Audit & Assurance

Delivering value as a result of efficient and effective audit and assurance work

We provide audit and assurance services that go beyond numbers. We use only the most up-to-date auditing techniques and procedures that, together with a thorough understanding of each client's business, result in an audit approach fully customized to its needs.

P&A auditors regularly dialogue with clients, so that we may address their most relevant needs and concerns. We strive to provide timely and cost-effective recommendations that enhance internal control procedures and add value to their businesses.

Annual audit

We provide annual financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service. A team-based approach defined by dedication to partner involvement in all engagements -- that's our service commitment locally and globally.

An organization's financial statements are a reference of choice for a variety of users who are required to make decisions. Whether it is a financial institution, a government agency, creditors, shareholders, or potential buyers, every one of your partners requires financial information that accurately reflects the soundness of your organization.

Review engagement

A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that hte management's representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a truly quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.

We conduct semi-annual and quarterly reviews -- depending on your preferences and needs -- that comply with Philippine Standards on Review Engagements 2400: Engagements to Review Financial Statements.

Due diligence and acquisition audit

P&A’s due diligence services help clients maximize the advantages of a contemplated transaction and identify exposures and risks that may become deal-breakers down the road. Our team of auditors and tax advisors, under the direction of due diligence professionals, provides specialized knowledge that clients need in order to make informed decisions. Click here to read more about our due diligence services.

Special audit using agreed-upon procedures

Based on the client's needs and circumstances, P&A will carry out audit procedures that have been agreed-upon with third parties for specific objectives and for reporting on factual findings. We have extensive experience working with third parties such as lawyers, regulatory groups and law enforcement agencies, and we use innovative, state-of-the-art tools and equipment to support our work.

Other audit services

Technical advice and training

We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients' businesses.

Participants are entitled to credited units for Continuing Professional Education (CPE), which are required by the Board of Accountancy.

SEC reporting and compliance

Aside from opinions for audited financial statements, we also accept requests for the preparation of General Form for Financial Statements (GFFS) and other reports, which will be submitted to the Securities and Exchange Commission (SEC) on an as-the-need-arises or annual basis as embodied in the Securities Regulation Code (R.A. 8799).

A ssistance in applying with SEC for an increase in authorized capital stock

P&A can help clients comply with the t echnical requirements set by the SEC for increasing authorized capital stock. We can provide guidance in completing the basic needs and additional requirements depending on the kind of payment on subscription.

Translation of Financial Statements into Japanese Language

We have a Japanese Business Group that has developed a keen understanding of Philippine Financial Reporting Standards, and tax rules and regulations.

Most of the Japanese firms operating in the Philippine economic zones are required by their head office or Japanese counterpart to submit reports on their financial statements, including financial highlights, for a specific operating period. One of the services offered by our Japanese Business Group is assistance in the translation of such financial statements into the Japanese language.