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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.
Two days ago, we experienced a magnitude 6.1 earthquake in Luzon. Another one hit Visayas yesterday. From what has already been reported, there are a number of casualties mostly in Central Luzon and Eastern Samar.
In Metro Manila, where the population is denser and the buildings are taller, evacuation plans were put to test.
While the earth shook and the buildings swayed, I, for the first time in my life, ducked under my desk. While taking cover, the Game of Thrones fan in me could have channeled Arya Stark by saying “Not today” in her response to Syrio Forel’s question: What do we say to the God of Death? Instead, my faith led me to utter, “Lord, is this going to be it?” It was neither sarcastic nor said in jest. It was an acknowledgment that I am not in control and that God is sovereign. I then called my wife and my kids to check on them and subconsciously, I presume, to hear their voices, for it may be the last time.
From the stories I have heard from friends all over, people had different reactions. Some prayed, others cried. Others were on their mobile phone, trying to get in touch with their loved ones; others simply froze. These are all understandable reactions in such tense situations. It led me to think that, since not everyone followed the protocol to “duck, cover and hold,” what does that say about how we execute our plans in an emergency?
This line of thought progressed to reexamining the relationship between plans and execution. Sometimes, there is a great divide between plans and execution; but I think these two concepts are always connected. A great plan, as they say, does not mean much without equally great execution. Others would even dare say that a mediocre plan could still produce wonderful results, when coupled with great execution.
When you were at work or in school last Monday, did you notice if the people around you embarrassingly slid under their desk to take cover? My uninformed guess is that, most likely, they did not. As soon as the shaking stopped, did people immediately proceed to the fire exits (if they even know where it is), or did you hear a lot of “Shall we go down? Shall we stay? Can we use the elevator? Where are the stairs?”
People who report to work, particularly in the central business districts, are accustomed to having at least an annual earthquake drill. However, those drills that may or may not have been taken seriously were put to the test on that Monday afternoon. Did people remember the evacuation procedures? Who is in charge? If we had doubts on what to do during the tremors, a question arises: Did we remember anything from our drills? Did we plan enough? Did our execution fail our plans?
Execution, as they say, is the key to unlocking the success of any great plan. We often hear that, in pursuing a great idea or plan, we are encouraged to fail fast. Failure is something we need to accept as part of the execution of the plan. In the execution of an evacuation plan, however, I do not think that failure is an option. We cannot rest on the fact that there were no significant aftershocks afterwards or that our buildings withstood the earthquake. The execution of an evacuation plan is something we have to get right every single time.
Now knowing how our organizations reacted to a real earthquake evacuation, it is the best time to conduct a debriefing on what transpired and if there are matters we need to reinforce to people within our organization. Matters such as: What do we actually do while the earth shakes? When do we evacuate? What should we bring with us?
Which stairway do we use? Where do we go upon exiting the building? Is our evacuation area safe? I know it is easy for those who handle these evacuation scenarios to say that all of these concerns have already been communicated to employees.
However, the fact that not everyone was aware of or remembered how to react means there are issues that need to be addressed. Do we need to improve anything when we conduct our next earthquake drill? Do we need to make evacuation procedures more visible within office or building premises? How else can we make the evacuation faster or more efficient?
May all these reassessments and tinkering of plans be done as soon as possible, not only because we might get hit with another earthquake, but also to take advantage of the freshness of the experience. Our evacuation plans were tested last Monday, but did the execution of our plans pass? If not, how can we make it pass the next time around?
Anton Ng is a Partner of the Audit & Assurance P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 21 Partners and over 900 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@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 24 April 2019