-
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
-
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.
-
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.
-
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.
-
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.
-
Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
-
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
-
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.
-
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.
-
In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
-
Fresh Graduates
Fresh Graduates
-
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.
-
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.
Social media, once dismissed as a passing fad by most people, is now more important and ubiquitous than traditional print advertising. Well-known social media platforms are now marketing giants and they are offering businesses valuable information about their customers and connecting with them free of charge (mostly) and in a convenient way.
In his International Food and Beverage report entitled “Hunger for growth: Food and Beverage looks to the future,” Grant Thornton Partner and National Leader for Food & Beverage Simon Hunter said that the social media is now considered more important than traditional print advertising in promoting these goods.
His report revealed that nearly half (49 percent) of all food and beverage industry executives say social media is the main method of attracting and retaining customers, while print advertising got 46 percent. The company website is viewed as the most important at 78 percent.
Other digital tools such as email, online advertising, search engines and digital coupons are also being used to engage with customers, reflecting growing customer demand for accessible product information dissemination.
While this is a trend worldwide, Filipinos tend to use the internet in the Philippines to do research on food and beverage and then go to the nearest store or mall to buy them. Filipinos just love webrooming.
Webrooming, which means searching online but buying in brick-and-mortar stores, is still preferred by Filipinos. (Webrooming is different from showrooming, or searching in physical stores but buying online.)
Nielsen Philippines said trust is the main reason for this. Filipinos want to see and hold a product physically before they buy it. Moreover, webrooming satisfies the instant gratification yearning among the young.
SM Supermalls, the biggest mall in the country, said that people who go to the malls for food and beverage contribute 25 to 30 percent of its sales, up from only 5 percent in 2004.
SM Supermalls Senior Vice President Steven Tan said that many of them go to the malls to socialize more than to shop, which was why they also market them as lifestyle centers with coffee shops and parks.
Online grocery shopping, however, still has a low market penetration rate of 1 percent in the Philippines, similar to other Asean countries except for Singapore. South Korea is the highest in Asia with 51 percent online penetration for packaged foods and 35 percent for fresh produce.
Nielsen Philippines identified the top three barriers in the country to online food and beverage shopping: choice (there is still a limited differentiated array of choices for packaged and fresh foods and beverages online in the Philippines); infrastructure (few online sellers who can promise same-day delivery) and ease of payment (less than 10 percent of Filipinos have credit cards).
But, does this mean that the online food and beverage shopping and online grocery shopping would falter in the Philippines?
Among active internet users in the Philippines, 97 percent have social media accounts, enabling digital marketers to target them in their future promotions.
Confidence among Filipino consumers continues to be the highest in Southeast Asia and second in the world, edging up 2 points to a score of 119 in the first quarter of 2016, according to a Nielsen Global Survey of Consumer Confidence and Spending Intentions last year.
The consumer confidence index measures perceptions of local job prospects, personal finances, and immediate spending intentions, among more than 30,000 respondents with internet access in 63 countries.
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
Interestingly, the Visa eCommerce Consumer Monitor 2014 revealed that nearly nine out of 10 Filipino consumers do their “shopping” online. Convenience, price, and deals were cited as the top reasons for online shopping.
However, the top three categories for online transactions in the Visa Monitor are bill payments, fashion-related items and movie tickets. Food and beverage still lag behind in online transactions among Filipinos.
I am not sure if Filipinos will buck the worldwide trend on online food and beverage shopping. There is a slow uptick in this area, but the active use of social media is likely to influence the trend away from webrooming into online shopping.
Mai Sigue-Bisnar is a partner, Audit & Assurance, and head of Markets Group at P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 21 partners and over 850 staff members. For your comments, please email mai.sigue-bisnar@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For more information about P&A Grant Thornton, visit our website www.grantthornton.com.ph.
As published in The Manila Times, dated on 07 June 2017