Paps- 1003ph

In: Other Topics

Submitted By grayinthedark
Words 6575
Pages 27
Auditing and Assurance Standards Council

Philippine Auditing Practice Statement 1003Ph


PAPS 1003Ph




Types of Engagements that May be Performed……………………………..


Acceptance of an Engagement Relating to Increase in
Authorized Capital Stock………………………………………………..


Defining the Terms of an Engagement to Perform Agreed-Upon


Reporting on Agreed-Upon Procedures Engagements………………………


Wording of the Auditor’s Representation Letter to Accompany the Agreed-Upon Procedures Report…………………………………….


Effective Date………………………………………………………………..


Appendix 1:

Required SEC Procedures Relating to an Application for
Increase in Authorized Capital Stock as Contained in
SEC Memorandum Circular No. 6, Series of 2008

Appendix 2:

Example Auditor’s Reports on Agreed-Upon
Procedures Engagements

Appendix 3:

Illustrative Auditor’s Representation Letters


PAPS 1003Ph

Philippine Auditing Practice Statements (PAPS or Statements) are issued by the Auditing
Standards and Assurance Council (AASC) to provide practical assistance to auditors in implementing the Philippine Standards on Auditing (PSAs) or to promote good practice.
Statements do not have the authority of PSAs.
This Statement does not establish any new basic principles or essential procedures; its purpose is to assist auditors, and to develop good practice, by providing guidance on the application of the PSAs…...

Similar Documents

Why Is the 2011 Ge Considered to Be a Watershed Election?

...historical context of Singapore’s political scene which has been dominated by the People’s Action Party (PAP) since its independence in 1966. In fact, from 1966 up to 1981, there was not a single opposition Member of Parliament (MP). Among other reasons, one compelling fact was the boycott of the Barisan Socialis in the 1968 elections, allowing the PAP to sweep the polls, capturing all 58 seats and garnering 84.4% of all votes. Since then, the PAP has not looked back, dominating all Parliamentary General Elections while the opposition has failed to make any significant inroads in the political scene. However, it should be noted that over the years, the PAP has had a few upsets along the way with J. B. Jeyaratnam breaking the PAP’s monopoly of the Parliamentary seats with an unexpected victory in the 1981 Anson by-election. The next 3 elections in 1984, 1988 and 1991 then saw a downward swing in PAP’s popular vote, culminating in the PAP garnering only 61.0% of votes and losing 4 seats in 1991. This was significant in the fact that firstly, it was the lowest percentage of votes garnered by the PAP and secondly, it was the most seats lost to the opposition post independence. These trends at that time seemed to suggest that Singaporeans was ready to embrace the opposition after years of effectively living in a “One Party State”. However, that notion was overwritten almost immediately as the PAP came back strongly and reversed the decline, gaining back more than 65% of the votes......

Words: 3203 - Pages: 13

Mc 111 Midterm Pap

...Tyranny and American Democracy Oppression is something dreaded by everyone. This universal fear was a much larger problem in the 1800’s than it is today. Tyranny was a fear that the Federalists, Anti-Federalists, and Alexis de Tocqueville had in common. The Federalists feared tyranny of the majority, or faction while the Anti-Federalists feared tyranny of the aristocracy. Tocqueville feared “soft despotism” but supported tyranny of the patriarchy. While the Federalist and the Anti-Federalists were the visionaries for America who tried to prevent different tyrannies, Tocqueville discusses the hypocrisies in America that the Federalists and the Anti-Federalists were against. The Federalists strongly believed that the newly founded republic needed a large, centralized government in order to discourage tyranny of the majority. Hamilton voices this opinion when he says “a firm Union will be of the utmost moment to the peace and liberty of the States as a barrier against domestic faction and insurrection.” (Hamilton, 66, Federalist No. 9) This is because a large, centralized government uses the system of the checks and balances, which prevent domestic faction and revolt. The Federalists made it clear that they opposed a mob ruling and the minorities being denied their rights. The main danger the new republic faced, they argued, was the superior force of an “interested and overbearing majority.” (Madison, 72, No. 10) The Federalists solution on how to deal with majority faction...

Words: 1795 - Pages: 8

My Pap

...Identify issues The main issue in this case is whether or not B.C. Packers should enter into the canned cat food market. If the analysis shows that B.C. Packers should go ahead with this proposition then it must also be determined which segment of the market that they should target. Analysis Market analysis must be performed on the individual markets before any financial analysis can be performed. This is in order to provide adequate information to estimate the various market shares. The first segment to analyze is the Gourmet brand. The Gourmet segment holds the smallest share of the market in grocery stores but it has a significant share of the market in specialty stores. It is seen as having high quality as a result of its higher price and its consumers tend to have higher incomes (see case). The Gourmet market even though it is not the largest has good potential as a result of it higher margins. The National brand segment has the largest share of the market across all retail types, is price sensitive but does have some brand loyalty, and it also has the most competition (see case). Although the most competitive the National market holds a great deal of potential as a result of its overall market share. The Price brand segment does not have a significant share of the market, it is highly price sensitive and has little brand loyalty, it is comprised mainly of no-name and store brands (see case). As a result of it being made up mainly of store brands......

Words: 334 - Pages: 2

Building Moral Intelligence Pap

...Introduction: The author, Michele Borba, discusses her complete plan for raising good kids using the seven essential virtues that will teach children to do the right thing. Every day there is the worry of general concerns of the health and safety of our youth. Enhancing moral intelligence has become the best hope for getting children on the right path to act as well as think positively. The seven essential virtues consisting of empathy, conscience, self control, respect, kindness, tolerance and fairness are discussed in the chapters on how to navigate children through ethical challenges and pressures during child development years. EMPATHY Empathy is the first essential virtue that describes the ability to identify with and feel another person’s concerns and sensitizes children to different points of view. It increases their awareness of ideas and opinions while enhancing humanness, civility, morality and is an emotion that alerts a child to another person’s plight while stirring the conscience. Children are moved to become too tolerant, compassionate and understanding of others needs and to care enough to help those who are hurt or troubled. This ignites the need to handle anger more adeptly. With children being exposed to a world filled with violence, drugs, cruelty and incivility, empathy may be the antidote to creating tolerance peace. As...

Words: 1471 - Pages: 6

Pap Smear and Breast Assist

...up-and-down approach looks to figure best for many ladies. Make sure to feel all the tissue from the front to the rear of your breasts: for the skin and tissue simply below, use light-weight pressure; use medium pressure for tissue within the middle of your breasts; use firm pressure for the deep tissue within the back. Once you've got reached the deep tissue, you ought to be able to feel right down to your ribcage. Finally, feel your breasts whereas you're standing or sitting. Many ladies realize that the best thanks to feel their breasts is once their skin is wet and slippery, in order that they wish to do that step within the shower. Cowl your entire breast, exploitation a similar hand movements like in previous step. When we talk of Pap smear examinations, it could be scary at first if you have never had one. When the time has come back for your 1st smear test, try and keep as relaxed as attainable as this can facilitate guarantee any physical discomfort is unbroken to a minimum. The doctor or nurse can raise you to get rid of your vesture from the waist down, and lie on your back or your aspect. It’s probably that you just are given a sheet to drape across your abdomen and thighs therefore you're not fully exposed. Once you're comfy you may be asked to bend your knees therefore the doctor or nurse will begin the procedure by inserting Associate in Nursing instrument known as a speculum into your duct. The speculum holds the walls of the duct apart and permits a......

Words: 752 - Pages: 4

Factors Related to Poor Practice of Pap Smear Screening Among Teachers in Malaysia Poor Practice of Pap Smear Screening among Teachers in Malaysia RESEARCH COMMUNICATION Factors Related to Poor Practice of Pap Smear Screening among Secondary School Teachers in Malaysia Fauziah Abdullah1,2*, Norlaili Abdul Aziz3, Tin Tin Su1 Abstract Introduction: The Pap smear test has been regarded as a promising cervical screening tool since 1940s. Yet its importance has been overlooked by beneficiaries in Malaysia. This underlines the need to identify the prevalence of Pap smear practice and influencing factors towards the practice among educated working women. Methods: A survey was conducted with 403 female teachers from 40 public secondary schools in Malaysia selected by cluster random sampling. Data were collected from January to March 2010 using a self-administered questionnaire. Multivariate logistic regression was performed to identify the factors related to the Pap smear practice. Results: The rate for participants who ever had Pap test was only 38% and poor practice of was significantly higher among: those with aged less than 35 years; those practicing hormonal contraceptive method; and individuals perceiving barriers to the Pap smear screening test. In contrast, the findings were significantly lower in women with longer duration of teaching service; higher income groups; ever pregnant; having chronic diseases; health insurance coverage; and who had perceived benefit of Pap smear screening. Conclusion: Barriers towards practicing Pap smear exist even......

Words: 1280 - Pages: 6

My Pap

...The term bully means to me is when someone who can pick on someone who might be afraid of them or who might to scare to stayed on their own to the aggressive. I think it is important to define the term bullying accurately is because there is more than one type of bullies. The term can mean very different things because the term bully can be defined as the activity of repeated, aggressive behavior intended to hurt another person, physically or mentally. The person who might be the bully can hurt someone feelings by the victim having to be on suicide watch. And I think that the bullies should stop trying to hurt someone else because someone can also bully them. The articles are talking about how bulling has been around for many decades and have been the spotlight for many suicides deaths. And that many young kids have been suicidal because of their peers putting pressure on them. In one of the articles it talks about how four young teens were bullied and that only one of the teen’s parents saw justice. Not all bully cases see any attention in court because of the lack of rules in certain states. This can be a problem because not all advocates believe that juveniles should not go to jail are get any charges No, I don’t think my definition of the term bully has changed because my definition explain everything that bullying is about and much more. My definition can be change in the next couple of years because bullying is all around the world. Bully is a serious matter and it...

Words: 310 - Pages: 2

Paps 1001

...Date………………………………………………………………. 1-3 4-5 6-8 9-11 12-18 19 20 Philippine Auditing Practice Statements (PAPS or Statements) are issued by the Auditing Standards and Assurance Council (AASC) to provide practical assistance to auditors in implementing the Philippine Standards on Auditing (PSAs) or to promote good practice. Statements do not have the authority of PSAs. This Statement does not establish any new basic principles or essential procedures; its purpose is to assist auditors, and to develop good practice, by providing guidance on the application of the PSAs when conducting an audit of financial statements. The auditor exercises professional judgment to determine the extent to which any of the audit procedures described in this Statement may be appropriate in the light of the requirements of the PSAs and the entity’s particular circumstances. -2- PAPS 1001Ph The Public Sector Perspective (PSP) is set out at the end of PAPS. Where no PSP is added, the PAPS is applicable in all material respects to the public sector. This particular PAPS issued by the Auditing and Assurance Standards Council is not based on a specific International Auditing Practice Statements (IAPS) issued by the International Auditing and Assurance Standards Board of the International Federation of Accountants but was issued to address a specific situation in the Philippines. -3- PAPS 1001Ph PROPOSED PHILIPPINE AUDITING PRACTICE STATEMENT GUIDANCE IN DEALING WITH “TENTATIVE......

Words: 2583 - Pages: 11

My Pap

...Motivation Plan Angelic Aiken LDR/531 February 12th 2015 James Sternieri Motivation In this plan, we will dig in to the position of Senior Catering Manager. What it entitles and how it benefits the organization. In the gaming, industry the role of senior catering manager differs from a senior catering manager in the public sector. In the casino, the role is wider, and more complex. This position not only manages all catering events, but managers the floor managers in the beverage department, motivates, enforces, and delegates a number of subordinates. The role of senior catering manager is also high in our managerial structure. For the senior manager, also receives feedback from the president and director which is delivered down to floor managers and then on the team members. Feedback is important as it plays a large role in motivating not only the managers but also the employees. The feedback received from upper management is the means in our success at the casino. Knowing which direction to take, which approach, and whether or not task are being completed correctly is needed. This position is in fact a large role, yet leads the casino to success and without proper motivation can be detrimental. This is a role of a leader. The team For the purpose of this paper’s assignment, first person will be used in describing my teammates at University of Phoenix and how their personality traits fit into the organization at the casino. Our casino is one of many......

Words: 1271 - Pages: 6

Small Business Management

...Peter Pap is an established businessman specializing in textiles and tribal weavings, and antique rugs and carpets (Peter Pap Oriental Rugs Incorporated). He operates a business by the name Peter Pap Oriental Rugs Incorporated. Peter is in his own level dealing in the most valuable rugs in the United States. His customers are mostly well off individuals. At present, Peter Pap operates a highly profitable business but sales have from recently been declining consistently day by day. The reason behind this decline is the absence of financial, technological, and administrative skills aspects of his business (O’Reilly 1). He himself lacks all these skills. His business is a one-man show. That is, he spends 80 percent of his time doing things he should be delegating to others. Peter Pap is an expert in educating people on Oriental rugs, appraising, and buying but he spends most of his time performing technological and administrative tasks (O’Reilly 1). Analysis The major concern of the Peter Pap Oriental Rugs Incorporated is the declining sales. Pap would rather follow up a new client willing to purchase a $5000 rug than addressing an old customer interested in a $250,000 antique (O’Reilly 2). Pap’s business has many customers many of whom he has lost or failed to collect their e-mail addresses. Altogether, Peter Pap Oriental Rugs Incorporated lacks a working online marketing program (O’Reilly 2). Alternatives and Conclusions The popularity of Peter Pap Oriental Rugs......

Words: 633 - Pages: 3

Ps2249 Government and Politics of Singapore

...GEK2003 Politics and Governance in Singapore Name: Toh Zhi Qi Matrix no: A0111368 L Tutorial Group: E2 ESSAY QUESTION Q2: Of the many issues facing Singapore’s politics, which, in your view, is the most fatal for the PAP and if unresolved, could severely affect the PAP in the coming general elections? During the 2011 General elections, the PAP lost a GRC for the first time and the election was described as a watershed election by Prime Minister Lee Hsien Loong. In the past 7 years, Singaporeans are getting increasingly unhappy with the ruling party despite enjoying relative peace and prosperity amid the gloomy global economic conditions. These issues ranges from foreigners influx, housing prices, transportation bottleneck, widening income gap, rising demands of citizens to the PAP governing style. Among these issues, the problem of foreigner influx is the most fatal as it is the root to many problems. The foreigner influx issue is indeed very challenging and if not tackled properly, can potentially affect the PAP adversely in the coming general elections. Firstly, the foreigners influx issue, the core of the problems. To tackle the persistent low birth rate, Singapore have experienced an overwhelming influx of foreigners especially from China and India. According to the latest statistics, our population swell to 5.39m; foreigners comprising of 1.55m, and citizens accounted for 3.31m. Singapore has loosened its immigration policy to boost her economy and......

Words: 2670 - Pages: 11

My Term Pap

...Foursquare Name: Sandrita RuleMKTG: 3340-001Spring 2015 | Place | Tip | Target Audience | Chick-fil-A | Very busy but always move at a fast pace so you are never waiting too long. Everyone would love to have Chick-fil-A on a Sunday but It is closed on Sunday’s so that families can be together on that rest day. I totally agree with that because Sunday’s are meant to be with your family. | People who love chicken obviously. Although anyone can eat chicken, Chicken can sometimes be a health problem for some people. Considering all the fat and oil that some chicken can carry. I think the target audience is mostly centered on younger teenage adults to middle age adults. For example, My parents are in their 50’s they rarely eat Chick-fil-A now. They mostly ate it when they were in their late 20’s early 30’s. | Subway | Kind of a slow paced restaurant. A place where you would want to go to sit-down and enjoy a quiet nice area. Mostly busy around lunch times. Any other time between that and after that is great to enjoy the quiet. | I would say subway is for people who love to eat healthy or that like to keep control of their diet. Athletes mostly eat subway. I would say people who are mid-30 to older age would mostly eat subway. Sure young teen adults do but not nearly as much as older adults. | Oak-court Mall | The Oak-court mall is a place where you can shop with friends, family, and if you just want to shop by yourself that’s good too. It’s a fast-paced area. Can find......

Words: 1015 - Pages: 5


...incumbent, People’s Action Party (PAP) returned to power, won its best results since 2001, and regained its electoral dominance from the previous election in 2011. It was an unexpected blown away for the opposition parties as it was expected for the opposition’s presence in parliament to improve. Worker’s Party, the most successful opposition party in Singapore suffered too as many voters feared that it might outperform itself to the detriment of the incumbent party. This essay aims to study the factors that results in the ruling party’s landslide victory and regain its electoral dominance in GE2015, where electoral dominance refers to two thirds of the seats won by a party. Keywords Singapore, General Election 2015, PAP, WP, Lee Kwan Yew, Opposition parties, Introduction A political party is a group of people who has or wants political power by appealing to the masses with to support their campaigns, differentiating themselves from other parties by having disparate views, stands and focus. The Parliament of Singapore is unicameral which includes three types of Members of Parliament: elected Members of Parliament (MPs), Non-constituency Members of Parliament (NCMPs), and Nominated Members of Parliament (NMPs). Of these, MPs are chosen by universal suffrage or popular election under a "first-past-the-post" system, while NCMPs are chosen from among the candidates of political parties not forming the Government. In Singapore, People’s Action Party (PAP) has been......

Words: 3874 - Pages: 16

Doc Edi Pap


Words: 1237 - Pages: 5

Fis 250 Week 8 Checkpoint Checkpoint Pap

...FIS 250 Week 8 CheckPoint CheckPoint PAP To Buy This material Click below link CheckPoint: PAP · Imagine you are a customer service representative at a major auto insurance provider. You answered a phone call from an insured who recently purchased an auto policy. She received her policy in the mail, reviewed it, and now has questions about her coverage. Her auto policy is located in Appendix B of the text. · Answer her questions by identifying the types and locations of policy provisions in Appendix B, and by describing the purpose of each of the provisions: o I’m not clear about my liability coverage on the Ford and Toyota. I don’t understand why they’re different amounts ($100,000 each person, $300,000 each accident, and $50,000 each accident). What does those amounts mean? If I get into an accident, what does this cover? o If I cause an accident in which I get seriously injured and have to pay related medical bills for, say, two years to come, does my policy cover that? o What if my car is struck by a hit-and-run driver? Will the damages to my car be covered? o We get windstorms where I live and I’ve heard of trees falling on people’s cars and causing substantial damage. Will my insurance cover an event like that? o I’m a very private person. What if I was injured in an accident and had to go to the doctor? Would I have to share my medical records with you? o My driving record is less than...

Words: 299 - Pages: 2