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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 people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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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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Behind the Numbers: People of P&A Grant Thornton
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PH biz leaders 2nd most optimistic
12 Apr 2017Optimism of business leaders in the Philippines rose to a record level in the first quarter, placing them the second most optimistic in the world next only to Indonesia.
The Grant Thornton International Business Report (IBR) shows optimism in the Philippines rose to 98 percent, up 18 percentage points from 80 percent in the fourth quarter in 2016 and the highest level since the report was released in 2003.
The findings of the recent quarterly survey covered 2,400 businesses in 36 economies reflect overall global sentiments.
“Brighter prospects for 2017 have replaced the tough times of recent years, during which optimism sank to a four-year low of 20 percent in the third quarter of 2015. Globally, the research finds that business optimism is at its highest level on record at 49 percent.
Philippine business’ general sentiment is reflected in their expectations on revenues, profits and investments.
A great majority, 76 percent, expect revenues to be higher compared to just 58 percent in the previous quarter. A greater proportion of 84 percent expect higher profits from 72 percent in the fourth quarter.
Half of the respondents are investing in new buildings from just 36 percent in the previous quarter while 56 percent are investing in plant and equipment, slightly above the previous quarter’s 54 percent.
Business leaders across the Asia Pacific region are at their most confident in nearly two years, with optimism rising from 30 percent to 39 percent in the last three months alone.
The IBR reveals both the emerging and developed Asia-Pacific economies are feeling more positive about the future.
In the first quarter, business optimism has risen among emerging economies by 4 percentage points to 57 percent and among developed economies by 16 percentage points to zero.
However, although optimism in developed Asia-Pacific economies has entered neutral territory for the first time in over a year, the findings show business fundamentals are moving in the opposite direction. Expectations for revenue and profitability have dropped from 40 percent to 30 percent, and from 23 percent to 15 percent, respectively.
Meanwhile, the number of firms expecting to invest in plant and machinery has fallen 10 percentage points to 13 percent.
By comparison, the emerging Asia-Pacific economies are expecting both revenue and profitability to rise, from 51 percent to 55 percent, and 39 percent to 42 percent, respectively. They also anticipate more investment in plant and machinery, up 5 percentage points to 28 percent.
“We’ve witnessed a split between the developed and emerging Asia-Pacific regions for some time now, so it’s encouraging to see the region’s developed economies experience a positive swing in the pendulum. With confirmation of a US withdrawal from the Trans-Pacific Partnership, at least businesses can now begin to manage the fall-out. Many will be looking to see how trade relations with the US pan out in future and, in the meantime, the corridor to China for exports looks positive as its economy continues to recover,” said Marivic Espano, chairperson and chief executive officer of P&A Grant Thornton.
As published in Malaya, dated on 12 April 2017