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Compliance with reportorial requirements of the Securities and Exchange Commission (SEC)  is crucial for corporations in the Philippines. These rules ensure transparency, protect investors, and safeguard the integrity of financial reporting. Under the Revised Corporation Code (RCC)  and recent SEC Memorandum Circulars, corporations — whether stock, non-stock, domestic, foreign, or one-person corporations (OPCs) — are bound by strict filing requirements and deadlines. This art

Why Understanding the Business Matters Auditors don’t just review numbers—they must deeply understand the business itself. According to PSA 315 (Revised) , the goal is to identify and assess the risk of material misstatement (ROMM)  in financial statements. This requires examining the entity’s operations, environment, controls, and industry to tailor audit procedures effectively. By doing so, auditors provide reasonable assurance  that financial statements are free from mater

Overview The presentation outlines the key stages, challenges, and remedies  in conducting financial statement audits for small entities....

In an evolving professional landscape, Certified Public Accountants (CPAs)  play a vital role not only in ensuring financial transparency...