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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.
Engagement beyond the boardroom
24 May 2018Stakeholder demands are changing, so how can business respond in the most efficient and effective way?
Todays Boards are under increasing pressure from regulators and customers alike to engage more broadly with stakeholders and build their views and expectations into the strategy and management of the business. They’re also facing growing calls to increase boardroom diversity, not only through more women and people from under-represented groups, but also by broadening the range of expertise and perspectives within the leadership team.
Key considerations to respond changing stakeholder demands
Tackling the growing governance challenges can be difficult for all businesses. Yet, it can be especially problematic for dynamic mid-size enterprises, which often lack the board-level diversity, developed governance structures and stakeholder engagement mechanisms of their larger and more established counterparts. And while these enterprises may be adept at capitalising on disruption and change, they may be less clear about how to manage the inherent risks of growing at speed.
There is no one-size-fits-all blueprint – the stakeholder expectations and the forces shaping them vary from business to business and market to market. Nonetheless, there are key considerations that all businesses should address.
Fit for the future
Addressing the challenges is likely to require a broader-based and more proactive approach to governance and decision making. Yet, if there are challenges, there are also benefits. Keeping your ear closer to the ground can improve your ability to stay ahead of market disruption and fast-shifting customer expectations. In turn, more diverse boards improve performance and value creation by bringing in broader and more original perspectives on the one side and helping to curb the risks of complacency and ‘group think’ on the other.[i] And making sure your governance is equipped for the new market realities will not only strengthen your commercial and employer brand, but also help you to steer clear of reputationally damaging surprises and be in a better position to manage and mitigate them if they do break out. Ultimately, businesses prosper within communities that are themselves prospering.
Views of wider stakeholders
Stakeholders worldwide are demanding a greater say in the direction of the businesses that impact on their lives and livelihoods, be this as employees, customers, suppliers, investors or citizens within the community in which the company operates. With a further push coming from politicians like Mr Ramaphosa or Prime Minister Theresa May in the UK, businesses are also under increasing pressure to align their interests with those of society as a whole.
But how are businesses responding? We asked the 2,500 executives from 35 economies taking part in the Grant Thornton International Business Report (IBR) survey if they actively seek out the views of wider stakeholders. Given the pressure, it’s surprising that more than third of participants are not seeking out the views of wider stakeholders. In the EU, it’s nearly half.
Risks of insufficient stakeholder engagement
The immediate risks of insufficient stakeholder engagement include being caught unawares by reputational crises or business failures. If you’re a fast-growing business, you might assume that you have the future on your side. Yet it’s easy to lose sight of the regulatory and reputational risks that can be thrown up by rapid expansion. Our IBR research shows that dynamic midmarket businesses primarily focus on value and market share, rather than regulation. A structured approach to governance and risk is vital in meeting stakeholder expectations and sustaining your licence to operate.
Are you prepared?
Organisations are held accountable for accuracy and integrity in their business operations and they must have effective and reliable governance and compliance procedures in place. Additionally, they must understand and manage risk and seek an appropriate balance between risk and opportunities.
Download the full report for further insights into engagement beyond the boardroom [ 2491 kb ]. Grant Thornton member firms work with boards and executive teams to ensure your business is fit for purpose to meet your future ambitions. If you would like to discuss any of the issues raised in this report, please feel free to get in touch with one of the contacts listed or your local Grant Thornton member firm.
[i] Source: The value of diversity, September 2015 and Women in Business 2018
