic Españo during her recent interview with BusinessWorld, secrecy can allow employers to hide the structural inequalities that might lead to disparate pay and even hide the fact that individual workers are underpaid. Without a clear and transparent basis for pay, role responsibilities, and career trajectories, it is difficult for female employees to know whether there is a problem in their performance or whether they are unwitting victims of discrimination.
The Philippines has legislature in place meant to protect the rights of female staff, such as the Magna Carta of Women and the Gender Equality and Women Empowerment Plan of 2019-2025, but as Paz Malubay stated in her article, there is more to be accomplished when it comes to the implementation of these policies. Notably, a lack of study on local wage gaps and the continued regard of salary discussion as “taboo” are barriers to overcome for further equity.
Lastly, leadership must be visible
The data is crystal clear. As important as awareness campaigns are to addressing a problem, the issue of gender equality has passed the point of lip service. With companies under scrutiny to make good on their promises for corporate social responsibility, concrete and visible improvements are better received. Beyond minimizing the pay gap, organizations can look into achieving an even ratio of men and women senior leaders or having women leaders who are not just pigeon-holed into more “feminine” roles. At the least, management can also encourage more vocal support for inclusion initiatives from leaders of all demographics.
Instead of as a reckoning, companies, as well as governments, should look at events like the @PayGapApp fiasco as a wake-up call for more meaningful action. Critics and stakeholders alike will soon look past virtuous marketing and zero in on an organization’s policies and deeds – or alternatively, their inaction – and it is high time we all walk our empowered talk.
As published in The Manila Times, dated 30 March 2022