What to Prepare for the Audit Season

Businesses operating in the Philippines, unless exempt by the law, are required to submit certain accounting, finance, bookkeeping, and tax-related documents to various regulatory agencies on a yearly basis. With less than a month from the start of audit season, now is the time to start putting your books, accounts, and finances in order. 

Here’s what you need to prepare for the audit season:

  • Previous year’s financial statements
  • Current year’s audited financial statements 
  • Audited books of accounts
  • Reconciled account balances
  • Supporting documents and information
  • Annual income tax returns
  • Other required attachments

To ensure that the company’s financials are accurate and have been prepared in accordance with the financial reporting standards and local tax compliance requirements, the BIR and SEC deems that the financial statements must first be audited, certified, and signed off by an independent auditor. Good thing, MP Camaso and Associates is licensed and accredited to carry out these statutory obligations for you, so you can navigate your business through the audit season with ease and confidence. 

Email us at mpcamaso@mpca.com.ph to get your business audit-ready as early as today!