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Philippines

International Standards on Auditing

Summary
Auditing practices in the Philippines were assessed by the World Bank in 2001 in order to evaluate the weaknesses and strengths of the auditing requirements, and to review the reporting requirements against actual practices. The team conducting the assessment concluded that there was a need to strengthen regulation of auditing profession, enforcement powers and coordination among the regulators, adopt International Standards on Auditing (ISAs), and to improve auditors' performance, among other issues. According to the 2006 Update to the assessment, most of the shortcomings identified in 2001 were addressed. In 2004, the PICPA adopted with only minor modifications the International Federation of Accountants (IFAC) Code of Professional Ethics, and the Accountancy Act was revised the same year. By 2005, ISAs had been also fully adopted. The World Bank commended the Philippine authorities for the progress achieved; however it was noted that there were certain problems with the actual implementation of the auditing requirements. It was recommended that an oversight board for quality control be created, and the technical strength and resources of the Philippine Institute of Certified Public Accountants (PICPA) built up to improve compliance.

    General Overview

    As a part of a joint initiative of the World Bank and the International Monetary Fund (IMF) to prepare Reports on Observance of Standards and Codes (ROSCs), the auditing environment in the Philippines was assessed first in 2001, and in 2006 the assessment was updated. The 2001 ROSC concluded that despite an overall high level of development of auditing environment in the Philippines, the Philippine Statement of Auditing Standards and Practices (SASP) differed from ISAs and there were no implementation guidelines. Moreover, there was a need to strengthen regulation of auditing profession, enforcement powers and coordination among the regulators, and to improve auditors' performance. The Philippine authorities agreed with the conclusions of the World Bank, and in 2001 established an Oversight Committee to implement the World Bank's recommendations.
    The 2006 Update to the ROSC commended the Philippine authorities on the progress made in addressing shortcomings identified in 2001. In 2001 the ASPC initiated the reform of auditing standards with the objective to adopt ISAs. By 2005, ISAs and the IFAC Code of Professional Ethics had been fully adopted. Further, the Accountancy Law 2004 was amended in 2004 to mandate practice experience requirement for licensing of auditors, and continuing professional education requirement for renewing licenses. The PICPA became the authorized professional organization, with membership in PICPS being mandatory for all CPAs. In the area of enforcement, the 2006 Update noted, that the Securities and Exchange Commission (SEC) "took initial steps to review financial statements for compliance with accounting and regulatory rules' (p. 1). Further policy recommendations of the World Bank assessment team included strengthening quality and control review and education and training matters.
    The World Bank in 2006 observed that the legal system in the Philippines combines both common law principles and written law. The Corporation Code of the Philippines regulates both private stock companies and nonstock companies and designates the Securities and Exchange Commission (SEC) as the supervisor of all private corporations. The Securities Regulation Code regulates companies that issued securities. Only auditors accredited with the SEC can perform audits of public companies. Financial institutions are regulated by the General Banking Law of 2000 and must have their general purpose financial statements auditied by external auditors certified by the Central Bank. Under the Insurance Code, insurance companies must file their financial statements with the Insurance Commission (IC). As is the case with the SEC and the Central Bank, the IC provides insurance companies with a list of certified auditors who are allowed to perform audits in insurance companies. Other laws and regulations set reporting requirements for certain types of companies.
    At the time of the 2006 World Bank report, auditing requirements in the Philippines were established by the Auditing Standards and Practice Council (ASPC) of the PICPA. After the standards issued by the ASPC were approved by the Board of Accountancy (BoA) and the Professional Regulation Commission (PRC), they became the generally accepted auditing standards in the Philippines. The assessors noted that at the time of the assessment a new standard setting body was established under the rules and regulation implementing the Revised Accountancy Act - the Auditing and Assurance Standards Council (AASC). The AASC was expected to perform same function as the ASPC.
    The Philippines Institute of Certified Public Accountants is a member of the International Federation of Accountants (IFAC). (IFAC website)


    The Principles

    ISA 200 Objective and General Principles Governing an Audit of Financial Statements (effective 2006)

    The AASC reported in 2007 that that ISA 200 was adopted as PSA 200 on November 11, 2002 with effective date of June 30, 2003. PSA 200 was subsequently amended to incorporate changes introduced by PSA 700 (Revised). However, there is no indication that conforming amendments resulting from issuance of PSA 230 (Revised) were incorporated into PSA 200.

    ISA 210 Terms of Audit Engagements (effective 2006)

    The AASC reported in 2007 that that ISA 210 was adopted as PSA 210 on November 11, 2002 with effective date of June 30, 2003. PSA 210 was subsequently amended to incorporate changes introduced by PSA 700 (Revised). However, there is no indication that conforming amendments resulting from issuance of PSA 230 (Revised) were incorporated into PSA 200.

    As indicated in the 2007 Edition of the IFAC Handbook, ISRE 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity was issued in July 2005 and also gave rise to a conforming amendment to ISA 210. This conforming amendment is effective for audits of financial statements for periods beginning on or after December 15, 2006. This amendment deals with management's responsibility for establishing and maintaining effective internal control. According to the AASC 2007 report, PSRE 2410 was approved on August 21, 2006. However, there is no indication that the changes introduced by PSRE 2410 were incorporated into PSA 210.

    ISA 220R Quality Control for Audits of Historical Financial Information (effective 2005)

    The AASC reported in 2007 that ISA 220 (Revised) was adopted as PSA 220 (Revised), which is effective for periods beginning on or after June 15, 2006. As indicated in the 2007 Edition of the IFAC Handbook, ISA 220 (revised), Quality Control for Audits of Historical Financial Information is effective for audits of historical financial information for periods beginning on or after June 15, 2005.

    ISA 230R Documentation (effective 2006)

    The AASC reported in 2007 that ISA 230 (Revised) was adopted as PSA 230 (Revised), which is effective for periods beginning on or after June 15, 2006. As indicated in the 2007 Edition of the IFAC Handbook, ISA 230 (Revised) is effective for audits of historical financial information for periods beginning on or after June 15, 2006.

    ISA 240 The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements (effective 2004)

    The AASC reported in 2007 that ISA 240 was adopted as PSA 240 (Revised 2005), which is effective for periods beginning on or after June 15, 2006. PSA 240 will be replaced by PSA 240 (Redrafted) effective December 15, 2008. As indicated in the 2007 Edition of the IFAC Handbook, ISA 240 is effective for audits of historical financial information for periods beginning on or after December 15, 2004.

    ISA 250 Consideration of Laws and Regulations in an Audit of Financial Statements (effective 2004)

    The AASC reported in 2007 that ISA 250 was adopted as PSA 250, Consideration of Laws and Regulation in an Audit of Financial Statements on October 28, 2002. PSA 250 is effective for periods beginning on or after June 30, 2003. As indicated in the 2007 Edition of the IFAC Handbook, ISA 250 is effective for audits of financial information for periods beginning on or after December 15, 2004. There is no indication that conforming amendments to ISA 250 resulting from issuance of ISA 315, ISA 330, and ISA 500 have been incorporated in PSA 250.

    ISA 260 Communications of Audit Matters With Those Charged With Governance (effective 2004)

    The AASC reported in 2007 that ISA 260 was adopted as PSA 260, Consideration of Laws and Regulation in an Audit of Financial Statements on December 22, 2003. PSA 260 is effective for periods beginning on or after December 31, 2003. As indicated in the 2007 Edition of the IFAC Handbook, ISA 260 was amended due to the issuance of ISA 240, ISA 315, ISA 330, and ISA 500. As of February 2007, the Exposure Draft No. 74 with the revisions of PSA 260 was outstanding.

    ISA 300 Planning an Audit of Financial Statements (effective 2004)

    The AASC reported in 2007 that ISA 300 was adopted as PSA 300 (Revised), which is effective for periods beginning on or after June 15, 2004. PSA 300 will be replaced by PSA 300 (Redrafted) effective December 15, 2008. As indicated in the 2007 Edition of the IFAC Handbook, ISA 300 is effective for audits of historical financial information for periods beginning on or after December 15, 2004.

    ISA 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (effective 2004)

    The AASC reported in 2007 that ISA 315 was adopted as PSA 315, which is effective for periods beginning on or after December 15, 2004. PSA 315 will be replaced by PSA 315 (Redrafted) effective December 15, 2008. As indicated in the 2007 Edition of the IFAC Handbook, ISA 315 is effective for audits of historical financial information for periods beginning on or after December 15, 2004.

    ISA 320 Audit Materiality (effective 2004)

    The AASC reported in 2007 that PSA 320 was approved by the Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002. PSA 320 was further amended by PSA 240 (Revised). As of 2007, the Exposure Draft 81 was outstanding that would incorporate the revisions into PSA 320. As indicated in the 2007 Edition of the IFAC Handbook, ISA 320: Audit Materiality is effective for audits of financial statements for periods beginning on or after December 15, 2004.

    ISA 330 The Auditor’s Procedures in Response to Assessed Risks (effective 2006)

    The AASC reported in 2007 that that ISA 330 was adopted as PSA 330 on April 25, 2005 and is effective for periods beginning on or after December 15, 2004. As indicated in the 2007 Edition of the IFAC Handbook, ISA 230, "Audit Documentation" gave rise to conforming amendments to ISA 330. These amendments are effective for audits of financial statements for periods beginning on or after June 15, 2006. There is no indication that these amendments have been incorporated into PSA 330.

    ISA 402 Audit Considerations Relating to Entities Using Service Organizations (effective 2004)

    The AASC reported in 2007 that PSA 402, Audit Considerations Relating to Entities Using Service Organizations was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002 and is effective for periods beginning on or after June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 402. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 402.

    ISA 500 Audit Evidence (effective 2004)

    The AASC reported in 2007 that ISA 500 was adopted as PSA 500 (Revised), Audit Evidence by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on December 17, 2004. PSA 500 is effective for periods beginning on or after December 15, 2004. As indicated in the 2007 Edition of the IFAC Handbook, ISA 500, Audit Evidence is effective for audits of financial information for periods beginning on or after December 15, 2004.

    ISA 501 Audit Evidence - Additional Considerations for Specific Items (effective 2004)

    The AASC reported in 2007 that ISA 501 was adopted as PSA 501 effective December 31, 2003. As indicated in the 2007 Edition of the IFAC Handbook, ISA 501 was subsequently revised (with revisions effective on December 15, 2004) as a result of the issuance of ISA 315, ISA 330, and ISA 500. As of February 2007, there was no indication that these amendments had been incorporated in PSA 250.

    ISA 505 External Confirmations (effective 2004)

    The AASC reported in 2007 that PSA 505, External Confirmations was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on September 8, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 505. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 505.

    ISA 510 Initial Engagements — Opening Balances (effective 2004)

    The AASC reported in 2007 that PSA 510, Initial Engagements--Opening Balances was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002 2003 with effective date of June 30, 2003.. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 510. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 510.

    ISA 520 Analytical Procedures (effective 2004)

    The AASC reported in 2007 that PSA 520 Analytical Procedures was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on February 6, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 520. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 520.

    ISA 530 Audit Sampling and Other Selective Testing Procedures (effective 2004)

    The AASC reported in 2007 that PSA 530 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on June 2, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 530. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 530.

    ISA 540 Audit of Accounting Estimates (effective 2004)

    The AASC reported in 2007 that PSA 540 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on September 4, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 540. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. As of February 2007, PSA 540 was being revised under Philippine Exposure Draft 73.

    ISA 545 Auditing Fair Value Measurements and Disclosures (effective 2004)

    The AASC reported in 2007 that PSA 545 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on February 9, 2004 with effective date of June 30, 2004. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 545. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 545.

    ISA 550 Related Parties (effective 2004)

    The AASC reported in 2007 that PSA 550 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on September 2, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 550. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. As of February 2007, PSA 540 was being revised under Philippine Exposure Draft 77.

    ISA 560 Subsequent Events (effective 2006)

    The AASC reported in 2007 that PSA 560 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002 with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 560. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. ISA 700 also gave rise to conforming amendments to ISA 560. These amendments are effective for auditors' reports dated on or after December 31, 2006. PSA 560 was amended by PSA 700 (Revised) approved in August 2006.

    ISA 570 Going Concern (effective 2004)

    The AASC reported in 2007 that PSA 570 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on October 28, 2002 with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 570. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 570.

    ISA 580 Management Representations (effective 2004)

    The AASC reported in 2007 that PSA 570 was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on ) on October 28, 2002 with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 580. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 580. However, the text of PSA 580 has been amended by the PSA 240 (Revised) issued in 2006.

    ISA 600 Using the Work of Another Auditor (effective)

    The AASC reported in 2007 that PSA 600, Using the Work of Another Auditor was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on September 2, 2003. As of February 2007, PSA 600 was being revised under Philippine Exposure Draft 68.

    ISA 610 Considering the Work of Internal Auditing (effective 2004)

    The AASC reported in 2007 that PSA 610, Considering the Work of Internal Auditing was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on February 6, 2003 with effective date of December 31, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 610. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004.. There is no indication that these amendments have been incorporated into PSA 610.

    ISA 620 Using the Work of an Expert (effective 2005)

    The AASC reported in 2007 that PSA 620, Using the Work of an Expert was approved by the Philippine Board of Accountancy/Professional Regulation Commission on October 28, 2002. with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook, subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 620. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004.. Moreover, ISQC 1, "Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements," and ISA 220, "Quality Control for Audits of Historical Financial Information" gave rise to conforming amendments to ISA 620 effective June 15, 2005. There is no indication that these amendments have been incorporated into PSA 620.

    ISA 700 The Auditor’s Report on Financial Statements (effective 2006)

    The AASC reported in 2007 that PSA 700 (Revised) was published on August 21 2006 with effective date of December 31, 2006. ISA 700 was revised in December 2004 and is effective . for audits of financial information for periods beginning on or after December 31, 2006.

    ISA 701 Modifications to the Independent Auditor's Report (effective 2006)

    The AASC reported in 2007 that PSA 700 (Revised) was published on August 21, 2006 with effective date of December 31, 2006. As of February 2007, it was being revised under Exposure Draft 75. As indicated in the 2007 Edition of the IFAC Handbook, ISA 701, Modifications to the Independent Auditor's Report is effective for audits of financial information for periods beginning on or after December 31, 2006.

    ISA 710 Comparatives (effective 2004)

    The AASC reported in 2007 that PSA 710, Comparatives was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002 with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 710. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 710.

    ISA 720 Other Information in Documents Containing Audited Financial Statements (effective 2004)

    The AASC reported in 2007 that PSA 720, Other Information in Documents Containing Audited Financial Statements was approved by the Philippine Board of Accountancy/Professional Regulation Commission (BoA/PRC) on October 28, 2002 with effective date of June 30, 2003. However, as indicated in the 2007 Edition of the IFAC Handbook subsequently ISA 315, ISA 330, and ISA 500 gave rise to conforming amendments to ISA 720. The conforming amendments are effective for audits of financial statements for periods beginning on or after December 15, 2004. There is no indication that these amendments have been incorporated into PSA 720.

    ISA 800 The Auditor’s Report on Special Purpose Audit Engagements (effective 2006)

    ISA 700 (Revised), The Independent Auditor's Report on a Complete Set of General Purpose Financial Statements issued in December 2004 gave rise to conforming amendments to ISA 800. The AASC reported in 2007 that PSA 700 (Revised) was issued on August 21, 2006 with effective date of December 31, 2006. Conforming amendments to PSA 800 arising out of PSA 700 (Revised), as of February 2007, had not been adopted. However, PSA 800 was being revised under Philippine Exposure Draft 76.

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    Sources of Assessment

    Philippine Auditing and Assurance Standards Council, "Status of Adoption of IAASB's Standards and Practice Statements by Type of Pronouncements," September 25, 2006. Available from Philippine Auditing and Assurance Standards Council website. Accessed on August 10, 2007. (AASC 2006)

    Philippine Auditing and Assurance Standards Council, "Status of Adoption of IAASB's Standards and Practice Statements by Type of Pronouncements," February 15, 2007. Available from Philippine Auditing and Assurance Standards Council website. Accessed on August 10, 2007. (AASC 2007)

    World Bank, "The Philippines: Report on the Observance of Standards and Codes (ROSC) - Accounting and Auditing," December 2001. Available from World Bank website. Accessed on August 10, 2007. (WB 2001)

    World Bank, "Republic of the Philippines: Report on the Observance of Standards and Codes (ROSC) - Accounting and Auditing Update," March 15, 2006. Available from World Bank website. Accessed on August 10, 2007. (World Bank 2006)

    Relevant Organizations

    Auditing and Assurance Standards Council (AASC, formerly Auditing Standards and Practice Council)

    Board of Accountancy (BoA) of the Professional Regulation Commission (PRC)

    Central Bank of the Philippines - Banko Sentral ng Pilipinas (BSP)

    Insurance Commission (IC)

    Philippine Bureau of Internal Revenue (BIR)

    Philippines Institute of Certified Public Accountants (PICPA)

    Philippines Stock Exchange (PSE)

    Professional Regulation Commission (PRC)

    Securities Exchange Commission (SEC)



    Relevant Legislation/Regulation

    International Federation of Accountants 2007 Handbook of International Auditing, Assurance, and Ethics Pronouncements (Includes final ISAs, IAPSs, ISREs, ISAEs and ISRSs, as of December 31, 2006)

    Corporation Code of the Philippines (Batas Pambansa Blg.68), 1980

    Philippine Accountancy Act, Republic Act No. 9298, 2004

    Investment Company Act, Republic Act No.2629, 1960

    General Banking Law, Republic Act. No. 8791, 2000

    Securities Regulation Code, Republic Act No.8799, 2000

    Act Revising the Insurance Laws and Regulating Insurance Business in the Philippine Islands No. 2427

    Presidential Decree No. 612 Ordaining and Instituting an Insurance Code of the Philippines, December 18, 1974

    Financing Company Act, Republic Act No. 8556, 1998

    Amended Implementing Rules of the Securities Regulation Code, 2003

    Code of Ethics for Professional Accountants in the Philippines, 2004

    SEC Memorandum Circular on Philippine Financial Reporting Standards No. 4, 2006

    SEC Memorandum Circular on Amended Guidelines on Accreditation and Reportorial Requirements of External Auditors No. 13, 2006

    SEC Memorandum Circular on Accreditation and Reportorial Requirements of External Auditors of Public Companies and Secondary Licensees of the Commission No. 13, 2003

    SEC Memorandum Circular on Adoption of Philippine Standards of Auditing No. 10, 2003

    SEC Memorandum Circular Code on Corporate Governance No. 2, 2002

    National Internal Revenue Code of the Philippines, Republic Act No. 8424, 1997



    Supplementary Sources

    Asian Development Bank, "Diagnostic Study of Accounting and Auditing Practices in the Philippines - Chapter IV: Accounting and Auditing in the Philippines," 2002. Available from Asian Development Bank website. Accessed on August 10, 2007. (ADB 2002)

    Baconga, P., "Annual President Report for Y2004," 2004. Available from Philippines Institute of Certified Public Accountants website. Accessed on August 10, 2007. (PICPA 2004)

    International Federation of Accountants website. Accessed on August 10, 2007. (IFAC website)
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