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RMC No. 20-2006: Temporarily suspends until further notice the implementation of the requirement relative to the accreditation of external auditors as provided for in Revenue Regulations No. 4-2005

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Summary

RMC No. 20-2006 temporarily suspends until further notice a requirement of Revenue Regulations No. 4-2005 on accreditation of external auditors.

Key points

  1. Suspended requirement. RR No. 4-2005 required that, starting 2005, only financial statements of taxpayers with total assets of more than P15 Million audited by external auditors accredited by the Securities and Exchange Commission are acceptable. This requirement is suspended.

Who is affected

  • Taxpayers with total assets of more than P15 Million

Deadlines and effectivity

  • Suspension until further notice

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances

CitesRR No. 4-2005

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.