STATEMENT OF MANAGEMENT’S RESPONSIBILITY
FOR FINANCIAL STATEMENTS
REYNANTE C. MARATAS is responsible for all information and representations contained in the
financial statements for the calendar year ended December 31, 2018. The financial statements have
been prepared in conformity with the Philippine Financial Reporting Standards and reflect amounts
that are based on the best estimates and informed judgment of management with appropriate
consideration to materiality.
In this regard, the proprietor 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 or disposition and liabilities are recognized. The proprietor
likewise discloses to the its audit committee and to its external auditors:
1. All significant deficiencies in the design or operation of internal controls that could adversely
affect its ability to record, process and report financial data;
2. Material weaknesses in the internal controls and;
3. Any fraud that involves management or other employees who exercise significant roles in
internal control.
The Proprietor reviews the financial statements before such statements are available to the public.
CAROL YAP PELAEZ, CPA an independent auditor and appointed by the proprietor, has examined
the financial statements of the proprietor in accordance with Philippine Financial Reporting
Standards and has expressed his opinion on the fairness of presentation upon completion of such
examination.
Signed this 26th day of March, 2019.
_______________________________
Proprietor
STATEMENT OF MANAGEMENT’S RESPONSIBILITY
FOR ANNUAL INCOME TAX RETURN
The Proprietor is responsible for all information and representations contained in the financial
statements for the calendar year ended December 31, 2018. The financial statements have been
prepared in conformity with the Philippine Financial Reporting Standards and reflect amounts that
are based on the best estimates and informed judgment of management with appropriate
consideration to materiality.
In this regard, the proprietor that the attached audited financial statements for the year ended
December 31, 2018 and the accompanying Annual Income Tax Return are in accordance with the
book and records and are complete and correct in all respects. The Proprietor likewise affirms that:
a) The Annual Income Tax Return has been prepared in accordance with the provision of the
National Internal Revenue Code, as amended, and pertinent tax regulations and other
issuances of the Department of Finance and the Bureau of Internal Revenue;
b) Any disparity of figures in the submitted reports arising from the preparation of financial
statements pursuant to the financial accounting standard and the preparation in the income
tax return pursuant to the tax accounting rules has been reported as reconciling items and
maintained in the proprietor’s books and records in accordance with the requirement of
Revenue Regulation No. 8-2007 and other relevant issuances and;
c) REYNANTE C. MARATAS, has filed all applicable tax returns, reports and statements
required to be filed under Philippine Tax Laws for the reporting period and all taxes and other
impositions shown thereon to be due and payable have been paid for the reporting period,
except those contested in good faith.
Signed this 26th day of March, 2019.
_______________________________
Proprietor
