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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.
Tax Notes: Advisory for drinking-water service providers
16 Aug 2017RECOGNIZING the role that clean drinking water plays in individual health and a country’s overall economic wealth, the World Health Organization (WHO) introduced the concept of the water safety plan (WSP) in the Philippines in 2006. The WSP, according to WHO, is the most effective means of maintaining a safe supply of drinking water for the citizenry. The plan analyzes the risks of contamination, from the water source to the consumer.
A key milestone of the project was the Department of Health’s (DOH) administrative order requiring all drinking-water service providers to develop and implement water safety plans, issued in 2014. This was supplemented by Administrative Order (AO) 2017-006 last April 20, which set the guidelines for the review and approval of WSP, specifically, the creation of review committees at the National, Regional, and Local levels, as well as the authorization of DOH Regional Offices and Deputized Agencies to fast track the approval of WSP at all the levels.
As one of the deputized agencies tasked to review the WSPs of the drinking water service providers in the economic zones in its jurisdiction, the Philippine Economic Zone Authority (Peza) issued Memorandum Circular 2017-018 to ensure compliance of ecozone location enterprises and developers.
The circular reiterated the review process which, as prescribed by the AO, shall cover the following:
Stage 1: Submission of WSP
a. All applications for WSP Review shall be submitted to appropriate DOH authorized office or deputized agency. (Economic zone developers and enterprises will submit the WSP to Peza for assessment.)
b. There shall be a review fee per application by such amount as existing law prescribed or in accordance with their respective guidelines.
Stage 2: Screening of WSP application
a. The Secretariat shall review the contents of the submitted WSP using a DOH prescribed form.
b. Incomplete WSP shall be returned to the applicant.
c. Only complete WSP shall be forwarded to the WSP Review committee.
Stage 3: Evaluation of the Draft WSP
a. The WSP Review Committee shall conduct the review at a maximum of 30 calendar days from the day the application is filed.
b. The draft WSP shall be evaluated according to its acceptability and the overall passing rate for WSP Acceptance is 60 percent, with no individual score below 60 percent in any WSP Sections/Steps.
Stage 4: Approval of the Draft WSP
a. The head of the deputized agency shall endorse the result of the review to DOH or DOH authorized office for approval.
b. A Certificate of WSP Acceptance issued by DOH Secretary or its Authorized Representative for any approved WSP shall be valid for three years from the day of issuance.
c. The drinking-water service provider shall apply for renewal of certificate of acceptance and shall pay corresponding fees covering three ears in DOH authorized offices or deputized agencies.
d. Application for renewal shall be filed three months before the expiration date.
The deadline for developing water safety plans by drinking-water service providers was extended by a year from its original cutoff of Aug. 4, 2017 in a subsequent amendment to Administrative Order 2014 -0027 dated July 26, 2017. Failure to renew a Certificate of WSP Acceptance shall be considered a violation of such rules and regulations and may be punished by imprisonment for six months or a fine not exceeding P1,000 or both depending upon discretion of the court.
Source: P&A Grant Thornton
As published in Sunstar Cebu dated 16 August 2017.