-
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
-
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. A team-based approach defined by dedication to partner involvement in all engagements—that’s our service commitment locally and globally. An organization’s financial statements are a reference of choice for a variety of users who are required to make decisions. Whether it is a financial institution, a government agency, creditors, shareholders, or potential buyers, every one of your partners requires financial information that accurately reflects the soundness of your organization.
-
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.
-
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. Participants are entitled to credited units for Continuing Professional Education (CPE), which are required by the Board of Accountancy. CPE is indicative of an individual’s genuine concern for his or her continued growth as a professional. Our team can help in achieving that.
-
Tax advisory
Assistance during tax audit/contesting an assessment We assist clients in handling audits by the Bureau of Internal Revenue (BIR), Bureau of Customs (BOC) and local government units (LGUs) in a systematic and efficient manner. We help evaluate the validity of assessments, determine the appropriate documents and analyses to be submitted, prepare protests, and represent clients in meetings and discussions with government agencies. With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments. Tax opinion and studies We conduct tax studies and provide advice to clients on the tax implications of specific transactions based on relevant laws, regulations, court decisions, rulings, and other relevant issuances. We likewise provide recommendations to address or mitigate tax issues arising from said transactions. Application for tax refund/credit We help clients recover taxes that have been erroneously or excessively paid or withheld through applications for refund or tax credit certificates (TCCs). Applications for refunds or TCCs are recommended for companies that have excess income taxes paid or unutilized creditable withholding taxes as reflected in the final income tax return (ITR), excess unutilized VAT input taxes arising from zero-rated transactions or change in VAT status, unutilized advanced VAT, excise taxes paid on petroleum products sold to tax-exempt entities and international carriers, other national or local taxes erroneously or excessively paid, or penalties imposed without authority.
-
Tax compliance
Tax review We evaluate clients’ overall level of compliance with existing laws and regulations; caution them on procedures and practices that expose them to potential tax liabilities; quantify tax exposures, risks and penalties; and advise them on proper course of action and alternative tax-efficient policies and procedures. Tax due diligence review is particularly recommended for companies that are contemplating expansion, mergers and consolidation, acquisitions, change in ownership, or public listing. Expatriate tax services We ensure the proper and efficient compliance of expatriates with their Philippine income tax obligations. Our services include registration and application for Taxpayer Identification Number (TIN), preparation and filing of annual Philippine income tax return, and payment of tax due in the proper venue and within the allowed period. As a value-added service, we respond to Correspondence Audits/Inquiries by the BIR regarding information declared in the tax return. If desired by clients, we also conduct arrival or departure briefings and interviews to apprise the expatriate of his Philippine tax liabilities. Upon a company’s request, we can compute, on an annualized basis, the total withholding tax due from its expatriate during the taxable year and prepare tax equalization and reimbursement calculations in accordance with company policies.
-
Corporate services
Assistance for incentives availment We help clients evaluate their qualification for incentives under the Board of Investments, the Philippine Economic Zone Authority, the Subic Bay Metropolitan Authority or other special laws. If clients are qualified, we assist them in applying with the concerned government agency for such incentives. Our assistance covers filing of the application and supporting documents, monitoring the progress of the application, meeting/discussion issues, if any, with regulatory authorities, and securing the approval for such incentives. At the clients’ request, we may also assist in ascertaining their compliance with regulatory requirements (to ensure the continued entitlement to incentives), or in justifying the entitlement to such incentives in the event of a challenge by the BIR or other regulatory agencies. Corporate organization and registration 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. We help set up the business and register it with concerned government regulatory agencies, such as the Securities and Exchange Commission, the Bureau of Internal Revenue, the Local Government Unit, the Social Security System and the Bangko Sentral ng Pilipinas. We also assist in notifying and/or securing necessary approvals from government regulatory agencies when there are changes in business activities, business status, or tax-type registration.
-
Tax education and advocacy
Tax advocacy We actively participate in consultation and public hearings conducted by the Bureau of Internal Revenue on proposed tax rules and regulations, serving as a bridge between our clients and the BIR. Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights. Tax seminars and training We offer seminars and training on tax-related developments and special issues of interest to taxpayers. Upon request, we provide customized in-house tax training – designed jointly by P&A and the client – that directly addresses the specific issues of the client’s industry and the training needs of its personnel.
-
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. We can also take over your IA function altogether or work alongside you to create more value for your organization. On a higher level, our Enterprise Risk Management methodology can help your organization identify vital strategies and action plans that address key business risks, thereby enabling you to achieve your overall objective of value creation for stakeholders.
-
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 efficiencies, and beef up controls. This can include analyzing your information technology (IT) applications and infrastructure in order to improve IT governance and strategy, strengthen security, and/or assess business risks and controls related to the use of IT.
-
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. We are one of the few companies accredited by the Philippine Stock Exchange for the conduct of valuation and issuance of fairness opinions. Our consortium with another Grant Thornton office and a Philippine law office is also one of the fourteen (14) members of the panel of transaction advisers of the Public-Private Partnership Center of the Philippines.
-
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.
-
Accounting services
Accounting services Many multinational companies are setting up their accounting offices in the Philippines. These businesses realize that accounting functions can be standardized across companies around the world and handled by an office halfway across the globe for a fraction of the amount needed to maintain an in-house accounting division. 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, such as
-
Staff augmentation services
Staff Augmentation Services It is a familiar enough scenario: A company suddenly has an urgent need for personnel on a short term, project basis to do accounting or accounting-related work. Considering the short-term nature of the work, it becomes very difficult to find interested candidates. Moreover, companies do not need just anybody, but people with sufficient technical accounting skills. P&A Grant Thornton has a pool of skilled accounting specialists who can fill the gap for companies in such situations. We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work. We have a long list of clients that have benefited from our assistance with the following activities: · Migration from one accounting system to another accounting system · Bank reconciliation for several bank accounts that have not been reconciled for years · Data cleansing, such as reconciliation of balances in subsidiary ledgers of receivables and payables with the general ledger balances · Physical counts of inventories and reconciling the results of the physical count with the accounting records · Count of property and equipment; tagging and reconciliation of the count with the accounting records; and properly setting up the property ledgers · Preparation of schedules and documentary supports and requirements during audits by internal and external parties, including government agencies · Preparation of statements of accounts for certain customers · Acting as accounting personnel while regular accounting staff are on leave This is just a sampling of the services we offer, and we can provide more short-term accounting services on short notice. We can adjust the schedules of our people to fit your work hours and we guarantee high-quality service: Our team is made up of technically competent and properly trained people who are prepared to handle your needs.
-
Payroll Processing
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. Payroll processing may look simple, but the process can get complicated, especially as a business expands its manpower. A payroll accountant has to make sure that correct taxes as well as loans of their employees are properly deducted, update the tax status of employees (single, married, no. of dependents, etc.) on a regular basis; monitor work activities during the payroll period (overtimes, sick leaves, vacation leaves, etc.); know which income accounts are taxable or not (de minimis, bonuses within the P82,000 limit, etc.); know the rules and regulations and the latest updates of relevant government agencies (BIR, SSS, Pag-IBIG, PhilHealth, etc.); and ensure that payroll processing and payouts are done on time to avoid employee complaints or dissatisfaction. In addition, the payroll accountant has to ensure that contributions to various government agencies are properly posted to the accounts of the employees. In some companies, payroll processing consumes a significant part of management time: The highest finance or HR officer in the company oftentimes handles management or executive payroll. If payroll is outsourced, the executive officer has better use of his or her time than reviewing or processing the payroll. Moreover, there is the issue of confidentiality – some employees may inadvertently gain access to confidential payroll information when data are lying around during the payroll processing period. Another issue that business owners must watch out for with regard to payroll is fraud. Since the processing of payroll is handled by just one or two trusted persons, oversight may be lax and review may not always be conducted thoroughly, thus fraud happens. P&A Grant Thornton can handle your payroll processing needs so that your management team can focus on your core competencies, enabling you to concentrate on what’s really important to your business . Our team of well-experienced and properly trained professionals can handle your payroll requirements whether you have 10 or 10,000 personnel. In addition to the computation of employees’ pay, P&A Grant Thornton can also provide the following functions under our payroll processing services: Maintain bank accounts exclusively for payroll and payroll-related disbursements Prepare schedules of statutory and internal contributions and obligations File and pay statutory contributions and obligations, manually or electronically Annualize employees’ income tax Provide secure online payslips through our ePayroll facility Handle administration of benefits that needs coordination with government agencies
-
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.
-
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.
Experienced hires
On the lookout for your first or next job? Look no further. P&A Grant Thornton offers a slew of rewarding career opportunities that may just be what you’re looking for!
When you join P&A Grant Thornton, we want you to bring your perspective and stretch yourself every day. With the support of a values-driven organisation and a global network of 62,000+ Grant Thornton colleagues, you will achieve remarkable results for our clients, colleagues, and communities every day. And because of that you can achieve remarkable results.
- Embark on comprehensive, engaging training
We get it. Most onboarding trainings can be monotonous and dragging. That’s why we went to great lengths to ensure that new hires get to know the ideals and core values of the Firm through innovative and practical applications, and beyond just discussions of these company objectives.
When we describe our trainings as comprehensive and engaging, we mean the true sense of these words. When you join P&A Grant Thornton, you gain access to useful tips and insight straight from our experts during our regular training programs.
Have you heard about the benefits of coaching and mentoring sessions? Research show that employees who participate in such programs have better management skills, show improved productivity at work, and gain a heightened sense of self-awareness and discovery. As tried and tested at P&A, we make sure that every employee is given a chance to experience coaching sessions spearheaded by designated work mentors. The result? Happier and more productive employees.
- Get immersed in our innovative work process
They say the only thing that is constant in this world is change. More than retaining talent, The Firm believes that continuous improvement of work processes is key to fostering growth. But we also know that adopting new policies will do little when employees are not part of planning.
So, when we craft and lay down new work policies and programs, we not only carefully consider the welfare of employees; we include their insights too.
- Advance your career (while having fun too!)
We have always believed that keeping employees happy and satisfied is equally beneficial for the company. That’s why, striking a work-life balance is one of our Firm’s priorities. In the end, when employees are happy, they are less prone to work burnout and stress; thus, they are more productive in the workplace.
Looking for an inclusive and diverse work culture? We got you covered! For us, equality, regardless of gender and socio-economic status, should be at the heart of every workplace.
Sounds exciting, right? Here’s what it’s like working at P&A!
P&Aers Testimonials
SHEENA MARIE DAŇO, CPA
Tax Senior Manager
Tax Advisory & Compliance
Two things strike me most. One, P&A truly listens. P&A values the opinions and suggestions of our people in improving our well-being and our work environment. The Firm encourages our voices to be heard and strives to uphold a delicate balance between business and people. It is in P&A that I’ve felt I have a family away from home.
Two, P&A invests in the growth of our people. Opportunities for wholistic development are given across all levels, be it leading a committee or organization, writing a newspaper article, speaking in a webinar, coaching and being coached, or being trained in specialized skills. It is in P&A that I’ve been given the opportunity to go beyond my comfort zone and discover areas that I can improve on.
ELLEN GRACE MADRIAGA, CPA
Senior Lead Consultant
Advisory Services
P&A Grant Thornton is not just a workplace. As cliché as it sounds, it has become my home where I grew up in, professionally. As I look back, I realized that starting a “new chapter" at P&A gave me excitement on how my career would develop in the future. The work may notalways be easy, and can come with technical challenges on my part as I started out as a newbie with only a little knowledge about Advisory, but it has always been said that growth starts the moment you step out of your comfort zone. With the collaborative environment in P&A, teaming up with talented people in different advisory service lines is a motivation for me to always give my absolute best at what I’m working on. I am grateful for P&A for giving me these kinds of career-enhancing opportunities and experiences that pushed me to become a better professional.
Besides the technical knowledge and trainings that I’ve acquired within the Firm, what I am most proud of that P&A advocates to its employees is its supportive and welcoming work culture and environment. The coaching and mentoring initiatives of the Firm is a great gesture to show care and support for employees in achieving not just professional goals, but also personal growth. With this kind of support from people in the Firm, I take pride in being a P&Aer. My stay at P&A has taught me that your co-workers can become your family, and your company can also become your second home.
DIANNE GEORGIA LABALAN, CPA
Audit Semi-Senior
Aduit & Assurance
I have many things for which I am thankful for as a P&Aer. During the tough times brought by the pandemic, P&A has ensured that its employees would not feel alone. Various activities, both trainings and social events, were continuously conducted to promote togetherness despite not seeing each other in person. These efforts have supported us employees to prepare for and eventually overcome the busy seasons while working remotely.
Personally, I am thankful for the senior members of our engagement teams for taking their time to teach and guide me during the challenging times of the busy seasons, and for the friends I gained to whom I share my joys and worries whether work-related or not. I’m glad that I got to experience being a member of the organizing team for social events (e.g., VAO, SER P&Alaro, and year-end party). I'm grateful for the opportunity to be part of the GT Outsourcing team, where I am exposed to a new environment and able to work and learn alongsided our GT UK colleagues. These limitless opportunities and support I received from P&A have greatly contributed to who I am today.
GREJANE SANCHEZ
Senior Finance Analyst I
Business Process Solutions - Secondment
I still remember the day when I got hired. Four years ago, I was sent home after my job interview due to miscommunication. When Igot home, the PCG representative called and asked me where I was because he was waiting for me to sign the job offer. I mentioned that I went home and if they will permit, I will be arriving in a couple of hours. When I arrived; I signed the job offer and started my P&A Journey.
I always have the perception that in order for you to perform well in your job, you must be devoted to it. The tasks may be challenging but enjoying the process is key. I always find myself grateful that I work in an environment where collaboration and accountability are part of the work culture. The job is quite challenging most of the time, but P&A enabled me to show my full potential and allowed me express my ideas. The management gives us the opportunities to perform technical tasks and explore the different industries of clients.
P&A provided me not just with a stable job but colleagues who became lifetime friends. I value all the experiences that I gained when I started working in the Firm. Growth takes place when you prove that you are capable of doing new and challenging things. Striving for growth professionally is what the Firm has instilled in me.
GILBERT C. LINSANGAN
Senior Helpdesk Support
PSSD - Technology Solutions Group
When I think about the opportunities I was given at P&A Grant Thornton, I always remember my late aunt, LSL, a former partner of the company, for providing me the opportunity to have a job here at P&A, which allowed me to enhance my skills and capabilities in the field of computer technology. Over the years, the Firm has enabled me to provide the needs of my family, especially the education of my children. It was what paved the way for me and my family to overcome the trials and challenges thrown to us by life.
Through years of perseverance and hard work, seeing my family live comfortably gives me a feeling of euphoria— a sense of fulfillment and moreover, great pride and honor. Soon enough, I know that so much happiness will envelop me when I witness my two sons achieving their dreams and aspirations in life. That’s why even if the workload multiplies gravely and the tasks become harder, I just learn how to adapt because I'm not doing this for myself alone; I'm doing it for my family. Whoever and whatever I am today, I owe it to P&A Grant Thornton. I am truly proud of the person that P&A has molded me to be.