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New guidelines set for audit firms

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The Bangko Sentral ng Pilipinas kept the benchmark overnight borrowing and lending rates at their record lows of 3.5 and 5.5 percent, respectively, on Thursday. INQUIRER.net file photo

The central bank has come out with new guidelines for audit firms when dealing with local banks as part of efforts to maintain the stability of the local financial system.

Posted: March 14th, 2014 in Latest Business Stories | Read More »

DOF orders audit of importers’ tax payments

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The Department of Finance has ordered an audit of the tax payments of the country’s top importers.

Posted: March 5th, 2014 in Headlines | Read More »

PH prepares for audit of air safety standards

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The US Federal Aviation Administration may push through with an audit of the Philippines’ air safety standards this month—an exercise seen as a key step for the country in getting a coveted US aviation upgrade, a government official said Monday.

Posted: January 6th, 2014 in Headlines | Read More »

Customs auditing high-end car importers

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Customs Commissioner Ruffy Biazon: Blames corruption. INQUIRER.net FILE PHOTO

All importers of “branded, high-end cars”—not only PGA Cars Inc.—are undergoing an audit of the declared value of their imported units, according to the Bureau of Customs (BOC).

Posted: May 6th, 2013 in Editor's Pick,Headlines | Read More »

COA asks LTO to blacklist license plate supplier

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gjb logo

The Commission on Audit wants a private contractor disqualified from future biddings of the Land Transportation Office for failure to comply with its contract obligation resulting in the delay in the delivery of motor vehicle license plates last year.

Posted: January 23rd, 2013 in Latest Business Stories | Read More »

Sta. Lucia Land penalized by SEC

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sta-lucia-land

The Securities and Exchange Commission has fined property developer Sta. Lucia Land Inc. P407,000 for certain alleged violations such as non-compliance with disclosure requirements.

Posted: September 26th, 2012 in Latest Business Stories | Read More »

P122.4M loss in PNOC-EC coal deal unearthed—audit report

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PNOC-EC

The state-run Philippine National Oil Co.-Exploration Corp. (PNOC-EC) registered losses of more than P122.4 million in an allegedly anomalous importation of almost 70,000 metric tons of Indonesian coal in 2009, according to an internal audit conducted by the energy firm.

Posted: September 21st, 2012 in Latest Business Stories | Read More »

In EU audit, Filipino seafarers’ fate hangs in balance

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The European Union is set to conduct an audit on the state of the country’s maritime education system, the results of which may prove to be either a boon or bane for Filipino seafarers.

Posted: January 16th, 2012 in Headlines | Read More »

Energy dep’t forming team to audit oil firms

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The Department of Energy is constituting a team that will scrutinize the financial statements of six oil companies belonging to the Philippine Institute of Petroleum (PIP) that want to clear their names of allegations of overpricing and collusion.

Posted: November 2nd, 2011 in Latest Business Stories | Read More »

CoA: DBP audit not complete or conclusive

The head of the Commission on Audit on Wednesday said that while the agency has uncovered something during its audit of the transactions of state-owned Development Bank of the Philippines, its audit was neither complete nor conclusive. CoA Chairperson Grace Tan told reporters at the sidelines of a forum held by the Financial Executives Institute [...]

Posted: August 25th, 2011 in Headlines | Read More »

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