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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.
As the last grain of sand dropped from the hourglass and fireworks exploded into the sky, the new year brings the hope of a new beginning. People with newly-cut hair and dressed in fresh clothes feasted on an abundant array of food. Homes are ablaze with excitement for the unknown future that the new year may bring.
Despite the eagerness to start anew, some things stick like grease on a pan. There are so many old habits, disappointments, resentments, toxicity, and other negative feelings that we aren’t free of yet. We cling to people who already bade us goodbye. We hold on to such much baggage that our hope for a fresh start dwindles until we find ourselves back to our old habits and feelings in the middle of the year—and then we wait for another new year to start again.
We have to let go of our emotional baggage to start off the year with a clean slate. As British writer CS Lewis said, “Letting go of a painful experience is much like crossing monkey bars. You have to let go at some point in order to move forward.” The question, however, is how?
The recipe for letting go has been prepared for you. Just ready the ingredients, follow the instructions, and indulge in the satisfying results.
Ingredients:
1 pound of Acceptance, cut into strips
1 bunch of Understanding, trimmed and sliced into ½ lengths
1 can of Self-worth
1 cup of all-purpose Forgiveness
Time, to taste
Serving size: Unlimited
Directions:
Heat the combined Acceptance and Understanding in a saucepan.
One misconception in letting go is that we try to spit things out. The opposite is actually much more effective. Let everything in and don’t spit it out. Accept the things we can do nothing about and just let it be. We cannot change situations that have already happened, but we can control our reaction and emotions towards it. There is no point in running away, since it will catch up on us. Instead, acknowledge what you need to let go of, run towards it, and brace for the pain. Yes, it will hurt once we learn to accept and face everything; but trust me, it is a much-needed step.
This is the point where Understanding needs to be mixed in. Understanding the reality of the situation and deciphering what is true and what is made up in our minds will serve as the antidote to the pain we feel in facing the ugly truth.
Add one (1) can of Self-worth in the saucepan and stir occasionally.
Each person has an inherent worth; we just need to look inside and see their value. Appreciate your own thoughts, values, needs, and feelings. Avoid being too critical of yourselves and stop comparing yourself to others. Haven’t been kind enough to yourself? Treat yourself like you would treat your best friend—frank, but with compassion. Knowing yourself means knowing what you truly deserve. And we don’t deserve negativity, making it easier to let go.
Mix one (1) cup of all-purpose Forgiveness to the saucepan and let simmer.
Forgiving seems difficult, especially when it hurts so much. It’s alright. We don’t have to forgive right away, but we will get there. Eventually, we would choose to forgive them. It doesn’t necessarily mean we agree with what they did; it just means we don’t agree, but we choose to forgive. Forgiveness is a choice. It isn’t forced; it is given freely and bravely. However, we also need to forgive ourselves for being weak, for forgetting ourselves, for hurting, for almost giving up.
As American martial arts business coach Tom Callos said, “It’s not the bite of the snake that kills you, it’s the poison left behind.” We’ve been hurt, yes, like the snake that bit us. But holding on to that grudge and refusing to forgive is like leaving the poison behind. We have all heard of the saying “To forgive is to forget.” But forgiving is to forget and not to forget, for it is in forgiving that we forget the mistake; but we will always remember the lesson it brought us.
Wait for Time until cooked. Serve and enjoy!
Unlike other recipes that tell you how many minutes it will take for the dish to be cooked, this one doesn’t. It requires the same ingredient though, i.e., Time. But there is no definite measurement. It might take days, months, or even more than a year to complete the letting go process. We cannot rush, for the outcome may be undercooked. We cannot take too long, for it might be too late.
Time differs for each of us. Until then, we can follow and add other ingredients to the recipe, and then we wait for the perfect Time until we have fully let go.
Ms. Romarate is a senior official of the Tax Advisory & Compliance of P&A Grant Thornton in Cebu. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firns in the Philippines with 21 Partners and over 900 staff members in its offices in Makati, Cavitem Cebu and Davao. For comments on this article, please email sarah.romarate@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com.
As published in Mindanao Times, dated 7 January 2019