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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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Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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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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Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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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.
Philippines tops 2018 Women in Business survey
08 Mar 2018
A NEW SURVEY on women in business shows that 46.58% of Filipinas in the workplace hold senior management roles, a proportion that is way above the global average of 24.14%.
That compares to 40% in 2017 and 39% in 2016.
Grant Thornton International Ltd.’s Women in Business report, which surveyed 4,500 senior executives across 35 countries, said the country’s top rank could be attributed to policies and practices such as equal pay for men and women performing the same roles, among others. Up to 80% of those surveyed cited this factor as the reason, the report said.
The survey also attributed the country’s ranking to non-discriminatory policies for recruitment (cited by 76% of respondents), paid parental leave (70%), and flexible hours (66%).
“These practices have been introduced by Filipino businesses in order to attract and keep employees, enhance company performance, comply with government legislation, live up to organizational values and meet the expectations of wider society,” Grant Thornton said in a statement.
Next to the Philippines, the country with the second highest proportion of women in senior leadership positions is Indonesia, with 42.56%, followed by Thailand, with 42.07%.
On a regional comparison, the Association of Southeast Asian Nations had the highest average at 38.55%. Countries in the Baltics came out second with an average of 36.29%.
“Diversity in every sense is good for businesses,” the statement quoted Ma. Victoria C. Españo, chairperson and chief executive officer of P&A Grant Thornton, said in a statement.
“It encourages different ways of thinking and opens up new opportunities for growth. This is particularly relevant in a rapidly changing global business environment, as a wide range of perspectives will help businesses to better analyze and navigate new landscapes.”
She said that while the Philippines was highly regarded for its gender diversity in senior leadership, much more that can be done to foster diversity at that level.
“Make diversity and inclusion a core value in your business: Organizational values drive behavior, so it is important that the whole business is signed up to diversity and inclusion,” she said.
“Business leaders should set clear goals by which the business will measure progress. The key for creating real change is that business policies and practices are rooted in a genuine conviction of the benefit of diversity.”
Globally, Grant Thornton said businesses had taken “one step forward but one step back” in terms of women in leadership.
Significantly more businesses — 75% in 2018 versus 66% in 2017 — have at least one woman in senior management, but the proportion of the team that is female has slipped to 24% from 25%, the report noted.
Francesca Lagerberg, global leader for network capabilities and sponsor of women in leadership at Grant Thornton, said that while it was “hugely positive that women are in senior roles at more businesses, it’s disappointing that they are being spread so thinly.”
“This suggests businesses are concentrating on box-ticking at the expense of meaningful progress and means they will not gain from the benefits of true gender diversity. We need to move beyond policy and focus on the vital role leadership and culture can play in creating real progress in gender balance,” Ms. Lagerberg said.
“There is compelling evidence of the link between gender diversity in leadership and commercial success. The current volatility in the global economy and ongoing technological innovation and disruption makes the issue more important than ever.”
The report looked into the role of both business and government policy in bringing about change, Grant Thornton said.
The data show gender equality policies are “abundant and widespread,” with 81% of businesses adopting equal pay for men and women performing the same roles, and 71% implementing non-discrimination policies for recruitment, it said.
Measures that support working parents are also popular among businesses, including paid parental leave (59%), flexible hours (57%) and part-time working (54%), it added.
“However, there is no clear correlation between which, and how many, policies businesses have in place and the gender diversity of their senior management teams. No single policy seems to drive gender diversity, and the regions in which businesses have most policies in place — Africa, the EU and North America — demonstrate very different levels of gender diversity in business leadership,” it said.
The report said that companies were motivated to introduce gender equality policies to attract and keep employees (65%) and to live up to organizational values (65%).
It also said recruitment and retention were strategic priorities for businesses, while gender equality in leadership had become a core element of company branding.
“However, businesses say the barriers to introducing policies include the complexity of translating good intentions into practice (22%) and stereotypes about gender roles (21%),” it said.
Grant Thornton is one of the world’s leading independent assurance, tax and advisory firms. — Victor V. Saulon
As published in BusinessWorld, dated 08 March 2018