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Annual and short period audit
We perform audit engagements in accordance with the Philippine Standards on Auditing (PSA), as required by required by national legislation or other regulations of agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Cooperative Development Authority (CDA), etc.
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Review engagement
We provide a limited or moderate level of assurance that financial statements are free from material misstatements, in accordance with the Philippine Standard on Review Engagements (PSRE).
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Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
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Security offerings services
We provide assurance services for our clients’ debt and equity security offerings. These include audits or reviews of financial statements, examination of prospectuses, and issuance of comfort letters as required.
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Agreed-upon procedures
We perform agreed-upon procedures in accordance with applicable professional standards, delivering factual findings reports tailored to the specific needs of our clients and relevant third parties. Our services include asset and inventory count observations, financial statement translations, and assistance with regulatory applications such as capital stock increases and debt-to-equity conversions.
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Other related services
We help our clients stay ahead of the evolving complexities in the accounting landscape. Our offerings include training programs, transition and implementation planning, and impact assessments related to newly adopted accounting standards, such as Philippine Financial Reporting Standards (PFRS Accounting Standards) and other relevant frameworks.
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Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
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Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
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Corporate services
For clients who want to do business in the Philippines, we help set up the business and assist in determining the appropriate and tax-efficient operating business or investment vehicle.
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Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
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Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
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Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
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Transaction services
We help organisations provide strategic advice and support throughout the transaction process and provide financial reporting advisory services to help companies successfully navigate the complex financial requirements in a broad range of scenarios.
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Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
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ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
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Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
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P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
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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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Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
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Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
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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.
Have you ever watched a video that looked and sounded real, only to discover it had been manipulated by Artificial Intelligence (AI)? If so, you have most likely encountered a deepfake. Deepfakes are digitally altered videos, audio, or images that mimic reality and are often unrecognizable by digital users. These alterations come across different domains through entertainment, politics, personal profiles, and businesses.
As AI algorithms and technology rapidly advance, deepfakes are becoming deliberately pervasive in digital media. This results in posing threats to individuals and businesses. Imagine seeing a video where your face is plastered on another person’s body, an audio recording that mimics your CEO’s voice, or a video about your business sharing controversial information on some issues. This shows that deepfakes could happen to anyone.
The Growing Threat of Synthetic Content
According to the Global Risk Report 2024, false information, such as misinformation and disinformation, has been ranked as the top global risk. Since AI no longer requires specialized skills to operate and is easily accessible to almost anyone, this has led to an outburst of false information and synthetic content. Moreover, the report stated that over the next two years, AI may have the capability to manipulate digital users, disrupt economies, and gravely affect our communication towards society.
Deepfakes represent a serious and escalating threat. For businesses, there are potential consequences of a deepfake attack, including financial loss, stock price manipulation, reputational damage, and legal consequences. The stakes are high, and the cyberthreats are real.
With this, this shows that there is a need for a call to action in strengthening cybersecurity. Given the rising threat of deepfakes, businesses must take proactive steps to safeguard their businesses and their people. Here’s what they must take note:
1. Answering unknown calls
One of the most common deepfake-related threats is the robocall scam. It usually occurs when you receive a call from an unknown number. If you answer, there’s no response but silence on their end. However, what you may not realize is that the caller is already recording your voice and your voice patterns. This captures enough audio to create a convincing mimicry of your voice. Through this, your synthesized voice can then be used in various malicious ways, from fraudulent phone calls to falsifying your consent in business transactions. It is important to ensure that whenever you answer a call, you have to think twice. Are you expecting a call from an unsaved number? Do you have the need to answer this call?
2. Use of AI Detection Tools and AI Imaging Apps
While detection tools are essential in identifying deepfakes, businesses must be cautious. Although these tools can detect cyberattacks, they may also be used to harvest your sensitive information while protecting you from other tools. A double persona, in a sense. For example, the use of third-party AI imaging apps on social media, such as seemingly entertaining apps that you voluntarily submit a photo of your face to generate AI images, can be used as a source for future deepfakes. If you continue to utilize these apps, it may put you and your businesses at risk as they collect your own personal information. With this, you must always ensure that your detection tools are official, certified, and regularly updated. Additionally, you must refrain from uploading your photos and personal information for the sake of amusement without considering the potential consequences.
3. Employee Training and Expert Consultation
Cybersecurity awareness should be an ongoing process. At P&A Grant Thornton, we use a cybersecurity system called Vigil@nt to keep training our people, especially since we are in the professional services firm. However, regardless of what industry, this is an imperative to the business. This training includes recognizing phishing emails, understanding the importance of strong authentication processes, and consulting with experts on what to do when incidents happen or are about to happen. A people-focused cybersecurity strategy is key to strengthening the business and maintaining a positive outlook for the future.
4. Updating Crisis Management Plans
In times of crisis, like a CEO or a board member being a victim of deepfake or false information, an outdated crisis management plan that does not consider how to deal with this issue can aggravate the situation. It’s crucial to keep crisis management plans updated at all times, especially as new threats like deepfakes emerge and technology continues to adapt and evolve. However, this responsibility doesn’t lie solely with the cybersecurity or IT team; everyone has a shared responsibility. Human Resources must address staff concerns, Marketing and Communications should manage public messaging, and every team member must remain vigilant yet alert.
5. Act fast and stay vigilant
People are often the weakest link in information security and are mostly targeted by cyberattacks. It is time to change that narrative by making people the strongest line of defense. If you notice something suspicious, whether it’s a phishing email, a strange phone call, or unusual activity, you must report it immediately to the IT department or your immediate manager. Collective vigilance can make all the difference in preventing an attack.
The threat of deepfakes is already here, and it’s growing. Hundreds of stories have spread stating individuals and businesses were victims of deepfake attacks. It is now time to take our awareness of cybersecurity seriously, especially since we are integrating our lives digitally. By staying vigilant and proactive, businesses and individuals alike can protect themselves from the potentially devastating consequences of deepfake attacks. Stay informed, stay secure, and always be on the lookout for the next wave of cyber threats.
As published in The Manila Times, dated 04 September 2024