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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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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.
Moral compass
08 Aug 2018What’s the use of skill and competence if you don’t have moral compass–someone who thinks that everything has a grey area, someone who believes the end justifies the means, or someone who commits immoral and unethical acts?
Whether their people are in a leadership position or rank and file, organizations should know how lacking a moral compass can negatively impact a company.
Susan Fowler’s February 19, 2017 blog post started a storm that rocked Uber, the disruptive software company (or a cab company, if you ask the European Court of Justice). In her blog, Fowler described how Uber’s systems protected high performers when accused of bad behavior, such as sexual harassment and discrimination.
Her 3,000-word blog entry eventually led to the ouster of Uber’s co-founder and CEO Travis Kalanick, as well as the termination of about 20 employees who were accused of wrongdoings. From February (when Fowler blogged about Uber) to June of the same year, Uber’s market share dropped by three percentage points.
But what’s keeping organizations from taking steps in ensuring they are protected from employees dragging the company into potential scandals? Is it the fear of losing high performers, hence, we just look the other way?
Sometimes, however, their contribution to the organization may not be enough for the damage they may cause, because of their inappropriate actions.
Is it because we view ourselves as a team player, thereby “protecting” the good of the many? Sometimes, we misplace our being a team player by protecting each other, even if a wrong has been committed. Support your team by giving them the correct feedback; don’t support their mistakes and hide behind the veils of camaraderie and a conflict-free environment.
Losing the trust of your customers and employees—not to mention the costs it entails—can be very detrimental to an organization.
Fox News paid out approximately $50 million from 2016 to 2017 for sexual harassment and discrimination allegations happening within the news organization.
Imagine working for a company that doesn’t pay correct taxes. Apart from putting the entity in a great risk, what will employees think about their company? Given the opportunity, they would also cheat their company to get a “share” of the cost savings for not paying correct taxes.
Maybe they could also take some of those “savings” by falsifying their reimbursement documents. The lack of integrity at the top sends the wrong signal to its employees: if my manager is getting away with sexually harassing my female colleague, maybe I can get away with it as well.
As we rely more on technology, it’s just as important to remember to be more vigilant in upholding our moral compass, our sense of what is right and wrong.
Take the case of Chicago Sun-Times movie critic Richard Roeper. He was one of those identified by a New York Times article to have purchased Twitter followers. Whatever his reason was, it was perceived by his employer as something improper.
For me, it was an act that misled his employer and the general public by showing a greater number of Twitter followers than what should have been. We don’t even know if the purchased Twitter followers are legitimate; worse, some of them may even had been compromised identities, a product of identity theft. Would you be believe Mr. Roeper’s articles if you knew that he has the tendency to deceive people?
What about an app called Woebot that tracks your mood, gives you insight, and helps you feel better? It could supposedly act as a companion to those who need to talk to somebody. The objective seems noble, but I am just concerned about what advice the users of Woebot are getting. What if those configuring the algorithm or writing the codes for this app have no moral compass? Can you just imagine what type of advice it can provide to someone who might already be depressed? If you’re the founder of this software company, wouldn’t you be very mindful of the moral compass of the people you hire?
History tells us unethical behaviors could severely tarnish an entity’s reputation, lead to monetary losses, or even result in the death of an organization. Just ask Enron and Arthur Andersen.
Up to what extent do we prioritize performance over immoral or unethical behavior? Until when are we willing to look the other way, simply because somebody is contributing to the bottom line? At some point, however, we have to examine our own moral compass, because we might have also lost it along the way.
Anton Ng is a Partner of the Audit & Assurance of P&A Grant Thornton. P&A Grant Thornton is one of the leading Audit, Tax, Advisory, and Outsourcing firms in the Philippines, with 21 Partners and over 900 staff members. We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to anton.ng@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published by The Manila Times dated 8 August 2018