FULL SET OF

FINANCIAL
STATEMENTS
AND
ATTACHMENTS
 06
05
04
0
02 3
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
WHEN TO FILE THE AUDITED
FINANCIAL STATEMENTS??

120 days after end of reporting

period

On or before the 15th day of the

4th month following close of
the taxpayer's taxable year
 06
05
04
0
02 3
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
01

AUDITOR’S
OPINION
WHAT COMPOSES AN AUDITORS’ REPORT?
Title

Addressee

Auditor’s Opinion

Basis for Opinion

WHAT COMPOSES AN AUDITORS’ REPORT?

Going Concern
(insert if any)

Emphasis of
Matters

Key Audit Matters

Responsibilities
for the Financial
Statements

Auditor’s
Responsibilities
for the Audit of
the Financial
Statements
WHAT COMPOSES AN AUDITORS’ REPORT?

Auditor’s
Responsibilities
for the Audit of
the Financial
Statements
WHAT COMPOSES AN AUDITORS’ REPORT?

Other Reporting
Responsibilities

Signature of Auditor

Name of Engagement Partner

Partner’s and
Firm’s
accreditation

Auditor’s Address

Date of Auditor’s Report

 06
05
04
0
02 3
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
02

STATEMENT OF FINANCIAL
POSITION

STATEMENT OF FINANCIAL
CONDITION
 STATEMENT OF FINANCIAL POSITION
1

CORPORATION

5 2

LENDING COMPANIES SCHOOLS

4 3

BANKS FOUNDATION
STATEMENT OF FINANCIAL CONDITION

COOPERATIVES
STATEMENT OF FINANCIAL POSITION / CONDITION
Name of Company
Financial Statement
Period Covered

Group of Accounts
STATEMENT OF FINANCIAL POSITION / CONDITION
Name of Company
Financial Statement
Period Covered

Group of Accounts
STATEMENT OF FINANCIAL POSITION / CONDITION

For first year audit:

“With comparative figures

in (previous year)”
STATEMENT OF FINANCIAL POSITION / CONDITION

For BSFIs (i.e Banks,

Pawnshop, Loan
Association)
 06
05
04
0
02 3
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
0
3

STATEMENT OF ACTIVITIES

STATEMENT OF OPERATIONS

STATEMENT OF INCOME
STATEMENT OF ACTIVITIES

SCHOOLS 01

02 FOUNDATION

STATEMENT OF OPERATIONS

COOPERATIVES 01
STATEMENT OF INCOME

BANKS/ LOAN
ASSOCIATION

CORPORATION LENDING COMPANIES

STATEMENT OF ACTIVITIES/ OPERATIONS/ INCOME
STATEMENT OF ACTIVITIES/ OPERATIONS/ INCOME

No Income Taxes

Distribution of surplus to
Statutory Funds
STATEMENT OF ACTIVITIES/ OPERATIONS/ INCOME

No Income Taxes

Distribution of surplus to
Statutory Funds
STATEMENT OF ACTIVITIES/ OPERATIONS/ INCOME

Net Income and Earnings

Per Share
 06
05
04
03
02
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
04

STATEMENT OF CHANGES IN
EQUITY/ MEMBERS’ EQUITY

STATEMENT OF CHANGES IN
FUND BALANCE
STATEMENT OF CHANGES IN EQUITY

O1 O2 O3 O4
BANKS LENDING
COOPERATIONS COOPERATIVES
COMPANIES
STATEMENT OF CHANGES IN FUND BALANCE

SCHOOLS FOUNDATIONS
STATEMENT OF CHANGES IN FUND BALANCE / EQUITY
STATEMENT OF CHANGES IN FUND BALANCE / EQUITY

Format for BANKS

STATEMENT OF CHANGES IN FUND BALANCE / EQUITY

Format for COOPERATIVES:

Disclosure on movement of Statutory

Funds
STATEMENT OF CHANGES IN FUND BALANCE / EQUITY

Format for COOPERATIVES:

Disclosure on movement of Retained

earnings Free and Reserve and
Undivided Profit or Loss.
 06
05
04
03
02
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
05

STATEMENT OF CASH
FLOWS
STATEMENT OF CASH FLOWS

Format for COOPERATIVES:

“Payment of Interest on
Share Capital and Patronage
Refund”
 06
05
04
03
02
01

NOTES TO
STATEMENT OF FINANCIAL
STATEMENT OF CASH FLOWS STATEMENTS
STATEMENT OF
CHANGES IN EQUITY /
ACTIVITIES / It is an integral
STATEMENT OF FUND BALANCE
OPERATIONS / part of a
INDEPENDENT FINANCIAL POSITION/ INCOME It represents the
It reflects all changes company's
AUDITORS’ CONDITION cash receipts and
in equity in the
REPORT Income cash disbursements external financial
reporting period
Balance Sheet Statement arising from as a result of statements to
A report that This presents an transactions with business activity comply with the
This reports the
expresses the
entity's assets, owners in their full disclosure
auditor’s opinion on
revenues, gains,
liabilities and capacity as owners (ie principle
the preparation of expenses, losses,
owner changes in
FS, and also affirms equity as of a net income and equity) reflecting the
that all of the specific date— other totals for increase or decrease
relevant ethical the end of the the period of time in net assets in the
requirements reporting period. period.
regarding
independence has
met.
06

NOTES TO FINANCIAL
STATEMENTS
NOTES TO FINANCIAL STATEMENTS (FULL PFRS)
NOTES TO FINANCIAL STATEMENTS (PFRS for Coop)
NOTES TO FINANCIAL STATEMENTS (PFRS for SME)
NOTES TO FINANCIAL STATEMENTS (PFRS for SE)
HOW MANY SETS OF
FS TO PREPARE??
 SEC
6 copies

BIR
4 copies
01

CDA
02 2 copies

03 BSP
22 Copies
04
Printing Docket
FS ATTACHMENTS
Certifications Prepared by Management

Statement of Management’s Responsibility for

01 Audited Financial Statements

Statement of Management’s Responsibility for

02 Income Tax Return

03 Treasurer’s Certificate Memo Circular No. 2

Treasurer’s Certificate Memo Circular No. 6

04

05 Sworn Declaration for BIR Forms 2307

 01 Certification per SRC rule 68 re: Stockholdings

02 Statement of Representation

03 Representation Letter for BIR - V20

Attachments to be
04
signed by the Partner
Certification to allow SEC to examine for first time clients

BSP Circular Letter to All Rural/Cooperative Banks No

05 2004-35 (Start and End of Audit)

06 BSP Circular No 529 section 7 – MORB and No. 474 section 1

– MORNBFI (Submission of LOC)

07 BSP Circular No 529 section 7 – MORB and No. 474

section 1 – MORNBFI (Report on Material Weaknesses)

08 Report on supplementary schedule (SEC)

Other Attachments

01 FS Cover Front Page- SEC

FS Cover Front Page- Management Copy

02

FS Cover Front Page- BSP Copy

03

04 Recon of Audited and Per Books Bal and list of AJEs

Sworn Statement of Donations &

05 Brgy. Certification- Foundations

Sworn Statement of Donations &

06 Brgy. Certification- Non-stock Non-profit Corporations
SEQUENCE OF SET OF
AUDITED FINANCIAL
STATEMENTS
SEC
1 SEC Cover

2
FS Cover

3
Certification Issued In Compliance With SRC Rule 68 (Stockholders And Stockholdings
4
Statement of Management’s Responsibility – Audited Financial Statements
5
Independent Auditors’ Report

6
Financial Statements

7
Management Letter Cover, if any

8
Management Letter, if any
BIR
1
Filing Confirmation (eBIR) / Payment Confirmation (EFPS)

2
Income tax Return with attachments (SAWT and 2307)

3
Representation Letter for BIR - V20
4
Statement of Management’s Responsibility – Income Tax Returns
5
Independent Auditors’ Report

6
Financial Statements
CDA
1 FS Cover

2
Statement of Representation

3
Statement of Management’s Responsibility – Audited Financial Statements
4
Independent Auditors’ Report
5
Financial Statements

6
Management Letter Cover

7
Management Letter
BSP
1
FS Cover
2
Certification Required Under Section 7 of BSP Circular 410
3
Statement of Management’s Responsibility – Annual Financial Statement
4
Independent Auditors’ Report
5
Financial Statements
6
Letter of Comments Cover
7
Letter of Comments
8
Reconciliation Statement And List Of Adjusting Journal Entries
GENERAL FORM OF
FINANCIAL
STATEMENTS
GENERAL FORM OF FINANCIAL STATEMENTS

SEC Registered Domestic

Corporations with
basis
Annual Gross Sales or Gross Revenue

of at least
threshold amount
P5,000,000.
GENERAL FORM OF FINANCIAL STATEMENTS

WHEN TO FILE THE GFFS/SFFS?

Submitted within
thirty days (30 how
days)
many days?

from the last day of submission of

the Audited Annual Financial
Statements.
GENERAL FORM OF FINANCIAL STATEMENTS

WHEN TO FILE THE GFFS/SFFS?

Submitted within
thirty days (30 how
days)
many days?

from the last day of submission of

the Audited Annual Financial
Statements.
Assessment
GENERAL FORM OF FINANCIAL STATEMENTS

WHEN TO FILE THE GFFS/SFFS?

Submitted within
thirty days (30 how
days)
many days?

from the last day of submission of

the Audited Annual Financial
Statements.
GENERAL FORM OF FINANCIAL STATEMENTS

SEC Registered Domestic

Corporations with
basis
Annual Gross Sales or Gross Revenue

of at least
threshold amount
P5,000,000.
BIR
1

6
BIR
1
Filing Confirmation (eBIR) / Payment Confirmation (EFPS)

2
Income tax Return with attachments (SAWT and 2307)

3
Representation Letter for BIR - V20
4
Statement of Management’s Responsibility – Income Tax Returns
5
Independent Auditors’ Report

6
Financial Statements
Certifications Prepared by Management

01

02

03

04

05
Certifications Prepared by Management

Statement of Management’s Responsibility for

01 Audited Financial Statements

Statement of Management’s Responsibility for

02 Income Tax Return

03 Treasurer’s Certificate Memo Circular No. 2

Treasurer’s Certificate Memo Circular No. 6

04

05 Sworn Declaration for BIR Forms 2307

STATEMENT OF ACTIVITIES

01

02

STATEMENT OF OPERATIONS

01
STATEMENT OF ACTIVITIES

SCHOOLS 01

02 FOUNDATION

STATEMENT OF OPERATIONS

COOPERATIVES 01