CPA convicted for certifying financial statements

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The Metropolitan Trial Court (MTC) of Mandaluyong sentenced a Certified Public Accountant (CPA) to six years imprisonment and ordered her to pay a fine of P100,000 for certifying an erroneous financial statement.Found guilty for violation of Section 257 (A)(2) of the National Internal Revenue Code of 1997, as amended (Tax Code) was Susan Mandia Nace. MTC Branch 98 Presiding Judge Eduardo Cruz Solangon Jr., convicted Nace for certifying the comparative financial statements of Enviroaire, Inc., containing essential misstatement for the years 2007 and 2008 despite knowledge of income payments from the Philippine National Police (PNP) which were not included in the said financial reports.

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