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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.
Winning at accounting in Business & Life
15 May 2017
MANILA, Philippines - Who was it who said, “If you want an ordered life, marry an accountant”?
An accountant’s work generally follows a certain seasonality, where the first quarter of the year — which is tax season — is the busiest. But it would be a mistake to think that there is nothing left for them to do the rest of the year.
“We do audit, advisory, and outsourcing such as payroll processing and other accounting services for our clients,” says Nelson Dinio of P & A (Punongbayan and Araullo), the Philippine member firm of Grant Thornton International.
Dinio is a partner in the Audit and Assurance Division and heads P&A’s Business Development Group. He also heads the firm’s Japan desk and is the partner-in-charge of the Calabarzon operations.
Whether it’s tax season or not, Dinio strictly follows a daily routine. He wakes up at 4 a.m. and starts work in the quiet of the early hours, answering clients’ email that he received the night before “so the client has a reply ready when they get to the office,” he explains.
He leaves his house in Cavite at 6 a.m. and is at the office in Makati by 7. He gets the more demanding part of his work done during his peak hours in the morning, so what’s left in the afternoon are routine matters. He makes sure his desk is clear when he leaves the office at 4:30 p.m. so he is home in time for dinner with his family at 6. He is in bed by 9 p.m.
He promotes a work-life balance even among his staff: “I tell them, if you do your work for eight hours, there is no need for overtime. If you sleep well for eight hours, when you wake up, your mind is fresh and you will be more efficient.” He is results-oriented, saying, “You have to trust your staff.”
“I recommend a routine that is consistent, because otherwise, it’s just stressful,” Dinio says. He does not believe in making his staff work overtime even during tax season, when fatigue due to lack of sleep can result in costly errors.
“If you have 150 clients, for example, they all have just one deadline for filing their tax return on April 15. In my mind, meeting the deadline is very basic, as well as ensuring the accuracy of the report. There is no room for material error. You can be sued for making a wrong report and it can damage your reputation. That is why it is so important to give the staff proper training. Once the client is satisfied with your service, they will refer you to other clients.”
Dinio graduated with a bachelor’s degree in accounting, magna cum laude, from Holy Angel University in Angeles, Pampanga. He joined P & A as junior staff shortly after he passed the CPA board exams with the third highest overall rating in 1998. He was seconded in the Grant Thornton office in Los Angeles where he spent two years, and obtained his US CPA license in 2005. He received his master’s in management with a clean pass rating for his thesis from AIM.
He was asked to head the Japan desk in charge of the Calabarzon operations after its Japanese director retired in 2012. It was difficult at the start since he did not have a Japanese staff. He now has four Japanese expats on his team. He was able to grow the business from five percent of the firm’s total revenue to 10 percent within the span of four years.
“We started with 90 Japanese clients; now we have 230,”Dinio says. “These are Japanese companies all based in the Philippines.”
They have also given seminars to general managers of companies in Japan — in Tokyo in 2013 and in Osaka in 2015 — “for them to better understand doing business in the Philippines, and so they get to know about us even before they come to start their business here.”
Dinio was the lead partner of the special teams that won the 2015 and 2014 Founder’s Award, the highest form of recognition for team excellence in P & A. He was a support partner when his team won the same award in 2016. In 2009, he received the Primus Award, the highest form of recognition of individual excellence at P & A.
He admits that his first two years at P & A were a struggle: “I was not really planning to take up accounting. I am an entrepreneur at heart. But my father told me that I should have something to fall back on in case my business failed.”
As a young boy in Angeles, he delivered soft drinks to sari-sari stores. He raised quails and supplied quail eggs to balut vendors. He sold banana-cue to factory workers in his neighborhood.
“I sold halo-halo in the summer and arroz caldo during the rainy season,” he relates. “I just wanted to have my own money and not have to rely on my parents.”
These days, it is his wife Chona who is the entrepreneur in the family. Also a CPA, he asked her to quit her job so she could have time to take care of their kids: Hans, 13, and Hannah, seven. A good cook being Kapampangan, Chona started her own small food business, Hannah’s Kitchen, as well as a franchise of the Japanese fast food Samurai in Eastwood.
Dinio attributes his success to the support of his wife. “I think if you are happy, you will be successful. But even if you are successful, you may not necessarily be happy,” he says. “The stress at work will be there, but you need to protect something, which is your time.”
As published in Philippine Star, dated on 15 May 2017