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Guidance in Dealing with Reports Required by the SEC Relating to Increase in Authorized Capital Stock of a Corporation for Cash Consideration or Conversion of Advances to Equity (Previously Philippine Auditing Practice Statement 1003Ph)


Philippine Related Services Practice Notes (PRSPN) are issued by the Auditing and Assurance Standards Council (AASC) to provide practical assistance to practitioners and to promote good practice. They also provide material that auditing firms can use in developing training programs and internal guidance. PRSPN do not have the authority of PSRSs.

This PRSPN does not establish any new basic principles or essentials procedures. Its purpose is to assist practitioners in developing good practice, by providing guidance on the application of the PSRSs or relevant regulations when conducting the engagements. The practitioner exercises professional judgment to determine the extent to which any of the procedures described in this PRSPN may be appropriate in the light of the requirements of the PSRSs, relevant regulations and certain particular circumstances.

This PRSPN of the AASC is not based on a specific International Related Services Practice Notes issued by the International Auditing and Assurance Standards Board of the International Federation of Accountants but was issued to address a specific situation in the Philippines.


March 2022


Download The ED No. PR-001-2022

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