The Bureau of Internal Revenue (BIR) suspended audit operations on 24 November 2025 through Revenue Memorandum Circular (RMC) No. 107-2025, to recalibrate its audit processes, strengthen internal controls, and address longstanding issues such as fake letters of authority (LOAs), unauthorised audits, and inconsistent audit practices. The suspension created the opportunity for the BIR to rebuild its audit framework and restore taxpayer confidence. After the internal reforms were completed, the BIR lifted the audit suspension through RMC No. 82026, allowing audit activities to resume under stricter safeguards and enhanced verification protocols.

From my early days as an audit junior all the way to becoming an audit partner, the moments I treasure most are when I see how our work gives organisations clarity, strengthens their decisions, or helps them operate with integrity. Whether mundane or dramatic, every time I see that our work makes a tangible impact, that’s when I feel that what I do is truly meaningful.  And yet, despite the importance and purpose behind external audit, our work is still too often reduced to stereotypes of routine, pressure, and long hours.

Earlier this year, the Bureau of Internal Revenue (BIR) launched D.A.R.E.S., its five-point reform and legacy agenda. DARES stands for Digital and Data Transformation, Audit Reform and Accountability, Revenue Collection and Base Protection, Employee Empowerment and Welfare Promotion and Service Excellence and Stakeholder Engagement.

The Philippine banking landscape is undergoing a fundamental shift, driven by the growing role of mergers, consolidations, and acquisitions (MCA). For rural and thrift banks, MCA are no longer viewed as exceptional events undertaken only in times of distress.