SEC Tightens Rules for IPO-Bound Firms

The Securities and Exchange Commission (SEC) has tightened regulations for companies seeking to go public, requiring IPO-bound companies to submit a Prospective Financial Information or PFS that uses forecast and not just projections. This is in accordance with the Philippine Standard on Assurance Engagements, or PSAE 3400. The SEC said the use of the hypothetical assumptions project approach is limited in use and would not be…

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