8/17/2017 External Auditor - Securities and Exchange Commission

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Today is August 17, 2017 Home Services Accreditation Initial Application External Auditor

Initial Application
External Auditor
Auditing Firms

Asset Valuers/Appraisal Company

Credit Rating Agencies

Surety Companies

Training Providers

Accreditation of External Auditors

Schedule of Availability of Service:

Mondays to Fridays, 8:00am-5:00pm without noon break

Who May Avail of the Service:

Individual Practitioners/External Auditors

What Are the Requirements:

1. Fully accomplished application form for external auditor (Initial: SEC Form ExA-001 Revised 2009; Renewal: SEC Form ExA-001-R Revised
2009).
2. Certificate of Registration as public practitioner issued by BOA
3. Copies of certificates of participation in seminars/trainings (Initial: 60 CPE units; Renewal: 90 CPE units)
4. Quality Assurance Manual
5. In case of Group A, B, and C accreditation, notarized certification that the applicant has fundamental knowledge of the regulatory requirements on
each of the other secondary licensees of the Commission.
6. Copies of Audited Financial Statements (AFS) of the applicants top two (2) largest clients in terms of assets.
7. Certificate of Accreditation issued by the Bangko Sentral ng Pilipinas (BSP) and Insurance Commission (IC) for those availing the mutual
recognition of accreditation.

Fees:

Group A Group B Group C or D

Filing Fee: P5,000.00 Filing Fee: P3,000.00 Filing Fee : P2,000.00
LRF* :50.00 LRF* : 30.00 LRF* : 20.00
Total : P5,050.00 Total : P3,030.00 Total : P2,020.00
* Legal Research Fee (LRF 1% of Filing Fee)

Pre-Evaluation Procedures:

DURATION PERSON
STEP APPLICANT/CLIENT SERVICE PROVIDER OF IN
ACTIVITY CHARGE

1 Secures application form (SEC Form ExA- Provides client application form, and checklist of requirements. 5 minutes Officer of
001 Revised 2009) from the OGA. the Day of
OGA

2 Presents application and supporting 1. Pre-evaluates application and supporting documents. 30 minutes Officer of
documents the Day of

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8/17/2017 External Auditor - Securities and Exchange Commission
a. If application and supporting documents are not complete, the OGA
same are returned to applicant with list of requirements not
complied with

b. If application and supporting documents are complete, the

Officer of the Day clears application for payment of the
prescribed fees (proceeds to No. 2)

2. Prepares Payment Assessment Form (PAF) and instructs applicant to 10 minutes Executive
proceed to the Cashier. Assistant

3 Presents the PAF at the Cashier and Process payment and issue O.R. 10 minutes Cashier
settles the required fee.

4 Submits the machine-validated PAF to 1. Checks contents and stamps receive the three (3) sets of application 4 minutes Executive
OGA with the application and its documents Assistant
supporting documents.
2. Returns one (1) copy of the application documents to the client. 1 minute

Duration:
Pre-evaluation of application:1 hour
Processing of application: 2 days
Mailing period (estimate)*: 40 days
Total duration: 42 days and 1 hour

* Includes mailing of all comment letters, comment and response sheets, and matrix of findings.
* Note :Duration of activity under normal circumstances

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