Audit Services

        Our audit philosophy is based on integrity, objectivity, independence and strict adherence to all professional standards, professional ethics, regulations and laws. Professionalism in audit performance arises from our dedication to public trust. We serve the interests of our clients, including owners, investors and other stakeholders in accordance with the appropriate professional standards. The primary purpose of every audit is to express an opinion on the fair presentation the financial position and operational results of our clients. The service characteristics of our services include hands on, year round contact with our clients, who benefit from our commitment to service continuity and the utilization of experienced professionals during their audits. Every audit is personalized which allows us to perform each audit with a unique knowledge and value added perspective.

        In order to accomplish our audit objectives in a highly effective and meaningful manner, Ismael CPA employs a risk-based approach to auditing. Proper and accurate planning , testing and reporting, with a strong emphasis on risk assessment define our audit philosophy.

        Our clients benefit on enhanced communications and streamlined internal processes.
 

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Attest Services

        In addition to financial statement audits, Ismael CPA also provides the following services:

REVIEWS
        We review financial results by making inquiries of clients' management and performing analytical procedures. Our review report expresses limited assurance that there are no material modifications that should be made to the financial statements in conformity with generally accepted accounting principles.
 

        As a full service business advisor to our clients. We offer a wide spectrum of related services that help with compliance, operational efficiency and profit maximization;

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Internal Audit Outsourcing

        Recent rules by the Bangko Sentral ng Pilipinas (BSP) & the Securities & Exchange Commission (SEC), have increased emphasis on auditor independence. While existing rules preclude regulated companies from using the same CPA firm for external and internal audits, similar provisions could be extended to other entities as well. BSP Circular 488 provides for rules on internal audit outsourcing.

        In the changing environment of regulatory and business environment, Ismael CPA stands well positioned to provide quality and objective internal audit services to rural, cooperative and micro-finance oriented bank client base. Our regional reach in Northern Luzon and a broad array of resources enable us to bring value and perspective to our organization.
 

        The number of organizations outsourcing internal audit and regulatory compliance has increased dramatically. This is due to the regulatory provision of BSP and to the increased skill sets expected of the risk management staff and management's desire to have these individuals function as business consultants. Economics also play a big role in the outsourcing decision, with many banks reducing overall audit compliance costs through outsourcing. Some of the advantages our clients have experienced by outsourcing include industry knowledge, cost savings and a reduction of risk to the organization.

INDUSTRY EXPERTISE
        The regulatory and technological environment is becoming highly complex and requires that internal audit and compliance staff spend a significant amount of time identifying, understanding , and becoming proficient at a wide variety of technical functions. It is difficult for a small staff to maintain the appropriate knowledge base for all facets of the industry. Ismael CPAs key internal audit and compliance outsourcing staff have a breadth of knowledge.

COST SAVINGS
        Outsourcing can be more cost effective than employing internal staff. By outsourcing, you eliminate the cost of salaries, benefits, vacations, holidays, training & supervision. You pay for professional service only - 100% of your costs go to completing internal audits and compliance matters.

RISK BASED APPROACH

        We work with management to identify the compliance issues and internal audit areas that represent the highest risk to the organization and focus detailed testing in these areas. This approach allocates more of clients' outsourcing pesos to the most important issues and reduces the overall risk. Outsourcing is not meant to replace management's responsibility for the monitoring of the internal controls of the organization. We view outsourcing as support mechanism by which we provide ongoing review and reporting to management and the Audit Committee to maintain independence and objectivity, we are not involved in management decision making and the rules of BSP Circular 488 on outsourcing the function defines the parameters.

        As your internal auditor, we perform a number of duties including:
 

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Tax Planning and Compliance

          Quality tax services provide a client with informed guidance through a maze of tax laws, regulations and rulings. Ismael CPA is accredited with the Bureau of Internal Revenue (BIR). This accreditation gives us the authority to act for and in behalf of taxpayers in the preparation of tax returns, statements, reports, protests and other papers with, and/or to appear and transact official business before the Bureau of Internal Revenue pursuant to the provisions of Section 6 (G) of the National Internal Revenue Code of 1997. We at Ismael CPA believe the best approach starts with year long tax planning strategy. Our tax specialists take an integrated and consultative approach to devising high quality tax strategies to our clients. Minimizing tax liability requires proactive measures and strategy formulation based on the respective needs and goals of the business or individual client.

          By working with Ismael CPA, you enjoy the advantage of building personal relationships with local tax specialists while having access to regional tax expertise that can be tailored to your industry type of business or specialized individual tax situation.

          Whether providing tax planning and preparation services to individuals, corporations, partnership, limited liability corporations or estates, Ismael, CPA takes a personalized approach to crafting a sound and creative strategy to reduce tax liabilities.

          By selecting Ismael, CPA tax advisor, you tap into knowledge of local and national tax compliance issues across a variety of service offering including:
 

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