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President's Report

1st General Membership Meeting

May 21, 2020

To officers and members of  Association of CPAs in Commerce & Industry; and our ACPACI Chapter Presidents:

Past Presidents and officers of ACPACI and Philippine Institute of CPAs President Evylyn Corpuz; Association of CPAs in Public Practice President Anita Rodriguez; Government Association of CPAs President Atty. Bubut Tan; National Association of CPAs in Education President Flong Tugas; to our distinguished speakers, Honorable Stella Luz Quimbo, 2nd District Representative of Marikina City; Board of Accountancy Chairman Honorable Noe Quiañola; and to our fellow CPAs, colleagues and friends – welcome to our ACPACI General Membership Meeting and a very pleasant morning to all.

Let me share with you the activities of our organization, ACPACI for the past months.

Strategic Planning Session – January 11

In the early part of this year, ACPACI Board Members and committee chairpersons had a productive whole day Strategic Planning Session  on January 11.  This was held at Six/Neo Building, BGC, Taguig City wherein we strategized our actions and plans for year 2020.

ACPACI Induction Ceremony – January 24

On January 24, ACPACI had its Induction Ceremony at Dusit Hotel in Makati City and the occasion was graced by no less than the Chairman of the Professional Regulations Commission, Honorable Teofilo S. Pilando, Jr. and  our PICPA President Evelyn Corpuz.  Atty. Fredieric Landicho, Deloitte Philippines Chief Executive Officer and Country Managing Partner was our keynote speaker.

PICPA PGS Meeting – January 7

In matters of our PICPA support and coordination, we had participated on January 7 on the Performance Governance System (PGS) Committee discussions. PGS is a governance framework that utilizes a balanced scorecard as a tool to incorporate good governance and best practices in the profession.  We want to thank Madame PGS Chair Noemi Villaruz for giving us the opportunity to be part of the committee and ACPACI will continue to support this initiative under the current PGS Chairmanship of Mr. Jun Cuaresma.  

1st National Summit of CPAs in Commerce & Industry – January 30

With PICPA Metro Manila Region, we held our 1st National Summit of CPAs in Commerce & Industry at Century Park Manila on January 30 and 31 where Bangko Sentral ng Pilipinas Governor Honarable Benjamin Diokno gave the key note message.  The summit was attended by around CPAs.

PICPA 1st Women Summit – March 6

On March 6, in celebration of International Women’s Month, ACPACI participated in PICPA’s 1st Women Summit which was held at Shangri la Hotel Makati with Senator Cynthia Villar as its keynote speaker.    

Position Paper and Comments on Accountancy Law Amendments – February 7

With regard to the amendment of the Accountancy Law, ACPACI’s Regulatory and Special Project Committee evaluated the current provisions of the law in order for us to further strengthen and enhance the accounting profession especially in the commerce and industry sector.  We had submitted our comments and position paper on February 7 to the Board of Accountancy.

Joint Letter with Professional Organizations to DOF  for the Extension Filing Due Dates – March 12

Together with PICPA, the Association of CPAs in Public Practice (ACPAPP), Tax Management Association of the Philippines (TMAP) and Bankers’ Association of the Philippines (BAP), we have forwarded on March 12 to the Department of Finance our request for the filing extension of various tax returns and documents due to the Community Quarantine.  We have a positive response as the due dates of filings were initially moved to the month of May and further to the month of June.

Joint Letter with Professional Organizations to BIR for Submission Facilities on AITR  Attachments – May 7

Due to the Enhanced Community Quarantine, again together with PICPA, Association of CPAs in Public Practice (ACPAPP), Tax Management Association of the Philippines (TMAP) and Bankers’ Association of the Philippines (BAP), we have forwarded on May 7 our joint letter addressed to the Commissioner of the Bureau of Internal Revenue regarding our request for an online and other forms of submission (such as through courier and use satellite areas) of the Annual Income Tax Returns attachments  in order for us to minimize public exposure due to our current pandemic situation. 

Comments on AASC Exposure Draft A-001 – May 15

ACPACI also reviewed the Audit and Assurance Standards Council Exposure Draft A-001 with regard the Amendments on Regulations on Financial Audit of Banks and Non-Bank Financial Institutions.  We had submitted our comments on May 15.

Webinars – April 21 to May 15

In supporting the Professional Development  of our members,   this Community Quarantine (whether ECQ or MECQ) did not hinder us in reaching out to our fellow ACPACIans and PICPA members, as ACPACI had partnered with PICPA Metro Manila Region to provide free Webinars.  ACPACI and PICPA MMR not just ensured that topnotch speakers delivered and discussed the topics, but the subjects were relevant and timely.  From last month to date, we have a dozen Webinars offered provided to our fellow CPAs.   

OASP Planning Meeting – February 21

With regard to Scholarship activities of ACPACI, on February 21, we have met with the officers of PICPA, National Association of CPAs in Education (NACPAE) and P&A Foundation and had discussed our continuous collaboration for the annual Search for Outstanding Accounting Students of the Philippines (SOASP).  There is a supposed signing of the Memorandum of Understanding during the NACPAE Annual Conference but just have to be deferred due to the current quarantine situation.    

Shares Shoes Project:  Good for the Soles – February 9

Regarding ACPACI’s Social Involvement commitment, on February 29, the officers of ACPACI went to Nasugbu, Batangas to distribute Bata shoes and school supplies to around 400 students of Looc Elementary School.  ACPACI is thankful with our partner, SM Foundation that made this event successful and memorable to the students, parents and teachers of Looc Elementary School.

In Closing

The activities of our organization, ACPACI would not succeed without the members and officers’ unwavering support and the assistance coming from PICPA, PICPA Metro Manila Region and the professional sectors of the Association of CPAs in Public Practice, National Association of CPAs in Education and Government Association of CPAs, and our friends from both the private and government sectors.  In behalf of ACPACI, I would like to extend my heartfelt thanks to all.  We are not yet in middle part of the year and I believe we have still so much to accomplish and - we can make it, as long as we all work together and for the better.  God bless to all of us and maraming salamat po!

Atty Walter

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