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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.
P&A Grant Thornton Celebrates Three Decades of Professional Services in the Philippines
“The Little Firm that could” turns thirty this year, and it does so as it asserts its brand – and value – of Transformational Leadership.
The coincidence couldn’t be more appropriate: Punongbayan & Araullo’s three-decade history has been the embodiment of just that. Whether among its clients and the community, or within its own organization, P&A Grant Thornton has reflected transformational leadership, manifesting itself as authentic, connected, inclusive and purpose-led; as it helps its people, and the companies they serve, become better versions of themselves.
Its own story has certainly been one of transformation.
Founded in 1988 by well – respected professionals in the business community, Benjamin R. Punongbayan and Jose G. Araullo, the first transformation was personal – moving from the familiar and comfortable environment of big companies backing them to being on their own - entrepreneurship. But, it was a studied bet: steeped in the market, Ben Punongbayan and Joe Araullo understood that companies needed the kind of firm they were establishing. The steady stream of clients that came in, and the initial global affiliation they had, validated their daring mid-life move.
In mid-2002, Punongbayan & Araullo underwent its first major corporate transformation, when it separated from its global affiliation. Undaunted, “the Little Firm that could” conferred with its own people and with the clients and set about to soldier on.
They would not remain on their own for long.
Punongbayan & Araullo would undergo another corporate transformation late that same year, re-emerging as a Philippine partner of one of the world’s leading organizations of independently owned and managed accounting and consulting firms, Grant Thornton.
Today, P&A Grant Thornton’s own history reflects the Transformational Leadership it espouses. From its founding, the Firm has grown, reaping the benefits of having helped its people and their clients become better versions of themselves.
Clients benefit from the competence and integrity that have become hallmarks of the Firm’s service delivery. Moreover, they are assured that the teams working on their accounts are able and equipped to help improve their businesses.
From Day One, the firm has invested in its people, enabling them with the training and the tools to better practice their profession. They have also empowered them, giving them a voice in the business, paths toward leadership roles, and a sense of belonging. Indeed, a number of their senior team are long-time employees; some, returnees to the fold.
Facing its fourth decade in the business, P&A Grant Thornton finds itself embracing transformation yet again. Given the challenges in a VUCA world, the Firm is developing transformational leaders and creating a distinctive ecosystem for the future leaders of the Firm and the community at large. Transformational leaders are not only inspirational but are flexible in their style, relentless in pursuit of new ideas, disruptive in their thinking while acting purposefully and courageously and empowering and coaching others. This is a great challenge as the Firm has a very young workforce – many of whom were not even born when Punongbayan and Araullo was established in 1988.
Jessie Carpio, who heads the Business Process Solutions / Outsourcing division (one of the growth businesses) of the Firm acknowledges that with the vast majority of the employees being millennials, management has to adjust to the culture that young people bring. He said coaching and mentoring has been widely championed by management and is a key performance indicator of senior personnel. Moreover, realizing that most of today’s employees no longer see themselves staying long at the Firm, he advises them to learn as much as they can during their stay at P&A Grant Thornton, “so they can have a meaningful experience and bring something to the table in their next job.”
His BPS / Outsourcing division is itself reflective of a changing business environment. He says many of their clients are multinationals who increasingly are opting to stick to their core offerings, and turning to P&A Grant Thornton to handle non-core services that include accounting, staff augmentation, and payroll processing.
The youthful executive also talks excitedly about local startup businesses, a number of which he mentors as part of the Firm’s outreach.
“They know their numbers instinctively,” he says, with equal parts of pride and admiration. “They just have to be guided.”
P&A Grant Thornton may be three decades old now but, led by enabled and empowered executives like Jessie Carpio, it reinvents itself and its offerings, to continue to help its people and its clients become better versions of themselves – just as it did as “The Little Firm that could”, when it first opened its doors in 1988.
And just as a true Transformational Leader does.
As published in The Manila Times, dated 26 January 2018