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- Aug 13, 202690% CONFIDENCEfrom the source
PLDT Flags a Material Weakness as Auditor SGV Withdraws Its 2025 US Opinions
- Management concluded that control deficiencies over accounting for certain structured hedge arrangements constituted a material weakness in internal control over financial reporting as of 31 December 2025[1]
- The deficiencies had already led PLDT to revise prior-period accounts in its 27 April 2026 Form 20-F, mainly the recycling of net fair value losses on cash flow hedges into gains or losses on derivatives[1]
- PLDT will also move amounts wrongly placed in "Other expenses - net" to the right line items, and expects no material effect on net income, earnings per share, cash flows, EBITDA or core income[1]
- SGV told PLDT its opinions on the 2025 financial statements and internal controls in the original 20-F can no longer be relied upon and have been withdrawn[1][3]
- At the PSE's request PLDT confirmed that SGV has not withdrawn its opinion on the 2025 statements in the Philippine SEC Form 17-A[4]
- The Audit Committee, with independent counsel and accounting experts, opened an independent review; PLDT will amend the 20-F once it ends[1]
- PLDT shares fell as much as 6.9% to PHP 1,141 on Friday 14 August before recovering to PHP 1,170, still down about 4.5%[2]
References 485% CONFIDENCE
The first entry is always the pin's source. Overall confidence is a weighted average of how firmly each reference supports the start and end times used above; a reference counts half as much for every 180 days older than the newest.
- [1]90%sec.gov/Archives/edgar/data/78150/000119312526347926/phi-ex99_1.htmsec.gov· Posted Sep 24, 2026· Starts Aug 13, 2026 ✓· 27% of score
Stated, per PLDT's press release "MANILA, Philippines 13th August 2026" furnished on Form 6-K, which EDGAR accepted at 2026-08-13 11:58:22 UTC (7:58 p.m. Manila); the PSE posted it at 9:31 a.m. on 14 August.
- [2]80%PLDT accounting issue seen having no material impact on earningsinsiderph.com· Added Sep 24, 2026· 27% of score
InsiderPH on the market reaction (shares down as much as 6.9% on Friday) and analysts' view of the control lapse.
- [3]80%PLDT flags material weakness in financial controlscontext.ph· Published Aug 14, 2026· 23% of score
Context.ph summary of the disclosure: the hedge-accounting weakness, planned revisions, the independent review and the withdrawn SGV opinions.
- [4]88%PLDT 6-K: supplemental letter on the expected Form 20-F amendmentsec.gov· Published Aug 14, 2026· 23% of score
PLDT's PSE-requested confirmation that SGV has not withdrawn its opinion on the 2025 statements filed in SEC[1] Form 17-A.
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