Crestita Ferano Alcazar
OFFICE ADDRESS: 15359 Sto. Niño Street, San Agustin Village, Moonwalk, Parañaque City Tel No. (632) 821-5931 ▪ Telefax No. (632) 821-1562 CERTIFIED PUBLIC ACCOUNTANT LICENSE NO. 045815
Report of Independent Auditor
The Board of Directors XJJ Customs Brokerage & Forwarders, Inc. No.9 Jordan St., LSB Bldg., Multinational Village, Parañaque City
I have audited the accompanying financial statements of XJJ CUSTOMS BROKERAGE & FORWARDERS, INC., which is comprised of the balance sheets as of December 31, 2008 and 2007 and the income statement for the years then ended. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and the fair presentation of these financial statements in accordance with Philippine Financial Reporting Standards. This responsibility includes; designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility My responsibility is to express an opinion on the financial statements based on my audits. I conducted my audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with ethical requirements and plan perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatements. An audit involves performing procedure to obtain audit evidence about the amounts and disclosure in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risks assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial statements presents fairly, in all material respects, the financial position of XJJ CUSTOMS BROKERAGE & FORWARDERS, INC. as of December 31, 2008 and 2007 and of this financial performance for the years then ended in accordance with Philippines Financial Reporting Standards.
CRESTITA F. ALCAZAR CPA Certificate No. 45815 BOA Cert. No. 1657 SEC Accreditation No. 0483-A BIR Accreditation No. AN 08-001705-1-2006 Tax Identification No. 139-656-108 PTR No.84993696M, January 09, 2009, Parañaque City
April 13, 2009