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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.
Penetrating the Filipino market
21 Feb 2017FILIPINOS spend more time on social media than anyone else in the world, according to a recent global study conducted by the social media marketing firm, We Are Social. As of January this year, 58 percent of the country’s population (around 60 million Filipinos) is connected to the internet. The study added that in 2016, Filipinos spent an average of 4.17 hours daily on social media; 3.6 hours of which (three-quarters of that time) were spent using their smartphones.
Who could have ever imagined that the telephone of Alexander Graham Bell in 1876 which is the size of a huge bag would mutate itself more than a century later into a handy piece of multi-functional device? The world is practically within our reach, right through the palm of our hands. How do smartphones and the social media affect companies and businesses in the Philippines and how they interact with their Filipino market?
Undoubtedly, the internet is going mobile and with this shift in technology, businesses in the Philippines with smartphone-compatible websites are at a competitive advantage over those with websites that are not smartphone-friendly. These incompatible websites are cluttered when viewed through mobile phones; the images may not show up, texts are too large or scrolling through them makes it difficult and inconvenient for consumers. For a brand to compete now, it needs to be as mobile as the customers.
We are now living in a world where everything should be easy and convenient. With just a few taps on your smartphone, you can already place an order of your favorite burger and French fries, delivered to your doorstep, fast and easy. Of course, no one can deny the emerging growth of online shopping in the Philippines. Who are not familiar with online platforms like Zalora, Lazada, and OLX which are transforming the old shopping methodologies that Filipinos were used to in the past?
MasterCard’s Mobile Shopping Survey in 2016 reported: “More Filipinos are using smartphones to shop for the convenient transactions, and are focused on fashion items, beauty products, and home accessories.” The survey also noted that in the Philippines, the increase in mobile shopping was dramatic, with 41 percent of the respondents purchasing an item via their smartphones. Filipinos point to being able to shop on-the-go and convenience as the primary reasons for mobile shopping.
Social media also have significant impacts on marketing and advertising in the Philippines. If you’re not “following” and “friending” or “tweeting” and “YouTubing”, you’re missing out on a lucrative opportunity to connect and engage with the Filipino market nowadays. Strong social media presence can entirely make a difference for Philippine businesses.
You can just imagine how a short clip uploaded on content-sharing websites like YouTube and Vimeo can reach millions of prospective and target customers. Social media marketing increases brand awareness and helps companies establish a growing online market of Filipinos that will, willingly and unwillingly, promote their business through liking and sharing.
For instance, Facebook, the world’s largest social media outlet, allows businesses to advertise to its billions of active subscribers using the highly-advanced “Ads Manager” tool to aim ads at the companies’ exact target market. Not to mention all those pesky ads that pop out on the screen when we are playing online games or those lurking on the sides of websites. These are annoying for some but unconsciously, it slowly penetrates the Filipino market right through the palm of their hands.
Just this Valentine’s Day, the whole Filipino social media were reacting and debating the three promotional videos of a famous fastfood brand on YouTube and Facebook. The fastfood brand not only premiered these videos on the social media to create enough buzz but they also promoted them during the meal hours so that the hunger would follow the buzz.
Lastly, social media is an effective tool for companies to improve their customer service by receiving feedback from customers and clients. If companies have good social media presences, it would be easier for them to address complaints, concerns, and inquiries from its market. A company that wishes to innovate should not do all the talking, it also should listen.
Indeed, technology has greatly changed how Filipinos make business these days. Now, it becomes a challenge for companies and businesses, big and small alike, how they can keep up with the rapid change in technology and how they can manage to jump ahead of ahead of competitors to take advantage of the turning tide. It is either you swim or you sink.
Mr. Mamacus is with the 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. We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to raymond.mamacus@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Mindanao Times, dated 21 February 2017