-
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
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.
-
Sustainability
At P&A Grant Thornton sustainability is at the core of our mission. We are committed to fostering a healthier planet through innovative practices that reduce our environmental footprint, promote social responsibility, and ensure economic viability for future generations.
-
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.
Clarifications on the treatment of alien individuals employed in the Philippines
26 Nov 2019IN CONNECTION with section 4C of Bureau of Internal Revenue (BIR) Revenue Regulations (RR) 8-2018, which provides that, “All concerned employees of regional or area headquarters and regional operating headquarters of multinational companies, offshore banking units and petroleum service contractor and subcontractor shall be subject to the regular tax rate,” the BIR issued Revenue Memorandum Circular (RMC) 116-2019 on Oct. 18, 2019.
RMC 116-2019 clarifies that the respective incomes of alien individuals employed by the abovementioned entities are now similarly taxed as income of regular employees of locally established entities. As such, these alien individuals are subject to the same administrative requirements of the BIR being imposed on other regular employees, such as substituted filing, issuance of BIR Form 2316 and inclusion in the monthly withholding tax remittance on compensation and in the prescribed alphalists.
Further, alien individuals employed by foreign principals and assigned to render services exclusively to these local entities, otherwise known as “seconded employees or secondees,” are likewise subject to regular income tax rates. It is grounded on the principle of situs of taxation, considering that the services rendered by these alien individuals are performed in the Philippines, regardless of whether their salaries are being paid by the foreign principals or advanced by these local entities.
These local entities to whom the “seconded employees” render their service shall, thereby, comply with the same administrative requirements imposed by the BIR for regular employees, except for substituted filing. In addition to these prescribed requirements, the following procedures shall be complied with by all concerned entities:
(a) A separate employment status and description for “seconded employees” shall be provided in the “Current Employment Status” of the Alphabetical List of Employees/Payees from Whom Taxes Were Withheld under BIR Form 1604C, as well as in the Alphalist Data Entry and Validation Module version 6.1.
(b) These “seconded employees” shall file their annual income tax return and pay the income tax due, if applicable on or before the prescribed deadline of April 15 of each year, with the attached BIR Form 2316 duly issued by the local entities.
(c) In all copies of the BIR Form 2316 to be issued to these employees, the phrase “For Seconded Employee” shall be typed or printed in bold capital letters enclosed in parentheses immediately under the form’s title “Certificate of Compensation Payment/Tax Withheld.”
(d) In case of termination of their services before the end of the taxable year, the local entities shall ensure that the withholding tax on their last salaries shall be computed using the annualized withholding tax method, pursuant to the provisions of section 2.29(B)(5)(b) of RR 2-98, as amended.
Please be guided accordingly.
Source: P&A Grant Thornton
Certified Public Accountants
As published in SunStar Cebu, dated 26 November 2019