Follow the format below. Construct in Paragraph.

Industry Given: Regulatory Audit of Banks

Country: Philippines

I. Specialized Industry Nature and Background of Specialized Industry (Describe the industry, what is industry all about, for example for banks, there are classifications of banks and non-banks, any information pertaining to the industry in general) Overview and, Statistics of the Specialized Industry in the Philippines (describe the industry's standing in the Philippines, any relevant statistics, and regulations/laws in the Philippines related to the industry like Phil. Mining Act for mining industry) Key Updates (latest news or regulation update for the specific industry that has significant impact on it, like recent BSP/SEC issuances/memo or any new policy/law enacted for that industry, or proposed or newly accounting standard for that industry) Key Players (sample companies of that particular industry and its relevant statistics) II. Accounting standards applicable to the industry Specific accounting processes for the industry (accounting standards, accounting practices directly related to a particular industry) III. Audit Considerations Risks Considerations (key audit areas for the industry) Audit Procedures (directly related to a particular industry or relate the general audit procedures to the industry) Key Audit Matters (can be seen to sample audited FS of publicly listed companies of the industries from 2018/2019 up) IV. Reflection and Learning Points V. References (links)