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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.
Thirteen years ago, when I was still in my early college years, I represented my class in a university-wide extemporaneous speaking competition. Each contestant was asked to talk about and expound on a statement written on the card they had drawn. The statement I picked was “Excellence does not always mean perfection.” Perhaps because of the topic, combined with clear thinking and good public speaking skills, I won first place in that competition. Weeks after, I wrote an article of the same title: Excellence does not always mean perfection. The words may not be the exact words I used during the extemporaneous speaking contest, but the thought and substance are the same. I am sharing my article, which was published in the university paper on the same year.
Perfection is being right, whereas excellence is the willingness to be wrong. We must admit that as human beings, we have the capacity to commit mistakes. Each of us is bound by his/her own set of limitations. It is up to us then on how we are going to translate these weaknesses into something positive. Mistakes are actually points of reflection and points for reconsideration. As they say, “From a bit of failure is a spark of learning.” A person who learns from his or her mistakes is less likely to repeat the same mistakes over again. From our shortcomings, we learn…from our learning, we improve…and from these improvements, we succeed. The secret is constancy of purpose. We must not be disheartened by our failures but rather, we must take them as stepping stones in life. What counts is not how many times we stumbled down our path but how many times we stood up and moved on. Indeed, we can never understand the real meaning of success until we learn the value of failure.
What is important is we put our hearts in what we do and do it in the nicest way we can. We may have failed at some point or have slipped through another but the process does not stop there. We may have lost some battles but the war is not over yet. We stand from where we fall and become better and better along the way. It is not what we lose but what we gain that really counts. Give it our best…do it in the nicest way we can…learn from our mistakes. It is how we do it that makes it perfect.
My younger self was definitely right. We tend to equate excellence with perfection so much that we miss the very essence of excellence. If we are perfect, we have no more room for improvement. Our imperfections are the ingredients that spice up our life in pursuit of excellence. I believe being imperfect does not mean we are mediocre; it only means that there is always something better to look forward to. We can always strive to be the better version of ourselves: that is excellence (Second part next week).
Thirteen Years After
Thirteen years have passed and many things have changed, from the way we do the simplest tasks to the most complex technological breakthroughs. Over the years, my idea of excellence has also changed. Before, excellence for me was just confined to the premises of the university. My goals in life were limited to getting high grades in exams and quizzes, graduating in college with honors and, finally, passing the CPA board examinations. As the great philosopher Heraclitus once said, “The only thing that is constant is change.” As my perception of excellence changed, my goals have also broadened to include other aspects, such as my career path, health, lifestyle, wealth, family, and relationships.
Excellence does not always mean perfection; most of the time, excellence means incompleteness. We will reach a point in our lives when we realize that there are missing pieces of ourselves that we feel we need to find. By nature, we are never satisfied. When taken in a positive context, this discontentment enkindles our strong desire to be better. Excellence means being better tomorrow than you were yesterday. In pursuit of excellence, we come up with strategies and targets. This is where goal setting comes into play. Goals are an important element of excellence. Seekers of excellence typically set challenging, yet reachable goals. Set goals that are realistic and attainable; otherwise, we are striving for perfection, not excellence.
Working at P&A Grant Thornton
For almost eight years of working at P&A Grant Thornton, the Firm has instilled in me the commitment to deliver quality output, the attitude to achieve more than what is expected, and the ability to seek and create opportunities to innovate within engagement work—all of which I consider qualities of excellence. At P&A Grant Thornton, we have six global values that underpin our culture and are embedded in everything we do—our CLEARR values: Collaboration, Leadership, Excellence, Agility, Respect, and Responsibility. Excellence is described as “finding a better way every time.” We never get complacent. We are distinguished by our innovation and our solutions-based approach, created and delivered by talented people with the passion to exceed expectations.
I often ask myself, “Why am I still doing what I am doing? What drives me to achieve?” I always look for reasons that will motivate me at work. However, I always end up with the same old reasons: money (always one of the reasons), opportunities for growth, challenges and variety (as I easily get bored with routine), and being able to inspire others to also strive for excellence and improvement. Bestselling author and clinical psychologist Dr. Harriet Braiker once said: “Striving for excellence motivates you; striving for perfection is demoralizing.” Strive, therefore, for excellence, not perfection. Perfection is impossible. “Nobody is perfect”, as the cliché goes. I totally disagree when people tell me to practice and practice, because practice makes perfect. If perfection is unattainable, then why do I still have to practice? “Practice makes excellent” is better and, of course, achievable.
The Challenge Ahead
Excellence does not always mean perfection, but it requires the drive to improve and be better, to go the extra mile. I believe everyone has the potential to succeed in whatever field, may it be at work, in school, or in whatever undertaking. The challenge is to convert potential into realized abilities. We have our strengths in the same ways as we also have our weaknesses. The key is to capitalize on the strengths without leaving the weaknesses unattended.
According to the American motivational speaker Les Brown, “Shoot for the moon. Even if you miss, you’ll land among the stars.” The challenge is to aim to be the best that we think we can be. We may not reach that goal right away but, at least, we progress and we get better. Excellence does not always mean perfection. Even in the little extra efforts we exert, there is excellence.
Mr. Mamacus is manager of Audit & Assurance Division of P&A Grant Thornton in Davao. P&A Grant Thornton is a leading audit, tax, advisory, and outsourcing firm in the Philippines, with 21 partners and over 900 staff members with offices in Makati, Cavite, Cebu and Davao. For comments on this article, please email raymond.mamacus@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For our services,visit www.grantthornton.com.ph.
As published in Mindanao Times, dated 10 June 2018