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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.
As often associated with the comic book superhero Spiderman is the statement: “With great power comes great responsibility.” In addition to my leadership role as a Partner for Advisory Services and the head of the Knowledge Management Group at P&A Grant Thornton, I am taking on new professional roles with the Philippine Institute of Certified Public Accountants (PICPA) – as chair of the Metro Manila Region (MMR) Council and as national vice president for public practice.
The induction and turnover ceremonies took place last week amidst unusual circumstances. For the first time in PICPA history, the ceremonies occurred virtually. However, while we may have lost some of the much-expected pomp and circumstance this year, one thing that remains constant is the drive to be transformational leaders in the accountancy community. The COVID-19 pandemic and quarantine are, in fact, golden opportunities to rise as one professional community. Now is the time to focus on resilience and change.
What follows is an abridged transcript of my inaugural address delivered last Saturday, July 4, 2020:
In the opening of the Lord of the Rings, Bilbo Baggins stood before Hobbiton and said: “Today is my one hundred and eleventh birthday! Alas, eleventy-one years is far too short a time to live among such excellent and admirable hobbits.” Today, since that midnight before the 16th of March, is our 111th day of community quarantine, and I stand before you, dear excellent and admirable leaders of PICPA MMR!
Our MMR term for FY 2020-21 is full of challenges and opportunities. Very few of us are given a chance to create new things and lead at such time. True to the theme of our President Lope L Bato, Jr. this year, ‘Filipino CPAs rising in solidarity amidst challenging times,’ we will go through a new and different experience, but come out a stronger PICPA and better professional accountants!
Allow me to share my dreams and prayers for MMR this year:
- We will embark on a digital transformation journey.
- We will transform our secretariat into a full complement MMR Professional Office so they can continuously and effectively deliver excellent services to members in the new normal.
- We will evolve our membership engagement activities to respond to the new normal, including offering life skills, well-being, and on-demand learning programs. We will continue our member servicing activities and will listen and act according to our vision, mission, and RISING agenda of our National President.
- We will offer differentiated and specialized professional development courses based on your career level, consistent with Philippine Qualifications Framework (PQF) career progression and competency frameworks, and invite other professional qualifications and international certifications for continued competency-building.
- We will extend and share our knowledge and skills to the micro, small and entrepreneurial and public sectors, and continue to support other chapters, sectoral and professional organizations in the pursuit of our shared objectives.
Alone, I cannot change the world, but I can cast a stone across the waters to create many ripples. As my MMR family, I will continuously seek guidance, advice, inspiration, and support from each of you, because our collective ripples will create a wave of change for our organization.
As we go through this journey of profound change and high expectations, I am excited at the prospect that you are one with me in making these changes happen for MMR, for a better PICPA, and a stronger accounting profession.
In a Harvard Business Review article on ‘How Resilience Works,’ Diane Coutu eloquently explains that “Resilient people possess thee characteristics: (1) a staunch acceptance of reality (which we are embracing); (2) a deep belief, often buttressed by strongly held values, that life is meaningful (of which we hold dear); and (3) an uncanny ability to improvise (which we saw in your plans and programs). You can bounce back from hardship with just one or two of these qualities, but you will only be truly resilient with all three. These three characteristics hold for resilient organizations as well. Resilient people and (organizations) companies face reality with staunchness, make meaning of hardship instead of crying out in despair, and improvise solutions from thin air. Others do not.”
In the last two days of our Annual Planning Conference, you have all demonstrated strong resilience and—despite the state of community quarantine we are in, in the past 111 days since the midnight of the 16th of March—you have developed great plans and programs.
I am confident that we will accomplish all the things we have set out to do, because we will rise to the occasion and do it together! I would like to end with a quote from Mother Teresa: ‘Yesterday is gone. Tomorrow has not yet come. We have only today. Let us begin.’
The author is the Philippine Institute of Certified Public Accountants chairman for the Metro Manila Region Council for fiscal year 2020-2021.
Mhycke C. Gallego is a Partner of Advisory Services and Head of Knowledge Management of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing firms in the Philippines, with 24 partners and more than 900 staff members. We’d like to hear from you! Tweet us: @GrantThorntonPH, like us on Facebook: P&A Grant Thornton, and email your comments to mhycke.gallego@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph
As published in The Manila Times, dated 08 July 2020