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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
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.
While the current administration is trying to rebuild the nation through its war on drugs, truce with rebel groups, eradication of corruption in government, and improvement of government services, among others, businesspeople like mecan also contribute in this rebuilding process through our Corporate Social Responsibility (CSR) initiatives. This is the perfect time for businesses to rethink their CSR efforts and ride the wave of change that is in our midst.
Many companies around the world are becoming environmentally and socially responsible citizens, and they demand the same from their vendors. This is borne by data from the Grant Thornton International Business Report, a leading mid- market business survey in the world, which reveals that 62% of companies in the study says that “because it’s the right thing to do” is a key driver in changing the way they conduct their businesses. This is based on more than 2,500 interviews with business leaders in 34 economies and insights from United Nations International Children’s Emergency Fund and Grant Thornton leaders.
But how do we apply CSR in the country? We are all made aware of communities, especially in Metro Manila, where people live in shanties along creeks and riverbanks that are teeming with garbage and filth. Is it enough that we go to these slum communities and distribute relief goods, books, and other stuff that don’t last?
I believe that we can do better than that. What if we teach them how to fish and use their catch wisely such that during tough times, they’d be able to cope on their own? If each of the top 1,000 corporations in the Philippines, at least, would adopt an indigent community and help it develop livelihood programs suited to its environment in two to three years, then that would mean 1,000 communities becoming productive and self-reliant. This could jumpstart a revolution that could contribute to the rebuilding of our nation where everyone contributes to the cause.
A good example is ecotourism; as the Philippines is ranked 14th, ahead of the US and South Africa, among countries that are the most ecologically diverse, according to the World Atlas. We have so many beautiful places that can be considered for ecotourism but are not taken care of and used properly because of lack of financial support or knowledge of local communities. A good CSR would be a business of adopting one of these communities, partnering with the government, and helping he local residents develop the biodiversity hotspot as a sustainable tourism enterprise for the local residents.
Another example is partnering farmers with investors. Mr. Alex Buenaventura, the new president and CEO of the Land Bank of the Philippines, made a presentation in one of our Rotary meetings where he said one of his focus areas is developing the countryside by essentially professionalizing farming activities through partnerships with investors. I believe and I hope that the wonderful ideas he presented will succeed. If they do, our nation’s food supply will be more than sufficient, farmers will be empowered and perhaps our country will again be a major exporter of rice and other crops in Asia. This partnership may encourage the informal settlers in the cities to move to their rural hometowns or go back to the countryside where they can be more productive and thrive in a more dignified living condition.
There are various ways that we in the business sector could help in rebuilding our nation through our CSR initiatives. We just have to understand and know the impacts of what we could do. We should not just do it because everyone else is doing it. We should do it for a good cause and make it count. It should impact the lives of many.
Your CSR initiative may not directly impact your businesses but if it is sustainable (add values formation in your initiative to help make it sustainable), it will empower the people and will make them independent, environmentally and socially responsible citizens in the future. I believe your indirect gains will more than double your investments (i.e., time, effort and money). As they say, you reap what you sow.
Creating, implementing and doing an impactful and meaningful CSR can be difficult. And so is rebuilding our nation. So let’s all hop in and ride the wave of change – together let’s help rebuild our nation through our CSR initiatives as we venture beyond the financials.
Chris Ferareza is a Partner, 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 800 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 chris.ferareza@ph.gt.com or pagrantthornton.marketscomm@ph.gt.com. For more information, visit our Website: www.grantthornton.com.ph.
As published in The Manila Times, dated 08 March 2017