PCCI lauds SEC for sparing SMEs ‘unnecessary costs’

Small and medium enterprises (SMEs) are saved from unnecessary additional costs of doing business by the Securities and Exchange Commission’s (SEC) decision earlier this year not to amend some existing audit rules, the Philippine Chamber of Commerce and Industry (PCCI) said.

In a statement, the PCCI, the largest business group in the country, has lauded the SEC on its en banc decision not to amend Securities Regulation Code (SRC) 68, which is the commission’s existing regulation on audited financial statements (FS).