RICA CAMILLE S.

GABRIEL

CERTIFIED PUBLIC ACCOUTANT

62 CAINGIN, SAN RAFAEL, BULACAN

Cellphone #: 09951700878

The Board of Directors

EastWest Bank
Makati City

Report of the Financial Statements:

I have audited the accompanying financial statements of EastWest Bank which comprise the
statement of financial position as at December 31, 2014 and the statement of financial
performance, statement of cash flow, and statement of changes in equity in the fiscal year ended
June 30, 2017.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements
in accordance with Philippine Financial Reporting Standard ; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair
presentation of consolidated financial statements that are free from material misstatement,
whether due to fraud or error.

Auditor's Responsibility

My responsibility is to express an opinion on these financial statements based on our audits. I

conducted my audits in accordance with Philippine Standards on Auditing. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity's preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity's internal control.
Accordingly, I express no such opinion. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statement.

I believe that the audit evidence we have obtained is sufficient and appropriate to provide a
reasonable basis for our audit opinion.

Basis of Disclaimer of Opinion

Management was unable to provide appropriate supporting documentation for the majority of the
transactions selected for audit. We were unable to satisfy ourselves by alternative means
concerning the expenditures reported by EastWest Bank in the Statement. As a result of these
matters, we were unable to determine whether any adjustments might have been found necessary
in respect of the expenditures making up the Statement.
Opinion
Because of the significance of the matters described in the Basis for Disclaimer of Opinion
paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a
basis for an audit opinion. Accordingly, we do not express an opinion on the Statement.

RICA CAMILLE S. GABRIEL

Bd. Cert No. 190010

PRT NO. 7101998

January 28, 2017, San Rafael, Bulacan

TIN No. 090320161

BIR Accreditation No. 08-001998-61-2016

February 27, 2016, valid until February 26, 2019

SEC Accreditation No. 0466-AR-3 (Grp. A)

February 09, 2017, valid until February 08, 2020