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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.
‘Culture is business strategy’
12 Mar 2018
In an era of disruption and uncertainty, corporate culture—and not technology—will make or break companies and organizations, said the head of one of the world’s biggest auditing firms.
While many companies are starting to invest in artificial intelligence and high-level technologies that can replace routine tasks, the main differentiator among companies will still be their people and "how you train people and develop the leadership that's going to take people through the change," said Peter Bodin, global CEO of Grant Thornton International (GTI), who was recently in Manila for the 30th anniversary of P&A Grant Thornton, its Philippine member firm and currently one of the top auditing firms in the country.
Before assuming his role as Global CEO of GTI on Jan. 1, 2018, Bodin led Grant Thornton Sweden for 16 years, during which the Swedish firm’s revenues more than trebled. GTI is one of the five most prestigious accounting firms in the world with 50,000 people across over 130 countries.
Seeing business models transform in the last five to 10 years, he said no one still knew exactly how digital transformation will disrupt businesses. Thus the real game changer will be the kind of culture that organizations will build amid such uncertainty.
Those that are best in talent development, harnessing leadership, and building the organizational culture that can adapt to the new world are going to be the winners in this game, he said. “How to create a company culture that doesn’t know the answers yet will develop and evolve during the journey,” he added.
In his speech during P&A Grant Thornton’s 30th anniversary celebration, attended by more than a thousand employees, alumni, clients, and business partners, the global CEO lauded the local auditing firm for being a symbol of disruption “even before ‘disruption’ became a buzzword.”
In 1988, at a trying time for the Philippines’ fledgling democracy and amid the dominance of a single player in the local auditing industry, Punongbayan & Araullo (P&A) was set up by public accountant Benjamin R. Punongbayan and seasoned banker Jose Araullo. From eight people, it has grown to more than 900 employees with 21 partners across its nationwide network.
Bodin cited two things that make the corporate culture in the Philippine firm strong: its gender balance and the presence of millennials.
“So much research and experience show that diverse and gender-balanced businesses deliver better results, are better able to handle the disruption that goes in every sector, and are more resilient,” he said in his speech. He also considers millennials—comprising about 80 percent of the P&A Grant Thornton workforce—as a strong driver for growth, given their love for technology and being at the forefront of innovation.
Bodin said he remained optimistic about the impact of automation on the way the auditing firm conducts business, which focuses on being trusted business advisors to a diverse clientele.
“Automation allows much more information and analyses about our business and that of our clients that lead to strategic, in-depth discussions about the future, and more qualified work for our people so the shift is a positive thing,” he added.
He said GTI had massively developed new audit methodologies and modernized the whole network in the last five years to drive quality and efficiency. “Robots, AI, and a lot of buzzwords are out there and changing what we do. We’ve not only geared up on the audit side, but are also developing similar technology to bring over to other service lines,” Bodin said.
P&A Grant Thornton Chair and CEO Maria Victoria C. Españo echoed Bodin’s excitement over the ongoing shift and how accounting firms can suit up for more changes to come.
“Our local economy has made bold leaps and the Philippine government, just like others in the world, is making meaningful investments in infrastructure and technology to support growth. This is why we celebrate our 30th anniversary with the theme ‘Unlimited’: we are unlimited in our ability to hurdle change and maintain optimism and confidence in businesses and in our nation,” she said. —CONTRIBUTED
As published in Philippine Daily Inquirer, dated 12 March 2018