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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.
HR as total reward steward
12 Sep 2018American management guru Dave Ulrich has identified nine competency requirements for Human Resources (HR) to win as an organizational function.
These competency requirements are divided into three major sections: enabling, strategic, and basic competencies.
Total reward stewardship is one of the three enabling competencies. Total rewards is a notion that defines all possible means for employers to attract, motivate, and retain their people.
Total rewards include financial and non-financial compensation and benefits, which include even just the perceived value of the employment relationship.
Total rewards include compensation, benefits, performance, recognition, work life effectiveness, and development.
For rewards to be considered effective, they have to be employee-specific, visible, equitable, and cost-effective.
From among these qualities of effective rewards, employee-specific is the hardest to meet, considering that each employee has a unique set of needs.
The realities of each employee differ from one another, making it administratively challenging to come up with employee-specific total rewards.
The steady rise of the gig economy makes it all the more difficult to put in place a total rewards scheme that will be attractive, exciting, and meaningful to employees and potential employees.
The closest means of achieving employee-specific total reward design is to look at the general realities among the four generations present in the workplace today.
Dr. Stephanie Thomas of Cornell University came out with a study that shows these general realities as shown and discussed below.
Here is how Dr. Thomas segmented generation by year of birth: Traditional covers those born from 1930 to 1945; Boomers are people born from 1946 to 1964; Gen X birth years are from 1965 to 1978 and Gen Y are individuals born between the years 1979 to 1990.
Incentives
Traditionalists clamor for appreciation, and would most likely appreciate something that will help them remember good times.
For them, certificates, medals, plaques, trophies, and the good old “perfect attendance” and/or “best in something” awards will be a hit.
Generation X and other generations see these types of incentives as a thing of the past and would be dismayed having it.
Traditionalists would still be excited to receive a gold watch with the company’s logo by the time they retire.
Baby boomers would choose recognition anytime of the day. For them, being distinguished from the rest is important. Providing baby boomers with a prime parking slot that everyone can see as an incentive is very attractive.
Gen Xers want their incentives to be tied to performance. They want to be rewarded for a job well done.
As for Gen Y, constant feedback is necessary. Providing this generation with immediate incentives such as movie tickets or Starbucks gift certificates will surely matter. Gen Yers are very collaborative, and aligning incentives with this innate trait, such as a group karaoke night or a day in a theme park, will be truly appreciated. Eyes of other generations will certainly roll if you give them group incentives, as they will view it as a complete waste of money.
Benefits
True to their name, traditionalists would not want anything than traditional benefits packages. Health benefit packages with dependent coverage, life insurance, retirement plan, leave benefits, car plan, and easy access to
loans would be most appealing to them.
Boomers will decide to join an employer based on benefit packages. They will agree on a pay cut for a better benefits package. Similar to the generation before them, baby boomers are at home with typical benefit packages. The only difference is that they want higher coverage for health and insurance, higher limit for car plan and loan, and more leave benefits.
Choices are what Gen Xers will ask for. Uniform benefit packages are a turn-off for this generation. They want independence and personal decision as to what benefits they will enjoy. They do not want to be dictated upon what benefit package will work for them, as they want to take responsibility for designing and developing their own benefit packages.
Generation Y is for creativity in benefit package design. Flexible work arrangements, flexible benefits, wellness benefits, education subsidy, gadget benefit, and free breakfast or lunch are very attractive to this generation. Unique and creative benefits are most appealing to them.
Rewards
Intrinsic rewards will work well with traditionalists. It is important for them to get a sense of fulfillment for doing their jobs well.
On the other hand, extrinsic rewards, such us higher salary raise, fancy titles, and publicly announced awards are what boomers are looking for.
Freedom and independence are what you can give as rewards to Gen Xers. They want to have a say on which project to work on first, when to work on it, and where to work for it.
Meaningful work is the greatest form of reward for Generation Y. They want to make sure they are contributing to making the world a better place. They want to look at things beyond the surface, and they want to put deeper meaning on what they do.
Base salary pay increase
Traditionalists are very loyal to their employer. Because of this, a salary that is competitive with regular adjustments aligned to their cost of living will be enough to make them happy.
It is perfectly normal for boomers to compare their ranks within the organization’s hierarchy. Thus, it is imperative for them that their pay is aligned with their rank and that of their coworkers. Tenure for them should be rewarded, and salary increases should be equitable.
Jumping from one employer to another is typical for Gen Xers. You need to make sure you provide salary that is competitive to your market, because they will move out if they get a better offer from elsewhere. They want their raises to be tied to how well they work on assigned projects.
Gen Y’s collaborative nature will make them openly and freely share information about salary and increases. It is important that your salary structure is characterized by equity and fairness. This generation will likely act together if they have the slightest thought that your pay is inequitable. They would probably do an exodus if they feel that you are giving inequitable base pays and unfair increases.
With all these significant differences across generations, it will appear that being a total reward steward is mission impossible.
HR is the overseer of total rewards, but it is not just HR’s sole responsibility. Total reward stewardship should be a shared responsibility with your line people.
Some guidelines to keep in mind in balancing total reward expectations are: Communicate uniquely with each generation as they prefer, accommodate employee differences in coaching, create workplace choices in compensation and benefits when possible, provide flexible leadership and adapt to what works with each generation, respect and reward competence and initiative, take necessary steps to enhance employee satisfaction and loyalty, and build and promote a learning environment to attract and retain a diverse set of individuals.
Published by The Manila Times dated 12 September 2018