Doing business in Iloilo
Invest in Iloilo: a dynamic city with booming sectors in BPO, agriculture, tourism, and real estate, backed by successful public-private infrastructure projects and a vibrant cultural scene.
Assurance services
The financial statement audit has never been more important. There is stronger clamor for good corporate governance and greater reliability of financial reports. This has influenced reforms in the regulatory landscape and significant changes in financial reporting standards.
The impact of the changes is embedded in our audit methodology and we make sure our clients fully understand its effects.
We apply the full rigor of our global audit methodology (called PwC Audit) to our clients and tailor it to the size and nature of their business. This methodology provides a robust assurance process that upholds a superior and distinctive audit that is of global standards.
We adhere to the PwC independence rules which are generally more stringent than local independence rules.
Risk-based, top-down approach
Our risk-based, top-down audit approach provides the necessary framework that increases audit effectiveness and efficiency, and clearly responds to a client’s needs. We get an in-depth understanding of the client’s business and industry, the internal control environment, overall business objectives and the risks associated with those objectives.
Combining these factors with our independently formed expectations, we focus on the risks that will impact on financial reporting and our audit responsibilities. We plan and perform assurance work so that the audit risks will be limited to an acceptable level that, in our professional judgment, is appropriate to express an opinion on the financial statements.
As external auditors, we have a role to play in good corporate governance because we interact with the audit committee. Some of the more important benefits of our interaction are:
- For those in charge of corporate governance – we provide fresh perspectives towards best practices in corporate reporting and governance useful in discharging governance responsibilities and building public trust.
- For those in charge of operations and administration – we enhance their sense of responsibility and ownership of day-to-day processes with the improved internal control environment as a result of the audit.
Built on quality
Our commitment to provide quality financial reports that add value is a constant. This enables us the convergence of information needed by those in the corporate reporting supply chain and governance to understand companies in detail and in depth. To maintain this high grade, we train our people with the right combination of industry-specific issues, global perspective, local implementation, and forward looking approach, with a deep insight on international and local accounting and auditing standards.
Working in ways that give clients greater reliability
We help our clients deliver value confidently through transparency of reporting to their stakeholders.
- Financial audit, review and related services
- Risk Assurance
- Corporate & Sustainability reporting
- Internal audit
- Capital markets
- Actuarial services
- Entrepreneurial and Private Business
Issues and insights
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Our purpose in action: PwC Philippines Corporate Sustainability Report (FY 2022)
This fiscal year, we celebrated the 100th anniversary of Isla Lipana & Co. As we look back on our rich history, we also reflect on how we can create a brighter and more sustainable future for the next generation.
FIST Act
Watch our videos introducing the salient points of the Financial Institutions Strategic Transfer.
What ESG is and why it matters
The COVID-19 pandemic-induced lockdown alone had an immediate and negative impact on business activities. A Philippine enterprise survey conducted by the Asian Development Bank (ADB) from 28 April to 15 May 2020 shows that two-thirds of businesses closed temporarily, while 29% reduced operations.
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