The Commission adopts in its rules financial reporting and auditing standards that are based on international standards and best practices. To ensure consistency in the implementation of the rules and to attain fair presentation and transparency of financial statements, corporations and their accountants/auditors are mandated to faithfully observe the requirements as provided in the SRC Rule 68 (as revised), related Circulars and other pronouncements of the Commission.
The bulletins are issued by the Office of the General Accountant to assist corporations and their accountants/auditors in complying with their financial reporting obligations, and to ensure consistency of implementation. These bulletins may include (i) clarifications on issues pertaining to the implementation of Revised SRC Rule 68; (ii) responses to frequently-asked questions during the submission of financial statements; (iii) views regarding accounting-related disclosure practices; and (iv) such other information that is useful to attain consistency in the implementation of the financial reporting rules and regulations of the Commission. Excluded from coverage are matters not of general application or those issues specific to a particular company.
Financial Reporting Bulletins (Revised as of 2022)