THE Securities and Exchange Commission (SEC) has incorporated the latest Philippine Financial Reporting Standards (PFRS) and other financial reporting pronouncements into its financial reporting rules, as reported by BusinessWorld. SEC Memorandum Circular No. 22, Series of 2026, updates the agency’s regulatory framework to align with current accounting and sustainability reporting standards.
The circular adopts the latest PFRS, Philippine Interpretations Committee Questions and Answers (PIC Q&As), and related pronouncements. These standards are meant to enhance the transparency, comparability, and reliability of financial statements filed by publicly listed companies and other covered entities.
By embedding sustainability reporting into its rules, the SEC aims to encourage better disclosure of environmental, social, and governance (ESG) factors. This move supports the Philippines’ commitment to global best practices in corporate reporting and sustainable development.