Idineklara ng #KorteSuprema na ang mga kumpanyang nag-iisyu ng rehistradong securities ay maaari lang kumuha ng mga certified public accountant (CPA) na akreditado ng Securities and Exchange Commission (SEC) para magsagawa ng mga independent audit ng kanilang mga annual financial statement.
Sa Resolusyong isinulat ni Associate Justice Ricardo R. Rosario, binaliktad ng En Banc ng Korte Suprema ang nauna nitong desisyon at pinaburan ang Ikalawang Motion for Reconsideration (MR) na hinain ng SEC.
Kinatigan din nito ang Rule 68, paragraph 3 ng Implementing Rules and Regulations (IRR) ng Securities Regulation Code (Republic Act [RA] No. 8799) at ang SEC Memorandum Circular No. 13, series of 2009 (SEC MC No. 13-2009).
Ang mga alintuntuning ito ang nag-uutos sa mga CPA na nagsisilbing mga external auditor para sa mga korporasyong nag-iisyu ng mga rehistradong mga security na kumuha ng akreditasyon mula sa SEC.
Ang SEC, na siyang nangangasiwa sa corporate sector at securities industry, ay naglabas ng alituntunin tungkol sa akreditasyon para masala ang mga external auditor. Tinutulan ito ng 1Accountants Party List, Inc., isang organisasyon ng mga CPA, at iginiit na nililimitahan nito ang karapatan ng mga CPA para mag-practice ng kanilang profession ayon sa Philippine Accountancy Act of 2004 (RA 9298).
Pinaburan ng RTC ang 1Accountants Party List, Inc. kung kaya’t nag-apela ang SEC sa Korte Suprema kung saan iginiit nito na may legal na awtoridad silang mag-akredita, base sa Securities Regulation Code at Revised Corporation Code.
Sa Desisyon noong June 21, 2022, sinang-ayunan ng Korte Suprema ang RTC at idineklara na saklaw lang ng awtoridad ng SEC ang mga korporasyon at hindi ang mga indibidwal na mga CPA. Pero, binaliktad nito ang naunang Desisyon at binigyan ng merito ng Korte Suprema ang argumento ng SEC.
Idineklara ng Korte Suprema na hindi limitado sa Professional Regulatory Board of Accountancy ang pangangasiwa ng pagpraktis ng accountancy. Binibigyan ng Securities Regulation Code at Revised Corporation Code ang SEC ng kapangyarihang mag-implementa ng polisiya ng Estado para maprotektahan ang mga investors, masiguro ang buo at tamang pagdeklara ng securities, at mabawasan ang insider trading, na nakakasama sa malayang kalakalan.
Ang pag-aakredit ay maituturing na isang partikular na aktibidad ng auditing at hindi pangangasiwa sa propesyon ng accountancy. Ibig sabihin, ang mga CPA na ang mga tanging ginagampanan ay bookkeeping o iba pang hindi patungkol sa auditing ay hindi kailangang akreditahan ng SEC.
Basahin ang buong teksto ng press release sa https://t.co/RKdCcOw0d2.
Basahin ang buong teksto ng Desisyon sa https://t.co/8OYM2BzqJG.
Basahin ang Dissenting Opinion ni Associate Justice Alfredo Benjamin S. Caguioa sa https://t.co/Gr50kxm8Qg.
Basahin ang Dissenting Opinion ni Associate Justice Amy C. Lazaro-Javier sa https://t.co/sBGHxbmZ5W.
#SupremeCourtPH
#SCphTranslations
JFC 238.00
- Jollibee Foods Corporation (JFC) reported a 4.8% decline in fourthquarter net income, leading to an 8.5% drop in its share price over the week.
- The decline in quarterly earnings, attributed to net losses from certain joint ventures, raises concerns about JFC's profitability and operational challenges.
- Disappointing earnings have negatively impacted investor confidence, reflected in the recent share price decline.
DNL 5.39
- D&L Industries, Inc. is evaluating the construction of a second biodiesel plant to meet rising demand following the government's mandate to increase the biodiesel blend in diesel fuel.
- The government's directive to raise the biodiesel blend presents an opportunity for D&L to expand production capacity, potentially increasing market share.
- Investing in biodiesel aligns with global sustainability trends and supports the local coconut industry, which supplies raw materials.
FLI 0.75
- Filinvest Land, Inc. plans to open the Filinvest Malls Mimosa in Clark by the fourth quarter of 2025, expanding its retail portfolio within the Filinvest Mimosa Plus Leisure City.
- The mall's location in Clark positions it to serve a growing market, benefiting from increased economic activity and tourism in the area.
- As part of a larger mixed-use estate, the mall is expected to attract both local residents and visitors, enhancing foot traffic and retail opportunities.
- Timely completion by Q4 is crucial to capitalize on the holiday season and maximize initial occupancy and sales.
WLCON 7.50
- Wilcon Depot, a leading home improvement and construction supplies retailer, aims to open up to 10 new stores nationwide in 2025, expanding its footprint to meet growing consumer demand.
- The expansion reflects confidence in the continued growth of the construction and home improvement sectors, driven by urbanization and housing developments.
- New store openings are anticipated to boost sales volumes and market penetration, contributing positively to the company's top line.
ICT 371.00
- ICTSI's estimated dividend for the next year rose 6% to PHP19.34 per share, up from PHP18.21.
- This increases the dividend yield to 5.08%, surpassing the two-year U.S. Treasury yield of 3.96% by 112 basis points.
- The previous forecasted yield was 4.78%.
CLI 2.57
- Cebu Landmasters, Inc. (CLI) has allocated ₱15 billion for capital expenditures in 2025, focusing on expanding its real estate projects across Visayas and Mindanao.
- CLI's investment underscores its commitment to strengthening its presence in emerging markets, potentially capturing unmet housing and commercial space demands.
- The planned projects are expected to contribute to revenue streams in the coming years, enhancing CLI's financial performance.
SMC 83.45
DivY 1.68
Rsi 50.72
The 2024 EPS surged by an impressive 2537%, reaching Premievs to 0.08 in 2023—an exciting surprise for domestic n global investors!
San Miguel's power units, Sual Power and South Premiere Power, have applied to the Energy Regulatory Commission to recover PHP34 billion from Manila Electric due to "price adjustments" under their power supply agreement.
SMC 83.45
- The 2024 EPS surged by an impressive 2537%, reaching Premievs to 0.08 in 2023—an exciting surprise for domestic n global investors!
- San Miguel's power units, Sual Power and South Premiere Power, have applied to the Energy Regulatory Commission to recover PHP34 billion from Manila Electric due to "price adjustments" under their power supply agreement.
Weekly/Monthly values are all goobered. Forget those! On the daily front, $SPNEC (+2%), $BNCOM (+2%), and $BALAI (+3%) were the only babies that moved with any conviction into the green. $REDC (-3%) was the hardest hit.
REIT prices were lightly up after the US Federal Reserve passed on cutting rates due to concerns over the inflationary impact of Trump's tariffs. $RCR (+1.4%) was the main beneficiary. $AREIT (+0.3%) and $CREIT (+0.3%) caught some love.
Apple is losing more than $1 billion a year on its streaming service, the Information reported on Thursday, citing two people familiar with the matter. https://t.co/JkNKaOqZn1
Current situation:
1. Stocks are falling like the trade war is officially back
2. The US Dollar is falling like the trade war is over
3. Crypto is falling like the bear market just started
4. Treasury yields are falling like rate cuts are back
5. Oil prices are falling like we are entering a recession
6. Gold is falling like we are on track for a soft landing
This is simply a rush to the sidelines.
Loans soared 13 percent as businesses and individuals borrowed more, pushing total lending to P3.2 trillion.
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BDO shatters records anew in 2024 with P82-B profit
READ: https://t.co/Gk7ymLKrf1
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