Ivy Ann Bautista

• Review of the monthly and annual financial
statements of the GSIS prepared under PFRS;
• Review of the annual financial statements of the
GSIS Provident Fund prepared under PFRS;
• Review of significant accounting and reporting
issues, including complex transactions as well as
recent professional and regulatory
pronouncements, and understand their possible
impact on GSIS financial statements;
• Review the regular internal reports prepared by
the Internal Audit Services Office and
management’s responses thereto to ensure that
management is taking appropriate corrective
actions;
• Review the results of regular audits conducted
by the Commission on Audit (COA) and ensure
that the management’s responses are adequate
and that management is taking appropriate
corrective actions;
• Review of the Audit Committee meeting agenda,
directives and minutes of meeting;
• Review of reports submitted to the Audit
Committee;
• Monitoring of management’s compliance to the
Audit Committee directives;
• Perform other related functions as may be
assigned from time to time;

• Review of the monthly and annual GSIS financial
statements prepared under PFRS;
• Review of significant accounting and reporting
issues, including complex transactions as well as
recent professional and regulatory
pronouncements, and understand their possible
impact on GSIS financial statements;
• Review the results of regular audits conducted
by the COA and ensure that the management’s
responses are adequate and that management
is taking appropriate corrective actions;
• Review of the Audit Committee meeting agenda,
directives and minutes of meeting;
• Monitoring of management’s compliance to the
Audit Committee directives;
• Perform other related functions as may be
assigned from time to time;

• Provide advisory services on matters relating to
the operations of the GSIS, especially in my line of
expertise;
• Prepare position papers/reports as required;
• Undertake special studies on various financial
matters as may be assigned;

Engagement responsibilities include, among others, the following:
•Performance and supervision of the audit of clients;
•Review of the company’s financial statements prepared under PFRS, income tax computations, income tax returns and other reports for statutory compliance;
•Gain comprehensive understanding of client operations, processes, and business objectives and utilize that knowledge in assessing significant audit risks, determining materiality and developing audit plans;
•Responding to management’s queries in a timely manner and taking into account their concerns in the execution of the audit;
•Identification of audit issues for discussion with management and active involvement during internal and client meetings;
•Drafting of deliverables such as client correspondence, consultation documentation, memoranda, management letter and other pertinent documents or communications relative to the engagement;
•Developing good professional relationships with company personnel through constant communications;
•Active participation in team planning activities;
•Preparation of audit programs for the substantive audit procedures to be performed by the engagement team;
•Supervising the work done by audit staff and providing on-the-job coaching as well as the drafting of individual performance reviews;
•Regularly monitoring the engagement economics and the progress of the audit;

Engagement responsibilities include, among others, the following:
•Examine and validate financial statements prepared under International Financial Reporting Standards (IFRS) and underlying accounting data by carrying out audit procedures;
•Performance of audit programs for the substantive audit procedures;
•Ensure proper documentation of work done to support audit opinion;
•Responding to management’s queries in a timely manner and taking into account their concerns in the execution of the audit;
•Reports any issue identified to immediate superiors;
•Developing good professional relationships with client personnel;

Engagement responsibilities include, among others, the following:
•Examine and validate financial statements prepared under PFRS and underlying accounting data by carrying out audit procedures;
•Assist client in the preparation of income tax return and other reportorial requirements;
•Reports any issue identified to immediate superiors;
•Ensure proper documentation of work done to support audit opinion;
•Obtain comprehensive understanding of the client’s business and processes;
•Directly interacts with client’s employees and executives;