The Asian Organization of Supreme Audit Institutions (ASOSAI) is one of the key regional groups under the umbrella of the International Organization of Supreme Audit Institutions (INTOSAI). Established in 1979, ASOSAI began with 11 member states and has since expanded to include 47 Supreme Audit...
What Congress has delegated can no longer be further delegated or redelegated by the original delegate to another. “Delegata potestas non potest delegari.” On Feb. 1, 2023, the Supreme Court released its rulings in G.R. No. 246027, June 21, 2022 (SEC vs. 1Accountant Party-list Inc. et.al.)...
Back then, at Ateneo, I designed and facilitated a course titled Corporate Leadership that became a hit, attracting 250 workplace-based and experience-driven MBA students every trimester. It was an interactive forum whose major allure was the top-notch CEOs invited each week to share their...
I have been a certified public accountant for almost 30 years and have encountered various organizational pressures and politics as both an external and internal auditor. In "Ethics and Pressure, Balancing the Internal Audit Profession" (2015), the Institute of Internal Auditors defined...
The significant increase in the Licensure Examination for Certified Public Accountants (CPAs) pass rate, from just over 20 percent in 2022 to more than 30 percent in 2023-2024, is a welcome and encouraging development for the accountancy profession in the Philippines. This marked improvement...
As we embark on a new journey in PICPA from the realm of numbers to the domain of values, allow me to put forward and relate the new theme: “Values Above All,” with that of the old theme: “Beyond Numbers: Redefining the Roles of Certified Public Accountants.” The old theme indicates a shift...
It’s been 20 years since Republic Act No. 9298, otherwise known as the Philippine Accountancy Act of 2004” was enacted and implemented. Twenty years ago, artificial intelligence was nonexistent. Matters of sustainability, ethics and governance, international collaborations, and many other...
A major turning point with enormous implications in the accountancy practice was handed down by the Supreme Court lately. The en banc decision on petition for certiorari by the Securities and Exchange Commission (SEC) challenging the original decision of the Regional Trial Court of Davao City that...
Lately, we have often read news about different government agencies touting that they received the “highest audit rating” from the Commission on Audit (COA) by getting an unmodified audit opinion. But what exactly is a COA unmodified audit opinion? Is this really the highest COA audit rating...
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...
The Philippine Institute of Certified Accountants (or PICPA) is the professional organization of Certified Public Accountants (or CPAs) in the Philippines. It has been awarded five times as Professional Regulation Commission's most outstanding Accredited Professional Organization (APO) among...
The accountancy profession in the Philippines is a highly regulated profession. It is regulated by the Professional Regulatory Board of Accountancy (PRBoA), Securities and Exchange Commission, Bangko Sentral ng Pilipinas, Insurance Commission and other regulatory bodies. Those CPAs engaged into...
