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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.
Magic has long captivated audiences with its blend of mystery and wonder. Just like many, my childhood memories are filled with awe-inspiring performances where cards vanish, people defy gravity, and seemingly impossible feats are accomplished right before our eyes. These mesmerizing moments lead us to question reality itself, pondering whether genuine powers are at play or if it’s all just an elaborate trick.
One of the most intriguing phenomena in the world of magic is the way in which illusions can so profoundly challenge our perception. As children, we may have been spellbound by these performances, left in awe and wondering about the seemingly impossible. How did that card disappear? How did that person float in mid-air? How did that shattered card get restored to pristine condition? Such questions often leave audiences bewildered and fascinated.
However, a significant shift occurred when "Breaking the Magician's Code: Magic’s Biggest Secrets Finally Revealed" hit television screens. This show, featuring a masked magician, laid bare the mechanics behind various magical illusions. By exposing the tricks and techniques used in magic performances, the show aimed to demystify the art of illusion, revealing that what seemed like supernatural feats were, in fact, clever illusions and sleight-of-hand techniques.
The release of such a show had a profound impact on the world of magic. On one side, many magicians and enthusiasts felt that exposing the secrets of their craft undermined the very essence of what made magic enchanting. The surprise and wonder that magic relied on were compromised. If everyone knew how the tricks were performed, the allure of magic could diminish, leaving audiences less captivated. On the other hand, the show had an unexpected benefit. By revealing the tricks, it challenged magicians to innovate and push the boundaries of their art. With traditional illusions no longer having the same impact, performers were compelled to think creatively and come up with new ways to dazzle their audiences. This push for innovation led to a revitalization of the magic industry as magicians sought to craft fresh and captivating performances.
The debate surrounding the revelation of magic's secrets offers an insightful parallel to the business world. Likewise, in business, the question of whether to share or withhold key information is a common one. The dynamics of revealing proprietary knowledge or strategies can have far-reaching implications, much like in the world of magic.
1. The Case for Sharing Secrets
In the business context, sharing knowledge can foster collaboration, innovation, and growth. By openly sharing best practices, strategies, and even certain trade secrets, businesses can stimulate creative solutions and enhance overall industry standards. For instance, in fields like technology and research, sharing findings can lead to faster advancements and collective progress.
Moreover, transparency can build trust with customers and partners. When a company openly shares how it operates or addresses issues, it can strengthen its reputation and build stronger relationships. This openness can be particularly advantageous in service industries, where customer trust and satisfaction are paramount.
2. The Risks of Revealing Too Much
However, there are risks associated with sharing too much. Just as exposing magic tricks can reduce their impact, revealing proprietary business strategies or processes can lead to increased competition and potential exploitation. For example, if a company divulges its unique approach to a market, competitors might replicate or even improve upon it, diminishing the original company's competitive edge.
In highly competitive industries, keeping certain strategies or innovations confidential can be crucial for maintaining a market advantage. Proprietary technology, marketing strategies, and operational methods are often closely guarded to ensure that a company remains ahead of its rivals.
3. Balancing Innovation and Protection
The key for both magicians and business professionals is to find a balance between sharing and protecting information. For magicians, this balance might involve revealing enough to spark interest and innovation while keeping some elements of their craft secret to maintain the magic’s allure. For businesses, it means being strategic about what information is shared and what is kept confidential.
4. Encouraging Innovation
Both fields benefit from a culture that encourages innovation. In magic, the challenge of coming up with new illusions keeps the art form vibrant. In business, fostering an environment that values creativity and forward-thinking can lead to breakthrough ideas and growth. Sharing insights and encouraging collaboration within a controlled framework can stimulate new ideas while still safeguarding competitive advantages.
5. The Role of Secrecy in Strategy
In both magic and business, secrecy can play a strategic role. For magicians, it’s about preserving the wonder of the performance. For businesses, it’s about protecting intellectual property and maintaining a competitive edge. However, strategic secrecy doesn’t mean complete isolation. It involves selectively sharing information to drive innovation while protecting core competitive advantages.
Ultimately, whether in magic or business, the goal is to find a balance that fosters growth, innovation, and engagement while protecting essential advantages. By carefully managing what is shared and what is kept confidential, both magicians and business professionals can continue to captivate their audiences, drive progress, and achieve success.
As published in Mindanao Times, dated 04 August 2024