Scribd
Upload
82 views1 page

Bulacan Employees Credit Cooperative: Report On The Financial Statements

The independent auditor's report summarizes the auditor's responsibilities and opinions regarding the financial statements of BULACAN EMPLOYEES CREDIT COOPERATIVE. The auditor is responsible for expressing an opinion on whether the financial statements are fairly presented based on an audit of the statements. The audit was conducted according to auditing standards and determined that the financial statements accurately represent the financial position and performance of the cooperative in accordance with relevant accounting standards. The auditor issued a clean opinion stating that the statements present fairly in all material respects the financial position of the cooperative.

Uploaded by

Shirley Lucas Esaga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
82 views1 page

Bulacan Employees Credit Cooperative: Report On The Financial Statements

The independent auditor's report summarizes the auditor's responsibilities and opinions regarding the financial statements of BULACAN EMPLOYEES CREDIT COOPERATIVE. The auditor is responsible for expressing an opinion on whether the financial statements are fairly presented based on an audit of the statements. The audit was conducted according to auditing standards and determined that the financial statements accurately represent the financial position and performance of the cooperative in accordance with relevant accounting standards. The auditor issued a clean opinion stating that the statements present fairly in all material respects the financial position of the cooperative.

Uploaded by

Shirley Lucas Esaga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

INDEPENDENT AUDITOR'S REPORT

The General Assembly


Thru: The Board of Directors
BULACAN EMPLOYEES CREDIT COOPERATIVE
Provincial Capitol, Malolos City, Bulacan

Report on the Financial Statements

I have audited the accompanying financial statements of BULACAN EMPLOYEES CREDIT COOPERATIVE, which
comprise the statements of Financial Position as at December 31, 2014 and 2013 and the statements of operations and
distribution of net surplus, statements of changes in members' equity and statements cash flows for the years then
ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and the fair presentation of these financial statements in accordance with
Philippine Financial Reporting Standards in the Philippines, which include all applicable Philippine Financial Reporting
Standards (PFRS), and the accounting requirements under the laws, rules, regulations and principles promulgated by
the Cooperative Development Authority (CDA), as described in Note 2 to the financial statements, and for such internal
control as management determines is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.

Auditor's Responsibility

My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in
accordance with Philippine Standards on Auditing. Those standards require that I plan and perform the audit to obtain
reasonable, but not absolute assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The audit procedures selected depend on the auditor's assessment of the risks or material misstatement of
the financial statements, whether due to fraud or error. In making those risk assessment, the auditor considers internal
control relevant to the entity's preparation of the financial statements s a basis fro designing audit procedures that are
appropriate in the circumstance, but not for the purpose of expressing an opinion on the effectiveness of the entity's
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant estimates made by management, as well as evaluating the overall financial presentation
and disclosures.

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

In my opinion, the financial statements present fairly, in all material respects, the financial position of BULACAN
EMPLOYEES CREDIT COOPERATIVE as of December 31, 2014 and 2013, and its financial performance and its cash
flows for the years then ended in accordance with Philippine Financial Reporting Standards in the Philippines, which
include all applicable PFRS, and the accounting requirements under the laws, rules, regulations and principles
promulgated by the CDA, as described in Note 2 to the financial statements.

CARLOS C. SAMSON
CPA Certificate No. 51267
PTR No. 1056400 January 12, 2015 - Bocaue, Bulacan
BIR 05-004364-1-2014 Valid until February 19, 2017
BOA No. 3308 Valid until December 31, 2016
CDA No. 0955 Valid until November 17, 2016

March 23, 2015

You might also like