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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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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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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
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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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.
Philippines biz execs have most optimistic outlook in SEAsia
29 Jan 2019MANILA, Philippines — Business executives in the Philippines have the most optimistic outlook on the economy in the Southeast Asian region this year, the latest survey of Grant Thornton showed.
Grant Thornton’s International Business Report (IBR) showed optimism in the Philippine economy for this year was at net 66 percent, the highest in Southeast Asia.
This was followed by Indonesia at net 61 percent, and Vietnam and Malaysia both on the third spot at net 38 percent.
The report showed two-thirds of business executives surveyed in the Philippines are very optimistic about the local economy as they expect to generate more revenues, charge more for their products, and hire more employees.
In particular, 70 percent of business leaders in the Philippines expect revenues to rise this year.
Of the total respondents in the Philippines, 66 percent expect to increase the selling prices of their products and services, while more than half or 52 percent are planning to increase their exports.
The report also showed that 62 percent are looking to employ more people this year, while 65 percent would want to increase the salaries of their employees over the next 12 months.
Even as the general outlook for the Philippine economy remains very optimistic, the report showed businesses consider financial constraints as a significant external barrier to expanding overseas.
Grant Thornton gathered responses from 5,000 business leaders in 35 countries including the G20 for the report.
Globally, economic uncertainty has been identified by the business leaders as the biggest risk this year.
“While global financial markets are increasingly volatile, business leaders in the real economy remain optimistic because global GDP (gross domestic product) is forecast to continue growing and they know their business will grow with it. Despite increasing down side risk, economic fundamentals remain strong and opportunities exist,” Francesca Lagerberg, global leader at Grant Thornton International said.
While times of economic uncertainty has resulted in companies reducing or putting on hold investments traditionally, now is a time when investing in capabilities and infrastructure can pay dividends and so, when the economy turns, businesses can react with speed to take advantage.
“As the economic cycle cools, it’s clear that business globally won’t have it as good as they did in 2018. However, with the IMF (International Monetary Fund) predicting global economic growth of 3.7 percent, predictions of a recession are the exception rather than the rule. What we are seeing is a return to normality with more balanced and sustainable growth for economies,” Lagerberg said.
P&A Grant Thornton chairperson and chief executive officer Marivic Españo said a downturn is not seen on the horizon.
“Sentiment has more likely decreased owing to slower trend growth, subdued inflation and low macro volatility—a so-called ‘normalizing’ of the global economy,” she said.
As published in The Philippine Star, dated 28 January 2019