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Independent Auditor's Report - Sample
Independent Auditor's Report - Sample
Rita Karsada, Batangas City Report on the Financial Statements I have audited the accompanying financial statements of Visayan Marine Industrial Services. which comprise of the balance sheet as of December 31, 2012, the related income statement, statement of cash flows for the year then ended and a summary of significant accounting policies and other explanatory information. Managements Responsibility Management is responsible for the preparation and fair presentation of these financial statements in accordance with Philippine Financial Reporting Standards for SMEs. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility My responsibility is to express an opinion on these financial statements based on our audit. I conducted my audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from materials misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risks assessments, the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements. I believe that the audit evidence I obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial statements present fairly, in all material respects, the financial position of Visayan Marine Industrial Services as of December 31, 2012, and its financial performance changes in equity, and its cash flow for the year then ended in accordance Philippine Financial Reporting Standards for SMEs. Report on the Supplementary Information Required Under Revenue Regulations 15-2010 My audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information on taxes, duties and license fees accompanying the financial statements is presented for purposes of filing with the Bureau of Internal Revenue and is a required part of the basic financial statements. Such information is the responsibility of the management. The information has been subjected to the auditing procedures applied in my audit of the basic financial statements. in my opinion, the information is fairly statement in all material respects in relation to the basic financial statements taken as a whole.
SOCORRO AXALAN BICOL-TAMAYO Board Cert. No. 27297 TIN: 114 - 030 - 425 PTR No. 13112213 Date issued: January 28, 2013 BOA Accreditation No. 1124 Valid Until December 31, 2013 BIR Accreditation No. 09-002278-1-2005
Mobile No. 09215432189 Landline: 043-727-1972 e-mail add: [email protected] March 20, 2013 San Pascual, Batangas