Are Audits Only for Compliance? Most business owners view audits as something they have to do for the BIR, the SEC, a bank loan, or investor requirements. But when you step…
1. Incomplete or Unsupported Expenses This is one of the most common findings among SMEs. Even legitimate business expenses can be disallowed if supporting documents are missing or incorrect. Typical Issues Missing…
What Is an External Audit? An external audit is a yearly review of your financial statements by an independent CPA. The goal is to check whether your books are accurate, complete, and fairly presented. …
Why Choosing the Right External Auditor Matters Selecting an external auditor is more than a compliance task it’s a business decision that affects how regulators, banks, and investors perceive your company. The right audit…
Why SMEs Need a 30-Day Audit Preparation Plan Many SMEs in the Philippines only begin preparing once audit season starts — usually in Q1 or a few weeks before the…
The Hidden Cost of Rushed Audits Many businesses only start preparing their financial statements once “audit season” arrives — usually in March or early April. By then, accountants are racing…
Quick Answer: What Happens if You Don’t Comply with BIR Rules in 2025? Under the Ease of Paying Taxes (EOPT) Law – RA 11976, the BIR has streamlined processes but…
Do You Need to File an Audited Financial Statement in 2025? Quick Answer: If you’re a business owner in the Philippines, your filing obligations depend on the nature of your…
Worried About a BIR Audit? Here Are 5 Red Flags That Could Trigger One in the Philippines Late filings? Mismatched tax reports? Missing receipts? These aren’t minor oversights — they’re…
Why Closing Your Books Properly Matters If you’re running a business in the Philippines, whether it’s a corporation, partnership, or SME, closing your books properly before year-end is non-negotiable. It's…