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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.
Why you need to consider natural capital
11 Mar 2015Businesses need to open their eyes to the benefits of measuring and valuing natural capital
It used to be accepted practice for businesses to treat environmental factors as ‘externalities’, which couldn’t be accurately priced by themselves or the markets.
But times have changed. The concept of sustainability has become firmly embedded and more recently has begun to be framed in terms of ‘natural capital’ – putting a valuation on the environmental resources a business uses. This could be land and how it is used and degraded or replenished, resources extracted from the ground, water or energy.
“Economists used to talk about natural resources as if they were almost infinite,” says Nathan Goode, global leader for energy and cleantech at Grant Thornton. “But it has dawned on businesses that these resources are anything but.”
Goode, who has spent 12 years working on low carbon, renewable energy, waste management and other sustainability projects, adds: “We’re reaching the point where this issue becomes business-critical. Whether you call it resource management, sustainability, natural capital or something else, it is the single biggest issue facing us today and it’s increasingly difficult to avoid.”
High-profile examples of good practice are already emerging. Large global firms in the food and consumer goods and services industries are, understandably, setting the pace. Goode cites SABMiller, Coca-Cola and Unilever among the businesses that have made the biggest strides in this area. He also applauds retailer M&S, which has won acclaim and customer engagement with its 'Plan A' initiative, and The Crown Estate, one of the UK's largest landowners, for whom the concept of natural capital fits well with its principles of stewardship and the long-term nature of the assets it manages.
But size isn’t everything. “Strong progress is also coming from innovative small and medium-sized businesses, which are more responsive to their customers’ environmental concerns, often where they are part of the supply chain for global businesses,” Goode adds. One example is Muntons, a malting business based in Suffolk, UK, which has some major global customers in the food & drink sector. In some sectors, SMEs are already finding that how they respond to the natural capital agenda can significantly affect their long-term value as a business.
Not everyone sees the imperative just yet. Progress is often slower among mid-sized businesses, unless pressure is coming through the supply chain. As a result, many businesses are still taking only tentative steps – running discrete projects and only including sustainable approaches when tackling a problem in their supply chain, rather than adopting a structured approach to natural capital. The piecemeal approach can help businesses cope in the short-term, but the more far-sighted leaders will see this agenda as a strategic choice.
A key challenge for firms, whatever their state of openness to sustainability, is the complexity of managing and delivering an integrated approach. While C-suite leadership is vital, it’s not enough on its own. Moreover, even for mid-sized businesses the big challenges and opportunities lie with their own supply chains. “Practical results are essential for credibility so for many, the incremental approach is the right starting point,” Goode says.
Thinking about these issues in natural capital terms should provide a strategic focal point for businesses. While there is not yet a standard accounting framework for natural capital, progress is being made. The International Integrated Reporting Council has identified natural capital as one of the six ‘capitals’ that businesses should account for, alongside financial, manufactured, intellectual, human, and social and relationship capital. The real challenge will come when the markets consistently recognise natural capital in their business valuations. There are some signs of this starting to happen with the debate around stranded fossil fuel assets, for instance. A natural capital paradigm for capital markets still looks some way in the future but there is plenty of debate about how far away it really is.
There are other incentives: accurately assessing and valuing natural capital allows more intelligent risk-profiling of investments, and future-proofing of the business. It puts use of resources such as water and energy in a broader context, taking account of the finite nature of these resources, factoring in what environmental scientists call ‘planetary limits’. This helps firms to develop strategies to reduce resource dependency and increase self-reliance.
“Some business leaders remain in denial about sustainability,” concludes Goode. “But progress around natural capital valuation is happening. The drive now is to see a significant change in the way natural capital is assessed and measured across the whole economy.”