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Complex Request for Opinion and/or Clarification on Accounting Matters

To clarify and/or interpret the following rules and guidelines for effective implementation and compliance:

  ● Revised SRC Rule 68;

  ● Philippine Financial Reporting Standards (PFRS)/ PFRS for Small and Medium Entities (SMEs) /PFRS for Small Entities (SEs) and interpretations;

  ● Philippine Standards on Auditing and related standards;

  ● Related rules of the Commission in financial reporting and audit;

  ● Guidelines; and

  ● Any subsequent official pronouncements, interpretations and rulings on accounting and reporting matters, which may be issued by the Commission from time to time.

Division &
Office of the General Accountant (OGA) – Accounting and Audit Policy Division
Classification: Complex (7 days)
Type of Transaction: G2C – Government to Citizen
G2B – Government to Business
G2G – Government to Government
Type of Service: External Service
Who may avail: All
Guidelines During
Request letter for Opinion (one original) Applicant
Supporting documents, if any. (one original) Applicant


1. Presents letter-request for Opinion and supporting document or send via email to 1. Prepares Payment Assessment Form (PAF) and instructs applicant to process payment and present copy of O.R. None 10 minutes Executive Assistant
2. Receives the PAF and pays the required fees. 2. Processes payment and issues O.R. PHP25,000.00 (per issue and per company) 10 minutes Executive Assistant
The client may choose to pays via Electronic System for Payment to the SEC (eSPAYSEC) or over the counter payments at any Landbank branch nationwide.   If paid via eSPAYSEC, an electronic official receipt is generated which will serve as the official copy of the Client.     eSPAYSEC
    If paid via Landbank branch, the bank will issue a machine-validated onColl Payment slip which will serve as the proof of payment of the Client.     Landbank
3. Submits a copy of proof of payment via eSPAYSEC or Landbank to the OGA with the application and its supporting documents, if any 3. Inputs Letter-Request for Opinion or Memorandum referred by the Operating Department to Index Tracking System and forwards the same to the Assistant Director for assignment. None 5 minutes Executive Assistant
    3.1. Forwards document to assigned personnel   5 minutes Assistant Director
    3.2. Evaluates the request.   5 days Assigned Personnel
     3.2.1. 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.  
    3.3. Reviews Advisement Letter or Memorandum for presentation to Commission en Banc.   1 day Supervising Accountant
    3.4. Reviews and discuss Advisement Letter or Memorandum. If the Letter/Memorandum is satisfactory, endorse the same to the General Accountant.   4 hours Assistant Director
    3.5. Reviews and signs Advisement Letter or Memorandum.   2 hours General Accountant
     3.5.1. If there is a submission of additional documents, GO TO STEP 3.2.   30 minutes Assigned Personnel
    3.6. Logs/Updates Index Tracking System   10 minutes Index Tracking Personnel
TOTAL PHP25,000.00 (per issue and per company) 7 days

Notes: The above processing time commences upon actual receipt of documents and payment of processing fee. It excludes the response period to comment and extension