PICPA: Playing it forward to secure a sustainable future

The accountancy profession continues to face unprecedented challenges. According to the International Federation of Accountants, the profession is projected to face three major realities: the increasing use of sophisticated and smart technologies to enhance traditional ways of working; the continued globalization that could potentially create more opportunities and challenges for members of the accountancy profession; and the increased regulation which are likely to have the greatest impact for the years to come. These realities are happening here and now, and CPAs are summoned to strengthen its role in securing a sustainable future. In the past years, we have seen how PICPA and the Filipino CPAs rose in solidarity amid challenging times, and we have realized the importance of transforming by embracing possibilities and realizing potentials which are key to thriving in the VUCA world. Now, more than ever, the Philippine Institute for Certified Public Accountants shall play it forward. Playing it forward to secure a sustainable future Through solidarity, synergy, and sustainability, this year, PICPA is set to continue moving forward with mechanisms anchored on five strategic pillars that are essential in realizing the institute’s vision and living up to its mission to serve the best interest of the members and the stakeholders while promoting, upholding, and maintaining high standards in the accountancy profession and protecting public interest. These five pillars set the direction and provide the foundation for all programs and projects of PICPA for fiscal year 2022-2023: Upskilled PICPAns, Member Value, Upscaled Network, Capacity Development, and Community and Social Responsibilities. To upskill our members, we shall determine opportunities for members to garner more CPD units, upgrade their skills and competencies, and promote lifelong learning. Moreover, upskilling PICPAns becomes a springboard to create better member value so that each member will have the confidence and pride that they are members of PICPA. We shall strive to streamline our membership services and uplift the status and value of our profession both locally and globally. Then, we shall continue building ties and strengthening links with other relevant local and global organizations so we can fortify our partnerships and alliances with them thereby upscaling our network. Further, as we ride the tides of digitalization, we will develop more professional and operational capacity by pursuing digital literacy and digital systems acceleration programs and enhance our operations so we can increase productivity of our members in the new workplace setup. Finally, we shall seek to balance improving the quality of life of accounting professionals in the Philippines while also promoting sustainable projects that are responsive to the demands and needs of the communities that we serve. These pillars are built on our vehement will to become a responsive and globally relevant professional organization committed to service excellence towards its members and stakeholders. Onward amid Uncertainties Despite the uncertainties and volatilities of our rapidly changing world, we have seen that the best way to move forward is by sensemaking as we interact with our environment and with others; recalibrating expectations such that we become more open to being creative and innovative about our work; reestablishing commitment by emphasizing our “why’s” to complement our “how’s”; and rebuilding capacity by systematically identifying means of energizing our constituents both on personal and professional scales. With the pillars as our guideposts complemented by the core values of professional excellence, integrity, commitment, partnership and teamwork, advocacy for quality, new technologies and innovativeness, and social responsibility, and taking into account possible risks, our every purposeful action will allow us to perform our part in uplifting not only our members, but also the stakeholders and the community. Accountants are key players in driving the economic development of the country. As Ian Welch puts (Association of Chartered Certified Accountants), “high quality corporate reporting is key to improving transparency, facilitating the mobilization of domestic and international investment, creating a sound investment environment and fostering investor confidence, thus promoting financial stability.”In the wake ofan ongoing crisis, it is our utmost commitment to implement the necessary measures to improve the quality of our nation’s financial and economic architecture through continued efforts in advancing accounting in public practice, commerce and industry, education, and government. The projected challenges and major realities pave the way for a roadmap to create an economic infrastructure that will be built through a coherent approach which PICPA endeavors to contribute for sustained economic development. So, by establishing clear and specific goals anchored on the five strategic pillars, having a clear sense of actionable plans for effective results, and fostering the core values to achieve PICPA’s vision and mission, we can secure a sustainable future not only for Filipino CPAs but likewise the communities that we serve and the nation as whole.

* Dr. Erwin Vincent G. Alcala is the incumbent National President of the Philippine Institute of Certified Public Accountants.  The views and opinions expressed in this article are those of the Writer and do not necessarily reflect the view and opinions of PICPA.