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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.
One casual Sunday afternoon at my parents’ home in Davao City, my Dad and I had a chat. “I wish your Mom and I could renew our marriage vows in a church on our golden wedding anniversary,” whispered my dad. “This is my dream for your mom.”
They had told us they never had a church wedding.
It was in 2007 when Dad first told me about his church wedding plans. He said to me, in jest: “I’m telling you now, four years in advance so that you can prepare for the expenses.” We shared a laugh but deep inside, something told me that he would not make it to the day.
Fast forward to 2011, I flew to Davao one Saturday and informed my parents that everything was set for their church wedding, a week in advance. I even surprised them with their new wedding rings.
Dad could not contain his excitement while Mom was in her usual quiet and reserved self. I told them that my siblings from abroad (Canada and Australia) were also flying in for the big day. I left for Manila the following day but promised to be back two days before the most awaited celebration.
Monday morning while I was driving to work, I received a call from my aunt. “Your Dad is finding it difficult to breathe,” she said. She gave the phone to my Dad and we talked briefly. “Take care, Dad,” was all that I could say to him before putting down the phone. “Not now, please!” I prayed as I gripped the steering wheel tightly. An hour or so later, I received another call from my aunt: Dad was in a comatose. I felt numb. I went directly to the airport and headed to Davao City. Seeing Dad unconscious at the hospital drew flashbacks to the time I first felt that he wouldn’t make it to their dream wedding. He passed away the day after their golden wedding anniversary.
A year later, I experienced an unexplained weight loss; losing 35 pounds in a span of six months. I needed to undergo a series of lab tests because my hematologist suspected I had leukemia. I was not allowed to travel as I must undergo further tests; however, I felt that I had to spend that Christmas, possibly my last one, with my family in Davao City. A few days before Christmas, I was hospitalized due to fibromyalgia. The pain was unbearable. I could hardly stand and make a step. All the signs were pointing to my demise but that little voice in my head was telling me otherwise. I was discharged on Christmas Eve.
Punongbayan & Araullo extended my sick leave indefinitely in order for me to recuperate. Slowly, I regained my health with the help of the team of specialists and the support of my family, friends and colleagues. But while I was still recovering, my Mom complained of an upper abdominal pain.
Though she blamed it on indigestion, I had a strong feeling that she had to visit a doctor. My worst nightmare became a reality: the doctor diagnosed her with stage 4 cancer. She was given only six months to live. I asked for a second opinion from another specialist, hoping for a more favorable diagnosis. It was worse.
He gave my Mom only three months. For three weeks, only I knew about this. I didn’t know how to tell her. But she felt it. She told me, “I know I’m sick and will not recover, but I’m okay. I’m old enough. What’s important is your health.” Mom passed away two months from diagnosis.
Have you ever wondered for whom is that inner voice you were hearing when you are about to do or say something? Some call it intuition while others call it gut feeling. Whatever, it is that feeling that tacitly guides us when we are making a decision without the benefit of analysis.
At work, we can sometimes sense this when we are about to embark on a difficult task, meet a prospective client or read a report and sense that something is amiss. Maybe this inner voice is the result of the “cache” of information stored in our mind that allows us to have that “quick diagnosis” of a certain situation or event.
According to Dr. Geil Browning, there is no such thing as a purely rational decision. The brain uses a combination of logic and emotion when making decisions of any kind. That specific emotion, innate to us as humans, is intuition. We possess the capacity to feel, and thereby the ability to know things without consciously reasoning. The “gut feeling” is real, and we use it all the time. A word of caution, though: gut feeling, if influenced by biases, is dangerous as well. It should flow freely without you being conscious about it.
Though I hope that I can still reverse the outcome of those undesirable gut feelings in my personal life, I’m still grateful for these. If I did not pay attention to my gut feel, I might not have been consciously more willing to give my best for my Dad during his last four years. I also might have been caught unprepared if I did not let my Mom visit a doctor for a simple stomach pain. I couldn’t fight fate but that voice in my head helped ease its painful arrival.
Ramil Nañola 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 more than 850 staff members. For your comments, please email ramil.nanola@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For more information about P&A Grant Thornton, visit our website www.grantthornton.com.ph.
As published in The Manila Times, dated 23 August 2017