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Philippine Institute of Certified Public Accountants

The National Organization of Certified Public Accountants

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The Philippine Institute of Certified Accountants or PICPA is the accredited professional organization (APO) of CPAs by the Professional Regulation Commission (PRC) and has been awarded twice as PRC most outstanding APO from among other professional organizations. PICPA was founded in November 1929 by a group of illustrious pioneers in the accounting profession: Enrique Caguiat, Santiago de la Cruz, Francisco Dalupan, Jaime Hernandez, Felipe Ollada, Ramon del Rosario, Antonio Sanchez, Jose Torres, Artemio Tulio, Clemente Uson and Jesus Zulueta. W. W. Larkin, holder of CPA Certificate No. 1, was its first president.

The group set forth the following objectives:

  • To promote and maintain high professional and ethical standards among accountants;
  • To advance the science of accounting;
  • To develop and improve accountancy education;
  • To encourage cordial relations among accountants, and
  • To protect the Certificate of Certified Public Accountant granted by the Republic of the Philippines.

Over the years, PICPA has been sustaining its accreditation with PRC. The accreditation started on October 2, 1973, when PICPA was awarded Certificate of Accreditation No. 6, by then PRC Chairman Eric Nubla, after having complied with the requirements for accreditation under Presidential Decree No. 223. This distinction, which recognized the Institute as the bonafide professional organization of CPAs, likewise gave PICPA the responsibility of setting into motion a scheme for the integration of all CPAs in the country.

Integration of the Accountancy Profession was carried out under Resolution No. 106 dated July 12, 1984 as amended by Resolution No. 142 dated March 4, 1987. In compliance with the said Resolution, PICPA revised its By -Laws, and thereafter elected its new set of Board of Directors and Officers on December 2, 1988. With this event, then PRC Commissioner Julio B. Francia subsequently declared that all the conditions for integration had been fulfilled and thus, integration was already accomplished.

A further step was taken when the Accountancy Act of 2004 or Republic Act No. 9298 and its Implementing Rules and Regulations came into form. The law formally recognized the four sectors of the accountancy profession, namely Commerce and Industry, Public Practice, Government and Education / Academe and the four geographical groupings, namely, Luzon, Visayas, Mindanao and National Capital Region. Also implemented was the requirement with respect to Continuing Professional Education. In compliance with the new Law, PICPA amended its By-laws and changed its structure to give strength to the sectors and geographical areas.

Given recognition likewise are the Financial Reporting Standards Council (FRSC), formerly the Accounting Standards Council) and the Auditing and Assurance Standards Council (AASC, formerly the Auditing Standards Practices Council.) as the official standard setting bodies of the profession. The Philippines adopts and follows the International Financial Reporting Standards / the International Accounting Standards, the International Standards of Auditing and the International Code of Ethics for Professional Accountants.

The PICPA Organization Structure

PICPA is a registered non-stock corporation with Geographical divisions, regions and chapters all over the country. Geographical Areas, Regions and Chapters do not have juridical personality separate and distinct from each other or from the national office. The PICPA organization consists of the National Office (supported by a national secretariat), the geographical area, regions, the chapters and the general membership.

The National Office is under the management of officers elected by the members of the Board themselves; headed by the President, the Executive Vice President, the Vice President for Commerce and Industry, Education, Government and Public Practice, the Vice President for Operations, the Secretary, the Assistant Secretary, the Treasurer and the Assistant Treasurer. The composition of the Board are twenty one (21) from the nine (9) regions and four (4) from the sectors. Regional directors are elected regionally; four (4) from Metro Manila and two each from each of the remaining regions. Sectoral directors are voted nationally, one coming from each sector. The President is elected annually but rotated among the regional directors from Metro Manila, Luzon, Visayas and Mindanao and to the extent practicable, among the four sectors of the profession.

The PICPA recognizes the four (4) sectors by which a CPA may be in practice: namely, Public Practice, Commerce and Industry, Education / Academe and Government. The PICPA endeavors to have equal sectoral representations in all its offices from the National Office to its chapters and affiliates. Each Regional Unit elects four (4) Regional Sectoral Representatives who are tasked with the professional development of each particular sector through participation in an accredited Continuing Professional Education program. The Geographical Area Office and Regional Councils are under uniform rules prescribed by the National Board of Directors.

Each of the nine (9) regions is governed by Regional Councils under uniform rules prescribed by the National Board of Directors consistent with the existing rules of the Professional Regulation Commission.

Each Geographical Area consists of Regions and each Region consists of Chapters, except Metro Manila or the National Capital Region which is designated as Geographical and Regional as well. Each Province or City may establish their respective chapter, except Metro Manila which is as already designated under the By Laws. It is the joint responsibility of both the National, the Geographical and the Regional officers to promote and assist in developing chapters. The regions and the respective chapter area coverage included under each geographical area are as follows:

1. National Capital Region (Metro Manila) Geographical Area

              a.   Northern Metro Manila Chapter

                   I.   Caloocan City

                   II.   Valenzuela City

                   III.   Navotas City

                   IV.   Malabon City

              b.   Western Metro Manila Chapter

                   I.   Mandaluyong

                   II.   Manila

                   III.   San Juan City

              c.   Eastern Metro Manila Chapters

                   I.   Marikina City

                   II.   Pasig City

                   III.   Quezon City

              d.   Southern Metro Manila Chapter

                   I.   Las Piñas City

                   II.   Muntinlupa City

                   III.   Makati City

                   IV.   Parañaque City

                   V.   Pasay City

                   VI.   Pateros

                   VII.   Taguig City

   

2. Luzon Geographical Area

              a.   The Northern Luzon Region/Chapters

                  I.   Abra

                  II.   Baguio-Benguet

                  III.   Cagayan

                  IV.   Ifugao

                  V.   Ilocos Norte

                  VI.   Ilocos Sur

                  VII.   Isabela

                  VIII.   Kalinga Apayao

                  IX.   La Union

                  X.   Mt. Province

                  XI.   Nueva Vizcaya

                  XII.   Pangasinan

                  XIII.   Santiago City

                  XIV.  and all the cities therein;

              b.   The Central Luzon Region/Chapters

                  I.   Aurora

                  II.   Angeles City

                  III.    Bataan

                  IV.    BEPZ

                  V.    Bulacan

                  VI.    Cabanatuan City

                  VII.   Nueva Ecija

                  VIII.  Olongapo

                  IX.   Pampanga

                  X.   Tarlac

                  XI.   Zambales

                  XII.   and all the cities therein;

              c.   The Southern Tagalog Region/Chapters

                  I.   Batangas

                  II.   Cavite

                  III.   IRRI/UPLB

                  IV.   Laguna

                  V.   Lipa City

                  VI.   Marinduque

                  VII.   Occidental Mindoro

                  VIII.  Oriental Mindoro

                  IX.   Palawan

                  X.   Quezon

                  XI.   Rizal-outside of Metro Manila

                  XII.   Romblon

                  XIII.  San Pablo City

                  XIV.  and all the cities therein;

              d.   The Bicol Region/Chapters

                  I.   Albay

                  II.   Camarines Norte

                  III.   Camarines Sur

                  IV.   Catanduanes

                  V.   Masbate

                  VI.   Sorsogon

                  VII.   and all the cities therein;

3. Visayas Geographical Area

              a.   The Eastern Visayas Region/Chapters

                  I.   Biliran

                  II.   Bohol

                  III.   Calbayog City

                  IV.   Cebu

                  V.   Eastern Samar

                  VI.   Negros Oriental

                  VII.   Northern Samar

                  VIII.   Ormoc City

                  IX.   Southern Leyte

                  X.   Tacloban City

                  XI.   Western Samar

                  XII.   and all the cities therein;

              b.   The Western Visayas Region/Chapters

                  I.   Aklan

                  II.   Antique

                  III.   Capiz

                  IV.   Iloilo

                  V.   Negros Occidental

                  VI.   and all the cities therein;

4. Mindanao Geographical Area

              a.   The Northern Mindanao Region/Chapters

                  I.   Agusan del Sur

                  II.   Bukidnon

                  VII.   Butuan/Agusan del Norte

                  IV.   Cagayan de Oro

                  V.   Iligan City/Lanao del Norte

                  VI.   Lanao del Sur-Marawi

                  VII.   Oroquieta City

                  VIII.   Ozamiz City

                  IX.   Pagadian City

                  X.   Surigao del Norte

                  XI.   Surigao del Sur-Bislig

                  XII.   Surigao del Sur-Tandag

                  XIII.  Zamboanga del Norte

                  XIV.  Zamboanga Sibugay

                  XV.   and all the cities therein;

              b.   The Southern Mindanao Region/Chapters

                  I.   Cotabato City

                  II.   Davao

                  III.   Davao del Norte/COMVAL

                  IV.   Davao del Sur

                  V.   Davao Oriental

                  VI.   South Cotabato

                  VII.   Sultan Kudarat

                  VIII.  Zamboanga Basilan

                  IX.   and all the cities therein;

Each region, sector and chapter have their own respective governing council. Through the Regional and Sectoral Councils, both the sectors and the regions are represented in the National Board; the Chapters, on the other hand are represented in the Regional Councils through Chapter Presidents.

The National Office, the sectors and the regions are supported by committees which are formed to undertake specific activities. There is no specific limit as to the number of committees that can be established. The composition and responsibilities of the national, geographical, regional, sectoral offices are specified clearly in the existing PICPA By-Laws.

The National Office sets the overall directions and policies, and each sector identifies the specific professional needs and plans the current and future directions accordingly. At their respective levels, the regions and the chapters take care of implementing the Institute’s policies and/or projects as determined or planned by the sectors. The committees provide the necessary services and support to undertake the planned activities or projects.

Affiliate units located in other countries are recognized after complying with the requirements of the National Office and upon approval of the National Board of Directors. List of International Affiliates Chapters are as follows:

                  1. Abu Dhabi, UAE
                  2. Bahrain
                  3. Brunei
                  4. Calgary, Canada
                  5. California
                  6. Dubai, UAE
                  7. East Coast, USA
                  8. KSA Western Province-Jeddah
                  9. KSA Central Province-Riyadh
                  10. KSA Eastern Province-Saudi
                  11. Los Angeles, CA
                  12. New York-Tristate
                  13. Papua New Guinea
                  14. Qatar
                  15. Saipan
                  16. Silicon Valley, USA
                  17. Vancouver, Canada

To recap, the National Office concentrates its efforts on general management, policy formulation, overall direction and coordination, consolidating financial reports, representation before government and other accounting bodies, and addressing national issues. Other that the Annual National Convention (ANC) and Annual Business Meeting, the National Office does not hold events requiring general membership attendance. The sectors, regions and chapters work with the members, since membership is directly attached to them. The functions of these offices determine the chain of command within PICPA and the proper protocol in handling issues.

Publications

The monthly Accounting Times and quarterly Accountants’ Journal are distributed or mailed to the Institute’s members. The Accounting Times carries a newspaper format and reports on new developments in the profession as well as on activities and trends within the organization.

The Journal, on the other hand, contains higher level technical insights and formal papers written by distinguished experts in their field.

PICPA also regularly disseminates exposure drafts and publishes bulletins and pronouncements released by the Financial Reporting Standards Council (FRSC) and the Auditing and Assurance Standards Council (AASC).

The PICPA Building

The four-storey refurbished PICPA building serves as the PICPA Secretariat’s office. The place is staffed by men and women always ready to attend to members’ needs, and is open to all members who wish to use its function rooms for meetings and seminars. In addition to training rooms, the building has a PICPA Library with a well-stocked collection of books, periodicals, clippings and other valuable research materials. It serves members, researchers, as well as students in accounting.

PICPA in the International Scene

Through PICPA, the country is actively represented in the world’s major accounting bodies. Foremost among these international organizations is the International Federation of Accountants (IFAC), the broad objective of which is the development and enhancement of a well-coordinated worldwide accountancy profession functioning under harmonized standards. Another organization is the Confederation of Asian and Pacific Accountants (CAPA), which seeks the development of a coordinated regional accounting profession with harmonized standards. Finally, there is the ASEAN Federation of Accountants (AFA), which strives to work together in a spirit of cooperation with the ASEAN region’s varied groups, whose economic efforts may be complemented by the accountancy profession. PICPA had assumed the overall leadership of these organizations in a number of times and has been taking active roles in the pursuit of their respective goals. PICPA had also a significant part in the formative years of these organizations. Several conferences sponsored by these international bodies were held in the Philippines and led by high ranking PICPA officials; not to mention that as early as 1957, the First Far East Conference of Accountants initiated by PICPA and held in Manila brought forth the idea for the need of organizing internationally linked accounting bodies.

Year-Round Continuing Professional Education Program (CPE)

Seminars are regularly organized on varied technical subjects such as Auditing, Taxation, Management Services, Accountancy Education, International Accounting Standards and Philippine Standards on Auditing, EDP, etc. conducted by outstanding lecturers and speakers. Attendance to CPE provides opportunity to make valuable contacts with fellow members for a mutually beneficial exchange of ideas and experiences, and to earn CPE credits.

Vision

A responsive and globally relevant professional organization committed to service excellence towards its member and stakeholders.

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.

Core Values

A responsive and globally relevant professional organization committed to service excellence towards its member and stakeholders.

1. Professional Excellence – We are committed to excellence in all aspects of our professional practice.

2. Integrity – We advocate the truth and conduct ourselves at all times with honesty, uprightness and adherence to sound moral principles, thereby gaining the respect of the public.

3. Commitment – We bind ourselves to uphold these ideals to ensure the accomplishment of PICPA’s Vision and Mission.

4. Partnership and Team Work – We uphold a strong bond of unity, working in the spirit of harmony and commonality.

5. Advocacy for Quality – We strictly adhere to the code of professional conduct adopted by PICPA to ensure highest spiritual, moral and ethical standards.

6. New Technologies and Innovativeness – We seek and apply new ideas to improve performance. We continuously promote creativity, flexibility and resourcefulness amidst constant change.

7. Social Responsibility – We commit ourselves to a strong, active and devoted sense of duty to society.

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The environment in which PICPA operates is changing rapidly. All businesses and organizations, including PICPA,  understand that change is both natural and inevitable. PICPA members are realizing that the skills and capabilities needed today are vastly different from those of five years ago. Unless PICPA  transforms with the times, there is a very real risk that the organization may become entrenched in securing the ship with traditional operating structures instead of taking advantage of emerging technologies and innovation.

PICPA as an organization needs to be open and willing to embrace new ways of doing things in order to fortify its relevance to its members, the Filipino accountants and the accountancy profession as a whole. It needs to TRANSFORM with Resiliency, Agility and Innovation. Resiliency reflects our strength and ability to recover from challenges. Agility demonstrates our ability to move quickly and react positively to disruptions. Innovation is our willingness to accept and embrace new ideas, processes and technologies to find better solutions.

By being resilient, agile and innovative, we are better able to take advantage of the opportunities. By building on our transformative capabilities, we are able to dynamically shift our strength and focus in order to seize these opportunities and create greater value. By transforming, we are able to better shape and hone the PICPA of the future that is able to respond to the needs of all its stakeholders.