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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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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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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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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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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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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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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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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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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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Outlook on PH most ‘optimistic’
28 Jan 2019The Philippines has the most positive economic outlook for 2019 among its neighbors in the Association of Southeast Asian Nations (Asean), a survey by audit firm Grant Thornton showed.
Grant Thornton said 66 percent of the Philippine respondents were “optimistic” on the country’s economic condition for 2019.
The figure is the highest in the Asean region. It was followed by Indonesia’s 61 percent. Both Malaysia and Vietnam recorded 38 percent while Singapore, 18 percent. Thailand scored the lowest at -1 percent.
In global ranking, the Philippines was fifth along with Brazil. Ireland was the most optimistic with 80 percent.
Majority or two-thirds of the Filipino business leaders surveyed by the audit firm said they were “very optimistic” about the economic condition this year with their revenues expected to grow more than 5 percent.
Seventy percent expect their revenue base to continue strengthening this year, which Grant Thornton said was in contrast to the “more reserved global outlook” of 39 percent.
“Following a period of heightened optimism and strong economic growth, the global outlook for businesses in 2019 is markedly more reserved as the economic cycle cools and political uncertainty begins to bite,” it explained. The global outlook for 2019 was lower than previous year’s 54 percent.
Twenty-two percent forecast the same revenue level while 5 percent expect to have decreased topline figures for 2019.
Sixty-six percent plan to hike selling prices of products and services while 52 percent expressed interest in increasing exports this year, which would aid in growing their revenue base.
Majority of the business executives also said they planned to hire more in 2019 and hoped to boost their salaries over the year.
In terms of research and development, 63 percent were keen on exerting more effort. Fifty-nine percent, meanwhile, were looking forward to investing more on information technology this year.
“While the general outlook for the Philippine economy remains very optimistic, financial constraints are seen as the most significant external barrier to expanding internationally,” Grant Thornton noted.
Other factors seen hampering expansion were corruption concern, regulatory restrictions and trade tariffs.
In the Asean region, optimism stood at 42 percent overall, which is below the 64-percent record last year.
The survey was conducted during the second half of 2018 with 5,000 business leaders coming from 35 countries as respondents.
As published in The Manila Times, dated 28 January 2019