Mr. Augusto A. Camara, M.D
SEC Opinion • Securities and Exchange Commission • Opinions • Aug 2, 1996
Full text
August 2, 1996 Mr. Augusto A. Camara, M.D Heart Foundation of the Philippines East Avenue, Quezon City S i r : This refers to your letter dated July 25, 1996 inquiring whether a member of the Board of Trustees or an ordinary member of a non-stock, non-profit corporation can also act as an " external auditor " of the corporation. The nature of the function and services of an "external auditor" demands that he should be an independent person who is not in any way connected with the corporation. Hence, your query is answered in the negative. Very truly yours, (SGD.) FE ELOISA C. GLORIA Associate Commissioner
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