COLLEGE OF BUSINESS

ADMINISTRATION
Accountancy, Commercial Law. & Taxation Department
900 San Marcelino St., Ermita, Manila, 1000 Philippines
Telephone Number 524-2011 local 202

INTERNSHIP DOCUMENTATION

Prepared by:
Dorothy Enid M. Agua

Submitted to:
Marissa S. Babilonia, CPA, MBA
Internship Adviser

January 2020
 TABLE OF CONTENTS

I. TITLE PAGE
II. TABLE OF CONTENTS
III. COMPANY BACKGROUND
IV. SWOT ANALYSIS
V. SUGGESTION FOR IMPROVEMENT
VI. LETTER OF RECOMMENDATION
VII. ACCEPTANCE FORM
VIII. LOCATION/ VICINITY MAP
IX. MEMORANDUM OF AGREEMENT
X. CONTACT DETAILS/ CALLING CARDS
XI. DOCUMENTATION/ PHOTOS WITH COMPANY EMPLOYEES
XII. EVALUATION FORMS
XIII. CERTIFICATE OF COMPLETION
XIV. DAILY TIME RECORDS
XV. PROGRESS REPORTS
a. Progress Report 1
b. Progress Report 2
c. Progress Report 3
d. Progress Report 4
e. Progress Report 5
f. Progress Report 6
g. Progress Report 7
h. Progress Report 8
i. Progress Report 9
j. Progress Report 10
k. Progress Report 11
l. Progress Report 12
XVI. UPDATED RESUME
 Company

PriceWaterhouseCoopers
Business Services Philippines Co., Ltd.
Main Office: 4/F JMT Corp. Condo., ADB Ave., Ortigas Center, Brgy. San Antonio, Pasig City

Manila Office: GF KB Arizona Tower, P. Campa St. Sampaloc, Manila

 COMPANY BACKGROUND

ADDRESS
Head Office: 4/F JMT Corp. Condo., ADB Ave., Ortigas Center, Brgy. San Antonio, Pasig City,
Philippines, PwC Philippines

Manila Office: GF KB Arizona Tower, P. Campa St. Sampaloc, Manila

WEBSITE
https://www.pwc.com/ph/en/pwc-bsp.html

CONTACT NUMBER
Telephone: +63 (2) 8534 7515

FIRM PROFILE

PricewaterhouseCoopers Business Services Philippines Co., Ltd. ("PwC BSP") is a Philippine

member firm of the PwC global network.
Isla Lipana & Co. ("Isla Lipana") is also a Philippine member firm of the PwC global network.
Isla Lipana provides technical support to PwC BSP. For 95 years, Isla Lipana adheres to the
highest quality standards in delivering audit & assurance, tax, and advisory services within and
outside the Philippines.  
We at PwC BSP currently provide support services to PwC entities in the Philippines in projects
covering audit, tax, people & organization, and finance & process improvement. We also
manage their overall billings and collections process.
We likewise deliver registration and support services to third-party multinational clients.

HISTORY.
At PwC, our purpose is to build trust in society and solve important problems. We’re a network
of firms in 157 countries with more than 276,000 people who are committed to delivering quality
in assurance, advisory and tax services.
In 1922, Charles P. White and Percival S. Page open an accountancy practice in the Philippines
called White, Page & Co. In 1948 after the war, a new partnership is formed under Stewart,
Dacanay, Cunanan & Co. In 1951,the company name changes to Stewart, Cunanan & Co.
In 1956, Joaquin Cunanan becomes the first Filipino senior partner of the company. In 1958, the
company is designated as Price Waterhouse correspondent in the Philippines. In 1962, the
company inaugurates its Management Advisory, then Tax Services. In 1964, The company name
changes to Joaquin Cunanan & Co. In 1970, Jose Florento becomes senior partner. In 1973, the
company becomes a member of Price Waterhouse International. In 1975, The company opens its
Cebu branch office. In 1981, Corazon de la Paz-Bernardo becomes chairman and senior partner;
also becomes Price Waterhouse's first lady senior partner worldwide. In 1985, Joaquin Cunanan
is elevated to the Accountancy Hall of Fame. In 1998, Price Waterhouse merges globally with
Coopers & Lybrand to create PricewaterhouseCoopers (PwC).In 2001, Jerry Isla becomes
chairman and senior partner. In 2005, The company name changes to Isla Lipana & Co. In 2006,
Tammy Lipana becomes chairman and senior partner. In 2009, Judith V. Lopez is elected
chairman and senior partner. In 2012, PricewaterhouseCoopers rebrands to PwC. In 2013, the
new Chairman and Senior Partner Atty. Alexander B. Cabrera.

PURPOSE

Our purpose is to build trust in society and solve important problems.

In an increasingly complex world, we help intricate systems function, adapt and evolve so they
can benefit communities and society – whether they are capital markets, tax systems or the
economic systems within which business and society exist. We help our clients to make
informed decisions and operate effectively within them.
Find out about how we contribute to the global debate on prominent business issues.
See our Global Annual Review and Corporate responsibility section for examples of how we live
our purpose.

VISION 2025

In an effort to deliver PwC Purpose and remain relevant to the society, the Firm has defined
clearly its future state. While “digital society” is gaining speed, we will serve various needs for
“Trust” as a leading firm to build trust in the digital society through a quality-driven approach for
it is the most critical foundation for our business.
 VALUES AND BEHAVIOUR

To fulfill its purpose, PwC has determined the five Values and Behaviours set out below. Our
employees share these Values and Behaviours and put them into practice.

SERVICES
Assurance
Building Trust: Working in ways that give you a greater reliability.

Some of our main Assurance services:

 Statutory and regulatory audit.

 Review of controls and compliance to create parameters in financial performance and

operations of a business, risk exposure, and use of resources.

 Independent validation or assessment of financial and non-financial data.

 Public services audit and related services for government, education, and non-profit
organizations.
Risk Assurance

The business environment is rife with risk. The challenge lies in staying ahead of those risks and
preparing accordingly. Insight and independent assurance provide an invaluable safeguard in
today’s complex operating environment. We can help you protect and strengthen every aspect of
your business, from people to performance, systems to strategy, and business planning to
business resilience.

Consulting
Make the best decisions to move your business forward with confidence.

Achieving your objectives to gain advantage requires experience and foresight. Make the best
decisions to move your business forward with confidence. Our regional presence brings access to
the best of local knowledge and an established network of sector expertise across South East
Asia.

Tax Services

Tax is a significant cost in business. As such, properly managing and controlling inherent tax
risks is a must. And to keep up with tax developments and have a clearer understanding, top
businessmen seek professional tax advice to help them manage tax risk, control costs, and seize
tax planning opportunities.

To develop a comprehensive tax strategy for your business, we cover various considerations
relevant to your particular business, i.e., industry, markets, finance, economics, and government
regulations. We take a consultative approach rather than focus on compliance to identify all your
risks.

Deals and Corporate Finance

Originating deals, creating deals, executing deals and realizing results from a deal, is what we do
everyday.
If you are looking for faster growth, stronger capabilities, a competitive edge or are in need of a
dramatic transformation, come and talk to us. We bring to the table a truly connected global
network of industry experienced deal advisors coupled with data driven insights that help to
support more confident decisions

No matter what business stage you are at, our focus on value is what will help you succeed
throughout the deal lifecycle.
Client Accounting Services
Your trusted service provider for tax compliance, accounting and payroll requirements.
We offer you our knowledge and experience in local statutory regulations and the highest ethical
and moral standards of our services.
We can help prepare and file the tax returns, among others, based on your accounting records.
We also offer payroll services, compliance services and accounting services such as
bookkeeping, recording monthly transactions in the registered books of accounts, preparation of
financial statements, cash management, invoice and payment processing, preparation of monthly
bank reconciliation, statutory audit assistance, liaising with your external auditors and answering
audit queries, updating trial balances, statutory financial statements and submission of audited
statutory financial statements to the BIR, SEC and PEZA.
 SWOT ANALYSIS
STRENGTHS WEAKNESSES
 The company has an already established  High attrition rate in work force – compare
name in the accounting field as one of the to other organizations in the industry PwC
country’s top firms has a higher attrition rate and have to spend
 Part of PwC Global Network ,Top 2 a lot more compare to its competitors on
Auditing Firm in the World. training and development of its employees.
 It has more than one branch and other  Lacks timely feedback regarding the
networks in the country. interns' performance
 It promotes camaraderie, warm and  Lack of auditing procedures.
friendly environment
 Provides training and e-learns to new hires
OPPORTUNITY THREAT
 Various laws that promote establishment of  The declining number of passers in the
new businesses are now being CPA Licensure Examination
implemented, providing for future new
clients
 Lower inflation rate – The low inflation
rate bring more stability in the market,
enable credit at lower interest rate to the
customers of PwC.

SUGGESTION FOR IMPROVEMENT

 We were given relevant audit procedures to perform but we have not been provided with
a lot of work to do to be able to master our knowledge about those procedures.
 Timely review of our work is regularly conducted but the feedback takes long to be
cascaded to us that is why sometimes, we do not know whether the procedures we have
done in a client’s financial statements are right or wrong.
 They should be stricter and they should learn how to impose their authority at a certain
degree with allowance for considerations to their trainees.
LOCATION AND VICINITY MAP
CONTACT DETAILS/ CALLING CARDS
PICTURES WITH CO-INTERNS,SENIORS AND MANAGERS
 DAILY TIME RECORDS
AUGUST

August 23, 2019 8:00-12:00 Completed

August 27, 2019 8:30-17:30 Completed
August 29, 2019 8:30-17-30 Completed

SEPTEMBER

September 3, 2019 8:30-17:30 Completed

September 5, 2019 8:30-17-30 Completed
September 10, 2019 8:30-17:30 Completed
September 12, 2019 8:30-17-30 Completed
September 16, 2019 8:00-12:00 Completed

OCTOBER

October 1, 2019 8:30-17-30 Completed

October 7, 2019 8:00-12:00 Completed
October 8. 2019 8:30-17-30 Completed
October 10, 2019 8:30-17-30 Completed
October 24, 2019 8:30-17-30 Completed
October 28, 2019 8:00-12:00 Completed

NOVEMBER
November 4, 2019 8:00-12:00 Completed November 18, 2019 8:00-12:00 Completed
November 5, 2019 8:30-17-30 Completed November 19, 2019 8:30-17-30 Completed
November 6, 2019 8:00-12:00 Completed November 21, 2019 8:30-17-30 Completed
November 7, 2019 8:30-17-30 Completed November 22, 2019 8:00-12:00 Completed
November 8, 2019 8:00-12:00 Completed November 25, 2019 8:00-12:00 Completed
November 11, 2019 8:00-12:00 Completed November 27, 2019 8:00-12:00 Completed
November 12, 2019 8:30-17-30 Completed November 28, 2019 8:00-12:00 Completed
November 14, 2019 8:00-12:00 Completed November 29, 2019 8:00-12:00 Completed
November 15, 2019 8:30-17-30 Completed

DECEMBER
December 2, 2019 8:00-12:00 Completed
December 3, 2019 8:30-17:30 Completed
December 6, 2019 8:30-17-30 Completed