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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.
A timely tribute to International Women’s Day today is the Women in Business research showing that the Philippines remains third in the list of countries with the highest number of women executives in mid-size companies. The report, released last week, is the result of Grant Thornton International Ltd.’s latest survey among senior leaders from 5,000 businesses across 29 economies.
But the research by the global consultancy firm also indicated that the number of women in senior management positions in the country has dipped from 48 percent in 2021 to 39 percent in 2022. And there’s the rub. While the Philippines has made tremendous progress when it comes to the role and status of women, global studies have painted an ambivalent picture of contradictions breaking the momentum that would have propelled Filipino women further.
Take the 2021 Global Gender Gap Report of the World Economic Forum where the Philippines ranks second in the Asia-Pacific, next only to New Zealand, and 17th overall among 156 countries, when it comes to four indicators: economic participation, political empowerment, health and survival, and educational attainment.
At the same time, the report noted that less than half of women in the country are in the job market, and are paid 22 percent less than men in performing the same job, leading to a significant 31 percent income gap between them.
The gender gap in politics remains as well, despite the country having had two female heads of state in the past 35 years. According to the Philippine Commission on Women (PCW), from 1998 to 2016, the percentage of women elected into public office ranged from 16.1 percent to 21.44 percent, reaching its peak in the 2016 elections. In the 2019 national and local elections, only 20.16 percent (8,782) of the candidates were female.
The existing gender biases that see women as less qualified for politics can explain this, the PCW cited. Gender stereotypes bolstered by popular media’s image of women as stay-at-home housewives have contributed to women being regarded as weak, emotional, and indecisive—qualities that are undesirable in negotiation and decision-making. Such perception—publicly articulated by authoritarian President Marcos in 1985 when opposition figure Cory Aquino dared run against him in the snap elections—has discouraged voters from choosing women at the polls. Admittedly, most women are themselves hesitant to run at the thought of shouldering a “multiple burden,” that is, bearing most of the domestic responsibility at home while engaging in political, economic, and social activities.
Then there’s the huge election expense involved, with campaign donors and political parties expressing a preference for male candidates perceived to have higher probabilities of winning. The difficulty of raising sufficient resources for costly electoral campaigns has hindered women from running, the PCW noted.
But why elect more of them when some women officials have not proven different from their male colleagues? That may be true, but so is the opposite: women have shown themselves as capable in leadership roles, as in the cases of the former female chiefs of the Commission on Audit, the Ombudsman, and the Bureau of Internal Revenue. Women, who are less inclined to vices, have often shown themselves to be less prone to corruption and temptation. Among civil society groups, channeling assistance to poor families through women has proven to be more effective in ensuring that the money goes directly to the children’s schooling, medication, and household needs instead of being diverted to unsavory expenses.
According to UN Women, there is also strong evidence that as more women are elected to office, there is a corollary increase in policymaking that emphasizes quality of life and reflects the priorities of families, women, and ethnic and racial minorities. Because while male officials are adept at crafting laws, they cannot always represent the interests of women considering their differentiated needs, issues, socialization, and experiences. The level of literacy among Filipino women which is higher than men’s—98.24 percent versus 98.12 percent—also begs the question: why ignore and waste the potential contribution of half the country’s population to favor outdated beliefs that stop us from moving forward?
All over the world, there is growing recognition of the untapped capacity and talents of women and women’s leadership, according to the global advocacy group Women Deliver. Over the last two decades, women’s representation in national parliaments globally has increased from 11.8 percent in 1998 to 17.8 percent in 2008, and 23.5 percent in 2018, with dramatic increases in Sub-Saharan Africa and the Arab States region.
Locally, a little more push for women leaders won’t hurt. As former president of Chile, Michelle Bachelet puts it, “When one woman is a leader, it changes her. When more women are leaders, it changes politics and policies.”
As published in Philippine Daily Inquirer, dated 08 March 2022