Services
We deliver value-added audit and assurance services to our clients, helping them manage their fiscal responsibilities with prudence and foresight.
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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.
We help you identify the opportunities and pitfalls that can significantly affect your...
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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.
We believe there is an optimal solution to every business challenge.
Using our Firm's breadth and depth of specialized expertise, we work with you to find...
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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.
We provide solid, first-rate support for your key accounting and administrative activities, such as outsourced accounting, payroll, and accounting-related...
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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.
Japan Desk
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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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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
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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.
If you wish to develop your talents to the fullest and build a fulfilling career, join P&A Grant Thornton, where you will be part of a dynamic...
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Fresh Graduates
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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.
If you would like to join Grant Thornton, you may have a few questions about our organisation, how we do business, our culture and our global opportunities....
By ensuring that our clients are matched with professionals most familiar with their industry, P&A Grant Thornton aims to provide a seamless onboarding...
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At P&A Grant Thornton, we’ll work with you to capitalise on all opportunities, manage the inherent risks the industry has to offer, and provide relevant...
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Amendments to the Regulations on the Periodic Review of Trust, Investment Management, and Other Fiduciary Accounts
26 Nov 2024
Background
The Monetary Board in its Resolution No. 1237 dated 25 October 2024 approved the amendments to Appendix 86 of the Manual of Regulations for Banks (MORB) and Appendix Q, 49 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFl) to set the supervisory expectations on the conduct of periodic review of trust, investment management, and other fiduciary accounts.
Amendments
The basic standards in the administration of trust, investment management, and other fiduciary accounts are meant to address the significant areas of operations and provide the minimum set of requirements and procedures:
- Periodic review of existing accounts – A trust entity (TE) shall conduct periodic reviews of its trust, investment management, and other fiduciary accounts, to ensure that the TE performs its fiduciary duties and responsibilities. The account review shall include administrative and investment review.
- Administrative review – at the minimum, the following areas shall be covered for the administrative review:
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- Existence of an accurate. complete, and current governing instrument; and
- Extent and timeliness, of the trust entity's performance of the duties and responsibilities (e.g. investment execution, real estate management, adherence to distribution clauses, processing of retirement/pre-need benefits) set out in the governing agreements and as required by relevant regulatory bodies or other interested parties.
Frequency of review: Once every three years. Review shall be conducted more frequently for accounts vested with public interest.
- Investment review – at the minimum, the following areas shall be covered for the investment review:
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- Suitability of the investment portfolio(s) vis-a-vis the governing agreements, client's risk profile, and any law-mandated restrictions;
- Propriety of asset allocation and investments vis-a-vis client's liquidity needs, investment objectives, risk tolerance, and tax considerations, if any;
- Fund performance evaluation vis-a-vis the designated benchmark or other relevant performance metrics;
- Promptness of deployment of funds to investments considering the nature and purpose of the account; and
- Degree of concentration to a specific security issuer or industry considering the investment objectives, asset allocation model, and/or purpose of the account.
Frequency of review: At least annually, or more frequently depending on the nature, investment needs and/or requirements of the accounts.
- Effectivity – the circular shall take effect 15 calendar days following its publication in the Official Gazette or in a newspaper of general circulation.
Please see attached circular for further guidance.
BSP Circular No. 1204
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