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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 future of corporate reporting
16 Jul 2014Find time for those closest to you
I spend a lot of time outside of work with friends and colleagues; going out, playing or watching sport, going to the cinema. But do I spend as much quality time as I should with my family? If you ask my Mum, she will say no.
The same accusation could be thrown at many companies: they spend a lot of time with customers and potential targets – the people they want to use their products in exchange for their cash. But stop and think for a second about how companies interact with their providers of finance – those investors that companies go to rarely, asking them to maintain belief in the business and the company’s management, and asking them for money in exchange for a share of ownership or a loan repayment arrangement. Do companies spend enough quality time with their providers of finance?
Think pages
Grant Thornton research of the UK FTSE 350 market shows that the average annual report now stands at over 500 or approximately 300,000 words. Typically, about half that information is historical financial data. The rest is generally a corporate governance statement, a CSR statement, notes from the Chairman and various Board committees, and a description of how the company’s business segments have performed.
Historical financial data is an absolute bedrock, a cornerstone, fundamental. But it is not enough, not on its own. And standalone statements about a company’s commitment to social responsibility convey the impression that societal contribution is an afterthought, rather than embedded within corporate values and daily decision making processes. Large UK companies provide shareholders with limited information on risk management and internal control, while only 27% of the FTSE 350 provide real insight into how they review the effectiveness of their systems of internal control. The vast majority fail to demonstrate the link between their business model, future plans, strategy to implement those plans, and key risks.
Reporting data in distinct sections of the annual report conveys the impression that the company is run in silos (whether it is or not). It would be much better to apply the principles of Integrated Reporting for internal and external reporting purposes, which will, in turn, better inform the decision making process.
Show you care
Some company information changes from year to year but some – called standing information – does not. It should remain accessible for reference by those providers of finance who value it and publicly available for people who are new to your company, but most investors do not need to see this every year. High value or periodic information should not become lost in standing information.
And one size does not fit all. Providing one bank of data effectively says to your providers of finance: here is the data I am giving you, now get on with it. It is not an impression you would want to leave with your customers, so treat your providers of finance with the same respect. The irony of damaging your valuable corporate reputation through the very channel that seeks to enhance that reputation should not be lost on any CEO. Consider providing this information at three levels: high level messages for all and full granular data for those who want to drill right down, and a third level somewhere in the middle.
It’s good to listen
My best customer experiences come when companies go out of their way to help; they deal with requests or complaints in a prompt, respectful manner. This is not my experience of corporate reporting however. Often the company talks a lot but does very little listening to its providers of finance. There is at times a real risk that companies and their providers of finance are talking past each other, which is unhealthy for both parties.
The idea of shareholder stewardship – the notion that shareholders engage in dialogue with management about the issues that are important to them – is gaining traction across Europe. If that dialogue is to be rich in content, foster mutual understanding, and ultimately help the capital markets become more efficient then the willingness on the part of shareholders to engage must be matched by the company’s commitment to transparent and high quality communications to form the basis of that dialogue.
Your corporate reporting is a reflection of your company. Give more thought to what you say publicly about your company, and how you say it. Show your providers of finance that you care. It is likely to improve your corporate relationships. And find a little more time for your family. Next time we go to visit my Mum I’ll see if I can turn the usual lunch into a full weekend.
Nick Jeffrey is a director of public policy at Grant Thornton.