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2004 Annual ReportANNEX QPIDS PROVIDENT FUND INC.AUDIT CERTIFICATEINDEPENDENT AUDITOR’S REPORTThe Board of TrusteesPIDS Provident Fund, Inc,106 Amorsolo StreetNEDA Sa Makati Bldg.Makati CityI have audited the accompanying Statement of Financial Condition of PIDS Provident Fund, Inc. as of December 31,2004 and the related Statements of Operations and Cash Flows for the year then ended. These Financial Statements arethe responsibility of the Provident Fund’s management. My responsibility is to express an opinion in these financialstatements based on my audit.I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan andperform the audit to obtain reasonable assurance that the financial statements are free from material misstatement/s. Myaudit included examining on a test basis, evidences supporting the amount and disclosures in the financial statements. I alsoincluded assessing the accounting principles used and significant estimates made by the management as well as evaluatingthe overall financial statements presentation. I believe that my audit provides reasonable basis for my opinion.In my opinion, the financial statements referred to above present fairly in all material respects, the financial position ofPIDS Provident Fund, Inc. as of December 31, 2004, and the results of operations and cash flows, for the year thenended, in conformity with generally accepted accounting principles.Certified Public AccountantPTR No. 0014947Date: January 31, 2005March 20, 200555