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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.
IN THEATER, well-wishers usually say “break a leg” to actors before they perform on stage. The saying is an idiom that means “good luck.” Much to my dismay, it was not really good luck when I broke my leg eight months ago. As a result of the fracture, I spent a great deal amount of time on crutches, in a wheelchair, and in a cast. I am currently on an air cast, but I am already able to put partial weight on my leg. Through this painful experience and, as I am continuously adjusting to this reality, I have learned (and relearned) some of life’s most profound lessons the hard way:
“There is nothing certain but the uncertain” is a traditional proverb. Life is unpredictable and, in a split second, everything can change. What was supposed to be a lovely Sunday lunch with the family quickly turned into a tragic misfortune (i.e., a fall leading to a broken leg).
Key takeaways: Uncertainties can push us outside of our “comfort zones” and prevent us from doing our “usual,” but sometimes this is where we grow. Life is indeed uncertain and, as cliché as it may sound, we have to love hard and live life to the fullest, because you never know what tomorrow will bring.
“Life goes on.” When I first learned of my fracture, I was really devastated. The surgeon told me that my leg will have to be immobilized under a long leg cast for the first two months and will undergo a series of cast changes after several months depending on the healing process. I was then bombarded with thoughts that created stress, anxiety, fear, and nervousness. Can I do this? How will I survive with this injury? Will I be able to walk normally and wear stilettos again? The thought of the loss of mobility and independence was very difficult. As helpless as I saw myself at that time, I had deadlines, bills to pay, dreams to pursue, and a life to live. I finally came to a resolution that, though I am in a painful circumstance that forces me to slow down literally and figuratively, I must find ways to bear and overcome the situation. The healing journey may be a slow process, but quitting on it will not speed things up. Admittedly, looking at the bright side of things is still a work in progress, but I have already accepted this fate and that is a start.
Key takeaways: All of us go through rough times, petty or significant. The most important thing is that we are able to embrace acceptance and bounce back. Acceptance does not mean resignation and stagnation. It means that something is what it is and that there will be a way through it. You just have to have the courage to bear it. Even though you are facing challenges or difficulties, one should never feel hopeless, because every cloud has a silver lining.
“One today is worth two tomorrows”. There are times when I don’t follow the normal regimen of those with a fractured leg. I am required to undergo physical therapy (PT) sessions to regain use of my fractured leg, as this helps expedite the recovery process. The PT sessions help strengthen my leg bones and muscles and improve balance, leading to a restoration of standing, walking, and running in a period of time. While I know that the consistent attendance to these sessions is paramount to my full recovery, I have missed some appointments. As a result, I may not be progressing as well as expected. I am reminded again that if I had just done what I needed to get done today, I wouldn’t have to spend or exert effort twice as much later. Now I make it a routine to exercise on my own to compensate for the skipped therapy sessions. It really takes discipline, but it’s the way to get better.
Key takeaways. Set your priorities and line up activities that are focused on accomplishing them. Be persistent and consistent.
“We can be vulnerable.” Performing everyday tasks take longer and are more complex to perform, plus I need extra help from other people to carry out these tasks. Despite the everyday struggles, I still consider myself lucky. It could have been worse, and there are others who suffer more than I do. There are moments when no matter how I force positivity and no matter how much I have progressed since that fatal day, I find it difficult not only on my body but both on my will and spirit. Hence, I eventually break down. I think it’s “okay not to feel okay” sometimes. The important thing is to have an outlet for these negative thoughts and emotions. Cry, scream, and lock yourself out when you need to but, afterwards, pick yourself up and start all over.
Key takeaways. It is important to seek support from family and friends. Don’t be afraid to ask for help. I have received plenty of help and encouragement from my loved ones, and these made my struggles more bearable.
“Learn to appreciate even the little things.” Prior to my injury, tasks and activities such as walking, running, driving, and taking a shower were things I considered normal and, thus, easily took for granted. After the injury, I’ve realized what a gift they were! Many of us, in one way or the other, are guilty of being unappreciative of what we have. We let the good times pass us by with no sense of appreciation. We take things for granted, and we reflect only on how good they were when times are tough or when we no longer have them.
Key takeaways. Appreciate the things you can do, the things that you have, and the people around you. Make sure you practice gratitude, especially to your loved ones and be vocal about it.
With my injury, “break a leg” means something more than the idiomatic meaning. For me, it means whenever you fall, there is no other way but to rise up again but, with rising up, to have patience and perseverance.
Ms. Punay is a senior audit manager of Audit & Assurance of P&A Grant Thornton, a leading audit, tax, advisory, and outsourcing firm in the Philippines, with 21 Partners and over 850 staff members. It has offices in Makati, Cavite, Cebu and Davao. For comments on this article, please email meg. punay@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. Its website is grantthornton.com.ph. Its social media accounts are; Twitter: pagrantthornton, and FB: P&A Grant Thornton.
As published in the Mindanao Times, dated January 31, 2018