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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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Tax compliance
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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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Business consulting services
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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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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
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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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PH on top 3 in global business optimism
03 Jan 2016The Philippines’ optimism rating has slightly declined but the country still remained on the top three position in business optimism in 2016, a global survey showed.
New research from Grant Thornton’s International Business Report (IBR), a quarterly global survey of business leaders in 36 economies, revealed that businesses in the Philippines are resolute in their optimism for the coming 12 months.
With expectations for revenue, selling prices, employment and profitability, the Philippines got an optimism rating of 84 percent to land third among 36 countries surveyed.
Businesses were most optimistic in India with 89 percent followed by Ireland at second place with 88 percent.
In the Philippines, business optimism had a slight decrease from 86 percent to 84 percent in the fourth quarter but nonetheless remained in the top globally. Businesses have good expectations for revenue, selling prices, employment, and profitability, according to the survey.
Regionally, business optimism of Asia Pacific firms are particularly resilient. The survey showed that business optimism across the region has increased from 20 percent to 31 percent in the fourth quarter, and is higher than the 27 percent recorded this time last year.
Businesses in neighboring economies such as Thailand have reported a drop in optimism from 26 percent to 10 percent in the fourth quarter, as well as Malaysia (30 percent to 20 percent). China, on the other hand, reported a 10 percent increase.
Marivic Españo, chairperson and CEO of P&A Grant Thornton, said: “Fears over the slowdown of the Chinese economy caused a shock to the system in 2015, and in the fourth quarter, the optimism of Asia Pacific businesses plummeted. The good news is that it has improved since then. This is partly because the rebalancing of the Chinese economy creates new opportunities; demand for raw materials will not reach the heights we saw in recent years but as the need for services will continue to grow.”
“At the same time, increasing numbers of firms across Asia Pacific are looking further afield in 2016 and exploring growth opportunities around the world. This is reflected in their improved levels of optimism,” Españo continued.
Grant Thornton’s research finds that despite revenue expectations in China falling from 33 percent to 21 percent this quarter, across Asia Pacific they have only shifted from 38 percent to 36 percent.
Similarly, Chinese export expectations have slipped from 14 percent to just six percent but across the region they have held at 11 percent, down from 12 percent.
Globally, business optimism heading into 2016 stands at net 36 percent – only slightly down from the third quarter in 2015 and just above the 35 percent recorded a year ago.
A net 38 percent of EU businesses are optimistic about their economy over the next 12 months, the same as in the previous quarter. Businesses in Latin America report big quarterly increases in optimism.
“The global economy continues to change and evolve, with shifting landscapes in major economies creating new challenges but also new opportunities. Those businesses with an instinct for growth will be best placed to spot these emerging pockets of opportunity, build new trade links, and make the most of the brighter outlook being reported for 2016,” Españo added.
As published in Manila Bulletin Online dated 03 January 2016