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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.
Do your own 'personal data'
07 Feb 2017DO YOU ever read the online portal terms and conditions before logging in to a website or the user agreement
before signing up with social sites like Facebook, Twitter, Pinterest and LinkedIn? Do you take the time to understand the fine print of a loan, investment, insurance or credit card application form before affixing your signature? Do you give a second thought when you write in your complete name and birth date in surveys?
We may live in a fast-paced digital age where “Knowledge is Power” and “Data is the new Oil” but why are we taking our privacy for granted?
Republic Act No. 10173, also known as the Data Privacy Act, aims to zero in on this lingering concern. First promulgated in 2012, this law was compelled to action when the implementing rules and regulations took effect only last September 2016.
The law seeks to protect (1) personal information such as the name and birth date of an individual; (2) sensitive personal information which usually includes the individual’s affiliation with religion, philosophy and politics, ethnic origin or race, marital status, age, and license, social security and tax identification numbers; and (3) privileged information which refers to all forms of data under the Rules of Court and other pertinent laws.
The newly-formed National Privacy Commission (NPC) is the governing body tasked to monitor and ensure that our personal information as business owners, private and public sector employees, students or ordinary citizens of our country are protected in accordance with the international standards.
Malicious attacks like the hacking of the Commission on Elections’ poll database between March 20 to 27, 2016 is a grim reminder of the possible impact when privacy is breached. Millions of unencrypted sensitive personal information like passport numbers and fingerprints were already made accessible to the online public by hackers.
Surprisingly, a malicious attack is at the bottom list of the top five breaches, according to the NPC. A company’s employees’ indiscretions top the list, followed by unsecured mobile devices, cloud storage application, and third-party service providers.
With our country arguably becoming the business process outsourcing (BPO) center of the world, how do processors of personal information like P&A Grant Thornton that caters to outsourced payroll and accounting ensure compliance to privacy security?
Under the law, safeguards are critical to compliance which include: (1) appointing a data protection officer who will ensure compliance with applicable laws on data protection and privacy; (2) conducting a privacy impact assessment to evaluate the impact of an organization’s program and process on data privacy; (3) creating a privacy management program to serve as specific guidelines on compliance and data breach mitigation, (4) implementing privacy and data protection measures subject to periodic review, and (5) regularly exercising breach reporting procedures which covers notifying affected data subjects and the NPC within 72 hours from discovery of breach.
Knowing our rights as data subjects is also key. These rights include the right to be informed, to object, to access, to correct or rectify, to block or remove, to data portability, to file a complaint and to be indemnified.
Are there penalties involved? Any violation laid out by the Data Privacy Act from collection to the disposal of personal information will be subject to imprisonment from six months to seven years and fine of P100,000 to P5,000,000, depending on the nature of the deed.
Furthermore, all processors and controllers of personal information are given until September 2017 or one year from the effectivity of the implementing rules and regulations to fully comply with the law.
With all these in place, can we safely call our “personal data” as personal? At the end of the day, it’s still a personal choice to control how much personal information is shared and up to what extent the personal information is used.
Maybe it’s time to start safeguarding our personal information the same way we protect our cash and other valuables even in this digital age when almost anything is shared online.
Ms. Dano is manager for Tax and Outsourcing at P&A Grant Thornton, one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 21 Partners and over 800 staff members. It has branches in Cavite, Cebu, and Davao. For comments on this article, please email sheena.dano@ph.gt.com or market.communictions@ph.gt.com. For our services, visit www.grantthornton.com.ph. Follow us on Twitter: pagrantthornton, and FB: P&A Grant Thornton.
As published in The Mindanao Times, dated 7 February 2017