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Annual and short period audit
We perform audit engagements in accordance with the Philippine Standards on Auditing (PSA), as required by required by national legislation or other regulations of agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Cooperative Development Authority (CDA), etc.
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Review engagement
We provide a limited or moderate level of assurance that financial statements are free from material misstatements, in accordance with the Philippine Standard on Review Engagements (PSRE).
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Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
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Security offerings services
We provide assurance services for our clients’ debt and equity security offerings. These include audits or reviews of financial statements, examination of prospectuses, and issuance of comfort letters as required.
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Agreed-upon procedures
We perform agreed-upon procedures in accordance with applicable professional standards, delivering factual findings reports tailored to the specific needs of our clients and relevant third parties. Our services include asset and inventory count observations, financial statement translations, and assistance with regulatory applications such as capital stock increases and debt-to-equity conversions.
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Other related services
We help our clients stay ahead of the evolving complexities in the accounting landscape. Our offerings include training programs, transition and implementation planning, and impact assessments related to newly adopted accounting standards, such as Philippine Financial Reporting Standards (PFRS Accounting Standards) and other relevant frameworks.
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Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
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Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
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Corporate services
For clients who want to do business in the Philippines, we help set up the business and assist in determining the appropriate and tax-efficient operating business or investment vehicle.
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Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
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Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
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Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
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Transaction services
We help organisations provide strategic advice and support throughout the transaction process and provide financial reporting advisory services to help companies successfully navigate the complex financial requirements in a broad range of scenarios.
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Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
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ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
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Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
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P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
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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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Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
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Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
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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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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.
Five steps to more effective debt financing
06 Jun 2016By: Wes Priebe
Debt can play a pivotal role in helping to grow a business—but only if you do it right. That means financing your working capital needs with short-term debt—like operating loans and accounts payable, funding capital assets with term financing or leases, and matching repayment terms on your loans with your business’s cash flow ability.
These five steps can help you properly structure your debt most effectively:
1. Choose the right lender
The financial health of your business will usually dictate the type of lender that fits your business risk level. Generally, lower-risk businesses will deal with lower cost traditional or senior debt lenders, while higher-risk borrowers are more likely to pay the higher borrowing costs charged by subordinated debt, mezzanine or asset-based lenders. In all cases, be sure to work with a lender who understands your business and industry, particularly as these industry-focused lenders frequently offer better terms and pricing.
2. Understand your financing covenants
When entering into a financing agreement, borrowers are typically expected to maintain certain covenants or key ratios. If these covenants are not maintained, lenders can increase your cost of borrowing or even pull your financing. As such, it’s important to understand what can adversely affect these covenants.
Typically, lenders establish covenants in three areas:
- Working capital (current ratio) is calculated by dividing your current assets by your current liabilities and measures your business’s efficiency. It can be negatively affected by suffering business losses; using cash flow to fund expenditures; or shareholder draws that exceed the funds available after debt servicing.
- Debt servicing is the cash required to cover your debt’s principal and interest payments. This is calculated by taking your earnings before interest, depreciation and amortization (EBIDA) and dividing this by your annual payments. If you are struggling to service your debt, this may be an indication that your business is not generating enough profit or that your initial debt was improperly structured.
- Leverage (debt-to-equity ratio) is the amount of debt your business has in relation to its equity, and is calculated by dividing your total debt by your net equity. You may find yourself over-leveraged if your debt is increasing at a faster rate than your equity.
3. Monitor your performance
It is important to monitor your borrowing covenants on a monthly, quarterly, semi-annual or annual basis—depending on the frequency your lender sets. If you do notice that any of the required covenants are not being met, be sure to notify your lender and take corrective action. It can also help to monitor industry trends, as well as key performance indicators (KPIs), so you can more quickly determine how you are performing within your industry.
4. Plan
By using business plans, forecasts and/or budgets to monitor your financial performance—and updating them on a regular basis—you can make ongoing adjustments to improve revenue, reduce expenses and plan for growth. By continually managing your plan, you are able to make adjustments to the forecast in the event of a decline in your financial results—positioning you to take corrective action. Being proactive typically increases your lenders willingness to continue working with you.
5. Maintain critical relationships
Last, but not least, aim to develop a strong relationship with your lenders so they will support you through your financial cycles; and with your business advisors, who can help you set KPIs, monitor financial performance, benchmark your company against industry norms and connect you with the right lenders.
The author is a Principal at Grant Thornton LLP Canada. Grant Thornton International Ltd. is a leading global business adviser that helps dynamic organizations unlock their potential for growth. Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd. For inquiries, you may direct them to 988-2288 ext. 760 or visit our website at grantthornton.com.ph
As published in Philippine Daily Inquirer June 6, 2016