Grant Thornton is P&A global partner

Benjamin R. Punongbayan, chairman and managing partner of Punongbayan & Araullo (P&A), has announced that P&A is joining and has been admitted as the member firm in the Philippines of Grant Thornton International.

P&A is the third largest accounting firm in the Philippines with 15 partners and 420 personnel presently. P&A is engaged in a full-range of professional accounting practice in the areas of audit, tax, corporate finance and business support services.

Grant Thornton is one of the world’s leading organizations of accounting and consulting firms providing assurance, tax and specialist advice to fast growing, entrepreneurial businesses and their owners. They operate in 110 countries bringing together some 22,000 personnel in 585 offices.

Punongbayan expressed confidence that its affiliation with Grant Thornton "will help us achieve our growth objectives in the long-term and fits well into our current market strategies, particularly that of focusing on entrepreneurial growth companies, especially those that would like to raise capital through public listing and similar channels."

For its part, Grant Thornton International, through its Global CEO, David C. McDonnell, said that "we are proud of our new affiliation in the Philippines as P&A provides our international network a very significant presence in the country and gives us a strong and wide base to meet good opportunities in the Philippines and the Asia Pacific region as a whole further expand their economic growth in the future."