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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.
Every time I am asked to give an advice to new hires in our Firm, I never failed to mention to them: “Read books!” Also, I usually make a random survey of new hires who are habitual readers by a show of hands, and sadly, those who read are less than 10 percent of the batch. In this age of YouTube, mobile gaming, Twitter, Facebook and Instagram, books, indeed, have a formidable competition. The youth find it easier to surf than to read. Nowadays, reading is likely seen by the youth as a chore and, to some, even geeky; not realizing the many benefits of reading. How do we, indeed, entice the young to read and see the benefits of reading?
An article in the Harvard Business Review entitled “For Those Who Want to Lead, Read,” asserted that “reading can make more effective leaders.” “Reading increases verbal intelligence, making a leader a more adept and articulate communicator,” wrote John Coleman in that August 15, 2012 article. It’s not just reading business books and magazines, though. The article said, “reading novels can improve empathy and understanding of social cues, allowing a leader to better work with and understand others. And any business person understands that heightened emotional intelligence will improve his or her leadership and management ability.”
If one goes through the list of benefits of reading, one would find that readers attest to an enhanced thinking process and improved written and oral communication skills. Also, readers get a glimpse of human nature and motivations that bequeath them empathy and a better understanding of other people. Reading also provides us a respite from the stress while it keeps the mind active.
One of the things my mother is proud of when it comes to her children is that we are voracious readers. I read everything. I grew up reading Filipino graphic comics. My mother bought these “komiks” like Hiwaga, Tagalog Klasiks, and Pilipino Komiks from Agoo, La Union, which we then rent out to customers of our sari-sari store in Sto. Tomas, La Union. I remember my siblings and I usually fought over who got to read them first. There were times I hid the magazines from customers when I was not done reading them yet. My reading habit continued to Readers’ Digest and then to the best-selling novels of Forsyth, Clancy, Patterson and Grisham on to memoirs and biographies. Today, I read any book that catches my fancy. To me, reading widens my vocabulary and polishes my speaking and writing skills. Sometimes, I am surprised that the apt words just pop in my head when I am writing a difficult email or composing an article. Moreover, when I am talking to clients and colleagues, I realize some things just come out based on knowledge stored at the back of my mind.
I am not sure how my love of reading came about. I just know I can be transported elsewhere from where I am reading. Fortunately, my wife loves reading, too. Thus, we practically forced our children to read by limiting their television watching and computer surfing and playing. We have a policy where we set no limit when it comes to buying books. I am not sure whether this is the right way to instill the love of reading to kids nowadays.
There are several highly successful people who credit reading as one of the main reasons for their success.
Warren Buffett reads at least 500 pages a day while Bill Gates reads practically one book a week. Phil Knight of Nike is also said to have an extensive library. Practically all the tech companies’ innovators, founders and business titans are voracious readers. The Founders of P&A Grant Thornton—Ben Punongbayan and Joe Araullo—are also avid readers.
With the hosts of benefits and known personalities who are role models, how come reading is still believed to be in decline? What should we do to encourage our next generation of leaders, especially the Generation X and millennials, to read? With the internet becoming more ubiquitous, how can physical reading be considered a fun and worthwhile activity for the young?
There are many suggestions to get the youth to read—organize a book club, join a reading group, relax in a “no internet” place, etc. Most importantly, those of us who still do read should read to our children to pass on the love of reading. Also, in this age where we are drowning in too much information, a great book is still a worthwhile refuge. Let us always remember what Mark Twain said: The man who does not read good books has no advantage over a man who cannot read.
Jessie Carpio is a partner and head of BPS/Outsourcing. He is also the president of P&A Grant Thornton Outsourcing Inc., an entity wholly owned by 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 over 800 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 jessie.carpio@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 22 February 2017