Citystate Savings taps P&A as external auditor
This thrift bank will be relying on Punongbayan & Araullo for a regular review of its books.
Citystate Savings Bank owned by tycoon and former Ambassador Antonio Cabangon Chua has chosen this esteemed audit firm to independently assess its books and financial operations, the thrift bank told the Philippine Stock Exchange.
Banks and other Philippine companies are required to tap the services of external auditors in order to vouch for the integrity and accuracy of its operations, as well as its reported financial statements.
P&A is part of the global chain Grant Thornton, a group of independently owned and managed accounting and consulting firms.