What is the penalty for any person who willfully certifies an inaccurate, false, or misleading report required under the Code?
Any person who willfully certifies a report required under this Code, knowing that the same contains incomplete, inaccurate, false, or misleading information or statements, shall be punished (SEC. 162, Revised Corporation Code of the Philippines). The fine imposed for this willful certification ranges from Twenty thousand pesos (P20,000.00) to Two hundred thousand pesos (P200,000.00). If the wrongful certification is determined to be injurious or detrimental to the public, the auditor or the responsible person may also face an increased fine ranging from Forty thousand pesos (P40,000.00) to Four hundred thousand pesos (P400,000.00). This penalty targets individuals responsible for verifying corporate compliance and financial disclosure.
02 November 2025
About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
