Republic Acts1 min read
Section 47Sec./Art. 47
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Accounting Rules and Regulations for Pre-need Plans. - The Commission shall have the authority to make, amend and rescind such accounting rules and regulations applicable for pre-need companies. The Commission may prescribe, among other things, the form or forms in which required information shall be set forth, the items or details to be shown in the components of the financial statements, and the recognition and measurement basis to be adopted for each account, after considering the nature of the operation of the pre-need industry. Pre-need companies shall strictly comply with such accounting rules and regulations as prescribed by the Commission.
CHAPTER XII
SUSPENSION OR REVOCATION OF AUTHORITY
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