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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.
Exciting times ahead
15 May 2017In May 2016, a majority of the Filipinos elected President Rodrigo R. Duterte as the President of the Republic of the Philippines. Fast forward to May 2017 and a lot has changed since then.
President Duterte’s anti-drug campaign has been the major highlight of his administration, drawing both praises and indignation from the Filipino people.
The international community has also made their respective stands, many unfavorable, about it. This and other issues have overshadowed the exciting developments awaiting our country – take, for example, his planned infrastructure projects as well as his proposed comprehensive tax reform package.
Have you ever been to Hong Kong or Singapore lately? Have you tried to ride on their trains on their underground subways? Have you ever wondered if it could be possible to replicate those in our country, especially in the Visayas and Mindanao region, to somehow address the problem of severe traffic congestion? Well, this is one thing that we could look forward to in the coming years.
Big-ticket infrastructure projects such as roads, bridges, mass urban and subway systems are among the key priorities of Duterte’s administration. This could also give way to massive employment as it would require people to initiate and finish the projects. Of course, completion of such projects would take a long time but, at least, we have some exciting development projects ahead of us. After all, we are taking a step at a time towards progress.
Have you been complaining about the amount of tax that is deducted from your salary every payday? Have you thought of going abroad to a country where the taxes are lower than what we have here in the Philippines?
Well, there is another thing that we could all look forward to – the tax reform package of the government with emphasis on the lowering of personal taxes. Currently, if a certain individual is earning an income of P10,000, the tax rate is set at 5%. In the proposed tax scheme, the threshold for income has been set at P250,000 wherein tax rate would be at 20%, decreasing to 15% by the year 2020. With this, an individual earning P250,000 annually would be able to take home an additional P50,000 which would have been the equivalent tax due in the current tax schedule. The additional take-home pay could already go a long way in the life of a Filipino and that is an exciting development that we could always hope for. It took a major step last May 3, 2017, when the House of Representatives Committee on Ways and Means approved the proposed Comprehensive Tax Reform Package. It will now proceed to the House plenary for discussion.
With these two exciting developments, one would be hopeful about the future of our country. Of course, they have their pros and cons. But we can always look at the bright side of things. After all, these would be for the benefit of most Filipinos.
So, are you ready for the exciting times ahead?
Well, let us just wait and see!
Mr. Solatorio is a manager of Audit & Assurance 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 850 staff members. We have branches in Cebu, Davao and Cavite. For comments, please email mark.solatorio@ph.gt.com or PAGrantThornton.marketscomm@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 Mindanao Times, dated on 15 May 2017