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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.
Number of women execs rise
Pandemic-linked shifts in work practices have catapulted women to senior management positions, the Grant Thornton’s 2023 Women in Business (WIB) Report said.
This year’s WIB report shows nearly half or 49 percent of senior management roles are held by women, notches higher than 39 percent recorded in the 2022 report.
This is also way above the global average of 32.4 percent.
Majority of respondents shared the corporate positions held by women within their organizations include chief finance officer and human resources director. Nearly half or 42 percent of firms interviewed also said their sales directors are women.
Pandemic-related shifts in organizations’ work models were seen to have been beneficial for women leaders. More than half of mid-market firms surveyed said that their organizations have been utilizing a hybrid work model post-COVID, with 52 percent agreeing that their current work framework will help ensure visibility for more women staff.
“During the pandemic, we have seen the versatility of women in a phenomenon that experts called the ‘double shift’, where female staff juggled office work alongside their essential roles at home. It is interesting to see that more businesses are making significant changes to their organizational policies as they recover and adapt to the demands of the post-pandemic normal,” said Marivic Españo, P&A Grant Thornton chairperson and chief executive officer.
“But as we can see from the results of our WIB, progress in narrowing the gender disparity has been, for the longest time, just an offshoot effect of solutions to other workplace issues. The time is ripe to adopt strategies focused and dedicated solely to bridging the gender gap still present today,” Españo said.
The report tallied results of a survey of more than 100 mid-market companies in the Philippines across various industries.
While progress on the overall number of women in senior leadership in the Philippines continues, Grant Thornton’s latest research reveals that global progress has been slow, with the number of senior management positions in mid-market businesses held by women increasing only half a percentage point to 32.4 percent, and 13 percentage points since the research was first undertaken in 2003.
Karitha Ericson, global leader of network capability and culture at Grant Thornton International Ltd., said unless businesses develop cultures that empower people through flexible ways of working and take additional steps to support women into senior leadership positions, only 34 percent of senior leadership positions in mid-market businesses globally will be held by women in 2025.
“Businesses must take intentional actions to accelerate progress and strive for 40 percent of senior leadership roles to be held by women by 2025, so that they can reap the benefits of greater diversity,” Ericson said in a statement, pertaining to the global initiative to increase the proportion of women in senior leadership roles.
To more effectively address the global gender gap, Grant Thornton is making stronger global calls for mid-market businesses to push for gender parity and understands that intentional action from businesses is needed to accelerate progress.
The Grant Thornton report identifies factors which will support this acceleration. Firstly, women now hold a great number of senior management positions. This trend is likely to lead to new diversity strategies focused on increasing diversity at the senior management level and pushing more businesses towards gender parity.
Secondly, external pressures around Environmental, Social and Governance (ESG) policies demand the creation of new strategies, including a determined push towards more women in senior leadership. The establishment of global ESG standards and regulations is putting pressure on firms to form diverse leadership teams.
The most significant boost toward achieving gender parity could come from a continued commitment by businesses to provide increased flexible working. The IBR research also found that businesses which offer flexible, hybrid and home-based models have the highest levels of women in senior leadership roles.
In businesses that have adopted a hybrid way of working, 34 percent of senior leaders are women, while in businesses that are fully flexible where staff choose how they work, it is 36 percent. Meanwhile, only 29 percent of senior management roles is held by females in businesses with predominantly office-based models.
As published in Malaya Business Insight, dated 08 March 2023