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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
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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 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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Mid-sized businesses show ‘reserved’ optimism
31 Jan 2021Mid-sized businesses are displaying reserved optimism on economic recovery, according to the latest Grant Thornton’s International Business Report covering the second half of 2020.
P&A Grant Thornton CEO Marivic Españo
In the Philippines, economic optimism among mid-market businesses decreased over the past six months, with the research finding that 49 percent of businesses have a slightly optimistic economic outlook over the next 12 months.
“The latest IBR data demonstrates to us that mid-market business leaders globally are being very realistic about the challenges that the first half of 2021 will bring, but they are facing this uncertainty with sensible pragmatism and resilience,” said P&A Grant Thornton CEO Marivic Españo.
The report gathered responses from nearly 5,000 business leaders in 29 economies including the G20.
Other key indicators showed soft declines with 43 percent of businesses expecting revenues to increase over the next 12 months, from 45 percent in the first half of 2020 along with profitability at 47 percent from 50 percent. On the other hand, employment increased by 51 percent, up 6 percentage points from the first half of 2020.
The report noted that economic uncertainty remains at elevated levels, with 53 percent of businesses in the Philippines citing this as the number one constraint on their ability to grow their business.
As optimism decreased, 56 percent of surveyed cited shortage of orders as a constraint while 50 percent of businesses were concerned about availability of skilled staff and labor costs as another constraint on their ability to grow.
The study found out that the top investment area is research and development, with 51 percent of businesses expecting to increase investments in the coming year; followed by staff skills at 50 percent; and technology at 47 percent as businesses continue to retool for the new way of operating businesses.
With second and third waves of COVID-19 hitting many markets, the study noted the need to invest in product portfolio improvements. Digital business models and having people with the skills to operate in a virtual world for the foreseeable future were seen to drive investment decisions.
Traditional investment categories are again gaining traction. The percentage of mid-market companies looking to increase investment in new buildings decreased 4 percentage points to 39 percent, while the percentage of mid-market companies looking to increase investment in plant and machinery increased 4 percentage points to 46 percent.
Shortage of finance remains a significant concern for businesses, with 47 percent of firms agreeing that financing companies will be constrained over the next 12 months. This is despite record monetary easing and fiscal support provided by the government to businesses in the country as they attempt to alleviate cash flow constraints arising from COVID-19.
In preparation for recovery, mid-market companies around the globe are prioritizing the ‘use of technology to support organizational recovery’ and looking at ‘workplace safety and new workplace regulatory requirements’—with 39 percent of global companies planning or implementing strategies in these areas.
“Even with vaccines being rolled out in some markets, the reality is, it will still be some time before we return to anything approaching normality. Many businesses have already made transformational changes to their operating models and investments in this area, and this show no sign of abating as everyone looks to ensure they are able to compete in a post-COVID world,” Españo said.
As published in Manila Standard, dated 31 January 2021