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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.
Head or Tail: Which Side of the Coin? (Part 1)
24 Oct 2016I HAVE always thought of life as a coin – a small, round piece of metal with two faces. It is already a truism that when you flip a coin, there is always a 50% probability that you would get a “head” and 50% probability that you will get a “tail” – either head or tail and not both, but no other choices either.
When we were younger, we were taught about what is good and what is bad, what should be and what should not be, what is black and what is white, and no in-betweens. We were never warned about the grey areas, the colored parts; that sometimes, it is not always black and white. Later in life, we realize that there is more to this two-faced coin; that we have our own CHOICES, we make DECISIONS, and we have our OPINIONS.
It has been roughly three months now since President Rodrigo Duterte assumed office. Many things had happened ever since and they are all in the news, both local and foreign, good news and bad news alike – from the “big dirty mouth” of Duterte to the government’s war on drugs, from the nationwide implementation of the 911 emergency hotline to the fraying alliance with the United States and other nations, from the Senate probe on “extrajudicial killings” to developments in territorial dispute over South China Sea (or should I say West Philippine Sea?). And how is the Philippines right now? How is the Duterte administration faring so far? How are we Filipinos right now? Answers vary and largely depend on which side of the coin you are looking at.
Result of the recent survey conducted by Social Weather Stations (SWS) for the second quarter of 2016 (no update yet on the 3Q survey which was not yet made public as of this writing) shows that 49% of Filipino adults expect their personal quality of life to improve in the next 12 months (“optimists”) while 3% expect it to get worse (“pessimists”), resulting in a net personal optimism score of +46%, which SWS considered very high, compared to similar surveys over the past 30 years. The survey also found that 60% of Filipinos are optimistic that the general Philippine economy next year would get better while only 4% felt that it would deteriorate.
I am completely drawn into the level of positivity that Filipinos always seem to possess. Most of the time, we face uncertainties with some pinch of hope and yet we can still manage to smile despite the struggles we go through. The improvised explosive device that hit the night market along Roxas Avenue, Davao City on the night of September 2, 2016, has claimed at least 14 lives and injured about 70 others but that was not able to topple down the optimism of Davaoeños. I witnessed how the city was not intimidated by the explosion and the residents were able to resurrect the night market business the following evening. Filipinos are indeed gifted with strong hearts. We see an opportunity in every problem, light in seemingly dark alleys. We are shaken but we never give up.
Similarly, for every milestone our nation faces, for every political and economic turmoil that besets our country, we remain steadfast and we always have something to say. Filipinos are not apathetic. We care to be involved in whatever means we can. We always have an opinion; we always express ourselves and what we are thinking. (Part 2 tomorrow)
Raymond Joey Mamacus is a Manager of Audit & Assurance of P&A Grant Thornton. P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firm in the Philippines, with 21 Partners and over 700 staff members. It has branches in Cavite, Cebu, and Davao.
As published in Mindanao Times, dated 24 Octobe 2016