What Are Advisory Services in an Accounting Firm?

Advisory services refer to professional services that help business owners and leaders make better decisions—financially, operationally, and strategically. Unlike audit, which provides independent assurance, or tax, which focuses on compliance, advisory is about helping organizations improve performance, manage risk, and grow sustainably.

In the Philippine setting, advisory services can include business planning, financial modeling, management reporting, process improvement, internal controls strengthening, risk management, digital transformation support, and transaction-related services such as due diligence. These services are often sought when a company is expanding, restructuring, onboarding investors, improving profitability, or addressing operational inefficiencies.

Effective advisory work combines technical accounting knowledge with practical business insight. It translates numbers into decisions—helping management understand where money is being made or lost, what risks are developing, and what actions will improve results.

For SMEs, advisory services are especially valuable because they provide executive-level guidance without the cost of hiring a full-time in-house specialist team. A structured advisory engagement can improve budgeting discipline, cash flow forecasting, pricing decisions, and operational accountability.

Advisory requirements can be technical and case specific. To ensure decisions are aligned with regulations, best practices, and long-term business goals, consult a professional firm like DV Consulting. DV Consulting, led by Danhilson Vivo, CPA, REB, REA, provides practical advisory solutions for Philippine businesses.