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Manila Bulletin devider Business devider SEC Chair bags outstanding professional award

SEC Chair bags outstanding professional award

Published Dec 26, 2023 12:37 am

Securities and Exchange Commission (SEC) Chairperson Emilio B. Aquino wrapped up a milestone year with the Outstanding Professional of the Year Award from the Professional Regulation Commission (PRC).

The award was given in recognition of his contributions in the field of accountancy.

Emilio Aquino.jpeg
SEC Chairperson Emilio B. Aquino

The PRC confers the Outstanding Professional of the Year Award to professionals who have demonstrated exceptional achievements, service, and contributions in their respective fields of specialty.

In addition, Aquino was recognized as one of the Top Five Nominees for the Eric Nubla Excellence Award, a distinct honor given to professionals who surpassed the qualification standards based on the criteria set forth to be an outstanding professional.

“This award is an affirmation of the hard work that we have put in in 2023, letting us at the SEC know that we are headed toward the right direction in achieving the SuperVision that we have crafted for the SEC when I took over in 2018,” Aquino said.

He added that, “I humbly thank the PRC for this award, and also recognize the efforts of the hardworking men and women of the SEC for their commitment to pursuing the Commission’s mandate as business and investor champion.”

Aquino is the first CPA-lawyer to be named chairperson of the SEC, following his appointment in 2018. He is a home-grown talent of the Commission, having made his start through an entry-level lawyer position and rising to the ranks, from director to commissioner until he was appointed to the top post.

Under his leadership, the SEC was able to record the longest streak of unqualified opinions from the Commission on Audit, from 2018 to 2022.

The Commission was also awarded the Association of Government Accountants of the Philippines Outstanding Accounting Office Award, based on a nomination from COA in 2021.

Aquino’s term has also seen the release of the first SEC Oversight Assurance Review (SOAR) Public Inspection Report, which summarizes the observations on audit quality from the Commission’s SOAR Inspection Program.

The initiative emphasized the importance of high quality and credible reporting in financial statements of covered corporations.

In 2022, the SEC received for the second time the International Standards of Accounting and Reporting (ISAR) Honours conferred by the United Nations Conference on Trade and Development (UNCTAD), for its promotion of best practices in sustainability reporting in pursuit of the UN Sustainable Development Goals. The Commission first received the ISAR Honours in 2019.

While pushing for the advancement of the accountancy profession as SEC chairperson, Aquino also advocated for digital transformation in improving the ease of doing business in the country.

He spearheaded the digitalization of key processes of the SEC amid the height of the COVID-19 pandemic, including programs that facilitate company registration, submission of reports, and settlement of payments online.

Aquino was subsequently recognized as International Data Corporation CEO of the Year for the Philippines in 2022, and the first Public Sector Innovator in the Mansmith Innovation Awards.

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Professional Regulation Commission Securities and Exchange Commission Emilio B. Aquino
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