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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
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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
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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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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.
Are you crazy?
03 Jul 2018
I had the opportunity to attend the Innovation Summit spearheaded by the Cebu Chamber of Commerce and Industry (CCCI) last June 19 to 20. Presented in line with Cebu Business Month, the summit was well-attended by CCCI members and business enthusiasts from all over Cebu.
During the summit, several esteemed speakers from different fields shared their financially viable inventions, unique business models, and eye-opening discoveries. The highlighted innovations included perpetual lights without electricity, maglev trains powered by spinning magnets, magnetic elevators capable of transporting horizontally and vertically through buildings. Cybersecurity vis-a-vis being an ethical hacker was also discussed. Listening to inspiring entrepreneurs and their rags-to-riches stories made me realize that my challenges are trivial compared to what they have gone through to reach the zenith of their careers. Other speakers talked on the power of hope and courage that could eventually translate to greater glory and success. During the talks, however, I noticed a common word uttered by most of the innovators, other than guts and confidence: crazy.
These inspiring innovators and disruptors described themselves as crazy. Despite the label, they are in unison in saying that their craziness made them think out of the box, innovate their mundane businesses, and be different. By being crazy, they were able to break barriers and change the status quo.
In comparison, I noticed that I am regularly exposed to rules and regulations. As a lawyer, I have a modest knowledge on the basics of law, with a notion that it should be followed to its core, getting out of touch with my craziness in the process. As an accountant, accounting standards and tax rules have become a career staple. Listening to the speakers, my memories as a young person flashed back to the days of being innocent and idealistic.
I used to dream of inventing a machine that could absorb pollutants in the environment. In one of my high school freshman class activities, I presented to the class an illustration of the said machine, which resembled more like a tree. In my younger days, I always asked questions and tried to figure out the answers to them. As my education progressed, however, I had more answers than questions. My thirst for learning was overshadowed by my desire the get a Latin honor; so much that I learned to faithfully ascribe to a set of rules. Since then, following the “rules” has become my norm.
With this comes a sudden realization that, perhaps, we become bored and exhausted in our work as we have detached ourselves from our innate craziness, our ability to think out of the box, and our creative self.
Being in the accounting and legal professions, it is but normal for me to deal with crafted rules, standards, principles, and laws. The path I will pursue has already been laid out. Innovation seems to be out of the picture. In business, on the other hand, the possibilities for innovation in order to capture the desired market are limitless. Is the exercise of a profession not a business? How, then, can we innovate? An exercise of your profession is not a business for profit. Rather, it is primarily a public service. Profit only comes next to service.
While innovation may be necessary to be more profitable, it is also necessary for better service to the public. Innovation in connection with the exercise of one’s profession might be bleak, but not impossible. We can very well innovate the way we practice our profession without necessarily veering away from professional ethical standards.
In an organization of practicing professionals, innovation could be introduced in how professional services are delivered to clients. A mobile app to easily contact a professional service provider (much like Grab or Uber) could be a startup. Services could also be introduced not only to cope up with market demands, but in order to be at par with dynamic industries.
We should not sit on our laurels. Having a professional license is just the start of a career. We should continue to strive to become empowered professionals by immersing ourselves in various fields of practice, taking up further studies, or engaging in worthwhile activities.
Innovation is highly risky, not to mention costly. Yet, it could offer high returns. Competition = Innovation = Profit. In this fast-paced, technologically driven world, it is not enough that we find our market niche. As one speaker in the summit pointed out, it is a must that we create our own niche. Our education may have made us professionals, but we ultimately determine how innovatively we practice our profession and grow as a person. With innovation in mind, I end with this question: Are you crazy?
Atty. Kim Aranas is a manager of the Tax & Compliance Division of P&A Grant Thornton in Cebu. 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 are in Makati, Cavite, Cebu and Davao. For comments on this article, please email kim.aranas@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For our services,visit www.grantthornton.com.ph.
As published in Mindanao Times, dated July 03, 2018