The CPA Professional Organization – Manila Bulletin
The Philippine Institute of Chartered Accountants (or PICPA) is the professional organization for Certified Public Accountants (or CPAs) in the Philippines. It has been awarded five times as the Most Outstanding Accredited Professional Organization (APO) by the Professional Regulation Commission among other professional organizations. PICPA was founded in November 1929 by a group of illustrious pioneers of the accountancy profession. WW Larkin, CPA #1 certificate holder, is PICPA’s first president. PICPA was established primarily to promote and maintain high professional and ethical standards among accountants, to advance the science of accountancy, to develop and improve the education of accountancy, to encourage cordial relations among accountants, and to protect the chartered accountant- Chartered Accountant issued by the Republic of the Philippines.
The enactment of Republic Act 9298 (or the Accounting Act of 2004) into its implementing rules and regulations formally recognized PICPA as an accredited professional organization of CPAs and the four sectors of the accounting profession, namely commerce and industry, public practice, government and education. , and the four geographical groups of members, namely Luzon, Visayas, Mindanao and the National Capital Region. The same act also recognized the Financial Reporting Standards Council or FRSC (formerly the Accounting Standards Council) as the recognized accounting standards body and the Auditing and Assurance Standards Council or AASC (formerly the Auditing Standards Practices Council) as the accounting standard. recognized audit. adjustment body. The two standard setters are responsible for reviewing and adopting International Financial Reporting Standards for accounting and International Standards on Auditing for auditing. In keeping with the goals of advancing the science of accounting and maintaining high professional standards among accountants, PICPA has taken responsibility for rolling out seminars and webinars before and during the pandemic to provide accountants with ways and opportunities to keep abreast of constant developments. accounting and auditing standards and to provide assistance to accountants in obtaining the 120 continuing professional development units required for accreditation purposes.
The PICPA organization consists of the national office, four geographic areas, nine regions and 84 chapters nationwide. Each geographic area is made up of regions and each region is made up of chapters. All nine regions are represented, and all four sectors are also represented on PICPA’s 25-member national board. Regional directors are elected at regional level and sector directors are elected at national level, one from each sector. The President of the Institute is elected annually but rotates between the regional directors of Metro Manila, Luzon, Visayas and Mindanao and, where possible, between the four sectors of the profession. Through the National Board of Directors, the National Office establishes the general direction, policies and projects of the Institute. At their respective level, the Regional Councils and the Chapter Councils implement the orientations and projects of the Institute. National Committees, formed annually by the National President, are responsible for developing and organizing projects and events that will support and operationalize the Past President’s annual theme.
There is no dull moment in PICPA. The start of each fiscal year is more exciting due to the annual celebration of Accounting Week. Every third week of July, the entire PICPA organization and accountants across the country are in a frantic mood. The PICPA national office and various chapters in other parts of the country would organize and run concurrent conferences and events during accounting week. As a result, all members have the opportunity to engage in various forms of meaningful and relevant learning experiences. The four sectoral professional organizations – ACPAPP, ACPACI, GACPA and NACPAE are also involved and active during the celebration of the week. After July, the following months are endless, almost overlapping seminars, webinars and conferences.
PICPA’s big event is its annual national convention. Taking place every November of the year, the Convention usually brought together no less than 3,500 members before and even during the pandemic.
PICPA is not just an organization of professional accountants. It is an association of well-meaning, committed and happy people, ready to serve and to give their time and resources and, at the same time, to engage in lifelong learning. Indeed, it is more fun to be a member of PICPA.
SUBSCRIBE TO THE DAILY NEWSLETTER
CLICK HERE TO REGISTER