JEREMIAS C.

GARCIA
Certified Public Accountant
Board Certificate No. 0027698
408-C Cerin Bldg. Maharlika Hi-way
Dicarma, Cabanatuan City

INDEPENDENT AUDITORS REPORT

MACARIO C. ORTIZ LUIS
(MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM)
Cabiao, Nueva Ecija
I have audited the accompanying financial statement of MY-MAR ENGINEERING AND INDUSTRIAL
SYSTEM, which comprise the comparative statement of financial position as of December 31, 2014 and
2013 the statement of activities and cash flows for the year then ended, notes to financial statement
comprising of summary of significant accounting policies and other explanatory notes.

Managements Responsibilities for the Financial Statements

Management is responsible for the preparation and the fair presentation of these financial statements in
accordance with the Philippine Financial Reporting Standards for Small and Medium-sized Entities. This
responsibility includes: designing, implementing and maintaining internal control relevant to the preparation
and fair presentation of statement that are free from material misstatement, whether due to fraud or error;
selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable
in the circumstances.

Auditors Responsibility

My responsibility is to express an opinion on these financial statements based on my audits. I conducted my

audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditors judgment, including the assessment of
the risk of material misstatement of the financial statements, whether due to fraud or error. In making those
risk assessment, the auditor considers internal control relevant to the entitys preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion of the effectiveness of the entitys internal
control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit
opinion.

Opinion
In my opinion, the financial statements present fairly, in all material respects, the financial position of MYMAR ENGINEERING AND INDUSTRIAL SYSTEM as of December 31, 2014 and 2013, statement of
activities and its cash flow for the year then ended in accordance with Philippine Financial Reporting
Standards for Small and Medium-sized Entities.

Report on Other Legal Regulatory Requirements

The supplementary information on taxes and licenses in Note to the financial statements is presented for
purposes of filing with the Bureau of Internal Revenue and is not a required part of the basic financial
statements.

JEREMIAS C. GARCIA
Independent Auditor
TIN: 139-135-693
CPA Certificate No. 0027698

PTR No.CBN-0642063 1-5-2015, Cab. City

PRC BOA Accreditation No. 2943, September 19, 2012 to expire on December 31, 2015
CDA Reg, No. CEA 0486 dated December 20, 2013 to expire on December 19, 2016
BIR Accreditation No. 04-005239-1-2014, Issued January 13, 2014 to expire on January 13, 2017
April 15, 2015
Attached Financial Statements
Not Valid without
Auditors Dry Seal

JEREMIAS C. GARCIA
Certified Public Accountant
Board Certificate No. 0027698
408-C Cerin Bldg. Maharlika Hi-way
Dicarma, Cabanatuan City

STATEMENT OF REPRESENTATION
TO WHOM IT MAY CONCERN:
In connection with my examination of the financial statements of MY-MAR
ENGINEERING AND INDUSTRIAL SYSTEM covering the period ended December 31,
2014 and 2013 that are herewith submitted, I hereby represent the following:
1. That said financial statements herewith attached are prepared and presented in
conformity with the Financial Reporting Standards applicable to Small and
Medium Enterprises (SMEs) in the Philippines.
2. That in the conduct of my audit, I adhered to the Philippine Standard on
Auditing;
3.

That I am qualified as provided for in Section 8 of the Code of professional

Ethics for Certified Public Accountants;

4. That I am fully aware of my responsibility as an independent auditor for the

audit report issued and attached to the financial statements and the sanctions
to be bestowed on me for my misrepresentations that I any have willingly or
unwillingly committed;
5. That I make representation in my individual capacity;
6. That I am a member of PICPA in good standing;
It is however, understood that my accountability is based on matter within the
normal coverage of an audit conducted in accordance with Philippine standards on
Auditing.

JEREMIAS C. GARCIA
Independent Auditor
TIN: 139-135-693
CPA Certificate No. 0027698
PTR No.CBN-0642063 1-5-2015, Cab. City
PRC BOA Accreditation No. 2943, September 19, 2012 to expire on December 31, 2015
CDA Reg, No. CEA 0486 dated December 20, 2013 to expire on December 19, 2016
BIR Accreditation No. 04-005239-1-2014, Issued January 13, 2014 to expire on January 13, 2017
April 15, 2015
Attached Financial Statements
Not Valid without
Auditors Dry Seal

MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM

Cabiao, Nueva Ecija
STATEMENT OF MANAGEMENTS RESPONSIBILITY
FOR FINANCIAL STATEMENT
I, MACARIO C. ORTIZ LUIS am responsible for all information and representations
contained in the financial statements of MY-MAR ENGINEERING AND INDUSTRIAL
SYSTEM for the years ended December 31, 2014 and 2013. The financial
statements have been prepared in conformity with Financial Reporting Standards
applicable to Small and Medium Enterprises (SMEs)in the Philippines and reflect
amounts that are based on the best estimates and informed judgment of management
with an appropriate consideration to materiality.
In this regard, management maintains a system of accounting and reporting,
which provides for the necessary internal controls to ensure that transactions are
properly authorized and recorded, assets are safeguarded against unauthorized use of
disposition and liabilities are recognized.
I review the financial statements before such statements are approved and
submitted to the regulatory/supervisory agencies.
Jeremias C. Garcia, the independent auditor I have appointed, has examined the
financial statements in accordance with Philippine Standards on Auditing and and has
expressed its opinion on the fairness of presentation upon completion of such
examination, in his report.

Signed under oath by the following:

MACARIO C. ORTIZ LUIS
Proprietor

REPUBLIC OF THE PHILIPPINES

CITY OF CABANATUAN

)
) S.S

Subscribed and sworn to before me this ______day of __________________, 2015 at

Cabanatuan City.
WITNESS MY HAND AND NOTARIAL SEAL.

Supplementary Information required by Bureau of Internal Revenues Revenue

Regulation (RR) No. 15-2010]
On November 25, 2010 the Bureau of Internal Revenue issued Revenue
Regulations (RR) no 15-2010 which prescribes additional procedural and/or
documentary requirements in connection with the preparation and submission
of financial statements accompanying the tax returns. Under the said RR,
companies are required to disclose, in addition to the disclosures mandated
under PFRSs and such other standards and/or conventions that may hereof be
adopted, in the Notes to the Financial Statements, information on taxes, duties
and license fees paid or accrued during the taxable year. Following is the
required information under RR no. 15-2010 for the year ended December 31,
2014:
A. Value Added Tax
1. Output VAT
Non VAT

-0-

-0-

-0-

B. Withholding tax
1.Tax on Compensation and benefits
.
.
2.Expanded Withholding Taxes
.
.
3.Final withholding on Interest on Bank Deposits .
Sub-total
.
.
.
.
.
.

.
.
.
.

0-0-0-0-

2. Input VAT
Non VAT
Subtotal . .

C. All other taxes

Other taxes paid during the year recognized under Taxes and licenses
account in profit or Loss
1. Real Estate Tax .
2. Barangay Clearance
3. Licenses
3.1 Municipal License

.
.

.
.

.
.

.
.

4. Building Permits .
.
.
.
.
5. National
.
.
.
.
.
6. Local Tax
6.1 Community Tax Certificate for Corporation.
6.2 Brgy Permit & Certification Fee
.
.
7. Others
7.1 Percentage Tax Payment
.
.
7.2 Annual Registration Fee
.
.
.
7.3 Others
.
.
.
.
685.00
Sub-Total
.
.
.
.
.
TOTAL
.
.
.
.
.
D. Tax Assessment
None

.
.

P -0-0-0-

-0.
.

.-0. -0-

.
.

-0-

.
.
.
.

-0-0-07,
P 7, 685.00
P 7, 685.00