Management's Responsibilities Template

[Insert Company’s letterhead]
STATEMENT OF MANAGEMENT’S RESPONSIBILITY

ON THE FINANCIAL STATEMENTS
The Management of XYZ Corporation (herein referred to as “the Company”) is responsible for
preparation and fair presentation of the financial statements, including the schedules attached therein, for
the year ended December 31, 2019, in accordance with the prescribed financial reporting framework
indicated therein, and for such internal control as management determines necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Management is responsible for assessing the Company’s ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Company or to cease
operations, or has no realistic alternative to do so.
The Management is responsible for overseeing the Company’s financial reporting process.
The Management reviews and approves the financial statements, including the schedule attached therein,
and submits the same to the shareholders.
Mr. Pedro J. Habana, the independent auditor appointed by the members, has audited the financial
statements of XYZ Corporation’s in accordance with Philippine Standards on Auditing, and in his
report to the members, have expressed his opinion on the fairness of presentation upon completion of
such audit.
Signature over printed name

Signature: __________________________________
(Name of Chairman of the Board)

Signature: __________________________________
(Name of President/Chief Executive Officer)

Signature: __________________________________
(Name of Treasurer/Chief Finance Officer)
[Insert Company’s letterhead]
STATEMENT OF MANAGEMENT’S RESPONSIBILITY

FOR ANNUAL INCOME TAX RETURN
The Management of XYZ Corporation is responsible for all the information and representations
contained in the Annual Income Tax Return for the year ended December 31, 2019. The Management is
likewise responsible for all information and representation contained in the financial statements
accompanying the (Annual Income Tax Return or Annual Information Return) covering the same
reporting period. Furthermore, the Management is responsible for all information and representations
contained in all the other tax returns filed for the reporting period, including, but not limited, to the value
added tax and/or percentage tax returns, documentary stamp tax returns, and any all other tax returns.
In this regard, the Management affirms that the attached audited financial statements for the year ended
December 31, 2019 and the accompanying Annual Income Tax Return are in accordance with the book
and record of XYZ Corporation complete and correct in all material aspects. Management likewise
affirms that:
a) the Annual Income Tax Return has been prepared in accordance with the provisions of the
National Internal Revenue Code, as amended, and pertinent tax regulations and other issuances of
the Department of Finance and the Bureau of Internal Revenue.
b) any disparity of figure in the submitted reports arising from the preparation of financial
statements pursuant to financial accounting standards and the preparation of the income tax return
pursuant to tax accounting rules has been reported as reconciling items and maintained in the
Company’s books and record in accordance with the requirements of Revenue Regulations No. 8-
2007 and other relevant issuances;
c) the Company has filed all applicable tax returns, reports and statements required to be filed under
Philippine tax laws for the reporting period, and all taxes and other impositions shown thereon to
be due and payable have been paid for the reporting period, except those contested in good faith.

Signature: __________________________________
(Name of Chairman of the Board)

Signature: __________________________________
(Name of President/Chief Executive Officer)

Signature: __________________________________
(Name of Treasurer/Chief Finance Officer)

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[Insert Company’s letterhead]

STATEMENT OF MANAGEMENT’S RESPONSIBILITY

Signature over printed name

Signature over printed name

Signature over printed name

STATEMENT OF MANAGEMENT’S RESPONSIBILITY

Signature over printed name

Signature over printed name

Signature over printed name

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