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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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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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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.
Like many mothers whose child will be joining the first batch of Senior High School students under the K-to-12 program this year, I have already embraced the new policy and placed my trust in our policymakers that these additional years will better prepare my son for his future.
Since I have obtained information on the curriculum for the additional two years, I am now anxious to find out how the K-to-12 program will affect the curriculum for the course program that he plans to take in college. With a number of the general subjects offered during the initial years in college now moved to high school, what will the new curriculum in college look like? Would the revised curriculum prepare him better for his chosen career? Will he now have a higher chance of landing his dream job abroad? After all, the enhanced education program is aimed at making our graduates globally competitive, right?
As an employer, on the other hand, I am eager to understand how this new program will produce better-skilled and -equipped graduates who will be the future talents in our firm.
The answer to this question, of course, depends on a number of factors with the academic preparedness of a graduate just being one of them. In the Integrated Survey on Labor and Employment conducted by the Philippine Statistics Authority, almost 30 percent of the reasons cited by employers on why they are having difficulty looking for the right candidates is the gap between the skills that they are looking for and that which new graduates actually have. This finding is consistent with the results of our commissioned study conducted by P&A Foundation in 2013 regarding the country’s accounting graduates.
Let me highlight two such skills gaps based on the commissioned study – one is the poor analytical and critical thinking skills and second, the insufficient knowledge and skills acquired from their undergraduate studies.
Most colleges prepare their graduates for entry-level positions and the focus is more on the computational or rudimentary aspects of the course. Thus, the analytical or deeper understanding of the discipline is left out like the judicious use of data and information for management decision-making, the analysis of trends and events and its impact on the business, and many others. This emphasis on theoretical mastery was mainly for them to pass the certification tests of the Professional Regulation Commission (such as the CPA Board exam) and not to prepare these graduates for actual and practical work application.
In several consultation meetings and conferences I attended with members of the academic community and leaders of business and industry, this gap in practical application has been prevalent and established. Both sides agreed that such gap may be addressed by incorporating in the curriculum an intensive internship program. In one forum that I participated in, the president of a major university shared with me that while they can offer training labs as the more relevant training is indeed the immersion of students in non-theoretical activities. I totally agree with this proposition. The current practice where students are being required to complete only a few hours of on-the-job training (OJT) is ineffective; a longer period of a year, for example, is more crucial.
Likewise, the present set-up where the accounting students, while on OJT, are required to attend other classes or participate in school activities does not bode well for the companies that accepted them. The work requirements assigned for their OJT demand focus, consistency and reliability to deliver.
There are several other issues that need to be addressed for an essential internship like the nature of work assigned to them, the rules that govern the relationship that exists between the company and the intern, the confidentiality of information that the intern will be handling and the benefit entitlements, among others. The challenges in encouraging organizations to accept and train interns should also be studied. In some countries, the government even provides incentives to such companies, fully realizing that training the interns requires time and use of their resources. In the Philippines, there are some best practices on this that need to be replicated and already incorporated in some of the school curricula. Why not consider adopting these for all the schools and companies?
This week I repeatedly heard the adage that learning is 10 percent training, 20 percent coaching and 70 percent actual experience. The K-to-12 program is an opportunity for our education policymakers to make a significant change in our education system. We (the parents, the students, the academic and business communities and the government) are heavily invested in the program. We would like to see graduates who can easily find jobs because they have the actual skills to make them truly globally competitive and, more importantly, prepared for the business of the future.
As published in The Manila Times, dated 08 June 2016