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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.
Building pathways for change
AT A GLANCE
- P&A Grant Thornton celebrated its 35th Anniversary with clients and other stakeholders whose loyalty and trust have always fueled the Firm’s insatiable drive to achieve and be more.
- From its humble beginnings as the “little firm that could” with only seven people and two Partners, it has grown to become a formidable presence in the realm of business advisory and as a leader in the ASEAN region which implements global standards and practices.
Marking milestones is easy; making each one count is a feat. And for P&A Grant Thornton, a leading business advisor for scores of dynamic organizations across the country, celebrating its anniversary means so much more than showing appreciation to its clients, its people, and other stakeholders for their unwavering support. It means laying the groundwork to achieve more in the vibrant years ahead.
P&A Grant Thornton Founder Ben Punongbayan and leaders with GT Regional Head for Network Capabilities - Asia Pacific Rodger Flynn and Senator Win Gatchalian.
Last February 15, 2023, P&A Grant Thornton celebrated its 35th Anniversary with clients and other stakeholders whose loyalty and trust have always fueled the Firm’s insatiable drive to achieve and be more.
“2023 marks the 35th Anniversary of Punongbayan & Araullo, now known in the business as P&A Grant Thornton. Turning 35 is an important moment for our firm. Our journey has been marked with huge opportunities, and just like many businesses, several challenges too,” Ms. Marivic Españo, the Firm’s Chairperson and CEO, said in her opening speech. “We are fortunate to reach this point of our history largely because of clients and friends in the business community and profession who have all bestowed their invaluable confidence and continuing support for our Firm and our people.”
It was a night of warm cheer and good tidings, a meaningful homage to the decades-old institution that slowly but surely rose to prominence as a powerhouse where transformational leaders are mentored and trained. It is, after all, the concrete proof of every employee’s hard work and the organization’s relentless pursuit of all things noble and helpful for its clients. “As a leader, my primary responsibility was to transform the organization that was handed to me by our past leaders to become a stronger and more beautiful one,” said Ms. Españo. Indeed, P&A Grant Thornton is a valued member of the profession today.
The Firm’s promise of excellence, integrity, and quality service
P&A Grant Thornton Founders Ben Punongbayan and Joe Araullo share a toast with GT Regional Head for Network Capabilities - Asia Pacific Rodger Flynn.
P&A Grant Thornton was born in 1988, a product of the dream of two visionaries and prominent names in the Philippine accounting profession. Early on, it relied on three core principles that its Founders, Mr. Ben Punongbayan and Mr. Joe Araullo, passed to all staff for them to embody – excellence, integrity, and commitment to provide quality service to its clients.
“We consistently received, annually, very good ratings from clients in our customer satisfaction survey. This great recognition gives us the greatest feeling of all – that we are well-liked by our clients. We are happy and proud to continue to work together with [our clients] in the next 35 years and beyond,” Ben Punongbayan shared during the event.
“From the start, Ben and I planted some characteristics of the Firm that carried us, and which are present even until today. These values were passed on from one
generation of leaders to the next and carried over from one Partner to another – traits that distinguish P&A Grant Thornton leaders and staff and which
make the Firm stand out today,” Joe Araullo quipped during his short, but engaging speech at the Anniversary Celebration.
Indeed, these qualities allow the Firm to shine and power through amidst adversity. From its humble beginnings as the “little firm that could” with only seven people and two Partners, it has grown to become a formidable presence in the realm of business advisory and as a leader in the ASEAN region which implements global standards and practices.
The P&A Grant Thornton promise
P&A Grant Thornton leaders and GT Regional Head for Network Capabilities - Asia Pacific Rodger Flynn share a toast to more vibrant years ahead during the Firm’s 35th Anniversary Celebration in Makati.
The program, held in the regal ballroom of the Fairmont Hotel in Makati, was a success. Aside from celebrating the Firm’s achievements, the Partners also expressed their commitment to shape a more vibrant tomorrow by employing bold perspectives, utilizing divergent thinking, and forging paths with clients, government, non-government organizations, and other stakeholders.
“There is no firm that embraces our culture of collaboration, innovation, and quality service more than P&A Grant Thornton. That is why your anniversary’s theme of Shaping a Vibrant Tomorrow is so fitting, because it is exactly what you have been doing all these years and what we have no doubt you will continue doing in the years ahead,” Mr. Peter Bodin, CEO of Grant Thornton International, said in his message during the event.
The P&A Grant Thornton story: Past, present, future
The Firm’s Partners also articulated their promise to create a place where their people will flourish and eventually become transformational leaders. Ben Punongbayan attributes the success of the Firm to its people. He said, “Over the years, all and every batch of our personnel have responded favorably and determinedly to the great challenge of professional work.”
On the other hand, Ms. Paz Malubay, Partner and Business Process Solutions Practice Leader, narrated, “From the start, we believed that our success depends on our people, in nurturing their growth and development, and in building a relationship of creative collaboration. This is what we call providing a great People Experience.”
The Partners shared the Firm’s commitment to demonstrate its support to sustainability goals, specifically on gender equality, quality education, decent work, good health, and economic growth, and responsible consumption and production. These commitments were wholeheartedly embraced by the next leadership team of the Firm.
To more vibrant years ahead
All in all, the celebration was one for the books which ended with a poignant performance from the Philippine Madrigal Singers. It will be remembered by guests as a night marked by optimism and professional fervor, qualities that the Firm will carry as it continues with its journey. For P&A Grant Thornton, building pathways for change means laying the groundwork for bold and divergent thinking in a business landscape that calls for innovation and transformation. From the Founders to the next generation of leaders of the Firm, which were announced at the end of the program, the Firm remains strongly committed to grow with its clients and its people. This is true evidence that P&A Grant Thornton has been securely established firmly deep in the ground. As Ben Punongbayan said, “Certainly and surely, P&A Grant Thornton will pass the extreme test of time.”
As published in Manila Bulletin, dated 13 March 2023