2013-007 RESOLUTION

REPUBLIC OF THE PHILIPPINES COMMISSION ON AUDIT

Commonwealth Avenue, Quezon City, Philippines

No. : ----~------Date : JAN 2 9 2013

SUBJECT : Adoption of Philippine Public Sector Standards on Auditing

WHEREAS, Article IX-D of the 1987 Philippine Constitution vests in the Commission on Audit (COA) the exclusive authority to define the scope of its audit and examination and establish the techniques and methods required therefor;

WHEREAS, Chapter 2. Section 25 (4) of Presidential Decree {P.O.) No. 1445 mandates the COA to promulgate auditing rules and regulations;

WHEREAS. there is a need to harmonize the auditing standards promulgated under P.O. No. 1445 and issuances of the Commission. to the extent possible. with tile current international trends in auditing;

WHEREAS. COA Resolution No. 2008-012 dated October 10, 2008 created the Public Sector Auditing Standards Board {PSSB-Auditing) to assist the Commission Proper in fo rmulating and implementing public sector auditing standards;

WHEREAS. after a study and review o f the provisions of the Internationa l Standards on Auditing and International Standards of Supreme Audit Institutions, the PSSB-Auditing recommended the adoption of the standards to be referred to as Philippine Public Sector Standards on Auditing (PPSSAs) ;

WHEREAS, the PPSSAs, as a ligned with international standards, provide quality auditing and assurance standards thereby enhancing the quality and uniformity of practice throughout the Philippines and strengthening public confidence in the auditing and assurance profession;

NOW, THEREFORE, the Commission Proper resolves. as it does hereby resolve, to adopt the standards enumerated in Annex A to this Resolution and made an integral part hereof.

This Resolution shall take effect on .IAN 2 9 . 2013 Done this 2.9lll day o f Jaoua.ry 2013 at Quezon City, Philippines.

PULIDO TAN erson~

~NDOZA Commissioner