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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.
The top ten economies
The ongoing eurozone crisis is certainly putting Europe on the world map – although for all the wrong reasons.
And yet many European businesses are still more likely to seek regional opportunities rather than emerging markets – from full corporate migrations or inversions to setting up a regional hub, offshoring support services to setting up an offshore intellectual property (IP) management vehicle.
So this year, our updated is bigger, better and packed with 26 country profiles. If you are considering a big step, such as expanding or relocating overseas, then please contact a Grant Thornton adviser in your country. But for a quick overview, here is a summary of 10 popular countries to relocate to in Europe:
1. Belgium
The commercial benefits of being located at the heart of Europe, a good IP regime for patents and a very attractive financing system (with notional interest deductions) means Belgium is often used, particularly as an IP holding company location.
2. Cyprus
Widely used for investment into Russia and Central Europe owing to a strong treaty network, Cyprus is increasingly used for service companies, including the financial services sector, attracted by a 10% corporate tax rate, simple regime, and relatively low cost.
3. Hungary
A relatively new holding company location destination, Hungary is ideal for accessing other Eastern European countries. It also has a straightforward tax system, a low overall tax rate and a good IP regime, which can result in such income being taxed at five per cent.
4. Ireland
Ireland is a popular location for holding and IP holding companies, particularly with a wealth of skilled workers in the technology and pharmaceutical sectors. It also has a flexible tax system, low corporate tax rates of 12.5% for active trades, and a good IP regime.
5. Luxembourg
Pre-eminent within the finance sector, it is a common holding company location and is often used as a treasury/financing location. Advance agreements with the tax authorities are possible whereby Luxembourg only taxes a small spread on financing flows.
6. Malta
A relatively low cost of living combined with a good quality workforce makes Malta a popular jurisdiction for service companies. If structured correctly, corporate tax rates of less than five per cent are achievable.
7. The Netherlands
Once widely regarded as the holding location of choice, its regime is perhaps not as competitive as a decade ago. With an excellent treaty network and a flexible tax system, the Netherlands still remains popular as a holding company location, and is widely used by service, trading and logistics groups.
8. Spain
Not widely recognised as a holding company location but its strong treaty network with Latin America means that Spain is a very good holding company location to access these markets. Its attractive R&D credits and IP regime can also result in a low effective tax rate.
9. Switzerland
With access to a sophisticated workforce, Switzerland is widely used as an entrepreneurial hub, especially in the food and drink, pharmaceutical and financial services sectors. Although expensive, with a complex tax regime, overall corporate taxes can be low.
10. UK
While the complexity of the tax regime is a deterrent for many, US multinationals in particular continue to use the UK as a holding company structure – this is driven by commercial factors, particularly relative ease of set-up, language factors and communication links.
The full report is available to download .
Adapted from the Grant Thornton UK International and Emerging Markets Blog