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, 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
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(SGD.) EUGENE T. MATEO |
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Chairman
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(SGD.) MA. VIOLETA V. VICENTE
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Vice-Chairman
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(SGD.) JOHN S. BALA
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(SGD.) SOLITA V. DELANTAR
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Member
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Member
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(SGD.) FROILAN G. AMPIL
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(SGD.) ESTELITA C. AGUIRRE
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Member
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Member
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ATTESTED:
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CARLOS G. ALMELOR
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Secretary, Professional Regulatory Boards
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APPROVED:
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(SGD.) ANTONIETA FORTUNA-IBE
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Chairperson
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(SGD.) AVELINA DELA REA-TAN
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(SGD.) LEONOR TRIPON-ROSERO
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Commissioner
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Commissioner
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