Important Note for Supporting Document: Audited Financial Statement
The following guidelines apply to the submission of the year's ending Audited Financial Statement as a supporting document for the application.
1. For Newly Established Firms Applying for New Regular License:
- All pertinent pages of the Audited Financial Statement (Interim) must be included and shall be under the name of the firm. Submission of INCOMPLETE set of Audited Financial Statement shall result to DISAPPROVAL of the application.
- The following documents should be received by the remitting Bank and should be signed by the Certified Public Accountant (CPA) and signed by the Authorized Managing Officer (AMO):
-
i. Audited Financial Statement
(Interim) dated within the last six (6) months
immediately preceding the filing of application.
2. For Old Firms Applying for New Regular License, Renewal of Regular License, Upgrading of Category, New Special License-Foreign, or Renewal of Special License-Foreign:
- All pertinent pages of the Audited Financial Statement (Year End) must be included and shall be under the name of the firm. Submission of INCOMPLETE set of Audited Financial Statement shall result to DISAPPROVAL of the application.
- If the Equity or Net Worth based on the Audited Financial Statement (Year End) of the preceding year fails to meet the capital requirement for category applying for, an Audited Financial Statement (Interim) to reflect the current financial position may be submitted.
- The following documents should be duly received and
stamped by the BIR, signed by the CPA and signed by the
AMO:
- Income Tax Return (Year End);
- Receipt of Income Tax Return; and
- Audited Financial Statement (Year End) for the preceding taxable year.
Audited Financial Statement (Interim or Year End) Pertinent Pages
- Independent Auditor's Opinion Report
- Balance Sheet or Statement of Financial Position
- Income Statement/ Statement of Comprehensive Income
- Statement of Changes in Owner's/ Stockholders' Equity, if applicable
- Notes to Financial Statement
- Bank Certification – dated as of the Balance Sheet Date. Note: Applicable to New Regular License/ Upgrade of Category application only
- Statement of Management Responsibility for Financial Statements
- Statement of Cash Flows
- Quarterly Tax Return and Receipt of Income Tax Return, if applicable
In support to Upgrade of Category application, the following documents MAY be included:
- List of Transportation Equipment under the name of the firm. Download the template from this link.
- LTO Certificate of Registration and current Official Receipt
- List of Real Properties under the name of the firm. Download the template from this link.
- TCT Tax Declaration for Land Properties/ Condominium Certificate of Title and Contract to Sell
- Independent Appraiser's Report, if the properties are stated at its appraised value