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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.
The Social Security System (SSS) has released Circular 2021-004 in support of the digitalization of SSS benefit processes and in compliance with the zero-contact policy under Republic Act (R.A.) 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
The online filing of Maternity Benefit Applications (MBA) and Maternity Benefit Reimbursement Applications (MBRA) through the My.SSS portal in the agency’s website shall be implemented based on the following guidelines:
A. Coverage
1. For MBA – All female SSS members and members separated from employment and did not receive advance payment of maternity benefits; and
2. For MBRA – All employers including household employers.
B. Pre-requisites for online application
1. A registered My.SSS account; and
2. A disbursement account enrolled with SSS through the Disbursement Account Enrollment Module in the My.SSS portal.
C. Policies
1. All initial or new claims and the following cases for adjustment shall be filed online through the member’s or employer’s My.SSS account:
a. Member is qualified as solo parent;
b. Correction of type of claim:
1. From normal to cesarean delivery; or
2. From miscarriage to ectopic pregnancy with operation;
c. SS computation is higher than employer’s computation;
d. Additional posted contributions will increase the amount of maternity benefit;
e. Correction of approved number of days from 60 (normal delivery) or 78 (caesarean section delivery) days to 105 days; and
f. Allocated leave credits not used due to separation from employment of the child’s father or qualified alternate caregiver.
2. Filing of MBA/MBRA over the counter (OTC) or through drop box at any SSS Branch Office (BO)/Foreign Representative Office (FRO)/Medical Evaluation Center (MEC) shall be allowed until the implementation of the mandatory online filing. However, simultaneous filing of MBA/MBRA through OTC/drop box and online through the My.SSS portal is strictly prohibited.
3. The filer shall upload the required supporting documents corresponding to the type of claim being filed to proceed with the submission of the MBA/MBRA. Uploaded documents shall be reviewed by SSS.
4. The receipt of the advance payment shall be confirmed/certified by the employee within seven working days from the date of sending of e-mail by SSS. In case member confirms that she did not receive the advance payment or failed to act within the prescribed period, the MBRA shall be rejected. Rejected claims shall be re-submitted/re-filed by the employer as a new transaction.
5. Confirmation/certification of receipt of advance payment by the employee for the MBRA filed by her employer shall be submitted through any of the following channels:
a. Link provided in the e-mail notification sent by SSS; or
b. Employee’s My.SSS account.
6. Confirmation/certification of employees shall not be required for claims tagged as (a) separated, (b) absence without official leave (AWOL) and (c) deceased member.
7. The filing date of the claim shall be as follows:
a. For MBA - the date of successful submission of the claim; and
b. For MBRA - the date of confirmation/certification of the employee or the date of successful submission of the claim if the employee is already separated/AWOL or deceased.
8. A claim which has been previously submitted but is not acceptable based on SSS evaluation may be re-filed online by the member/employer upon compliance with the SSS requirements as a new transaction.
9. An e-mail notification shall be sent to the member/employer for the following cases:
a. For MBA:
i. Successful submission through the member’s My.SSS account; and
ii. Approval/rejection/denial of the MBA.
b. For MBRA:
i. Successful submission through the employer’s My.SSS account;
ii. Successful submission of the confirmation of the employee;
iii. Reminder to employer;
iv. Failure to confirm the receipt of advance payment by the employee; and
v. Approval/rejection/denial of the MBRA.
10. The following maternity claims exempted from online filing shall be submitted OTC or through drop box at any SSS BO/FRO:
a. Denied claim reconsidered for payment;
b. Unclaimed benefit of deceased member; and
c. Unclaimed reimbursement of inactive/closed/terminated/retired employer.
D. Implementation dates
1. May 31, 2021 - Member and employer may file the MBA/MBRA through any of the following channels:
a. OTC or through drop box at any SSS BO/FRO/MEC; or
b. Online through the My.SSS portal.
2. Aug. 31, 2021 - Last day of the option to file the MBA/MBRA through OTC/drop box at any SSS BO/FRO/MEC.
3. Sept. 1, 2021 - Start of the mandatory online filing of MBA/MBRA.
Please be guided accordingly.
Source:
P&A Grant Thornton
Certified Public Accountants
As published in SunStar Cebu, dated 13 May 2021