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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.
P&A Grant Thornton scholars top CPA exams
Top-ranked: Emmanuel Jerusalem (from left), Christian Dominic Amoncio and Ron Niño Loon.
THE pandemic may have stalled many of their plans, but it did not deter three of P&A Grant Thornton’s scholars from pursuing their dreams of being Certified Public Accountants (CPAs).
The firm’s scholars Emmanuel Jerusalem of Bicol, Christian Dominic Amoncio of Davao, and Ron Niño Loon of Cebu placed sixth, seventh, and ninth, respectively, in the CPA Licensure Examination (CPALE) held last May.
Part of its continuing support for accounting and audit professionals in the country, P&A Grant Thornton provided scholarship grants to the three CPA topnotchers. Under its “Go Beyond” campaign, P&A not only aids clients transcend industry standards through its audit and assurance, tax and compliance, advisory, as well as outsourcing and managed services; it also helps open new avenues for the growth of its people, which have grown to a thousand-strong, with 24 partners across its nationwide network.
The newly minted CPAs joined P&A Grant Thornton, one of the leading audit, tax, advisory and outsourcing firms in the country, as tax and audit associates across its different provincial offices. Amid an abundance of offers from other firms and private companies, they have chosen P&A mainly for the corporate culture they saw and feedback from peers.
“I’ve seen this culture at work as early as my student days. University partnerships show P&A Grant Thornton cares about students and their future in the industry,” relates Loon, who aspires to build an emergency fund, travel to various places, and expand his mother’s house from his own earnings. “Experience-wise, I know I’ll learn a lot from the firm.”
Behind their successful trek to the Top 10 of the CPA board exams, the three scholars each had to contend with their own personal struggles that almost scuttled the pursuit of their dreams.
Loon, for instance, postponed full-time studying for the CPA exams to work online as a financial-planning assistant.
“When you think of financial difficulties and just the overall pressure to perform well, the pandemic really had a strong effect on mental health,” said Loon, magna cum laude graduate of accountancy from University of San Carlos, who was solely supported by his mother.
This was also true in the case of Jerusalem who had to earn his keep as an online tutor after his father stopped working as a vendor due to quarantine restrictions.
For Amoncio, mental exhaustion creeped in after the exam got canceled twice in October 2020 and May 2021, as cancellation rumors started swirling again in late 2021 due to rising Covid-19 cases in the country.
“Being self-motivated personally helped me get through the challenges of [the pandemic by becoming] more productive and effective in my review and work,” said Amoncio, a summa cum laude from Ateneo de Davao University.
As auditors, “it’s crucial that we are able to adapt to new situations, like what recent lockdowns taught us,” Loon added.
It’s not just disruptions in health and mobility that the board topnotchers are anticipating in the field: In the age of automation, they also recognize technological disruptions and potential threats that artificial intelligence (AI), as well as other forms of digitization, pose to the profession.
For Jerusalem, a cum laude graduate of Bicol University in Daraga, Albay, the automation of mundane tasks and repetitive actions in accountancy is already well underway. Still, “accountants offer the ability to make informed decisions, which AI cannot,” he said.
Auditors remain relevant, as a person cannot fully automate problem solving and critical thinking, more so in ways they lend credibility and integrity to the financial reports of companies and organizations, said Amoncio, who highlighted the current need for ethical human pros in the industry amid robotic and digital tools, as well as processes.
In the coming years P&A Grant Thornton expects demand for digitalization from its clients to exponentially grow. This is where the three newly minted CPAs and board topnotchers can play a big role.
“By going beyond number crunching, we add more value to our clients’ businesses and become a force for social good,” said Jess Obana, senior managing consultant of the firm’s Advisory Services Division.
The national passing rate in the May 2022 exam was at 22.29 percent: a 7.01-percentage-point increase from October 2021’s 15.28 percent.
As published BusinessMirror, dated 02 July 2022