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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.
BIR simplifies business registration procedures
02 May 2018IN line with Revenue Memorandum Order No. 6-2018 enhancing the frontline services of the Bureau of Internal Revenue (BIR) by streamlining tax-related transactions, the BIR recently issued Revenue Memorandum Circular (RMC) No. 19-2018 to circularize the simplified business registration procedures and guidelines.
The RMC mandates the implementation of a single window policy on registering new businesses to simplify the processing of the certificate of registration (COR) and the authority to print (ATP). New business registrant counters (NBRCs) will be designated in the frontline service area of the revenue district offices (RDOs) to exclusively cater to new business registrants. New business registrants do not need to go to authorized agent banks (AABs) to pay the business registration fees (RFs) and other fees, since NBRCs may now accept these payments.
The following are the detailed procedures for business registration with the BIR:
1. Prepare all the requirements in the checklist of documentary requirements (CDR) or Annex A1-A3 of RMC No. 19-2018.
2. Secure a queuing number for the NBRC or special lane.
3. Submit the signed CDR, duplicates of duly accomplished BIR Forms No. 1901/1903 and 0605 for RF payment, and the complete documentary requirements.
4. If the applicant has an existing Tax Identification Number (TIN) and is not registered with the concerned RDO, apply for a transfer of registration by accomplishing BIR Form 1905.
5. Once called for payment, pay the RF and other registration fees to the NBRC (registrants with existing TINs may pay the registration fee in advance through AABs, ePayment channels of AABs, and mobile payment through GCash).
6. Upon approval, claim the COR, ATP, and ask for receipt notice from the NBRC together with the e-receipt as proof of payment of the RF and/or other tax liabilities or penalties.
7. Fill out the log sheet, indicating the date of receipt of the COR and ATP.
8. Accomplish the Standard Taxpayer Feedback System, and drop at the designated drop box.
9. Attend the scheduled taxpayers’ initial briefing to be conducted by the concerned RDO for new business registrants in order to know their rights, duties/responsibilities, and tax compliance.
The application for registration of business must be filed with the RDO having jurisdiction over the taxpayer’s place of business or residence. The registration should be completed on or before the commencement of business, before payment of any tax due, or before or upon filing of any applicable tax return, statement, or declaration. New business registrants may proceed to registering their books of accounts after securing their COR and ATP within 30 calendar days from the date of business registration with the BIR.
All new business registrants must also submit a final and clear sample layout of the principal receipt/invoices upon submission of application for registration. Sample layouts are available in the RDOs and Annex C1- C3 of RMC No. 19-2018. The chosen sample will be considered final and cannot be altered. Taxpayers may use or change their own desired format and layout of principal receipts/invoices for the subsequent ATP application.
RMC No. 19-2018 takes effect immediately, and revokes all other issuances that are inconsistent with its provisions.
For further information, please refer to the full text and annexes of the issuance.
SOURCE: P&A GRANT THORNTON
Certified Public Accountants
Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd.
As published in SunStar Cebu dated 2 May 2018.