-
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.
-
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).
-
Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
-
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.
-
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.
-
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.
-
Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
-
Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
-
Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
-
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.
-
Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
-
Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
-
Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
-
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.
-
Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
-
ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
-
Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
-
P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
-
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.
-
Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
-
Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
-
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.
-
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.
-
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.
ONE look—and your heart starts pounding through your chest like a big bass drum. In your tummy, butterflies are throwing a party. You’re seeing stars, and you feel like you’re floating in a dream. Just thinking about it keeps you up all night, tossing and turning in bed.
We all know that feeling. At one point or another, we were, or perhaps are still, afflicted—or rather, affected—by it. I’m talking about that crazy not-so-little thing called “tax.”
That’s how I used to feel every time I check my pay slip. With the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, though, I now feel nauseous every time I ask about the new prices of commodities (Hint: It is highly unlikely anyone will be putting down some sugar on you for free, Adam Levine.)
It turns out, love and tax are a lot alike. Heck, tax could very well be love, dare I say it.
Before you conclude this pure absurdity and head for the exit, hear me out.
Taxation, in essence, is the pooling and redistributing of resources so that society is better off. Progressive taxes are intended to shift the burden to those with a higher ability to pay, setting the groundwork for social justice by creating a wider and more equitable distribution of wealth. It is the citizens’ solidary efforts in nation-building by taking a portion of oneself—income earned by sweat and blood, and offering it for the common good; like carrying an injured person to safety until they are nursed back to full health and are a productive member of society once again. If that doesn’t speak love, I don’t know what does.
Three..two..one.. BOOM!
Like a moment of attraction, the TRAIN law took off with a glorious explosion of fireworks! The implementation of the law on January 1, 2018 could not be more fitting to usher in the new year with promises of brighter days ahead. Those who were under that midnight sky peppered with neon lights stood in awe and were swept by a wave of emotions—foreign, sweet, perplexing, but mostly hopeful and optimistic—especially for the anticipated revisions in the income tax brackets. Mid-income earners were the most eager, for there would be no more deductions for taxes from their salaries from that day forward. Ah, the magic of beginnings.
Tax, like love, involves compromise.
Alas, all the kilig that new love brings soon would wane; the smoke settles down and our vision clears. We now see that there are flaws to our otherwise perfectly imagined dream: For one, the increase in the excise tax rates on petroleum products doth sharply sting. With the increase in transportation costs, we can only expect an increase in the price of everything else.
But the danger is not so much in rising prices, but in the proliferation of mass distrust in the government. The frustrating automobile excise tax and other contentious provisions put the intentions of the law in a dubious light, creating widespread suspicion and further resistance, endangering the relationship between the country and its people. This relationship wasn’t as good as we thought it would be, and what was inherently one grand manifestation of love appears to have been perverted by the greed and selfishness of those who want to serve their own interests.
Nevertheless, it is a truth indelibly chiseled into the script of life that the genuinely good things will— inevitably come with the terrible things, and
Tax, like love, focuses on the good, believes in the best, and nurtures a grateful heart.
When it comes to love and, in this case, to love of country, often the challenge is remaining steadfast during difficult times and seeing through the imperfections of the law (while, of course, continuously improving the law and its implementation) in the name of all the good that is made possible through our sacrifices.
However, it can be tough to keep on loving when our taxes seem to be paid in vain, and we’re not getting the services we think we deserve.
It is in light of this predicament that the Bureau of Internal Revenue (BIR) took a rather pleasing twist in their tax campaign this year. Launched last February 12, 2018 with the slogan “Salamat Sa’yo”, the campaign brings the spotlight back to the true change-makers in society: taxpayers. Instead of the usual explicit solicitation of taxes that postures taxes as a burden to the public, the BIR’s approach acknowledges the common person’s significant role in the betterment of every Filipino’s life and society as a whole through our contributions, no matter how small. Through taxes, we are able to feed the hungry, clothe the naked, shelter the homeless, and fulfill so much more of our moral responsibilities. That is the positive way to change the typical notion of taxes and to empower the Filipino people!
Sometimes, a little perspective can go a long way. Hopefully, it will be 20 years into the future when we can finally see the government projects that our taxes fund come to fruition.
Tax, like love, makes the world go round…
Paying taxes isn’t the most pleasant thing to do, especially when, most of the time, we feel like we’re not getting any benefits. But what we feel isn’t necessarily the situation. At times love works from the inside, and in silence. For the first time in years, the government has expressed a listening ear to the cries of the people with the passage of the TRAIN law; years of unrequited, taxpaying love are finally being vindicated.
Just as taxes are the lifeblood of the government, it is love that keeps us alive, in spite of countless evidence to the contrary. Our laws, which are a concrete expression of such love, are authored upon that very foundation. The increase in fuel taxes is intended to augment worsening traffic conditions while, at the same time, to reduce the use of fossil fuels in order to protect our environment. As a whole, the tax reform program is aimed towards inclusive growth, improved infrastructure, and public services for a more comfortable life for every Filipino.
Love, for our country and for our fellowmen, is the invisible thread that weaves us together in our shared responsibility of keeping a civilized society by paying our taxes and using them for the right purposes.
Love, in the form of taxes, allows us to make a difference and transform lives, because it propels us into action, however crazy and unconventional as its demands may be. All along we’ve been deeply in love, enough to have been paying our taxes despite hardly getting anything in return, enough to have been waiting and holding on to the hope that tomorrow will be better than today.
It is seldom easy at the start, and change can be daunting. But if we badly want change, perhaps we can afford being crazy enough to give TRAIN a chance and see where it takes us, with love as our compass.
Ms. Castro is an associate of tax advisory and compliance of P&A Grant Thornton, Cebu branch. P&A Grant Thornton is a leading audit, tax, advisory, and outsourcing company in the Philippines, with 21 Partners and over 850 staff members with branches Makati, Cavite, Cebu and Davao. For comments on this article, please email charlene.decastro@ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com.
As published in Mindanao Times, dated 21 February 2018
