Opinion on Accounting Matters


Opinion on Accounting Matters

Schedule of Availability of Service:
Monday to Friday, 7:00 AM to 6:00 PM (no noon break)

Who May Avail of the Service:
Corporations or other interested parties with request for Opinion on Accounting Matters

What Are the Requirements:

1.Request letter for Opinion; and
2.Supporting documents, if any

How to avail of the service:

1Presents letter-request for opinion and supporting documentPrepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier10 minutesExecutive AssistantLetter duly signed by authorized officer/person 
2Presents the PAF at the Cashier and settles the required feeProcesses payment and issues O.R.10 minutesCashierFiling Fee:
P25,000(complex issues)
P10,000 (non-complex issues)
1Submits the machine-validated PAF to the OGA with the application and its supporting documents, if anyInputs Letter-Request for Opinion or Memorandum referred by the Operating Department to Index Tracking System and forwards the same to the Supervising Accountant for assignment.3 minutesExecutive Assistant  
2 Forwards document to assigned personnel2 minutesSupervising Accountant  
3 Evaluates the request.    
In case of the simple case and/or no additional documents are needed for the evaluation, prepares an Advertisement Letter or Memorandum containing the results of the evaluation4 hoursAssigned personnel  
In case of complex case and/or additional documents or further research are needed, prepares Advisement Letter to requesting party that the subject matter is under evaluation and may require submission of additional requirements.16 hours   
4 Reviews Advisement Letter or Memorandum30 minutesSupervising Accountant  
5 Reviews and signs Advisement Letter or Memorandum10 minutesGeneral Accountant  
6 If there is a submission of additional documents, GO TO STEP 31 hourAssigned personnel  
7 Logs/Updates Index Tracking System2 minutesExecutive Assistant  
Pre-evaluation of application:20 minutes
Processing of application:1-3 days
Total duration:1-3 days and 20 minutes

* Exclusive of mailing and response period. The above processing time commences upon actual evaluation of the application documents and not on receipt of documents. Processing of application is dependent on the number of comment/ supplemental letters sent which are contingent on the completeness of responses/documents.