Today is April 24, 2018

Accreditation of Auditing Firms

Schedule of Availability of Service:

Mondays to Fridays

8:00am-5:00pm without noon break

 

Who May Avail of the Service:

Auditing Firms

 

What Are the Requirements:

AUDITING FIRM

1.  Fully accomplished application form for auditing firm (Initial: SEC Form AuF—002 – Revised 2009;

     Renewal: SEC Form AuF—002-R – Revised 2009)

2.  Certificate of Registration issued by BOA to the firm which is current and effective

3.  PRC/BOA Certification on list of registered partners of the firm

4.  Quality Assurance Manual

5.  Copies of Audited Financial Statements (AFS) of the firm’s top two (2) clients in terms of assets

6.  Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) – for those availing the mutual recognition of accreditation

 

Duration
Pre-evaluation of application:1 hour
Processing of application:2 days
Mailing period (estimate)*:40 days
Total duration:42 days and 1 hour

 

PRE-EVALUATION PROCEDURES

STEPAPPLICANT/CLIENTSERVICE PROVIDER

DURATION OF ACTIVITY

(UNDER NORMAL CIRCUMSTANCES)

PERSON IN CHARGE
1Secures application (SEC Form AuF-002-R (Revised 2009)) form from the OGA.Provides client application form, and checklist of requirements.5 minutesOfficer of the Day of OGA
2Presents application and supporting documents

1.  Pre-evaluates application and supporting documents

a.  If application and supporting documents are not complete, the same are returned to applicant with list of requirements not complied with

b.  If application and supporting documents are complete, the “Officer of the Day” clears application for payment of the prescribed fees (proceeds to No. 2)

30 minutes

Officer of the Day of OGA
2.  Prepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier10 minutes

Executive Assistant

3

Presents the PAF at the Cashier and settles the required fee.

 

Group A

Filing Fee: P20,000.00

LRF*       :         200.00

Total     :   P20,200.00        

 

Group B

Filing Fee: P15,000.00

LRF*       :         150.00

Total     :   P15,150.00        

 

Group C or D

Filing Fee: P5,000.00

LRF*       :         50.00

Total     :   P5,050.00        

 

* Legal Research Fee (LRF – 1% of Filing fee)        

Process payment and issue O.R.10 minutesCashier
4Submits the machine-validated PAF to OGA with the application and its supporting documents.1.  Checks contents and stamps receive the  three (3) sets of application documents

4 minutes

Executive Assistant

2.  Returns one (1) copy of the application documents to the client

1 minute

Executive Assistant