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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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Behind the Numbers: People of P&A Grant Thornton
Discover the inspiring stories of the individuals who make up our vibrant community. From seasoned veterans to fresh faces, the Purple Tribe is a diverse team united by a shared passion.
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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.
Implementation of the Amendments introduced by EOPT Act on the Invoicing Requirements and Registration Procedures
(Revenue Regulations No. 07-2024, April 11, 2024)
This Tax Alert is issued to inform all concerned on the rules and regulations to implement the amendments on invoicing requirements and registration procedures, pursuant to Republic Act No. 11976, also known as Ease of Paying Taxes (EOPT) Act.
Transitory Provision for Unused Official Receipts
A. Manual and Loose-leaf Invoicing
1. Below are the options of the taxpayers with manual invoicing with regards to unused official receipts:
2. All unused manual and loose leaf ORs to be converted as Invoice shall be reported by submitting an inventory of unused ORs, indicating the number of booklets and corresponding serial numbers, in duplicate original copies, within 30 days upon effectivity of these regulations to the RDO/LT Office/LT Division where the Head Office or Branch Office is registered. The receiving branch RDO shall transmit the original copy to the Head Office RDO and retain the duplicate copy.
3. Taxpayers shall obtain newly printed invoices with an ATP before fully consuming the converted ORs or before Decembre 31, 2024, whichever comes first.
B. Electronic Invoicing
1. Documents issued by CRM/POS/e-receipting or electronic invoicing software containing the word “Official Receipt” beginning at the effectivity of these Regulations shall not be considered as valid for claim of input tax by the buyer/purchaser.
2. Taxpayers using CRM/POS/E-receipting/E-invoicing may change the word “Official Receipt (OR)” to “Invoice,” “Cash Invoice” “Charge Invoice,” etc., whichever may be applicable, without the need to notify the RDOs having jurisdiction over the place of business of such sales machines.
This reconfiguration shall be considered a minor system enhancement which shall not require reaccreditation of the system nor the reissuance of the PTU. The serial number of the renamed Invoice shall start by continuing the last series of the previously approved OR and submit notice, indicating the starting serial number of the converted invoice, to the RDO/LT Office/LT Division where the machines are registered, in duplicate original copies.
3. Taxpayers using duly registered CAS or CBA with Accounting Records, having a direct effect on the financial aspect, shall require a major system enhancement, to comply with the provisions of the EOPT Act. This requires the taxpayer to update their system registration by filing a new application. The previously issued AC or PTU shall be surrendered to the RDO where the concerned taxpayer is registered, and a new AC shall be issued to the Head Office/Branch(es).
The reconfiguration of machines and systems shall be undertaken on or before June 30, 2024. Any extension due to enhancement of systems shall seek approval from the concerned Regional Director or Assistance Commissioner of the LTS which shall not be longer than 6 months from the effectivity of these Regulations.
Effectivity
These Regulations shall take effect fifteen (15) days following its publication in the Official Gazette or the BIR official website, whichever is applicable. These Regulations were posted on the BIR website on April 12, 2024.
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