UNA Tax and Accounting

In observance of National Heroes Day, please be advised that our office will be CLOSED on August 31, 2026 (Monday).

Our regular business operations will resume on Tuesday, September 1, 2026.

📢 For employers and employees: The Department of Labor and Employment (DOLE) has issued Labor Advisory No. 13, Series of 2026, outlining the wage payment rules for the Regular Holiday on August 31, 2026. We encourage everyone to review the advisory and take note of the applicable holiday pay guidelines.

If you need assistance with payroll processing, holiday pay computation, tax compliance, or other accounting requirements, feel free to contact us.

Let us take this day to honor the courage, sacrifices, and contributions of the Filipino heroes who helped shape our nation, as well as the everyday heroes who continue to serve with dedication and integrity.

We wish everyone a meaningful, safe, and restful National Heroes Holiday!

📢 Big shift for companies planning to raise capital: the SEC has made online filing mandatory for registration statements.

Under SEC Memorandum Circular No. 24, Series of 2026, all applications for Initial Public Offerings (IPOs), Follow-On Offerings, Direct Public Offerings, and first-tranche Shelf Registrations must now go through the Online Application for Registration 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀 (𝗢𝗔𝗥𝗦) no more manual submissions.

W𝗵𝗮𝘁 𝘁𝗵𝗶𝘀 𝗺𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝘆𝗼𝘂:

✅Processing time drops to 𝟰𝟬 𝗱𝗮𝘆𝘀 (once fees are paid)
✅You'll need an eSECURE account before you can apply
✅Pending applications continue under the old process only new applications must use OARS

If your company is planning a public offering, don't get caught unprepared by the new system.

📩 Talk to UNA about getting your eSECURE account and application ready.

📋 Financing and lending companies (FCs/LCs): the SEC just adopted a new standard Business Plan form and if you're planning to operate or expand, this affects your next filing.

Under the "2026 BP Guide" (SEC Notice, 26 August 2026), all FCs and LCs must now use SEC Form BP-01 for both original and amended Business Plans. No other format will be accepted.

𝗛𝗲𝗿𝗲'𝘀 𝘄𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱:

✅Newly incorporated FCs/LCs must submit their Original Business Plan within 60 days of receiving their Certificate of Authority
✅Companies planning to run Online Lending Platforms (OLPs) must disclose and record these first
✅Amendments now require a sworn comparative matrix showing exactly what changed

Filing incorrectly or late can delay your ability to legally operate. Let UNA make sure your submission is airtight from day one.

📩 Message us to get started.

𝗔 𝗺𝗮𝗷𝗼𝗿 𝗮𝘂𝗱𝗶𝘁 𝗳𝗮𝗶𝗹𝘂𝗿𝗲 𝗶𝘀 𝗽𝘂𝘀𝗵𝗶𝗻𝗴 𝘁𝗵𝗲 𝗦𝗘𝗖 𝘁𝗼 𝗴𝗲𝘁 𝘀𝘁𝗿𝗶𝗰𝘁𝗲𝗿 𝗼𝗻 𝘄𝗵𝗼 𝗴𝗲𝘁𝘀 𝗶𝘁𝘀 𝘁𝗼𝗽 𝗮𝘂𝗱𝗶𝘁𝗼𝗿 𝗮𝗰𝗰𝗿𝗲𝗱𝗶𝘁𝗮𝘁𝗶𝗼𝗻.

Following the MFT Group case, where auditors from a PwC Philippines affiliate reportedly signed off on financial statements later flagged as misleading, the SEC says it's preparing new rules limiting "Group A" accreditation, needed to audit the country's biggest and publicly listed companies, to auditors with zero findings of material deficiency.

✅𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: Audit credibility affects investor and stakeholder confidence, not just for listed companies.
✅𝗛𝗼𝘄 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽: We stay current on SEC accreditation standards so you always know your engagement is backed by properly qualified professionals.

This is still a proposal, not a final rule. We'll keep you posted. Questions? Message us!💬

𝗧𝗵𝗲 𝗦𝗘𝗖 𝗷𝘂𝘀𝘁 𝘀𝗶𝗴𝗻𝗮𝗹𝗲𝗱 𝗮 𝗳𝗮𝘀𝘁𝗲𝗿 𝗽𝗮𝘁𝗵 𝘁𝗼 𝗼𝗽𝗲𝗻𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗵𝗶𝗹𝗶𝗽𝗽𝗶𝗻𝗲𝘀.

Under a proposed "One Business Start Date," companies could start commercial operations as soon as they secure SEC registration, even while other permits are still being processed. It's part of a broader "next-wave" reform push that also includes a review of margin trading rules to improve market liquidity, work with the World Bank to simplify debt vs. equity offering requirements, and a long-term Capital Market Master Plan with the ADB aimed at making the Philippines a leading Southeast Asian market by 2030.

None of this is final yet, but it's worth watching if you're planning to register a new entity soon. Questions on what this could mean for your timeline? Send us a message!💬

🔍 𝗡𝗲𝘄 𝗕𝗜𝗥 𝗔𝘂𝗱𝗶𝘁 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸: 𝗪𝗵𝗮𝘁 𝗧𝗮𝘅 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗞𝗻𝗼𝘄

The BIR just released RMO No. 022-2026, consolidating and revising its audit policies, guidelines, and procedures for the first time under a unified framework.

𝗪𝗵𝗮𝘁'𝘀 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴:

✅Risk-based audit selection (data analytics, taxpayer profile assessment)
✅Standardized audit procedures across all BIR offices
✅Enhanced control mechanisms and audit transparency
✅Clear taxpayer rights under mandatory audit verification

𝗪𝗵𝘆 𝗶𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀:
If you're a tax professional or business owner, the BIR's new audit program affects how you're selected for audit, what procedures apply, and your compliance obligations. Understanding the framework = better audit readiness.

Get ahead of changes. Let's review your audit compliance strategy. Read the full update

Most finance teams think they're audit-ready because their financial statements are done.

Then the auditor asks for the reconciliation behind a single receivable balance. And the adjustments start piling up; missing schedules, unsupported balances, weeks of scrambling.

The problem isn't your numbers. It's what stands behind them.

Audit-ready means every account has supporting documentation. Every balance is reconciled monthly, not just at year-end. Every major approval is on paper. That's not luck; that's discipline.

Want to know the warning signs you're only looking audit-ready?

Read the full guide in the comment section below.

⚠️ 𝗔𝘂𝗱𝗶𝘁 𝗙𝗶𝗿𝗺 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: 𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗜𝘀𝗹𝗮 𝗟𝗶𝗽𝗮𝗻𝗮 𝗖𝗮𝘀𝗲 𝗠𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗬𝗼𝘂𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲

The Philippines' largest accounting firm, Isla Lipana (PwC's Philippine member), faced serious fallout this week after auditors were implicated in the MFT Group investment fraud scandal.

𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱:

✅Two Isla Lipana partners were dismissed and forfeited benefits
✅Criminal charges filed against auditors for alleged collusion in fraudulent financial statements
✅The firm was accused of validating fake dividend income to lure investors

𝗪𝗵𝘆 𝗶𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀:
Your auditor's role is to protect your financial credibility, not rubber-stamp it. This case shows what happens when that standard is breached.

Strong audit practices stronger compliance foundation for your business. Let's talk about your audit & compliance strategy. 💬

Estimating your sales and expenses to hit a filing deadline feels like a reasonable shortcut. It isn't. BIR doesn't need to audit every business to spot the problem. Their RELIEF system handles the matching automatically.

Your supplier declares a ₱2M sale to you. Your books show ₱1.2M in estimated purchases. That ₱800K gap sits in BIR's system until an assessment officer picks it up. Round figures, repeating numbers, and mismatches against third-party data all trigger review; long before anyone manually opens your file.

What starts as a compliance gap compounds quickly. Deficiency tax, surcharge, interest, and compromise penalties stack on top. The businesses treating estimation as harmless are usually the same ones paying six-figure bills later.

The fix isn't complicated. It just requires discipline:

→ Reconcile recorded sales against actual 2307s and invoices → Match every expense to real supplier documentation → Resolve missing documents within that same period → File on time with what you can support, amend once records are complete

BIR's cross-matching will find estimated entries eventually. The only question is whether you do it first.

Check the comments for the full article link.

𝗘𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗧𝗢𝗗𝗔𝗬 (𝗔𝘂𝗴 𝟮𝟬): 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗢𝗳𝗳𝗶𝗰𝗲𝘀 & 𝗦𝗰𝗵𝗼𝗼𝗹𝘀 𝗶𝗻 𝟭𝟳 𝗣𝗿𝗼𝘃𝗶𝗻𝗰𝗲𝘀 + 𝗡𝗖𝗥 𝗼𝗻 𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲 𝗔𝗿𝗿𝗮𝗻𝗴𝗲𝗺𝗲𝗻𝘁𝘀

The Office of the President issued 𝗠𝗲𝗺𝗼𝗿𝗮𝗻𝗱𝘂𝗺 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 𝗡𝗼. 𝟭𝟯𝟭 today in response to heavy rainfall and flooding risks. Here's what affects your business:

✅Government offices in NCR and 17 provinces → Alternative work arrangements (AW)
✅Schools (all levels, public & private) → Alternative learning modes
✅COS/JO workers must receive corresponding wages or salaries no pay cuts
✅Private sector: Discretionary; management decides

If you have employees on COS or JO contracts, or operations in the affected regions, 𝗿𝗲𝘃𝗶𝗲𝘄 𝘆𝗼𝘂𝗿 𝗽𝗮𝘆𝗿𝗼𝗹𝗹 𝗽𝗿𝗼𝘁𝗼𝗰𝗼𝗹𝘀 𝗻𝗼𝘄. Wage non-compliance risks penalties.

Need guidance? message us.💬