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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.
Tax Alerts
Streamlined processing of CARs and tax clearance
This Tax Alert is issued to inform all concerned that processing of Certificate Authorizing Registration (CAR) and tax clearance applications should comply with the timelines prescribed in the regulations. RMO 41-2016 reiterates that CARs shall be issued within five (5) days from the submission of complete documentary requirements pursuant to the provisions of RMC 39-2015 (Updated BIR Citizens Charter as Consolidated). This refer to CARs covering transactions on sale of real property, transfer or assignment of shares of stock traded in the stock exchange, transfers subject to donor's tax, estate tax and other taxes including the related documentary stamp tax. RMC 74-2016 streamlines requirements of tax clearance which shall be processed and released within two (2) working days from the submission of the following documents:
New BIR Commissioner suspends effectivity of recent issuances and audit activities; Revokes RMOs on transfer of properties
This Tax Alert is issued to inform all concerned that the new BIR Commissioner has suspended the effectivity of revenue issuances issued within June 1-30, 2016, alongside audit activities by the BIR until further notice. Revenue Memorandum Order Nos. 24 on 25 which requires determination of financial capacity in transfers of properties have been revoked effective immediately.
BIR waives TTRA requirement for interest, dividend and royalties
This Tax Alert is issued to announce the relaxed rules in applying preferential tax rates under tax treaties.
Deadlines for filing returns and tax payments
This Tax Alert is issued to circularize proper due dates for filing of returns and payment of taxes. Due dates for filing of return and payment of taxes shall be the exact dates stated in the law or regulations for filing or payment. Electronic returns must be received by the BIR on or before 12 midnight of the due date. However, if deadline falls on a Saturday, Sunday or a holiday, this shall be moved to the next business day. This rule applies in all cases whether for eFPS, eBIR Form, and manual filers
Accounting for netting/offsetting arrangements
This Tax Alert is issued to circularize the prescribed accounting and recording of transactions involving “netting” or “offsetting” arrangements. Accrued receivables or payables arising from sale of goods and services shall at all times be recognized at gross for tax purposes, regardless of whether the transactions are actually settled through offsetting or through net settlement of cash flows. Hence, income tax, withholding tax and VAT/percentage tax shall be determined based on the gross amounts.
Tax treatment of passed-on GRT
The BIR has previously ruled that banks and non-bank financial intermediaries performing quasi-banking functions may shift to their clients/borrowers the GRT due on transactions covered under Sections 121 and 122 of the NIRC.
Policies and guidelines on disputed assessments
This Tax Alert is issued to inform all concerned of the uniform policies and guidelines on handling disputed assessments. It is a basic policy that opportunities are given to taxpayers who choose to explain objection to an assessment and present necessary documents in support before issuance of FDDA.
Stricter rules on transfer of properties
This Tax Alert is issued to inform all concerned on the stricter rules on the processing of Certificates Authorizing Registration (CAR) and Tax Clearance Certificates (TCL) on transfers of properties.
Certificate of authorizing registration be issued only through electronic system
Beginning June 1, 2016, manual preparation of Certificates of Authorizing Registration (CAR) and Tax Clearance (TCL2) shall be stopped. CARs shall now be processed and generated thru the eCAR system. eCARs shall be printed on security papers which include security features and bar codes on its face which can be used by the Land Registration Authority (LRA) for an online verification on its authenticity.
Additional qualifications for accredited printers
This Tax Alert is issued to inform all concerned that additional policies in the accreditation of printers engaged in the printing services of official receipts, sales invoices and other commercial receipt and/or invoices are newly provided.