Sample Audited Financial Statements (Philippines)

Are you looking for a sample of audited financial statements of companies in the Philippines? Perhaps, you’re just searching for samples of balance sheet (statement of financial position), statement of income, cash flow, statement of changes in equity, or the complex notes to the financial statements of a particular company in your industry. If you’re an accountant or an auditor, you may need samples of financial reports of companies audited by accredited auditing firms in the Philippines as guidelines and benchmarks on the acceptable presentation of financial statements according to the Philippine Accounting Standards (PAS) and the Philippine Financial Reporting Standards (PFRS).

In one of our previous articles, we’ve discussed about “where to get financial statement of companies in the Philippines.” The article gave three ways to obtain annual reports of Philippine businesses. These are obtaining the reports directly from the company office or website, downloading from the Philippine Stock Exchange (PSE) website for listed companies, and having an iView account with the Securities and Exchange Commission (SEC) online facility to download the annual reports submitted by corporations to them. Usually, companies are done with their audited financial statements before April 15 since it is also the deadline for filing of Annual Income Tax Return with the Bureau of Internal Revenue (BIR). Thus, we can expect that as of the date of this post, the latest annual audited financial statements we can view or download from the Internet are those that are ended as of December 31, 2009 or those that have fiscal periods ended before December 31, 2010 (e.g., March 31, June 30 and September 30). Financial statements as of December 31, 2011 will be posted here when available.

Update: I just visited the site of Philippine Long Distance Company (PLDT) and I found out that they have already published their audited financial statements as at and for the year ended December 31, 2010 (date of audit report issuance by Sycip Gorres Velayo (SGV) Co. was on March 1, 2011). So you can already download the said report below.


Sample Audited Financial Statements of Philippine Companies

So here’s maybe what you’re looking for. The following are links to the actual annual reports which include the audited financial statements according to their industry.

Audited Financial Statements of a telecommunication company
Philippine Long Distance Telephone Company (PLDT) – Audited Financial Statements (December 31, 2010)

Audited Financial Statements of a school, university or educational institution
Centro Escolar University – Annual Report (March 31, 2011) New
Far Eastern University – Annual Report (March 31, 2011) New

Audited Financial Statements of a universal bank:
Metropolitan Bank and Trust Company – Annual Report (December 31, 2010)
Bank of the Philippine Islands – Annual Report (December 31, 2010)

Audited Financial Statements of a construction company
Megaworld Corporation – Annual Report (December 31, 2010) – Download link from the company website is currently down.

Audited Financial Statements of a holding company
Ayala Corporation – Annual Report (December 31, 2010) 
SM Investments Corporation – Annual Report (December 31, 2010)

Audited Financial Statements of a hotel and leisure company
Waterfront Philippines, Incorporated – Annual Report (December 31, 2010)

Audited Financial Statements of a mining company
Benguet Corporation – Annual Report (December 31, 2010)

Audited Financial Statements of a non-stock, non-profit foundation:
Peace and Equity Foundation – Annual Reports (December 31, 2004 – 2009)

Note: This post will be updated once the latest annual reports become available. For more references of FS on other industries, you may visit the Philippine Stock Exchange Listings and Disclosures.


Victorino Abrugar is a retired CPA practitioner, a blogger, speaker, and an entrepreneur. He's the President of Optixor, Inc., a digital marketing company based in the Philippines. Follow him on Twitter at @viclogic.


    • Vic says

      Hi Lea, Thanks for visiting. Currently, we only share audited FS of public companies / publicly listed entities, which are corporations. Actual audited FS of non-publicly entities are not usually shared to the public. We will try to prepare sample unaudited FS of a sole proprietorship (i.e., statement of financial position, statement of income and cash flow) in the future, but that would require some time to complete. Actually, the only difference for sole proprietorship is on the presentation of its equity portion on the statement of financial position (previously known as balance sheet). Instead of stockholders’ equity, the equity of sole proprietorship is presented as “owner’s equity.” See example below:

      Juan De la Cruz equity, beginning XXX
      Add: investments XXX
      Less: Drawings (XXX)
      Juan De la Cruz equity, end XXX

      • lea says

        thanks for replying. i need to make the FS and accompanying notes of a sole prop. we all know that the auditor only makes an OPINION on the FS of an entity (but this doesn’t really happen. the auditor ends up making the FS and the notes to the FS).

        i’ve seen some published audited FS, and most of the notes to the accompanying FS of these corporations do not apply to sole props. the notes are like novels! lol. i just need something applicable to sole proprietorships.

        thank you.

    • Jhomz says

      can i have an audited fs of MERALCO???
      maybe 2008,2009,2010,2011,2012
      Do you have it sir???
      We will need it to make a study for our auditing subject???
      a vertical anlaysis of there fc…

      It will be a great help Thanks Sir!!

  1. Vic says

    Sole proprietorship businesses are usually considered SMEs. Hence, they must be reported using PFRS for SMEs, and not the full PFRS like what the public companies are adopting. You may visit in their IFRS section to download references/illustrative FS on IFRS for SMEs. You may also be required to register with them. We have removed the link in your comment, because it is against our terms. If you have other questions, please specify it here. Thank you.

  2. Brembot says

    Hi im an online game fanatics, i would like to ask how to or what audit procedures to validate their income, expense, etc? im curious kasi.



    • Vic says

      Hi Brembot, your specific audit procedures will depend on your specific objectives. Can you specify your question?

  3. john says

    hello. makisali lang din. pwede po kayo mag-post ng complete set of audited financial statements para sa isang sole proprietor. salamat.

    • Vic says

      Hi John,
      I already addressed this request in the previous comments above. I don’t have team of people now to create an illustrative sample of a complete set of FS for single proprietors. I only have FS that are confidential here – they cannot be shared. :) If you are kind enough, you can sponsor us to have the sufficient time to create an illustrative FS. :) Thanks

      • Vic says

        Anyway, I’ll try to post articles on accounting and FS preparation. But it will not be accomplished right away. I still need to start from the basics, and I also need to address other topics and issues in this blog. We will do it one by one. :)

  4. Donna says

    Hi Vic,

    Good Morning,

    Could you summarized the audit procedures from the start – end of audit. Meaning from preparation of time table to preparation of audit opinion, 3rd year College na po kasi ako and i’m curious sa audit


  5. alexia says

    hi.. may i ask if you have financial statements for philippine nursing homes or home for the aged?

    • Vic says

      Hi Alexa, we only published FS of public companies. So far we don’t have that kind of financial statements.

  6. Riza says

    Hi po. Ask ko lang kung mayroon kayong financial statements of CPA Revie Center? Thankz.

  7. says

    The present concern that SMEs should concentrate is the applicable PFRS and related BIR and SEC mandated notes to financial statements to avoid penalty. This is the reason why we are now creating a seminar program on (a) Accounting for SMEs that would concentrate on applicable PFRS, and (b)BIR & SEC required Notes to Financial Statements. Gone are the days where SMEs just provide a one-page notes to FS because SEC and BIR are now becoming more particular on their notes requirements. Should you be willing to participate, please click on my name above for our schedules.

  8. diane says

    uhm, Mr can u please post more samples of audited financial position of manufacturing business please……:) we terribly need some for our assignment.. tnx! god bless

    • Vic says

      Hi Diane, we only share financial statements of public or publicly listed companies. You can visit the official website of Philippine Stock Exchange , then at the menu sidebar, go to “Listed Companies”. You will be directed to the annual reports, financial statements of listed companies in the Philippines. Select the industry that you like.

  9. says

    Hi Kuya.

    Can you post a copy of a complete set of Audited Financial Statements for a church.

    Because I just started working in a church which they don’t have a regular Accountant. That is why I want to make sure that the changes I will be doing with the reports will be in compliance with the accepted standard reporting format.

    Hoping for your kind and immediate attention on the above matter.

    Thank you.

    • Vic says

      We don’t have a complete set of FS for Church in our file. Churches are considered non-stock non-profit corporation, hence, you can check the sample nonprofit FS above. However, please be reminded that your church may belong to Small and medium entities, which in such case will adopt PFRS for SMEs. I suggest that your church invest in hiring an accountant or at least sponsor a personnel to be trained. There are accounting seminars and tutorials out there which can help you on that matter.

  10. Jun says

    What about audited FS for self employed professionals, i.e. consultants/contractors? Thanks.. A bank is asking me for this one because I applied for a credit card, I only have BIR 2307 so far.

  11. berna says

    Hi, where can I get audited financial statements of Philippine Airlines? I’m talking about the latest, 2010 Please reply on my email. Thanks

  12. gie says


    i’d like to know if a sole proprietor is required or mandated by BIR to submit a CASHFLOW STATEMENT, along with its balance sheet and income statement, during the filing of Annual Income Tax Return?

    badly need your help in clarifying this matter.

    thank you.

    • Vic says

      If you did not opt to avail Optional Standard Deduction in your Annual ITR (BIR Form 1701), then you’re required to attach Account Information Return (AIF)/Financial Statements. And if your gross quarterly sales, earnings, receipts or output exceed P 150,000… you are also required to submit The CPA Certificate aside from the Financial Statements. The Statement of Cash flow is a major component of financial statements. You can check BIR Form 1701 and see the “Attachments Required” stated at the back of the form.

  13. Ferdie says

    Hi Vic,

    I came across your site by searching about Audited Financial Docs/Statements which is usually required by Banks when applying for Personal Loans under Self-Employed status.

    As a single proprietor for a small computer service, I am not sure if I need this at this level (as compared to corporation) but I soon realize banks require us.

    In your opinion, will this provider be able to help me out with my (normally 2-3yrs) Audited Financial docs as required by banks? Is this offer reliable or will it just be a waste?

    Hope to hear from you soon.


  14. Wally says

    Hi, my group is doing a project in our school regarding business and we are asked to get some financial documents like Gross Revenue, Gross Annual Sales and Net Income. Where in the web can I get some of these specifically on a freight forwarder companies. I tried surfing in the but found none. Please help me. Thanks

    • Vic says

      Usually, only public entities / publicly listed companies publish their Financial Statements on the Web. You can read our article on how to get FS here, . You can find FS of publicly listed companies in PSE website.

  15. quin says

    please please publish a audited financial statement of a bus company?? i really need to know about it.

    • Vic says

      Hi, I’m sorry but I don’t have such kind of AFS to publish. We only publish AFS of Listed Companies or those who publish their FS publicly.

      • quin says

        but why do some foreign bus transport company do publish financial statement? they publish a set of annual reports on web, yet the phil. bus do not? can i ask the reason why? thnks

  16. quin says

    sir, if i can’t have a audited financial statement of a phil. bus company. where can i at least access a copy or sample of a financial statement of a bus company? sir i need to know about how to create or how the FS of a bus company, specially the notes differ from other? thnks

    • Vic says

      You may try to visit Securities and Exchange Commission office and try to ask if you can access reports from such type of companies. Kindly read for more guidance.

  17. Erika says

    Sir, we are an internet research firm registered in SEC with business line belonging to Extraterritorial Org & Body, being owned by foreigner. This April 2012 we’ll be closing the office and will all work from home as this is convenient and more practical. My question is, do I need to renew our business permit? Is it needed in the 2011 Financial Statement? Please clarify. Thanks in advance

  18. Jenny says


    please publish me a sample format of FS for a new business started its operation Feb. 2011 nature of business is manufacturing of school and office supplies and importer of raw materials for s/o supplies.. Thank you.

  19. regie says

    what will be the effect if the sole proprietor did not submit its fs in compliance to PFRS for SMEs..thanks!

  20. Alvin says


    do you have an example of audited financial statements with qualified, adverse and disclaimer report?

  21. Uen Mercado says

    Hello Vic,

    Im a first time Accounting practitioner. All of my clients are doctors with sole proprietor and partnership set-up. Im at lost at preparing notes to financial statements. The BS/IS/CF and CE I have alreaady fininshed, notes nalang kulang ko. can you help me with this. Wala sa sec and i cant find one at the webb. is it the same as the as smes note. I will greatly appreciate your help.


    • says

      Hi. There is PFRS (Philippine Financial Reporting Standards) for SMEs. But I don’t have any copy of illustrative example. However, you may check this overview from the PICPA website for more understanding.

      • says

        hi, goodafternoon kuya can you give me a comment about the audited fs in the corporation about the Panasonic Manufacturing Philippines
        pls kindly message to my facebook account. cutiemeldx_bangz@y.c

  22. grace says


    We have 3 different sets of receipts: sales invoice, charge invoice and official receipt. We issue sales invoice for cash sales transactions, charge invoice for sales on account, and OR for collection on account. For the months of January to March 2011, we recorded the sales invoices and charge invoices in our subsidiary sales journal. However, from April 2011 to present, we record the sales invoices and ORs in our subsidiary sales journal, what would be its tax consequences? your response will be highly valued and appreciated. thank you!

  23. Rain says

    Hello Vic,

    I am preparing FS for sole prop, I already include 1601E that i’m about to remit in current assets, and percentage tax payable in current liabilities. My problem is do I have to include percentage tax and 1601E paid on Cash flow? How about the unpaid/unremitted payment?

      • Rain says

        Hi Ms. Belle,
        Thanks a lot for the info!
        I also wanted to ask what amount will i carry over this quarter since the result on my 1701 computation is net loss,
        is it the amount after personal exemption or before the exemption?
        what if I incur net loss after i deducted my personal exemption do i still have to carry it over this quarter?

        • says

          Rain, I believe it should be before the exemption because net operating loss is gross income less allowable deductions and personal exemption in not an allowable deduction but an exemption. To carry-over personal exemptions would be an unequal application of income tax rules with respect to pure compensation income who does not enjoy NOLCO deductions.

  24. ellen gonzaga says

    Hello Vic,

    Can you give me sample of audited financial statement of a partnership (law firm)? I just want to know how the statement of changes in equity will be presented in partnership set up.


    • says

      Hi Ellen, I suggest you register for SEC I-view ( account so you could have access to SEC filed financial statements. There is a minimal corresponding cost for SEC site maintenance and operations.

  25. babyheron says

    Hello po,

    We are required of our teacher to search some FS of a company, for us to analyze their transaction. I would like to ask if you have audited FS that easy to be reported in our class. Thanks ahead

  26. fredrick panjaitan says

    Hello Vic,

    may i know how to get the financial statement of five star hotels in metro manila (deluxe) for 2007 up to 2011 since in I-view only 2006 audited financial statement is available.

    thanks and God bless.

  27. Jade says

    Hello po sa lahat.

    ang bad debts expense ba eh sa Finance cost siya ika classify sa audited FS? kasi ganon ginawa ng mga auditor namin eh. tsaka anong basis?


  28. Mesh says

    may i ask how will i classify benquet corporation ? it’s course of business is mining, in the same way they merchandise and do service activity. is is service,merchandising or manufacturing? tnx a lot

  29. says

    Sir can you please post an actual sample of income statement & balance sheet format that an educational institutions frequently use. I need ideas of the sample entries to be included in the operating expenses in preparing an income statement for the school. Thank you sir in advance.

  30. Luz Barnuevo says

    Good day! Sir, I would like to inquire whether a general professional partnership is
    required to file monthly 2551M (Percentage Tax) if the partners are filing their individual 1701(inclusive of income of GPP)at the same time? Is it not double taxation?

    Thank you Sir.

  31. daniel says

    Do you have a audit report template for a closing corporation? I want to know what part of the report should accountants states that the said company is closing on that fiscal year. tnx

  32. Mae Laviña says

    Can you post a financial statement of a Lending Institution here in the Philippines? Please :( thanks. Hope you’ll get my message soon..

  33. Robe says


    I would like to confirm if the Financial Statements of a sole prop can be in a non-comparative presentation? My client is insisting that there’s no need to present comparative figures. Ang sa akin namin, it should be presented in a comparative kahit hindi ka SEC registered. My rulings ka ba jan sir????