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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.
At 7 a.m., my alarm rang. I woke up on a different bed. I am not on my bunk bed anymore. I woke up hearing birds chirping instead of cars honking and chickens scratching the roof instead of city cats meowing. It is the first day of the quarantine, and I am back home in Bohol. I returned home before Cebu City declared a community quarantine.
In light of the increasing number of COVID-19 cases in the Philippines, the government implemented an enhanced community quarantine on cities and provinces to curb the number of positive cases. This quarantine, however, has caused companies to shift to a work from home setup.
It is the first time that I would work from home. It took me a week to discover which part of the house has a reliable internet connection. My parents were supportive. I stayed in a separate room where I could not be interrupted, yet my father would check on me from time to time. My mother, on the other hand, diligently cleaned my workspace, placed a pillow on my seat so my back would not hurt, and even arranged items in the background so the room looked presentable during video conferencing meetings.
With this work from home arrangement, however, I experienced many setbacks, from an intermittent internet connection and an overheating laptop to challenges in transmitting documents and instructing colleagues. These delays were making me anxious, along with feeling unproductive and uncertain over the coming weeks.
One night, when everyone was asleep and I was walking about our living room, a dusty photo album sitting idle in a cabinet caught my eye. As I flipped through every picture, I lost track of time and realized I was smiling. I was looking back on fond memories, which came to me as a relief since the start of the quarantine. Deep inside, all I felt was sheer joy.
This pandemic has been in the headlines for months now. It has completely taken over the world, and our way of living has drastically changed. The old normal, as we auditors call it, has a material uncertainty of going concern: it is hard to know when things will return to the way they were. We have many questions about this crisis and about how our lives changed because of it. It seems like all the progress that we have been making is delayed or has been taken away. Unfortunately, the virus has spread not only through human-to-human transmission, but also on social media sites in the form of fake news and our thoughts. We feel frustrated by all the chaos.
Finding happiness during this pandemic is challenging. Like looking through the photo album, we must look for small pockets of joy, many of which might be right under our nose. Pockets of joy will become blessings; the more we look for them, the more we see it all around us. We may not see them instantly; we must open our eyes and slow down to find them. I see a pocket of bliss in my mother, who has lent her time to make me comfortable while working at home. I see it in my father, who often checks if I am doing okay. I see pockets of happiness in my coworkers and friends who are a video call or chat away, and to whom I can confide when I feel anxious and lonely. I see it in our frontliners who tirelessly brave the storm of this pandemic.
I hope we take this time to remember and acknowledge even the smallest sparks of joy and the things we can control. We cannot control the virus, the movement of others, or the government. What we can control, however, are our thoughts and actions. Let us prevent the spread of the coronavirus by being physically and mentally healthy. Wash your hands regularly, wear a face mask, go outside only when necessary, maintain physical distancing, connect with friends, build relationships, and stay positive. Through these simple steps, we can help flatten the curve.
In moments like these, let us trust the Lord that everything will work out for the better. We cannot navigate this storm alone; we need Him as the captain to steer us. Despite the unfortunate events this pandemic has caused us, let us remind ourselves of the certainty of who God is. According to Psalm 112: 7-8, "Bad news won't bother them; they have decided to trust the Lord. They are dependable and not afraid, and they will live to see their enemies defeated." We may be physically distant from each other, but we must not be spiritually distant from God. Le us not allow this COVID-19 pandemic to take hope away from us. Remember that this moment, too, is worth living.
Jobelle Bongato is an In-Charge of Audit & Assurance of P&A Grant Thornton in Cebu. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firms in the Philippines, with 23 partners and more than 900 staff members. We’d like to hear from you! Tweet us: @GrantThorntonPH, like us on Facebook: P&A Grant Thornton, and email your comments to jobelle.bongato@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph
As published in Mindanao Times, dated 01 June 2020