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REVENUE MEMORANDUM CIRCULAR NO. 14-2014 issued on February 26, 2014 publishes the full text of Executive Order (EO) No. 155 issued by the President of the Philippines, entitled “Amending Executive Order No. 160 (S.2003), and for Other Purposes”.

            The Department of Finance-Fiscal Intelligence Unit is mandated to perform the following functions of the Post Entry Audit Group (PEAG) created under EO No. 160, and other tasks inherent or incidental thereto:

 

  1. Trade Information and Risk Analysis Office

    1. Set the framework and benchmarks for compliance measurements of industry groups;
    2. In coordination with Management Information System and Technology Group, direct the development of a computer-aided risk management system using the data warehousing technology and other statistical tools;
    3. Implement the computer-aided risk management system to develop and establish audit selection parameters based on objective and quantifiable data;
    4. Establish and recommend audit targets to the Commissioner of Customs;
    5. Set policies, guidelines, manuals and standard operating procedures relating to the audit and continuously assess how audit performance can be improved by better and more fine-tuned policies and guidelines;
    6. Perform other related functions.
  2. Compliance Assessment Office

    1. Formulate an audit work plan for approved audit targets;
    2. Conduct audit examination, inspection, verification or investigation in accordance with the set policies, guidelines, manuals, and standard operating procedures;
    3. Prepare and submit audit reports;
    4. Develop and implement a customs compliance program;
    5. Perform other related functions.

 

      The winding-up of operations of PEAG, including the final disposition or transfer of their functions, assets and liabilities, shall be in accordance with the  applicable provisions of the Rules and Regulations Implementing EO No. 72 (S. 2002), or “Rationalizing the Agencies Under or Attached to the Office of the President.” Affected officers and employees of PEAG shall be absorbed by the BOC, without prejudice to the rights and benefits granted to them under existing laws, rules and regulations.