Today is September 26, 2018

010 – Entities in the process of filing their financial statements for the purpose of issuing any class of instruments (whether shares of stock or bonds) in a public market

Bulletin No.

Subject Matter

Clarification/Details

010

Entities in the process of filing their financial statements for the purpose of issuing any class of instruments (whether shares of stock or bonds) in a public market

 

Financial statements to be filed by entities for the purpose of issuing any class of instruments (whether shares of stock or bonds) in a public market are required to comply with the provisions of Part II of the Rule, including Annexes 68-D and 68-E.  Likewise, the following documents are to be filed with the financial statements, as required by Part I, Section 4 of the Rule:

 

(1)      Issuers of securities to the public and stock corporations with unrestricted retained earnings in excess of 100% of paid-in capital stock - A Reconciliation of Retained Earnings Available for Dividend Declaration which shall present the prescribed adjustments as indicated in Annex 68-C of this Rule.

 

(2)      Listed companies and investment houses that are part of a conglomerate or group of companies - A map showing the relationships between and among the companies and its ultimate parent company, middle parent, subsidiaries or co-subsidiaries, and associates.

 

(3)      Large and/or publicly-accountable entities - A schedule, in table format, showing in the first column a list of all the effective standards and interpretations under the PFRS as of year-end, and an indication opposite each in the second column on whether it is "Adopted". "Not adopted" or "Not applicable".

 

The above components should be covered by an auditor’s report.