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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.
Before the COVID-19 pandemic, my daily routine would usually start at 7:00 in the morning, with my wife persistently waking me up. From then on, everything was intense and rushed. Living far from office, I would take one to two hours to travel to work, depending on the traffic. Work, meetings, and evening law classes took up most of my day. The day would end around 10:00 in the evening upon my arrival at home.
I admit that the time I spent with my wife and children was minimal. That was my daily life. As a child, I learned to hustle in this competitive world, keeping in mind that money and resources would not simply knock on my door.
At times, I could only wish for a break. We all get tired and weary. While I have paid leaves to spend more time with my family, it never seems enough. Then, the unthinkable happened. The COVID-19 pandemic set in, and everything changed.
We are working from home. My daughter’s classes were suspended. My wife, who delivered our son in late 2019, is still on maternity leave. All of us had to stay at home. That was our new normal.
Now, I am getting the hang of things. Lunch is spent with my family. It is not hurried, and I no longer skip this meal. While my virtual meetings could extend to late at night, I do not have to worry about my dinner and attire. My wife always makes sure I am full. More importantly, I have seen the milestones of my eight-month-old son, who now knows how to clap. I have observed how my daughter enjoys talking, dancing, and singing rather than writing. I don’t have to rush and weave through heavy traffic. I have learned to use a drill. I have become more tech-savvy for online classes and virtual meetings. I have learned to look at the positive despite the negativity hounding us.
With the onset of this new normal, allow me to share my realizations, which can be summed up simply as, “back to basics.”
Family is basic
Who are we with at this time? What clothes and things have we used to date?
I am with my immediate family, and I only wear plain house clothes. Except for internet connectivity, it seems that we have been transported to the olden days when malls and cinemas did not yet exist. The few branded clothes and shoes I have are of no use. In times like these, may we always cherish moments with our loved ones, for we do not know when this may end.
Basic skills first
Aside from my work from home, I need to do house chores. While I know how to wash the dishes and clean the house, I regrettably do not know how to cook or do carpentry. It is very convenient to say that I am neither a carpenter nor a cook. However, this pandemic forced me to do so. Recent events have made me realize that, had we been introduced to basic carpentry or cooking classes in basic education, I would not have to rely on YouTube how-to videos. On the other hand, my wife’s home cooking has made her a star in my daughter’s eyes at every meal. By the way, I can cook, but only with cooking oil.
Now, the academe, especially at the primary and secondary levels, is scampering about going online. It may be ideal for higher education with the acquired fundamental skills. For primary and secondary students who live in areas that do not have any internet, this will only cause undue burden. Even in my law classes, some students were kicked out of our online class sessions and exams due to power outages and intermittent internet connections. These external factors, by no means, should not gauge, much less affect, their learning. The internet is a learning aid, but it must not deter one’s fundamental right to education. Fortunately, asynchronous delivery and activities are in place.
While our government explores several teaching and learning modalities, perhaps they can consider recalibrating basic education to teach essential life skills through television or radio.
Insurance is basic
A healthy lifestyle, including regular exercise and a balanced diet, is the time-tested health booster. However, this pandemic is a warfare of the unseen. No matter how healthy we are, everything is uncertain. To shield ourselves and our families, we need medical and life insurance. Buying an insurance policy is primarily dictated by our means to pay the premiums. While insurance may be a burden to some, treat this as essential if you can afford it. As they say, if there is a will, there is a way.
Essentials are always a priority
While our hierarchy of needs may be have evolved, one thing is sure: this pandemic revealed the survival essentials from the non-essentials. Luxury goods, travel, entertainment, and other non-essential activities have halted. Food, medication, and education, being essentials, have gone online. If you venture into business or seek new employment, connect your venture to basic needs to ensure sustainability.
Stress, calamity, and pandemics, reveal one’s true color
Finally, as an employee, I have realized the importance of finding a transparent and compassionate employer. Thankfully, I am with institutions known not only for their excellence and integrity, but also for their compassion. I hope you, too, have found your compassionate employer or are an empathic employer in these trying times. Keep safe!
Kim Aranas is a Manager of Tax Compliance and Advisory of P&A Grant Thornton in Cebu. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firms in the Philippines, with 24 partners and more than 900 staff members. We’d like to hear from you! Tweet us: @GrantThorntonPH, like us on Facebook: P&A Grant Thornton, and email your comments to kim.aranas@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph
As published in Mindanao Times, dated 16 July 2020