Audit & Accounting Alerts
Audit & Accounting Alerts
Any changes to the Audit and Accounting regulations must be noted as they can also change how a firm handles its finances. Staying compliant with these rules are important to avoid legal repercussions. We've compiled the most relevant and applicable audit and accounting issuances to keep clients updated.
Audit reports in the Philippines
This guide explains the four different types of audits in the Philippines:
Unqualified Opinion/Unmodified Opinion, Qualified Opinion, Disclaimer Opinion, and Adverse Opinion.
Insurance Commission showcases new Net Worth requirements and options for disclosing minimum information
The Insurance Commission (IC) answers the most frequently asked questions regarding Fiduciary and Net Worth Requirements along with the new options for disclosing minimum information in financial statements.
Important Technical Update for audit released on November 2022
Mazars Audit Director, Gladys Bondoc-Tiburcio, highlights the most critical changes to the field of audit in her technical update for November.
The “THREE LETTERS”
Suspension lifted for field audit/operations and Mission Orders
Clarifications on the removal of the 5-year validity period on receipts/invoices
The Bureau of Internal Revenue (BIR) provides new provisions regarding the removal of the five (5) year validity period on receipts/invoices.