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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.
How can finance seize digital opportunities?
06 Mar 2019Whether it is artificial intelligence, big data, analytics, or cloud technology, technological advances present an opportunity for finance or accounting teams. However, what is the best way to make the most of potential gains: an enterprise-wide solution or a more targeted approach?
Many will attest that investing in technology can bring a competitive advantage, as well as connectivity. However, many companies are hesitant about digital transformation due to lack of knowledge and willingness to invest. This despite the fact that we live in a world shaped by cloud and wireless technologies.
We are on the cusp of a new wave of technology that affects not only customers, but the back office as well. Robotic process automation and machine learning are enabling automation and opportunities to scale up, which were not there before.
Furthermore, analytics and artificial intelligence are creating situations wherein the finance platform can be built on top of the company’s core systems, without having to change or update them. This gives finance and accounting teams the freedom to improve without moving or modifying essential systems usually very expensive to change.
Is the Finance department lagging behind?
Finance and accounting teams especially face two main challenges. First, they are often not as aggressive as other functions in seeking investment in the latest systems and technologies. Unfortunately, companies tend to focus on operational and customer-facing technology. The return on investment in finance systems can be extremely quick, but it is rarely articulated.
Second, finance teams lack the capacity to step up and adapt. Such departments often lack the time to focus on special projects, like digital transformation, when ‘business as usual’ comes first. Finance may not have the time for major transformations, but teaching continuous improvement across the organization can make a huge impact.
Don’t be tech-savvy for the sake of it
For mid-sized businesses considering spending on technology, check first if you can maximize current systems. Adding technology is not a magic bullet. Companies can implement new solutions, but if the adoption is poor, because users neither are engaged nor aware of the system’s benefits, they just die out. This leads to resistance to embracing similar projects in the future.
One approach does not fit all
The approach that companies should take depends on the type of organization and its needs. For an enterprise-wide solution, the challenge is the lack of a clear business case for the change.
Management has difficulties with providing robust analysis of business benefits and return on investment. In some cases, however, an enterprise-wide digital transformation is exactly what the organization needs.
A mid-sized business where connectivity between warehouse management, e-commerce, and finance needs an overhaul because investing in technology will enable a company-wide transformation. Alternatively, a specific business case that delivers clear return on investment is sometimes a better and more affordable option.
Plan, plan, plan
Digital transformation can go wrong when there is no proper business case, which explains in detail the financial benefits, work improvements, and project delivery structure.
Sadly, most finance functions sit on massive amounts of interesting data, but they have no time to analyze them, because they are manually downloading data out of the finance system, manipulating them in Excel, reviewing printouts, and then reloading all the information into the finance system through accounting journals.
The significant costs that come with digital opportunities should also not be a roadblock. Instead of looking only at the cost aspect, factor in the return on investment and what can really be achieved.
Keep calm, carry on
There is no harm in embracing technological advances. When considering any kind of digital project, ignore the scars of the past and understand that the rules have changed: technology is very much different these days and it can be done much more quickly and affordably.
CEOs today prioritize innovation, proactive performance management, and government-compliant digital processes. The biggest challenge for the latter is finding sustainable solutions fit for your organization by adding value at the right cost.
As published in The Manila Times, dated on 6 March 2019