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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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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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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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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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Business consulting services
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Forensic advisory
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Cyber advisory
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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
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Payroll Processing
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Optimism in economy remains high in 2018
09 Jan 2018MANILA – In the Philippines, overall optimism among business leaders remains high. New findings from Grant Thornton’s quarterly business survey of 2,500 businesses in 36 economies, the International Business Report (IBR), reveal that the optimism level is placed at an average of 86%, which is higher than the global average of 58%.
The survey also showed that 52% of Filipino business owners are very optimistic about the outlook of the local economy over the next 12 months. Local businesses are seeing an increase in employment and plan to improve salesforce effectiveness, as well as develop and launch new products or services.
Marivic Españo, chairperson and chief executive officer of P&A Grant Thornton, commented: “The results of the survey show that businesses are very confident about the economy. For one, the recent passage of the first tranche of tax reforms is expected to support public spending and investments in infrastructure and social services which, in turn, will create more opportunities for businesses.”
Optimism among business leaders in Asia Pacific has leapt 17pp over the past year to an historic high of 58%. The high levels of confidence are driven particularly by surges in China and Japan, where optimism has risen by 21pp and 29pp, respectively, over the same period. Expectations over revenue (67%) and profitability (47%) have also reached record highs for the region.
Notably, for the first time in nearly three years, Japanese optimism has entered positive territory at 3%—a 17pp rise over just three months. Strong exports are contributing to a more confident outlook, up 11pp to 12% compared to a year ago, and underpin an expanding economy, which is enjoying its seventh consecutive quarter of growth. A revival in exports is taking place across the Asia Pacific region, up 10pp to 22% compared to a year ago, driven by recovering demand for cars and manufacturing equipment, particularly in China, where optimism has reached 78%. Despite the Philippines’ increase in economic uncertainty from 22% to 28%, profitability also increased from 70% last Q3 to 86% in Q4.
Where businesses in other parts of the world are scaling back their investment, those in Asia Pacific are planning to spend more on research and development, up 10pp to 39% compared to a year ago, as well as plant and machinery, up 9pp to 33%. China is particularly focused on these elements of longer-term growth, with 58% of businesses expecting to invest in research and development compared to a global average of 25%.
Españo added: “Confidence has boomed in Asia Pacific, reaching its highest peak in the history of the IBR. While China has experienced growing levels of optimism over the past year or so, Japan’s break into positive territory is a real sign of change in the region. As global trade improves, firms in Japan and China are also thinking about the future and investing in their long-term growth.
This positive business sentiment in the region is an opportunity that Philippines businesses must consider as they plan for their long-term expansion and growth plans outside the Philippines."
As Published in the Mindanao Times, date 09 January 2018.