Audit Engagement

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Audit Engagement 2 pages

JEREMIAS C. GARCIA Certifed Public Accountant Board Certifcate No. 0027698 408-C Cerin Bldg. Maharli@a !i-"a# $icar%a& Cabanatuan Cit#

AUDIT ENGAGEMENT LETTER $ece%ber 29& 20'(

THE BOARD OF DIRECTORS ALIAGA BROTHERHOOD FOR REFORM ORGANIZATION MULTIPURPOSE COOPERATIVE Poblacion Eas@ II! Alia"a! N#$%a Eci&a A@@$n@ion' MR. LEONARDO V. GUNGAB C(ai)*an

)entle%en*+adie,M Nou ha/e rePue,ted that 1 audit the ,tate%ent oR fnancial 3o,ition oR ALIAGA BROTHERHOOD FOR REFORM ORGANIZATION MULTIPURPOSE COOPERATIVE a, oR $ece%ber T'& 20'( and the related ,tate%ent, oR acti/itie,& ePuit# and ca,h 5o", Ror the #ear, then ended. 1 a% 3lea,ed to confr% %# acce3tance and %# under,tanding oR thi, engage%ent b# %ean, oR thi, letter. M# audit "ill be "ith the obVecti/e oR %# eW3re,,ing an o3inion on the fnancial ,tate%ent,. 1 "ill conduct %# audit in accordance "ith Phili33ine Xtandard, on Auditing. Yho,e Xtandard, rePuire that 1 3lan and 3erRor% the audit and to obtain rea,onable a,,urance that the fnancial ,tate%ent are Rree oR %aterial %i,,tate%ent,. An audit include, eWa%ining& on a te,t ba,i,& e/idence ,u33orting the a%ount, and di,clo,ure, in the fnancial ,tate%ent,. An audit al,o include, a,,e,,ing the accounting 3rinci3le, u,ed and ,ignifcant e,ti%ate, %ade b# %anage%ent& a, "ell a, e/aluating the fnancial ,tate%ent, 3re,entation. Becau,e oR the te,t nature and other inherent li%itation, oR an audit& together "ith the inherent li%itation, oR an# accounting internal control ,#,te%& there i, an una/oidable ri,@ that e/en ,o%e %aterial %i,,tate%ent, %a# re%ain undi,co/ered. 1n addition to %# re3ort on the fnancial ,tate%ent,& 1 eW3ect to 3ro/ide #ou "ith a ,e3arate letter concerning an# %aterial "ea@ne,,e, in the accounting and internal control ,#,te%& "hich %a# co%e to %# @no"ledge. 1 re%ind #ou that the re,3on,ibilit# Ror the 3re3aration oR fnancial ,tate%ent, including adePuate di,clo,ure i, that oR the %anage%ent oR the Co%3an#. Yhi, include, the %aintenance oR adePuate accounting record, and internal control,& the ,election and a33lication oR accounting 3olicie,& and ,aReguarding oR the a,,et, oR the co%3an#. A, 3art oR %# audit 3roce,,& 1 "ill rePue,t Rro% the %anage%ent "ritten confr%ation concerning re3re,entation %ade to %e in connection "ith the audit. M# 3roRe,,ional Ree Ror the f,cal #ear ended 20'( eWa%ination oR ALIAGA BROTHERHOOD FOR REFORM ORGANIZATION MULTIPURPOSE COOPERATIVE ,hall be P T& 000.00 "hich "ill be 3aid in the Rollo"ing %annerM :3on co%3letion

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Yhe Ree e,ti%ate Puoted abo/e a,,u%e, 1 "ill recei/e a33ro3riate a,,i,tance Rro% #our ,ta< in the 3re3aration oR the ,chedule, and other %atter,. 1 loo@ Ror"ard to Rull coo3eration "ith #our ,ta< and 1 tru,t that the# "ill %a@e a/ailable to %e "hate/er record,= docu%entation and other inRor%ation that are rePue,ted in connection "ith %# audit. >ut-oR-3oc@et eW3en,e, incurred in connection "ith the engage%ent "ill be Ror #our account and "ill be included in %# billing,. Yhi, ,hall be included in the fnal billing u3on a33ro/al oR the Board. M# %aWi%u% liabilit# to ALIAGA BROTHERHOOD FOR REFORM ORGANIZATION MULTIPURPOSE COOPERATIVE Ror an# rea,on& including %# negligence& relating to the ,er/ice, under thi, letter ,hall be li%ited to the Ree, 3aid to %e Ror the ,er/ice, or "or@ 3roduct gi/ing ri,e to the liabilit#& eWce3t to the eWtent fnall# deter%ined to ha/e re,ulted Rro% %# gro,, negligence or "illRul %i,conduct. 1R #ou intend to 3ubli,h or other"i,e re3roduce the fnancial ,tate%ent, together "ith %# re3ort ?or other"i,e %a@e reRerence to %e@ in a docu%ent that contain, other inRor%ation& #ou agree to 3ro/ide %e "ith a draRt oR the docu%ent to read and co%%ent on beRore it i, 3rinted or di,tributed. aurther%ore& #ou agree that the ter%, oR thi, engage%ent do not enco%3a,, an underta@ing b# %e ?'@ to con,ent& b# %ean, oR a ,e3arate letter or other"i,e& to the inclu,ion oR %# auditorb, re3ort on the fnancial ,tate%ent, reRerred to abo/e in a fling "ith an# regulator# agenc# or other"i,e rei,,ue %# re3ort Ror 3ur3o,e, oR ,ecuritie, o<ering or other fnancing tran,action& or ?2@ to ac@no"ledge reliance on %# re3ort b# other,. 1 loo@ Ror"ard to Rull coo3eration "ith #our ,ta< and 1 tru,t that the# "ill %a@e a/ailable to %e "hate/er record,= docu%entation and other inRor%ation are rePue,ted in connection "ith %# audit. Yhi, letter "ill be e<ecti/e Ror thi, engage%ent onl# unle,, it i, ter%inated& a%ended or ,u3er,eded b# either 3art# "ith a "ritten notice at lea,t t"o ?2@ %onth, 3eriod to date oR intended ter%ination. Plea,e ,ign and return the attach co3# oR thi, letter to indicate it i, accordance "ith #our under,tanding oR the arrange%ent, Ror %# audit oR #our fnancial ,tate%ent, ,hould #ou ha/e an# co%%ent on the to3 oR tho,e alread# ,ti3ulated abo/e& 3lea,e Reel Rree to do ,o& ,o "ill be able to incor3orate the ,a%e in thi, engage%ent letter.

cer# Yrul# Nour,&

Agreed and acce3ted b# M

JEREMIAS C. GARCIA

MR. LEONARDO V. GUNGAB

1nde3endent Auditor Y1NM 'T9-'T(-69T

Chair%an

CPA Certifcate No. 0027698 PYD No. CBN-0740789 0'-04-20'6& Cab. Cit# PDC B>A Acc. No. 294T& Aug.''& 20'( to eW3ire on $ec. T'&

20'8 C$A Deg& No. CEA 0486 dated '2-20-'T to eW3ire on '2- '9'6 B1D Accreditation No. 04-00(2T9-'-20'4& 1,,ued Fan. 'T& 20'4 to eW3ire on Fanuar# 'T& 20'7

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