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Reinstatement of CL No. 2016-55

08 May 2024

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter (CL) 2024-11 dated April 17, 2024.

Discount Rates for Life and Non-life Insurance Policy Reserves and Reserves for Long-Term Contracts of Health Maintenance Organizations (HMO) as of 31 March 2024

06 May 2024

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter No. 2024-09 dated April 12, 2024.

Guidelines for Cornerstone Investors in Initial Public Offerings

06 May 2024

This Accounting Alert is issued to circulate SEC Memorandum Circular No. 8 dated April 11, 2024 which provides guidelines for cornerstone investors which have been a feature in some Initial Public Offerings (IPO) in the Philippines and in various jurisdictions.

Updated Fines and Penalties on the Late and Non-submission of AFS, GIS, and Non-compliance with SEC MC 28-2020

08 Apr 2024

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC) Memorandum Circular (MC) No. 6-2024 dated March 27, 2024, which covers the updated fines and penalties on the late and non-submission of audited financial statements (AFS), General Information Sheet (GIS), and non-compliance with SEC MC 28-2020.

Creation of Manual of Regulations for Payment Systems (MORPS)

26 Mar 2024

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Circular No. 1191 dated March 14, 2024 which discusses the manual of regulations for payment systems (MORPS).