ACCOUNTANCY ORGANIZATIONS

ACCOUNTING LEADERS GATHER IN FORUM

The Board organized for  the  Accountancy Stakeholders Forum on December 7, 2015 .in the PICPA Shaw for the second time this year.  This came after the first Forum last May 18, 2015, where a select group consisting of the leaders of the accountancy profession were invited attend to discuss  with the entire BoA  the most important issues in the profession.

The second Forum had over 30 accountancy leaders gathering and being updated on the most pressing concerns by Chairman Joel Tan-Torres, Hon. Gerard Sanvictores, Hon. Samuel Padilla and Dr. Arnel Uy of CHED . The items discussed  were:

  1. Six Point Expanding Horizons Strategic Plan
  2. Results of Sectoral Surveys
  3. Developments in the Quality Assurance Review
  4. Proposed resolution on Office Verification of Public Practitioners
  5. Proposed resolution of Certificate of FS preparation
  6. Project Acct Audio Video presentation
  7. Proposed resolution on Accreditation of Partners and Staff
  8. Campaign for the increase in the number of CPAs teachers being accredited
  9. Propose resolution on the Accreditation of CPAs in commerce and industry
  10. Accounting Curriculum Updates
  11. Release of the Resolutions providing the Table of Specifications and Syllabi of the new CPA Examination subjects
  12. Issues of government accountants
  13. Use of developmental tools
  14. Continuing Professional Development
  15. Proposed Amendments to the Accountancy Law

After the Forum, the participants had their Christmas dinner with entertainment and raffle of prizes.

EH Accountancy

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2nd ACCOUNTANCY STAKEHOLDERS FORUM SLATED

The Board of Accountancy convened  the accounting leaders for the 2nd Accountancy Stakeholders Forum last December 7, 2015 at PICPA Shaw. The first Forum was held last May 18, 2015, where a select group consisting of the leaders of the accountancy profession were invited to discuss with the entire BoA the most important issues and the directions of the profession.

In this second Forum, the following were discussed:

  1. Six Point Expanding Horizons Strategic Plan
    2. Project Acct
    3. Results of Sectoral Surveys
    4. Proposed Amendments to the Accountancy Law
    5. Developments in the Quality Assurance Review
    6. Proposed resolution on Accreditation of Partners and Staff
    7. Proposed resolution on Office Verification of Public Practitioners
    8. Release of the Resolutions providing the Table of Specifications and Syllabi of the new CPA Examination subjects
    9. Campaign for the increase in the number of CPAs teachers being accredited
    10. Proposed resolution of Certificate of FS preparation
    11. Proposed resolution on the Accreditation of CPAs in commerce and industry
    12. Issues of government accountants
    13. Use of developmental tools

“We got  feedback from the major developments in the profession from the accounting leaders who attended this Forum, including the PICPA and sectoral organization presidents, heads of the big accounting firms, the senior officers of the affiliated accounting certification organizations, officials from the PRC, the chairmen of the accounting councils, and others,” said Chairman Joel Tan-Torres.

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FRAUD EXAMINERS MEET

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The Association of Certified Fraud Examiners met in the Intercontinental Hotel Manila from September 16 to 18, 2015 for the Fraud Coinference Manila.

A speaker from the Affiliated Monitors Inc. of the U.S, Mr. Eric Feldman, talked on the topic ethical culture and Mr. C.K. Cho, a former Chief Investigator of the Independent Commission Against Corruption (Hong Kong) talked oon “Fighting Corruption: Changing the Systems and Processes” to more than 100 attendees of the Fraud Conference. Attending also were Chairman Joel Tan-Torres and BoA member Hon. Concordio Quisaot, ACFE President Dante Fuentes, and ACFE Executive Director Raymond San Pedro.

“We picked up very valuable lessons from the talks of our speakers. Instilling an ethical cuilture to prevent fraud in organizations is doable, ” said Chairman Tan-Torres.

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2nd ACCOUNTANCY STAKEHOLDERS FORUM SLATED

The Board of Accountancy will once again be convening the accounting leaders in an Accountancy Stakeholders Forum scheduled on December 7, 2015 at PICPA Shaw. The first Forum was held last May 18, 2015, where a select group consisting of the leaders of the accountancy profession were invited to discuss with the entire BoA the most important issues and the directions of the profession.

In this second Forum, the following will be discussed:

  1. Six Point Expanding Horizons Strategic Plan
    2. Project Acct
    3. Results of Sectoral Surveys
    4. Proposed Amendments to the Accountancy Law
    5. Developments in the Quality Assurance Review
    6. Proposed resolution on Accreditation of Partners and Staff
    7. Proposed resolution on Office Verification of Public Practitioners
    8. Release of the Resolutions providing the Table of Specifications and Syllabi of the new CPA Examination subjects
    9. Campaign for the increase in the number of CPAs teachers being accredited
    10. Proposed resolution of Certificate of FS preparation
    11. Proposed resolution on the Accreditation of CPAs in commerce and industry
    12. Issues of government accountants
    13. Use of developmental tools

“We expect to get feedback from the major developments in the profession from the accounting leaders who will attend this Forum. Coming are the PICPA and sectoral organization presidents, heads of the big accounting firms, the senior officers of the affiliated accounting certification organizations, officials from the PRC, the chairmen of the accounting councils, and others,” said Chairman Joel Tan-Torres.

Accountants who have inputs on the agenda items can submit these to boa.secretariat@gmail.com

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MORE INSIGHTS ON 2ND DAY OF CAPA CONFERENCE

The second day of the CAPA Conference held in COEX Seoul Convention Center on October 29, 2015 focused on additonal important concerns of the accountancy profession.

BoA Chairman Joel Tan-Torres listened to the presentation of such speakers as Arnold Schilder, Chairman of the IAASB; Chungwooh, member of the IASB; Nik Mohd Yusoff, Executive Director of the audit Oversight Board and Securities Commission of Malaysia; Gary Pflugratn, Director of Pyblic Policy and Regulation of IFAC; Gabriel Hayos, Vice President-Taxation of CPA Candada; Edward Karl, Vice President-Taxation of AICPA; Ucguri Suto, Chairperson Taxation and Legislation of JICPA; and others.

“The discussion dwelled on effective enforcement and administration of IFRS, integrated reporting, new audit report prescribed in ISA 701, the need for feedback on the consultation of draft papers of IFAC, the developments in tax, including BEPS and its various action plans and tax ethical standards,” said Chairman Joel Tan-Torres.

CAPA CONVENTION DISCUSSES CURRENT ACCOUNTANCY ISSUES

The 19th Conference of the Confederation of Asian and Pacific Accountants (CAPA) opened in the COEX Convention Center in Seoul, Korea on October 27, 2015 with more than 1200 delegates attending.

BoA Chairman attended the conference and listened to various speakers dwell on the most current accountancy issues and developments. The speakers included Olivia Kirtley, President of IFAC; Sujeewa Mudalige, the outgoing president of CAPA; Faye Chua, the Head of Business Insights of ACCA; Peter Docherty, the General Manager of Public Practice of CPA Australia; Gary Ptlugrath, the director of Public Policy and Regulation of IFAC, Heechooon Park, Chief Accountant and Deputy Governor of the Korean Financial Supervisory Services and others.

“I learned several matters affecting the profession that will be practical and relevant in the Philippines. The growing focus on governance and technology concerns, the regulatory thrust on key audit matters and liabilities of the auditors, the workings of the various regional regulatory and professional bodies are important take aways of the conference,” said Chairman Tan-Torres.

MEETING WITH IFAC PRESIDENT IN CAPA MEETING

iFAC President Olivia Kirtley discussed the IFAC’s 2016-2018 Strategic Plan during the CAPA meeting held in COEX Seoul on October 27, 2015. She also discussed the trends and implications in the accountancy profession, IFAC’s role in standard setting and regional cooperation.

BoA Chairman Joel Tan-Torres, AFA President Estelita Aguirre, PICPA Director Sonia Golez, and PICPA Past President Josefina Chua discussed Philippine accountancy matters and the role of Filipina accountants with President Kirtley.

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SECOND DAY OF KL SECOND DAY OF CONVENTION OF NACPAE

The second day on October 20, 2015 of the 2nd Mid-year Accounting Teachers Conference of the NACPAE in Kuala Lumpur was another full and informative session. Conference Chair Antonio Dayag prepared a second day of university visit and talk in UNITAR International University, sharing and research presentations by various stakeholders of the academic community in Malaysia and the Philippines, and technical sessions with various Malaysian speakers.

“Opportunities that were identified in these sessions are the possible collaboration with the various Malaysian and regional professional associations including the Asia Pacific Management Accounting Association, the UNITAR international University which is offering online doctoral accountancy programs, and other organizations such as ICAEW, CPA Australia, MKM Global Holdings Sdn Bhd, Universiti Sains Malaysia and the Malaysian Institute of Accountants,” said Chairman Joel Tan-Torres.

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FULL DAY FOR NACPAE KL CONVENTION DELEGATES

It was an activity filled first day of the 2nd Mid-Year Teachers Conference held in Sunway Putra Hotel in Kuala Lumpur, Malaysia for the more than 100 delegates from NACPAE. The conference organized by NACPAE headed by its president Omar Ampongan and Vice President Antonio Dayag will be from October 19 to 21, 2015.

BoA Chairman Joel Tan-Torres, Vice Chair Gloria Baysa and Hon. Eliseo Aurellado attended the conference and presented the BoA plans and activities and important accountancy education issues in the evening program of October 19. The activities held earlier on October 19 included the courtesy call to Philippine Ambassador Eduardo Malaya, Benchmarking and research presentation in the University of Kuala Lumpur and University of Malaya and other activities in Sunway Putra Hotel.

“The delegates to the conference learned a lot from the speakers from Malaysia and the Philippines. The university officials of Malaysia and the officers of NACPAE started discussion on possible collaborations, including an student or faculty exchange program. Ambassador Malaya also challenged the Filipino accountants to take advantage of the opportunities that have and will arise with the ASEAN Integration. He mentioned that there will be a need for more than 30,000 accountants n Malaysia in the next few years which the Filipino CPA can take advantage of,” said Chairman Joel Tan-Torres.

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BoA and the KL Artwork

The BoA Group with Lauren Pang of Candy Pencil Project in Kuala Lumpur on October 18, 2015. The Candy Pencl Project is involved in educating children with use of drawing tools and supporting the education of visually impaired children through Braille materials. Chairman Joel Tan-Torres, Vice Chair Gloria Baysa, and Hon. Eliseo Aurellado hold some of the katsa bag “art works” done by the children being supported by the Candy Pencil Project. Lauren Peng will be in the Annual National Convention in Puerto Princesa in November 2015 and will be selling these “art works” for a good cause. Let us support her and her Manila project.

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MINDANAO CPAs GATHER TO DISCUSS ASEAN INTEGRATION

The 34th Association of CPAs in Mindanao (ACPAMIN) and the 24th PICPA Joint Mindanao Regional Conference was held in Balanghai Hotel and Convention Center in Butuan City from October 8 to 10, 2015. Over 250 delegates attended the convention which focused on the theme “The Mindanao CPAs Preparing for ASEAN Integration.”

BoA Chairman Joel Tan-Torres talked on the topic “The Impact of ASEAN Integration in the Accountancy Profession.” He discussed the ASEAN Mutual Recognition Arrangement (MRA) and briefed the delegates on the objectives, features, roadmap and impact on the accountancy profession of the MRA.

“It is imperative that all Filipino CPAs are aware and knowledgeable of the MRA since this will result in opportunities as well as threats on the CPAs of all sectors. All of us should cooperate and coordinate to ensure that our profession will benefit from these developments,” said Chairman Tan-Torres.

The convention was a great success due to the efforts of ADPAMIN Chairman Froilan Ampil, PICPA Senior Director Raymundo Talimio, PICPA Butuan Chapter President Roberto Cordova, Conference Chair Rowena Tabada, Arnel Villanueva and PICPA Past President Jojo Ty.

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REVALIDA OF APO COMPLETED

The review of the performance of the PICPA in its application for renewal of its accreditation as the Accredited Professional Organization (APO) was compledted with the Board of Accountancy conducting a four hour discussion with the officers and directors of the PICPA on September 12, 2015 in PICPA Shaw.

PICPA had earlier filed its application for renewal of the accreditation with PRC and BoA when this lapsed last October 2014.

“Henceforth, the BoA is implementing a policy that the APO will undergo an annual evaluation by the Board of its performance and accomplishment in pursuing its mandate as a pre-condition for the APO to retain its accreditation. Through this process, the BoA would ensure that the APO is implementing good governance and management practices in faithfully discharging its mandate as the recognized APO of the profession,” said Chairman Joel Tan-Torres.

For the evaluation, PICPA submitted documents required by BoA as indicated in its letter dated July 23, 2015, including a financial report, report on compliance with BoA initiatives, listing of governance activities put into p

At the end of the revalida, the BoA required the submission of papers on the Accountancy Law provision on the PICPA membership of CPAs, the need for a PICPA Academy, the process on the approval of position on national issues, the justification for the National Board composition, and others.

The BoA will then decide if the renewal of accreditation of PICPA will be approved.

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IIA GLOBAL EXECUTIVE TALKS IN FORUM OF CHIEF AUDIT EXECUTIVES

Mr. Hal Garyn from the Institute of Internal Auditors (IIAGlobal) talked during the Chief Audit Executives Breakfast Forum at the Tower Club, Philamlife Tower last September 9, 2015.

BoA Chairman Joel Tan-Torres and SEC Chair Teresita Herbosa attended the forum organized by the IIA Philippines. Beca Sarmenta, the president of IIA Philippines and 40 members of the organization, listened to Mr. Garyn discuss the imperatives for the internal auditor.

“I particularly noted the growing conern and focus that internal auditors and CPAs should provide for the Cyber security developments. We also had the opportunity to present the accounting academic track of Bachelor of Science in Internal Auditing that will be prescribed by CHED and BoA in the near future,” said Chairman Tan-Torres.

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