Grand Ballroom, Hotel Intercontinental Manila
July 21, 2009
As part of this year’s celebration of Accountancy Week spearheaded by the Philippine Institute of Certified Public Accountants (PICPA), the Association of Certified Public Accountants in Commerce and Industry (ACPACI) organized its First CFO/Controllers’ Summit and a General Membership Meeting last July 21, 2009 at Grand Ballroom, Hotel Intercontinental Manila, Makati City.
This First CFO/Controllers' Summit intends to bring together CPAs in the private sector on how they can learn and share experiences with their fellow CPAs weather and have the upperhand during challenging times. Mr. Delfin C. Gonzales, Jr, Chief Finance Officer of Globe talked on the the topic Leading and Balancing the CFO/Controller’s Role in Challenging Times where he emphasized to the group that a Finance Head has a pivotal role in clinching and making sure that his company does not end up in crisis. He said that we should learn how to balance the company's finances and temper management's aggressiveness.
Another keynote speaker was Mr. Jose T. Sio, Executive Vice President and CFO of SM Investment Corp. who discussed how SMIC weathered the current economic crisis and yet is Expanding and Growing Business. Here, he outlined the experience of SMIC during the past decades. He also highlighted the economic and political crisis the company endured, and its responses to each of these events. Mr. Sio said that while leveraging is good in a stable economy, it is very risky in crisis time. A company that has good financial standing and liquidity will be ready to take advantage of the opportunities presented by the economic turmoil.
The second part of the day was dedicated for the association’s General Membership Meeting. It started with the respective PICPA and ACPACI President's rendering their reports and announcements. New ACPACI members were also inducted by the association’s president, Ms. Corazon S. Rey. The Honorable Senator Manuel B. Villar graced the meeting with his presence as he gave his address on the theme: Building and Forging Relationships.
This was followed by keynotes on Corporate Governance & Risk Management from the CFO/ Controller’s Perspective by Ms. Helen T. De Guzman- VP Controller of Manila Electric Company. The finale and capping keynote speech was rendered by Mr. James Lafferty of Procter and Gamble as he talked on Leadership in Challenging Times- Bringing out the best from the Filipino Controller. He said that trust, integrity and being able to tell the truth when its difficult will not only earn you the respect and confidence of your subordinate.
It was indeed a success holding this 1st CFO/Controllers Summit that was very well attended by PICPA and ACPACI members.