MORNBFI Vol. 1 - Planters Development Bank

APP. Q-3308.12.31CHECKLIST OF BSP REQUIREMENTS IN THE SUBMISSION OF FINANCIALAUDIT REPORT, ANNUAL AUDIT REPORT AND REPORTS REQUIRED UNDERAPPENDIX Q-30[Appendix to Secs. 4190Q (2008 - 4172Q), 4172S and 4172N]The external auditor (Included in the List of BSP Selected External Auditors) shall startthe audit not later than thirty (30) calendar days after the close of the calendar/fiscal yearadopted by the bank. AFS of banks/QBs with subsidiaries shall be presented side by side ona solo basis and on a consolidated basis (QBs and subsidiaries). The FAR shall be submittedby the bank/QB to the appropriate department of the SES not later than 120 calendar daysafter the close of the calendar year or fiscal year adopted by the bank/QB, together with thefollowing:Information/Data RequiredA. FAR1. Certification by the external auditor onthe following:a. The dates of commencement andtermination of audit.Deadline for submissionFor submission together with the FAR notlater than 120 calendar days after the closeof the calendar year or fiscal year adoptedby the bank.b. The date when the FAR and certificationunder oath stating that no materialweakness or breach in the internalcontrol and risk management systemswas noted in the course of the audit ofthe bank/QB were submitted to theboard of directors or country head, inthe case of foreign bank branches; andc. That the external auditor, partners,associates, auditor-in-charge of theengagement and the members of theirimmediate family do not have any director indirect financial interest with thebank/QB, its subsidiaries and affiliatesand that their independence is notconsidered impaired under thecircumstances specified in the Code ofProfessional Ethics for CPAs.2. Reconciliation statement for thedifferences in amounts between theaudited and the submitted BS and ISfor bank proper (regular and FCDU) andFor submission together with the FAR notlater than 120 calendar days after the closeof the calendar year or fiscal year adoptedby the bank.Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-33 - Page 1