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                    [Title] => BSP to let banks defer booking losses on sale of bad assets
                    [Summary] => The Bangko Sentral ng Pilipinas (BSP) will allow banks to defer booking their losses from the sale of bad assets but they will still be required to comply with auditing standards when preparing their financial statements.


The BSP said its rules on the sale of non-performing assets (NPAs) under the Special Purpose Vehicle Act (SPVA) amended the accounting guidelines on the sale of NPAs to special purpose vehicles and to qualified individuals for housing.


                    [DatePublished] => 2005-12-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [ArticleID] => 304706
                    [Title] => ASC defers implementation of complex accounting rules for SMEs
                    [Summary] => The Accounting Standards Council (ASC) has deferred the implementation of complex accounting rules for small and medium enterprises for next year or 2007.


Securities and Exchange Commission (SEC) General Accountant Roberto Manabat said the more complex accounting standards which are supposed to be effective for December 2005 yearend reporting like those for financial instruments and pensions will be deferred for SMEs.


                    [DatePublished] => 2005-11-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
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                    [ArticleID] => 154639
                    [Title] => SEC tightens grip on auditing practices in wake of Enron fiasco
                    [Summary] => In the aftermath of the celebrated Enron collapse in the United States, the Securities and Exchange Commission (SEC) is further tightening its grip on the auditing practice in the Philippines as it seeks several reforms in accounting standards.


"The Enron case has indeed become a catalyst for much needed change in corporate governance and the accounting profession, in particular," SEC Chairman Lilia Bautista told members of the Financial Executives Institute of the Philippines (Finex) in a forum.


                    [DatePublished] => 2002-03-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
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ACCOUNTING STANDARDS COUNCIL

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                    [ArticleID] => 313979
                    [Title] => BSP to let banks defer booking losses on sale of bad assets
                    [Summary] => The Bangko Sentral ng Pilipinas (BSP) will allow banks to defer booking their losses from the sale of bad assets but they will still be required to comply with auditing standards when preparing their financial statements.


The BSP said its rules on the sale of non-performing assets (NPAs) under the Special Purpose Vehicle Act (SPVA) amended the accounting guidelines on the sale of NPAs to special purpose vehicles and to qualified individuals for housing.


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                    [AuthorName] =>  Des  Ferriols
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                    [ArticleID] => 304706
                    [Title] => ASC defers implementation of complex accounting rules for SMEs
                    [Summary] => The Accounting Standards Council (ASC) has deferred the implementation of complex accounting rules for small and medium enterprises for next year or 2007.


Securities and Exchange Commission (SEC) General Accountant Roberto Manabat said the more complex accounting standards which are supposed to be effective for December 2005 yearend reporting like those for financial instruments and pensions will be deferred for SMEs.


                    [DatePublished] => 2005-11-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 154639
                    [Title] => SEC tightens grip on auditing practices in wake of Enron fiasco
                    [Summary] => In the aftermath of the celebrated Enron collapse in the United States, the Securities and Exchange Commission (SEC) is further tightening its grip on the auditing practice in the Philippines as it seeks several reforms in accounting standards.


"The Enron case has indeed become a catalyst for much needed change in corporate governance and the accounting profession, in particular," SEC Chairman Lilia Bautista told members of the Financial Executives Institute of the Philippines (Finex) in a forum.


                    [DatePublished] => 2002-03-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
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abtest

BSP to let banks defer booking losses on sale of bad assets

By Des Ferriols | December 28, 2005 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) will allow banks to defer booking their losses from the sale of bad assets but they will still be required to comply with auditing standards when preparing their financial statements. The...

Business

ASC defers implementation of complex accounting rules for SMEs

By Zinnia B. Dela Peña | November 1, 2005 - 12:00am

The Accounting Standards Council (ASC) has deferred the implementation of complex accounting rules for small and medium enterprises for next year or 2007. Securities and Exchange Commission (SEC) General Accountant...

Business

SEC tightens grip on auditing practices in wake of Enron fiasco

By Christina Mendez | March 21, 2002 - 12:00am

In the aftermath of the celebrated Enron collapse in the United States, the Securities and Exchange Commission (SEC) is further tightening its grip on the auditing practice in the Philippines as it seeks several...

Business