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SEC MEMORANDUM CIRCULAR NO. 9 – 2026 Filing of Annual Financial Statements and General Information Sheet

2026-02-16T19:33:30+08:00

The Commission, hereby issues and prescribes the following guidelines on the filing of AFS and GIS for 2026: Section 1. Deadline of Submission. All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, whose fiscal years end on 31 December, shall file their AFS through the SEC Electronic Filing and Submission Tool (eFAST). The deadline for filing of the AFS shall be on 29 May 2026. All corporations under the jurisdiction of the SEC Extension Offices shall be governed by the same schedule in 2026. Section 2. Corporations with Different Filing Schedule. The filing schedule [...]

SEC MEMORANDUM CIRCULAR NO. 9 – 2026 Filing of Annual Financial Statements and General Information Sheet2026-02-16T19:33:30+08:00

Revenue Memorandum Order No. 39-2023

2023-12-18T10:43:38+08:00

Suspension of All Audit and Other Field Operations of the Bureau of Internal Revenue Effective December 16, 2023  All field audits and related field operations by the Bureau of Internal Revenue about the examination and verification of taxpayers’ books of accounts, records, and other transactions are hereby ordered to be suspended from December 16, 2023, to January 7, 2024.  During this suspension period, the issuance of written orders to audit or investigate taxpayers’ internal revenue tax liabilities will be on hold, except the following specific scenarios:  Investigation of cases prescribing on or before April 15, 2024.  Cases involving tax evasion.  Processing [...]

Revenue Memorandum Order No. 39-20232023-12-18T10:43:38+08:00

Quality Assurance Review: A Navigator of Sustainable Future

2022-11-10T07:57:03+08:00

By: Joelex Cortes, CPA The world has been changing a lot and it is a challenge that poses either a  threat or opportunities in the present and future days to come. The business perspective is no exception. Since the financial statements are the product of business operations and  business transactions evolve dynamically, then there is a real need for the quality of the assurance represented through the reports attached on these financial statements. Reliance on the assurance reports of the business owners and its third party-users for business decision-making purposes is proof that the confidence level entrusted to CPAs is their [...]

Quality Assurance Review: A Navigator of Sustainable Future2022-11-10T07:57:03+08:00
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