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SEC Memorandum Circular No. 32 series of 2020

20 Nov 2020

This Accounting Alert is issued to circulate the new circular by the Securities and Exchange Commission (SEC/Commission) on the basis of preparation of audited financial statements for Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs) under SEC Memorandum Circular (MC) No. 32-2020.

SEC Memorandum Circular No. 31 series of 2020

10 Nov 2020

This Accounting Alert is issued to circulate the new circular by the Securities and Exchange Commission (SEC/Commission) on the non-imposition of fines and other monetary penalties for non-filing, late filing, and failure to comply with compulsory notification and other reportorial requirements under SEC Memorandum Circular (MC) No. 31-2020.

SEC Memorandum Circular No. 28 series of 2020

03 Nov 2020

This Accounting Alert is issued to circulate the new requirement by the Securities and Exchange Commission (SEC/Commission) for corporations, partnerships, associations, and individuals to create and/or designate e-mail account address and cellphone number for transaction with the commission under SEC Memorandum Circular (MC) No. 28-2020.

Insights into PFRS 16 - Lease Incentives

13 Oct 2020

This Accounting Alert is issued to provide guidance on lease incentives.

IFRIC 23 - Uncertainty Over Income Tax Treatments

08 Oct 2020

This Accounting Alert is issued to provide guidance on uncertainty over income tax treatments.

IASB issues Interest Rate Benchmark Reform Phase 2

08 Oct 2020

This Accounting Alert is issued to circulate the new amendments published by the International Accounting Standards Board (IASB) on Interest Rate Benchmark Reform in response to the ongoing reform of interest rate benchmarks around the world.

COVID-19 Going Concern Considerations

18 Sep 2020

This Accounting Alert is issued to provide guidance in improving disclosures on going concern.

Extension of Deadlines and Interim Procedures for the Submission of Printed/Hard Copies of Annual Reports

13 Aug 2020

This Accounting Alert is issued to circulate the recent notice issued by the Securities and Exchange Commission (SEC) relative to the extension of deadlines due to the reimposition of the Modified Enhanced Community Quarantine in the NCR and other parts of Luzon.

Guidelines on the Electronic Submission of the Annual Report and Audited Financial Statements to BSP

17 Jul 2020

This Accounting Alert is issued to circulate the recent memorandum issued by the Bangko Sentral ng Pilipinas (BSP) relative to the submission of Annual Report (AR) and Audited Financial Statements (AFS) of banks by electronic means.

IASB Defers the Effective Date of IAS 1 Amendments

17 Jul 2020

This Accounting Alert is issued to circulate the deferral of amendments to IAS 1 by the International Accounting Standards Board (IASB).