Today is April 4, 2020

Opinion on Accounting Matters

Request for Opinion on Accounting Matters

Schedule of Availability of Service:
Monday to Friday, 7:00 AM to 6:00 PM (no noon break)

Who May Avail of the Service:
Corporations or other interested parties with request for Opinion on Accounting Matters

What Are the Requirements:

1. Request letter for Opinion; and
2. Supporting documents, if any

How to avail of the service:

STEP APPLICANT/CLIENT SERVICE PROVIDER DURATION OF ACTIVITY PERSON IN CHARGE FEES FORM
PRE-EVALUATION PROCEDURES
1 Presents letter-request for opinion and supporting document Prepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier 10 minutes Executive Assistant Letter duly signed by authorized officer/person
2 Presents the PAF at the Cashier and settles the required fee Processes payment and issues O.R. 10 minutes Cashier Filing Fee:
P25,000(complex issues)
P10,000 (non-complex issues)
PROCESSING PROCEDURES
1 Submits the machine-validated PAF to the OGA with the application and its supporting documents, if any Inputs Letter-Request for Opinion or Memorandum referred by the Operating Department to Index Tracking System and forwards the same to the Supervising Accountant for assignment. 3 minutes Executive Assistant
2 Forwards document to assigned personnel 2 minutes Supervising Accountant
3 Evaluates the request.
In case of the simple case and/or no additional documents are needed for the evaluation, prepares an Advertisement Letter or Memorandum containing the results of the evaluation 4 hours Assigned personnel
In case of complex case and/or additional documents or further research are needed, prepares Advisement Letter to requesting party that the subject matter is under evaluation and may require submission of additional requirements. 16 hours
4 Reviews Advisement Letter or Memorandum 30 minutes Supervising Accountant
5 Reviews and signs Advisement Letter or Memorandum 10 minutes General Accountant
6 If there is a submission of additional documents, GO TO STEP 3 1 hour Assigned personnel
7 Logs/Updates Index Tracking System 2 minutes Executive Assistant
Duration:
Pre-evaluation of application: 20 minutes
Processing of application: 1-3 days
Total duration: 1-3 days and 20 minutes

* Exclusive of mailing and response period. The above processing time commences upon actual evaluation of the application documents and not on receipt of documents. Processing of application is dependent on the number of comment/ supplemental letters sent which are contingent on the completeness of responses/documents.

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