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(NAR) VOL. 15 NOS. 3-4 / JULY / SEPTEMBER
[ PRC BOARD OF ACCOUNTANCY RESOLUTION NO. 12, SERIES 2004, February 09, 2004 ]
ADOPTION OF THE PHILIPPINE AUDITING PRACTICE STATEMENT (PAPS) 1008 - RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATIONS
WHEREAS, the Auditing standards and Practices Council (ASPC) had approved the Philippine Auditing Practice Statement (PAPS) 1008 - RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATIONS" and submitted to the Board for approval;
WHEREAS, after a study and review of the provisions of the said document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATIONS" (PAPS 1008) as adopted by the ASPC, the Board finds the same to be well-taken and instructive for compliance by practicing Certified Public Accountants;
WHEREFORE, the Board resolved as it hereby resolved to adopt the document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATION" (PAPS - 1008) as part of the Philippine Standards of Auditing;
RESOLVED FURTHER, that this Resolution and the document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATION" (PAPS 1008) shall take effect after fifteen (15) days following their publication in the Official Gazette or in a newspaper of general circulation in the Philippines, whichever is earlier.
Adopted: 09 February 2004
WHEREAS, after a study and review of the provisions of the said document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATIONS" (PAPS 1008) as adopted by the ASPC, the Board finds the same to be well-taken and instructive for compliance by practicing Certified Public Accountants;
WHEREFORE, the Board resolved as it hereby resolved to adopt the document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATION" (PAPS - 1008) as part of the Philippine Standards of Auditing;
RESOLVED FURTHER, that this Resolution and the document entitled "RISK ASSESSMENTS AND INTERNAL CONTROL - CIS CHARACTERISTICS AND CONSIDERATION" (PAPS 1008) shall take effect after fifteen (15) days following their publication in the Official Gazette or in a newspaper of general circulation in the Philippines, whichever is earlier.
Adopted: 09 February 2004
(SGD.) EUGENE T. MATEO | |
Chairman | |
(SGD.) MA. VIOLETA V. VICENTE | |
Vice-Chairman | |
(SGD.) JOHN S. BALA | (SGD.) SOLITA V. DELANTAR |
Member | Member |
(SGD.) FROILAN G. AMPIL | (SGD.) ESTELITA C. AGUIRRE |
Member | Member |
ATTESTED: | |
CARLOS G. ALMELOR | |
Secretary, Professional Regulatory Boards | |
APPROVED: | |
(SGD.) ANTONIETA FORTUNA-IBE | |
Chairperson | |
(SGD.) AVELINA DELA REA-TAN | (SGD.) LEONOR TRIPON-ROSERO |
Commissioner | Commissioner |