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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.
Friday feels. This is what you told yourself on a Monday morning. Like any other day, you do not feel like doing the things that need to be done. Tomorrow is the day you will do what you wished you had done today. You blame it on the lack of motivation, and so you do other things, hoping that the task will go away. You changed the wallpaper of your desktop, selected a suitable theme for your email, and chose the best font for your report.
Three days before the deadline, you panic. You spend three sleepless nights, and that is when you were able to finish the task. The output may not be that excellent but, phew, you did it. The question is—are you satisfied with your output? Do you think you could have done better?
Procrastination is the act of delaying or postponing a task or set of tasks. It is the force that prevents us from following through on what we set out to do. It seems that the act of procrastinating is timeless. 535 years ago, when the Friars of the Confraternity of the Immaculate Conception asked Leonardo da Vinci to create a painting of the Virgin Mary and the Christ Child for the altar of their chapel, the artist agreed to have it finished in seven months; however, it took him 25 years to complete the project. The famous Mona Lisa even took da Vinci 15 years to complete. Although da Vinci is considered a Renaissance man and a genius of art and design, he was, without a doubt, like all of us (I assume) a certified procrastinator.
In a TED Talk, internet writer Tim Urban explains what happens in the mind of a procrastinator and why one waiting until the last minute leaves a lot of people feeling unfulfilled. Urban says that everyone procrastinates, but deadline-driven procrastination similar to the situation above differs from situational procrastination. When there is no real deadline, the panic monster does not appear, which Urban says is the real source of frustration. In the Philippines, we experience situational procrastination, a long-term procrastination, more especially in terms of disaster preparedness.
Over the years, a significant global increase in the intensity and frequency of extreme weather events and other force majeure has happened not only in the Philippines, but across the world. This is expected to further increase if climate change continues. The Philippines is particularly prone to typhoons and other disasters, and so emergency preparedness and disaster risk reduction initiatives are essential.
However, have we really imbibed in us the need to take precautionary measures? Or are we just waiting for something bad to happen before we make a move? Procrastination is keeping us from being prepared. Even if the local and national government and civil society have exerted efforts in providing disaster education and emergency training programs to raise awareness and to promote self-reliance, such things would go to waste if we do not act on them.
In the past month, we have witnessed an earthquake striking Mindanao. People have suffered the consequences of this natural disaster. Recovery will indeed take time as others look for ways to rebuild the properties that were destroyed, as they were not expecting this disaster to happen. If only we prepared and had done the things we were told to do, damage would be minimized. Preparing for a disaster does not have to be difficult. Even if nothing happens, there is peace of mind that comes in knowing that, if a disaster did strike, we would be ready. On the bright side, if we are to look for inspiration in these tragedies, it is the display of kindness toward helping victims and by providing spiritual, emotional, physical, and financial assistance to our fellow Filipinos.
Long-term procrastination is indeed a serious disease that needs to be cured. We need to take care of ourselves and do our part. As per Proverbs 6:4 cites, “Don’t put it off; do it now! Don’t rest until you do.” The fact that we procrastinate does not mean that we are lazy and inefficient. We put things off maybe because we don’t really want to do them, we have many other things on our plates or we are afraid of failure, that even if we do our best, our best is still wanting. Let us focus harder on the goals that we are procrastinating on. Dig a little deeper. Figure out why. And then actually DO something about it. The next time you find yourself promising to check in your social media accounts for 10 minutes and ended having a screen time of 2 hours, slap and remind yourself that it is better to finish the task at hand and enjoy the rest of the day doing the things the you wanted to do. Rather than saying “I must do it”, tell yourself, “I choose to do it now”.
Today, let us take the first major step in accomplishing something big that will eventually benefit us. If we do not do it now, we might regret it later.
Jobelle Bongato is a Semi-Senior in the Audit and Assurance division of the P&A Grant Thornton Cebu office. P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 23 Partners and over 900 staff members. We are in Makati, Cavite, Cebu and Davao. For comments on this article, please email jobelle.bongato@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 10 December 2019