PHILIPPINE ACCOUNTING STANDARDS (PAS)

PAS 1 (Revised)- Presentation of Financial Statements (01/01/09)

Amendment to PAS 1: Capital Disclosures (01/01/07)
Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on
Liquidation (01/01/09)
PAS 2- Inventories (01/01/05)
PAS 7- Statement of Cash Flows (01/01/05)
PAS 8- Accounting Policies, Changes in Accounting Estimates and Errors (01/01/05)
PAS 10- Events after the Balance Sheet Date (01/01/05)
PAS 11- Construction Contracts (01/01/05)
PAS 12- Income Taxes (01/01/05)
Amendment to PAS 12 - Deferred Tax: Recovery of Underlying Assets (01/01/12)
PAS 16- Property, Plant and Equipment (01/01/05)
PAS 17- Leases (01/01/05)
PAS 18- Revenue (01/01/05)
PAS 19- Employee Benefits (01/01/05)
Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and Disclosures (01/01/06)
PAS 19(amended) - Employee Benefits (01/01/13)
PAS 20- Accounting for Government Grants and Disclosure of Government Assistance
PAS 21- The Effects of Changes in Foreign Exchange Rates (01/01/05)
Amendment: Net Investment in a Foreign Operation (01/01/06)
PAS 23 (Revised) - Borrowing Costs (01/01/09)
PAS 24 (Revised)- Related Party Disclosures (01/01/11)
PAS 26- Accounting and Reporting by Retirement Benefit Plans (01/01/05)
PAS 27 (Revised)- Consolidated and Separate Financial Statements (07/01/09)
Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or
Associate (01/01/09)
PAS 27 (Amended)- Separate Financial Statements (01/01/13)
PAS 28- Investments in Associates (01/01/05)
PAS 28 (Amended)- Investments in Associates and Joint Ventures (01/01/13)
PAS 29- Financial Reporting in Hyperinflationary Economies (01/01/05)
PAS 31- Interests in Joint Ventures (01/01/05)
PAS 32- Financial Instruments: Disclosure and Presentation (01/01/05)

Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on
Liquidation (01/01/09)

Amendment to PAS 32: Classification of Rights Issues (02/01/10)

PAS 33- Earnings Per Share (01/01/05)

PAS 34- Interim Financial Reporting (01/01/05)

PAS 36- Impairment of Assets (01/01/05)

PAS 37- Provisions, Contingent Liabilities and Contingent Assets (01/01/05)

PAS 38- Intangible Assets (01/01/05)

PAS 39- Financial Instruments: Recognition and Measurement (01/01/05)

Amendments to PAS 39: Transition and Initial Recognition of Financial Assets and Financial Liabilities
(01/01/05)

Amendments to PAS 39: Cash Flow Hedge Accounting of Forecast Intragroup Transactions (01/01/06)

Amendments to PAS 39: The Fair Value Option (01/01/06)

Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts (01/01/06)

Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets (07/01/08)

Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets – Effective Date and Transition
(07/01/08)

Amendments to Philippine Interpretation IFRIC–9 and PAS 39: Embedded Derivatives (06/30/09)

Amendment to PAS 39: Eligible Hedged Items (07/01/09)

PAS 40- Investment Property (01/01/05)

PAS 41- Agriculture (01/01/05)

Framework for the Preparation and Presentation of Financial Statements- Preparation and Presentation of
Financial Statements Conceptual Framework Phase A: Objectives and qualitative characteristics (07/01/11)
Improvements to PFRSs 2010 - Improvements to PFRSs 2010 (A Collection of Amendments to Seven
International Financial Reporting Standards) (01/01/11)
PFRSs Practice Statement Management Commentary- PFRSs Practice Statement Management Commentary
(06/29/11)
PHILIPPINE FINANCIAL REPORTING STANDARDS (PFRS)
PFRS 1 (Revised)- First-time Adoption of Philippine Financial Reporting Standards (07/01/09)
Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or
Associate (01/01/09)
PFRS 1(revised) Amendments to PFRS 1: Additional Exemptions for First-time Adopters (01/01/10)
Amendment to PFRS 1: Limited Exemption from Comparative PFRS 7 Disclosures for First-time
Adopters (07/01/10)
Amendments to PFRS 1: Severe Hyperinflation and Removal of Fixed Date for First-time Adopters
(07/01/11)
PFRS 2- Share-based Payment (01/01/05)
Amendments to PFRS 2: Vesting Conditions and Cancellations (01/01/09)
Amendments to PFRS 2: Group Cash-settled Share-based Payment Transactions (01/01/10)
PFRS 3 (Revised)- Business Combinations (07/01/09)
PFRS 4- Insurance Contracts (01/01/05)
Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts (01/01/06)
PFRS 5- Non-current Assets Held for Sale and Discontinued Operations (01/01/05)
PFRS 6- Exploration for and Evaluation of Mineral Resources (01/01/06)
PFRS 7- Financial Instruments: Disclosures (01/01/07)
Amendments to PFRS 7: Transition (01/01/07)
Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets (07/01/08)
Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets - Effective Date and Transition
(07/01/08)
Amendments to PFRS 7: Improving Disclosures about Financial Instruments (01/01/09)
Amendments to PFRS 7: Disclosures - Transfers of Financial Assets (07/01/11)
PFRS 8- Operating Segments (01/01/09)
PFRS 9- Financial Instruments (01/01/13)
PFRS 10- Consolidated Financial Statements (01/01/13)
PFRS 11- Joint Arrangements (01/01/13)
PFRS 12- Disclosure of Interests in Other Entities (01/01/13)
PFRS 13- Fair Value Measurement (01/01/13)
PHILIPPINE STANDARDS ON AUDITING (PSAS)
PSA 120 - Framework of Philippine Standards on Auditing
PSA 200 (Revised and Redrafted) - Overall Objectives of the Independent Auditor and the Conduct of an Audit
in Accordance with International Standards on Auditing
PSA 210 (Redrafted) – Agreeing the Terms of Audit Engagements
PSA 220 (Redrafted) – Quality Control for Audits of Historical Financial Statements
PSA 230 (Redrafted) – Audit Documentation
PSA 240 (Redrafted) – The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements
PSA 250 (Redrafted) – Consideration of Laws and Regulations in an Audit of Financial Statements
PSA 260 (Revised and Redrafted) – Communication with Those Charged with Governance
PSA 265 (New) - Communicating Deficiencies in Internal Control to Those Charged with Governance and
Management
PSA 300 (Redrafted) – Planning an Audit of Financial Statements
PSA 315 (Redrafted) – Identifying and Assessing the Risks of Material Misstatement through Understanding
the Entity and Its Environment
PSA 320 (Revised and Redrafted) – Materiality in Planning and Performing an Audit
PSA 330 (Redrafted) – The Auditor's Responses to Assessed Risks
PSA 402 (Revised and Redrafted) – Audit Considerations Relating to Entities Using Service Organizations
PSA 500 (Redrafted) – Audit Evidence
PSA 501 (Redrafted) – Audit Evidence – Additional Considerations on Specific Items
PSA 505 (Revised and Redrafted) – External Confirmations
PSA 510 (Redrafted) – Initial Audit Engagements-Opening Balances
PSA 520 (Redrafted) – Analytical Procedures
PSA 530 (Redrafted) – Audit Sampling
PSA 540 (Revised and Redrafted) – Auditing Accounting Estimates, Including Fair Value Accounting Estimates,
and Related Disclosures
PSA 550 (Revised and Redrafted) – Related Parties
PSA 560 (Redrafted) – Subsequent Events
PSA 570 (Redrafted) – Going Concern
PSA 580 (Revised and Redrafted)– Written Representations
PSA 600 (Revised and Redrafted) – Special Considerations-Audits of Group Financial Statements (Including the
Work of Component Auditors)
PSA 610 (Redrafted) – Using the Work of Internal Auditors
PSA 620 (Revised and Redrafted) – Using the Work of an Expert
PSA 700 (Redrafted) – The Independent Auditor’s Report on a Complete Set of General Purpose Financial
Statements
PSA 705 (Revised and Redrafted) - Modifications to the Opinion in the Independent Auditor's Report
PSA 706 (Revised and Redrafted) - Emphasis of Matter Paragraphs and Other Matter Paragraphs in the
Independent Auditor's Report
PSA 710 (Redrafted)– Comparative Information-Corresponding Figures and Comparative Financial Statements
PSA 720 (Redrafted) – The Auditor's Responsibilities Relating to Other Information in Documents Containing
Audited Financial Statements
PSA 800 (Revised and Redrafted) – Special Considerations-Audits of Financial Statements Prepared in
Accordance with Special Purpose Frameworks
PSA 805 (Revised and Redrafted) - Special Considerations-Audits of Single Financial Statements and Specific
Elements, Accounts or Items of a Financial Statement
PSA 810 (Revised and Redrafted) - Engagements to Report on Summary Financial Statements