SEC orders firms to disclose fees for accountants

Quick Summary:

The Securities and Exchange Commission (SEC) has required listed companies and other corporations imbued with public interest to divulge the fees paid to their external auditors to enhance transparency and accountability in the reporting of their financial and operational results.

The new regulation was contained in SEC Memorandum Circular No.18, Series of 2024, issued last December 26, which indicated the Guidelines on the Disclosure of Fee-related Information of External Auditors.

The guidelines will apply to the annual financial statements of covered companies for the period ending December 31, 2024, and then thereafter.

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Article Details

Author / Journalist: VG Cabuag

Category: BusinessStartups

Markets: Philippines

Topics: Financial Firm External Public Fees Guidelines Covered Statements Required Companies Securities

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-13 @ 12:46:37 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 559 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25106248

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 34 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 8 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Publisher ID: #37

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