The top auditing firms in the Philippines include Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst & Young), KPMG, R.G. Manabat & Co. (KPMG Philippines), Isla Lipana & Co. (PwC Philippines), Reyes Tacandong & Co., SGV & Co. (EY Philippines), Navarro Amper & Co. (Deloitte Philippines), and Punongbayan & Araullo. These firms are recognized for their comprehensive auditing, tax, and consulting services, catering to various industries. They play a significant role in ensuring compliance, transparency, and financial integrity for businesses in the country.
EyPwc KPMG Deliotte
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DISADVANTAGES 1. Frauds by management Auditing fails to check planned frauds. The management can play tricks to manipulate the accounts in order to conceal their inefficiencies. The audited accounts could not show the true view. 2. Wrong certificate Auditing is based on many certificates taken from management and other persons. Auditing may fail to provide the desired results. When certificates provides wrong information. 3. Misleading clarification Auditing fails to disclose correct information. The management may not provide correct clarification. The auditor is bound to present his report even of the clarification is not true. 4. No true picture The auditing does not present true picture. Auditing fails to disclose true picture when figures have been manipulated. 5. No correct view Auditing fails to present correct view. There are limitations of accounting so figures are not facts. These figures are based on opinion. Thus auditing is unable to disclose correct view. 6. No suggestion Auditing is not concerned with the management policies. The auditor cannot guide management for better use of capital. He is unable to suggest what should have been done. 7. Absence of honesty Honesty and independence are highly essential traits. The auditor must certify what is true. The absence of honesty and independence means failure of audit purpose. 8. Bias of auditor The auditing fails to present fair view due to bias of an auditor. It is the quality of an auditor that he should be independent. The bias auditing fails to help many people. 9. High cost The audit work is completed without cost. The cost of audit should not exceed of errors and frauds. Auditing fails to serve million of business entities. 10. Past action Auditing is nothing more than checking of past activities. It is not concerned with present or future. The audit fees increase the cost of business. Such cost does not help to improve market standing of enterprises.
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Here's the Big 8....i can't remember who merged to get it from10 to 8 Arthur Andersen Coopers and Lybrand Deloitte Haskins Touch Ross Peat Marwick Earnst & Whinney Arthur Young Price Waterhouse and also KPMG makes 9
Valdes, Abad & Associates Sycip, Gorres Velayo & Co,. Isla,Lipana & Co. Punongbayan & Araullo and Co.
top 10 news in the Philippines (2008)
WHAT ARE THE TOP 10 CORPORATION IN THE PHILIPPINES SINCE 2007-2008?
There are a number of companies that release Top 10 lists, each varying in their conclusions on the top firms. To view some of these lists, check out Forbes' list as starting point for your research.
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EyPwc KPMG Deliotte
yawa
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IBMINTELMcDonaldsSonyGMFordToyotaChryslerNissanMicrosoft
CEBU!
daniel padilla
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