Audit Services
Thorough, independent financial audits that give you and your stakeholders confidence in the accuracy of your records.
What It Is / Who Needs It
An independent audit is a formal examination of your company's financial statements by a Certified Public Accountant accredited to practice public accountancy in the Philippines required once your business crosses the SEC or BIR AFS thresholds we outlined on our AFS Preparation page, and often required by banks, investors, or government agencies before approving a loan, grant, or bid. Beyond compliance, an audit gives you and your stakeholders independent assurance that your financial statements are accurate and free from material misstatement.
What's Included in B&P's Service
Planning and risk assessment for your audit engagement
Testing of internal controls and account balances
Examination of financial records against Philippine Standards on Auditing (PSA)
Preparation of the formal Independent Auditor's Report
Coordination of the audited statements for SEC/BIR submission
Requirements / Documents needed
✓ Complete financial records and books of accounts for the audit period
✓ Bank statements and confirmations
✓ Prior year's audited financial statements (if applicable)
✓ Supporting schedules (receivables, payables, fixed assets)
✓ Board resolutions or management representations as needed
Process & Typical Timeline
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Engagement & planning
Audit scope, timeline, and risk areas are defined
Fieldwork
Records, transactions, and internal controls are examined and tested
Review & discussion
Findings are discussed with management before finalizing
Reporting
The signed Independent Auditor's Report is issued, ready for SEC/BIR filing
Why it matters
Only a CPA accredited by the Board of Accountancy and registered to practice public accountancy can lawfully sign your audited financial statements and all registered CPAs are required to maintain membership in the Philippine Institute of Certified Public Accountants (PICPA) as part of that standing. An audit conducted by someone without proper accreditation can mean your AFS gets rejected outright by the SEC or BIR, forcing a costly redo right when you're up against a filing deadline. Getting it done right the first time protects both your compliance standing and your credibility with banks, investors, and partners.
