Question & AnswerQ&A (PRC BOARD OF ACCOUNTANCY Resolution NO. 88)
The resolution adopts the Philippine Standard on Auditing (PSA) 800, which pertains to the Auditor's Report on Special Purpose Audit Engagements.
It was adopted on October 28, 2002.
Eugene T. Mateo was the Chairman at the time of adoption.
PSA 800 sets the standards and guidelines for auditors when issuing reports on special purpose audit engagements, ensuring consistency and compliance with auditing principles.
Solita V. Delantar and John S. Bala were two of the members who signed the resolution.
The text is available at the Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.
The Professional Regulatory Board of Accountancy approved PSA 800, with the Commissioners of the Professional Regulation Commission also endorsing it.
The Secretary, Carlos G. Almelor, attested the resolution, confirming its legitimacy and proper execution.
It refers to audit services conducted based on specific objectives or criteria that differ from general purpose financial audits, usually tailored for particular users.
The Commissioners were Alfonso G. Abad and Avelina De La Rea-Tan.