RAFTS COMPREHENSIVE CONSULTING CORPORATION
Credits Refunds Assessments & Fulfillments
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Are you ready for the new requirements of the Board of Accountancy (BoA)
The Bureau of Internal Revenue (BIR) circularized Board of Accountancy (BOA) Resolution No. 3, Series of 2016 entitled “Requiring the Submission of Certificate by the Responsible Certified Public Accountants on the Compilation Services for the Preparation of Financial Statements and Notes Thereto” via BIR Revenue Memorandum Circular (RMC) No. 21-2016.
One of the important things to note from the Resolution is the requirement that annual financial statements (FS) of companies with gross sales exceeding P10 million should be accompanied by a “Certificate on the Preparation of Financial Statement and Notes to the Financial Statements.” The requirement shall be mandatory for reporting period ending June 30, 2016 and subsequent periods. The Certificate can be issued only by a BOA-accredited CPA who can either be an employee of the company or a CPA in public practice contracted by the company. Corresponding penalties and sanctions await those who will violate any provision of this Resolution. In addition, companies who fail to comply with the Resolution also run the risk of having their FS documents not accepted by the BIR and the SEC.
What can you do?
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Hire a CPA accredited by the BoA in Commerce and Industry, or
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Contract a CPA in public practice accredited by the BoA to render Compilation Services for you.
How can we help you?
Our company has CPAs accredited by the BoA with extensive experience in accounting services, including compilation (i.e., FS preparation). Feel free to contact us so we can discuss your requirements further. You may reach us through any of our contact details below.
Company Name: CRAFTS Comprehensive Consulting Corporation
Look for Maricel Tee-Yaranon, CPA
Email: mtyaranon@craftscorporation.com
Contact Nos:
0917-7759278 (Globe)
0925-7899008 (SUN Trinet)
(02) 871-8746(Landline)
