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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
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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
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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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Business optimism in Philippine among top 10 globally
15 Jan 2020Despite huge drop in 2nd semester
MANILA, Philippines — Business optimism in the Philippines dropped 17 percentage points in the second half of last year, but the country remains one of the 10 most optimistic worldwide, according to a report by Grant Thornton.
Grant Thornton’s International Business Report, which surveyed 105 mid-sized Philippine companies, showed the level of optimism in the economy declined to 67 percent in the second half of last year compared to 84 percent in the first half.
The drop was attributed to lower revenue and profit expectations, export slowdown and reduced investment and employment outlook.
This low level of optimism was last seen in the first quarter of 2016.
Despite the drop in business optimism, the Philippines was remained among the 10 most optimistic economies covered by the report.
Apart from the Philippines, other economies with the highest optimism from businesses are Vietnam (82 percent), Indonesia (78 percent) United
Arab Emirates (77 percent), China (74 percent), US (73 percent), Brazil (69 percent), India (69 percent), Greece (68 percent) and Mexico (67 percent).
Based on revenue and profitability outlook, the report showed a decline in the percentage of Philippine firms expecting growth over the next 12 months.
In particular, 68 percent expect their revenue to increase, down slightly from 70 percent in the first half a year earlier.
Meanwhile, 71 percent see their profitability growing over the next 12 months, lower than 80 percent in the first half last year.
Of the surveyed firms, 57 percent registered more than five percent increase in revenue in the last 12 months.
The survey also showed 44 percent of the mid-market companies in the Philippines expect their exports to increase, lower than the 59 percent in the first half last year.
In terms of investment intentions, 53 percent intend to invest in new buildings, down from 59 percent in the first half last year, while 59 percent plan to spend for plant and machinery, lower than 68 percent in the first half a year ago.
The survey showed 68 percent of Philippine businesses want to invest in research and development, up from 66 percent in the first half last year, while 67 percent expect to increase employment, lower than the 70 percent in the first half a year ago.
While firms are still looking to expand and invest, concerns remain on shortage of orders.
When asked about the biggest constraints to domestic growth and expansion, 40 percent of Filipino mid-sized firms cited reduced demand for their products and service.
In addition, 27 percent of Filipino mid-sized companies said financial constraints were a barrier to expanding their business internationally, while others cited rule of law and corruption (26 percent) and tax codes and compliance (25 percent) as barriers.
Commenting on the survey results, P&A Grant Thornton chairperson and chief executive officer Ma. Victoria Españo said the latest figures show the global slowdown in economic growth.
“On a positive note, mid-sized firms in the Philippines remain very much optimistic about their expansion,” she said.
As published in The Philippine Star, dated 15 January 2020