Financial statement audits give assurance over information used by investors and the capital markets.
Independent, quality financial statement audits.
Our audit has transformed widely with the use of technology to adapt to today’s digital world. We provide you enhanced quality and insights while complying with regulations and professional standards.
Financial Statements Audit
An independent audit of the financial statements contributes to investor confidence and to effective functioning of capital markets.
Our audit approach is based on a consistent methodology developed to comply with professional standards. It is built on the basis of our core principles which all KPMG professionals adhere to and comply with the utmost level of professional integrity, independence and ethical behavior. It is enhanced by an established set of supervision, review and consultation standards and use of the latest tools and technologies that assist our teams in accessing knowledge - all designed to help us focus on the issues that impact judgments, improve the effectiveness and efficiency of the audit and provide enhanced quality and insights to organizations.
Organizations are required to obtain independent verification of financial and other information reported to the regulators. In some cases, organizations voluntarily seek independent verification to avoid factual errors and the risk of noncompliance.
In addition to the traditional financial statements audit, organizations have additional requirements for independent, objective assurance on financial information, non-financial information, transactions and processes.
Beyond Audit is about listening to your concerns and using our skillset to provide enhanced quality and insights to you.
We provide attestation services that are designed to help you address specific issues. These include prospective reporting and other forms of attestation.
Companies prepare prospective financial information in a context where there is a regulatory requirement to be reported on by an independent, external firm. Examples include prospective financial information presented in prospectuses in certain jurisdictions.
Where appropriate, we provide relevant reports on the prospective financial information in accordance with applicable reporting requirements. Services are conducted in accordance with International Standards on Audit Engagements or applicable national standards.
Other forms of attestation
We are often called upon to assist organizations in issuing reports on examinations, reviews or agreed-upon procedures. These services cover many needs for attestation outside the financial statements audit requirements. Our audit professionals conduct these services in compliance with international or country-specific standards on audit engagements or related services.
Compilation of Financial Statements
We provide assistance in the preparation and presentation of financial statements in accordance with applicable financial reporting framework. Compilation of financial statements involves applying our expertise in accounting and financial reporting to assist you in the preparation and presentation of financial information, without expressing any opinion or conclusion on the information.
In relation to compilation, we also conduct relevant trainings and seminars to help ensure that Certified Public Accountants (CPAs) identified by an entity in the private sector responsible for the preparation of the entity's financial statements will meet the required minimum Continuing Professional Development (CPD) units as one of the accreditation requirements of the Philippine Board of Accountancy. Scheduled trainings and seminars are offered throughout the year to meet the demands of these CPAs in the private practice.