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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.
Where to anchor our decisions on
06 Nov 2019My wife will be traveling once again. Upon seeing her possible return flight schedules, an interesting, but uninspiring dilemma surfaced: would she take an earlier flight, but will be forced to face Friday night traffic from the airport to our house; or leave a day later to avoid the Friday congestion, but will not be able to spend Saturday with our kids? Such a dilemma, or some other more critical version of it, faces us constantly.
In our everyday lives, including in our careers, there are decisions that are not always lopsided in terms of being favorable to the one who is making the decision. I distinctly remember when we, as a couple, seriously considered moving to a different country to pursue our careers and establish our family. In those moments, we unanimously decided to stay in the Philippines for multiple reasons: our careers, our core and extended families, our values, and where we think we are being led by God to do His work on this Earth. I would be lying if I say that I have never doubted whether we made the correct call. When I was driving once again through the horrendous 5:30 a.m. traffic in Metro Manila (after spending a few days in Singapore), I asked myself once again: is this really where we need to be? Nevertheless, I still do not regret staying in my homeland; that was just the frustration talking.
Living in a volatile and unpredictable environment does not only affect corporations. It also affects individuals such as us. During these times, it becomes imperative for us to be more deliberate in the decisions we make. However, being deliberate connotes the use of a longer time prior to reaching a decision; and time, despite still having the same 24 hours in a day, seems a lot shorter nowadays.
For every significant and life-changing decision, maybe even for minor choices that we would be facing, what am I suggesting to be our objective? First, our decision should not be something we would regret; and, second, that it would take us faster than usual to decide.
Regretting a decision is a feeling of sadness or disappointment over something we had decided in the past. Regretting a decision made is not dependent on whether it resulted in achieving the desired results. Hence, when one says that there are no regrets, it normally means that the decision did not have a payoff in the end.
The amount of time one needs to arrive at a decision depends on a lot of factors. The availability of information, the urgency of the matter, and a person’s risk appetite are just some examples of these factors. What we want to achieve in this fast-paced environment is to decrease the time for us to reach a decision.
One way to achieve both of these objectives is to come up and be clear with your personal mission statement. Such a personal mission statement should encompass all your values and principles. If you have a family, your personal mission statement should be aligned with your family’s mission statement.
As a certified public accountant (CPA), I often look at my personal mission statement as something similar to the accounting standards. If there are any accounting issues, we look into the accounting standards to aid us in determining the appropriate accounting treatment. Similarly, if I am facing a decision, I would assess my options using my personal mission statement. It essentially serves as the foundational basis or the framework in guiding my decision-making process. By having this framework as part of the process, it allows me to be confident that, regardless of the outcome, I will have no regrets. Likewise, it makes the decision making process a lot quicker.
Have you ever reached a point where you are choosing option A, while your heart says otherwise? I know I did. Prior to having a personal mission statement, I flip-flop between choosing what I think and what I feel. Such an internal debate is, more often than not, one of the reasons it takes us longer than usual to decide. It is also the reason regret comes at some future date, which eventually affects our future decisions.
Should our personal mission statement be something that changes? It may, but I strongly believe that changes should be rare. If it is anchored on your values, principles, beliefs and world view; and you are clear what those are, then your personal mission statement should not drastically change. It might be tweaked or improved, but it should not change often.
My wife asked me for my opinion on her dilemma. I knew, by the sound of her voice, that she already knew the answer to her own question. So I simply answered “You know the trade-offs: deal with the traffic or miss the kids. I think you already know the answer.” I knew that she already has the answer, because I know that she knows our family mission statement, the short form of which is “Love God and love others.”
Anton Ng is a Partner in the audit and assurance division of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 23 partners and more than 900 staff members. We’d like to hear from you! Tweet us: @PAGrantThornton, like us on Facebook: P&A Grant Thornton, and email your comments to anton.ng@ph.gt.com or pagrantthornton@ph.gt.com. For more information, visit our website: www.grantthornton.com.ph.
As published in The Manila Times, dated 06 November 2019