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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 President, I will devote my whole six-year term to transform Philippine governance and Philippine society into an inclusive, fair and shared economy.
The centerpiece and overarching program of that transformation will be the substantial reduction, if not, near eradication of widespread poverty and hunger.
WEST PHILIPPINE SEA
However, there are current issues that may need to be dealt with urgently and placed in proper focus at the outset of the administration. One of these is the protection and preservation of the economic right of the Philippines on the West Philippine Sea.
We will assert vigorously and unequivocally the exploitation right of the Philippines over its delineated economic zone within the West Philippine Sea as confirmed without any ambiguity by the Arbitral Award in 2016.
We will assert that right at every opportunity within the bounds of international diplomacy and practical considerations, including engaging in formal talks with any transgressor, if so warranted. There is no need to threaten war on the issue of the present transgression. That is not an option.
Certainly, we will take any available additional step that can be brought before the United Nations to protect, preserve and exploit that right which, as currently expressed by some knowledgeable parties, should be done. That step alone will keep the assertion of our right in clear view in the international geopolitical scene for as long as necessary.
Some powerful countries have expressed in various ways their support to our right. ++
We will request them to express their support whenever the opportunity arises. We will additionally engage other strategic countries to provide similar strong support.
Whenever the present status quo is disturbed by any party to encroach upon our right, our administration will employ appropriate measures to reverse such encroachment and deter similar future encroachments within proper diplomatic and practical bounds. The overriding course of action is to employ all possible means to arouse international support to assist us in protecting and preserving our right.
For the purposes of pursuing the foregoing objectives and courses of action, I will put together a group of experts to make all the necessary plans and undertake all necessary implementing actions, under my direction.
As part of these plans, it is of utmost importance to vastly strengthen the capability of our Coast Guard, not merely because of the present problem in the West Philippine Sea, but primarily because the Philippines is an archipelago and we need to protect the vast area of our oceanic economic zones. The greater problem is the sufficiency of the number of our Coast Guard ocean vessels.
We will review thoroughly the existing acquisition plans and accelerate the acquisition of modern and adequately-equipped vessels. Of course, finding the funds to pay for a large number of vessel acquisitions, in both the short-term and the long-term, will be extremely challenging.
We will find other feasible ways of doing so. One possible way is to engage the appropriate countries to provide us with a lend-lease mechanism similar to the program established by the United States during World War II to supply its allies with the needed war equipment and materials.
An additional way is to explore willing countries to build the Coast Guard vessels, and also needed additional Philippine Navy vessels, in Philippine soil under a long-term supply contract with the view that the construction costs could be reduced.
We will explore all other possibilities that may provide viable funding solutions.
Organizationally, the Philippine Coast Guard is under the Department of Transportation. Whatever the reason for creating that structure in the past, such structure now appears to be strange and would not lend to greater effectiveness that is urgently needed.
The better place for the Coast Guard, the function of which involves internal security, is to transfer it to the Department of Interior and Local Government which also has jurisdiction over the Philippine National Police. In this connection, it is necessary that the mission and structure of DILG be thoroughly reviewed and make it similar to the US Department of Homeland Security.
For this purpose, its administrative function over the local government units will be spinned off to another department or directly to the Office of the President. The present DILG may then be renamed as Department of National Security and may also take over the Bureau of Immigration, among others.
The foregoing matters relating to the Philippine Coast Guard will be pursued with great vigor and in so doing strengthen greatly the effectiveness of the government’s overall function over the country’s internal security.
I consider the protection and preservation of the Philippine right over its economic zone in the West Philippine Sea as a sacred duty. If we cannot resolve the existing disputes in connection with this right during our watch, we will endeavor to preserve that right intact and pass it on to the future generations of Filipinos who may be better able to resolve the disputes during their own watch. We will do no less.
As published in Mindanao Times, dated 27 September 2021