Revised Corporation Code
Section 163. Independent Auditor Collusion; Penalties. - An independent auditor who, in collusion with the corporation's directors or representatives, certifies the corporation's financial statements despite its incompleteness or inaccuracy, its failure to give a fair and accurate presentation of the corporation's condition, or despite containing false or misleading statements, shall be punished with a fine ranging from Eighty thousand pesos (₱80,000.00) to Five hundred thousand pesos (₱500,000.00). When the statement or report certified is fraudulent, or has the effect of causing injury to the general public, the auditor or responsible officer may be punished with a fine ranging from One hundred thousand pesos (₱100,000.00) to Six hundred thousand pesos (₱600,000.00).