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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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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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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
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Diversity
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In the community
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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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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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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.
Chile is the world's second most dynamic economy
01 Nov 2013Local environment continues to improve for growing businesses
There was some great news for Chile in the latest edition of the Grant Thornton Global Dynamism Index (GDI): we ranked second out of 60 economies, behind only Australia. So what do the results mean?
The GDI assesses and ranks the dynamism of economies around the world. So last year, the index suggests that Chile’s business growth environment improved more than any other emerging economy. And every advanced economy bar one.
Chile normally scores relatively well in these types of rankings – 12 in the Emerging markets opportunity index, 34 in the World Competiveness Report and 37 in the World Bank Doing business index. We ranked 11 in GDI 2012 – what’s driven the improvement this year?
The GDI splits dynamism into five areas. Two of these – economics & growth and labour & human capital – naturally favour emerging economies. Chile does well in each, ranking 11 and 8 respectively. However, the economy also ranks high on two more stable areas, which take longer to develop: financing environment (3) and business operating environment (17). In fact, Chile is the top ranked emerging economy in each area.
It is an incredible achievement and speaks to the continuing development of the economy in terms of rules and regulations, political and institutional stability, the ease of doing business and access to finance. Entry into the OECD (Organisation for economic cooperation and development) – which requires economies to meet standards in a wide range of policy areas – in 2010, confirms the amount of progress that has been made over the past two decades.
So is this translating into business investment? Well, we were the 11th largest recipient of FDI in the world in 2012. Over US$30bn flowed into the economy. Up from US$23bn in 2011. These inflows will help build capacity and support growth which is expected to remain at around the 5% mark in the short to medium-term.
The slowdown in China is a key risk of course. It accounts for 24% of our exports and the drive to move the economy away from investment towards consumption could have knock-on effects on demand for our commodities. If the price of copper subsequently fell this would be a major problem. Chile is the largest exporter of the metal in the world. It accounts for approximately 60% of exports, 15% of GDP and 20% of government revenue.
Rising copper prices over the past decade have supported economic growth. But production has barely moved. Interestingly, science & technology (38) is the one area of the GDI that Chile ranks below average on. It would be good to see some business investment channelled into R&D to boost productivity.
Together with further diversification into services, this would support sustainable growth in Chile, allowing us to build on the dynamism of our business growth environment.
Jaime Goñi is Managing partner of Grant Thornton Chile.