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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.
Pros and cons of the Expanded Maternity Leave Act
12 Jun 2019THE newly enacted Expanded Maternity Leave Act granting mothers over three months of paid leave should prompt companies to pay close attention to their business continuity plan (BCP), especially if their employees are looking to raise a family soon.
P&A Grant Thornton gave this advice to businesses in light of the implementation of Republic Act 11210 or the Expanded Maternity Leave Act. The law, signed by President Duterte on Feb. 22, 2019, requires all organizations, whether in the public or private sector, to give mothers 105 days of paid maternity leave.
The expanded benefits apply to every case of pregnancy, with employers required to grant it to their female employees regardless of employment status, civil status, mode of delivery and the child’s legitimacy.
‘Dark side’ to longer parental leaves
The Philippines is moving along other countries around the world in legislating longer paid maternity leaves. While the sentiments behind the new policy may be well-meaning, there may be a “dark side” to longer parental leaves, said Mai Sigue-Bisnar, partner in the Audit and Assurance Division of P&A Grant Thornton.
She cited a survey of the Employers Confederation of the Philippines, which revealed that 68 to 70 percent of respondents were concerned with the “higher cost implications” of doing business in the country.
Aside from paid leave and health insurance, these costs include the overtime pay and health costs of colleagues, who shoulder the additional work, along with the professional fees of any project hires. If the mother is difficult to temporarily replace, the workplace effects could be more substantial, the survey shows. Small businesses bear the brunt, as they may lack the human capital or financial resources to shoulder the long-term absence of female employees.
In the long term, extended maternity leaves could also hurt the careers of mothers.
“Evidence from countries that mandate extended maternity leaves reveals that the longer new mothers are away from paid work, the less likely they are to be promoted, move into management or receive a pay raise when their leave ends. The new mothers are also at greater risk of being fired or demoted,” Sigue-Bisnar added, citing research from the Harvard Business Review.
New moms are also perceived as less committed to their jobs than women who take much shorter maternity leaves, she added.
True work-life integration
Just as crucial as companies recovering from the added expense of expanded maternity leaves is genuine support for mothers in the workplace.
The new law contains a provision to protect women against discrimination from employers. But since gender discrimination may be more rampant and entrenched than people think, companies need to “walk the talk” and go beyond compliance and offering the mandated benefits, said Sigue-Bisnar.
Line managers can be particularly supportive to new mothers by championing their career aspirations to counteract negative perceptions among decision-makers and co-workers, she added.
“It’s about truly supporting women at work. It is not simply about providing the required benefits, but thinking of specific programs that could make the integration of work and family life successful for new parents.” (PR)
As published in SunStar Cebu, dated 12 June 2019