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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:
| STEP | APPLICANT/CLIENT | SERVICE PROVIDER | DURATION OF ACTIVITY | PERSON IN CHARGE | FEES | FORM |
| PRE-EVALUATION PROCEDURES | ||||||
| 1 | Presents letter-request for opinion and supporting document | Prepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier | 10 minutes | Executive Assistant | Letter duly signed by authorized officer/person | |
| 2 | Presents the PAF at the Cashier and settles the required fee | Processes payment and issues O.R. | 10 minutes | Cashier | Filing Fee: P25,000(complex issues) P10,000 (non-complex issues) | |
| PROCESSING PROCEDURES | ||||||
| 1 | Submits the machine-validated PAF to the OGA with the application and its supporting documents, if any | Inputs 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 minutes | Executive Assistant | ||
| 2 | Forwards document to assigned personnel | 2 minutes | Supervising 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 evaluation | 4 hours | Assigned 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 Memorandum | 30 minutes | Supervising Accountant | |||
| 5 | Reviews and signs Advisement Letter or Memorandum | 10 minutes | General Accountant | |||
| 6 | If there is a submission of additional documents, GO TO STEP 3 | 1 hour | Assigned personnel | |||
| 7 | Logs/Updates Index Tracking System | 2 minutes | Executive Assistant | |||
| Duration: | |
| 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.