A Digital Magazine published by PICPA MMR GAO

February 2019 ISSUE

THE

N-E-W-S Chapter Reports

Digi-Ledger

2019 PICPA MMR GAO CONFERENCE

The Philippine Institute of Certified Public Accountants (PICPA) Metro

Manila Region and Geographical Area Office (GAO) held its 2019 MMR-

GAO Conference on March 13, 2019 at the Isla Ballroom, EDSA Shangri-

La Hotel, Mandaluyong City.

The MMR-GAO Conference is an annual gathering of CPAs from all

sectors where matters, issues, and concerns affecting the profession are

discussed. This year’s conference covered a variety of topics delivered by

knowledgeable speakers, starting with the Assistant Director of the

Securities and Exchange Commission, Atty. Rosario Carmela Gonzalez-

Austria who talked about achieving corporate governance initiatives. Atty.

Eric Recalde, Partner of ACCRA Law Office, presented a more proactive

approach in looking at new laws and regulations (New Corporation Code,

AMLA, etc.) and its impact on business operations.

Before lunch break, Enrico Baluyut, Partner of KPMG R.G. Manabat & Co.

and incumbent ACPAPP President, spoke on the recent interpretations on

the new PFRS released by the Philippine Interpretations Committee and

how this should enhance financial reporting. This session achieved the

organizers’ goal to shift the focus on these interpretations vis-à-vis the

“normal” PFRS updates that CPAs are used to, and how the

Interpretations Committee functions as body.

As a way to take a breather from all the technical knowledge in the

morning session, the attendees had fun interacting with Mark Joseph

Ubalde, a digital communications consultant, social media strategist, and

Manila Times columnist, among others. He brought everyone along on the

journey of detecting and dealing with fake news and trolls. The attributes of

reliability and accuracy were among the session’s key takeaways.

What is business without the related risks? The next session further

strengthened our knowledge on risk management with Leonardo Matignas,

Jr., Partner of SGV &Co., who gave a deeper appreciation and

understanding on the topic.

The final session was on updates on tax amnesty and basic features of the

TRABAHO bill by Atty. Carlos Carado, Tax Partner of Isla Lipana &

Co./PwC Philippines. He gave various scenarios in order to assess if an

organization can qualify for the requirements of the tax amnesty program,

including the process of availment. While we expect that the TRABAHO bill

will not be finalized within the next couple of months, Carlos pointed out

the salient features and the potential benefits towards making our country

more attractive for investors.

The PICPA GAO and MMR would like to thank:

•all 161 participants whose feedback validated the speakers’ effectiveness

and the overall conference organization – proof of another successful

learning day for all

•PICPA National President, Asuncion Golez, who came all the way from

Bacolod – her presence and support were truly valuable

•the powerful tandem of Noemi Villaruz, Chair - GAO MMR Council and

Marivic Españo, Chair MMR Council, whose ideas and suggestions made

the entire conference relevant to members

•the PICPA officers who were present in person and in spirit – the event’s

success was due to their dedication to the purpose of serving PICPAns

•Fanny Madraga and her MMR Secretariat team for their tireless efforts

that made the whole conference an organized and smooth sailing one.

To God be the Glory!

N-E-W-S Chapter Reports

More than 200 participants attended NMMC’s 3rd General Membership Meeting

last February 16, 2019 held at the 3rd Floor of PICPA Building, Shaw Blvd,

Mandaluyong. “Trends in F/S Reporting for SMEs” by Mr. Jesse Rey Menesses was

the hot topic during morning session while Mr. Mark Chito Fajiculay dealt on

“Accounting Updates” for the afternoon session. Since it was Feb-ibig, Mr. Fajiculay

kick-off discussions with love questions such as “What Is Love” and “Kung hindi ka

CPA or Accountant, ano ka ngayon”? definitely seized the day of all participants.

Raffle items were also given during break time

NMMC Updates

3RD GENERAL MEMBERSHIP MEETING

CPD ON TOUR

DONATE-A-BOOK PROGRAM

As part of NMMC Advocacy to help accounting students, PICPA

NMMC donated books to several universities as follows:

•JPIA-UE – Event: “2nd Teresita Nadurata Cup: the Quest

Continues” on February 19, 2019.

•JPIA-PUP - Event “11th Annual Pylon Cup” on March 24, 2019

•JPIA-FEU – Event “19th Nicanor Reyes Sr. Cup” dated March 13,

2019

NMMC always believe and hope that all donated books would not

only help them with their academics but also get them closer to

everyone’s dream of being a “CPA”.

On 22nd of February, 2019, more than 500 students of North Luzon

Philippines State College - Candon City, Ilocos Sur attended free

accounting seminar. This was made possible thru successful partnership

between Northern Metro Manila Chapter and Eastern Metro Manila.

The event was graced by both Chapter Presidents Mr. Paul See (EMMC)

and Ms. Ellen de Guzman (NMMC) and well attended by its supportive

officers.

GIFT-GIVING PROJECT

Last February 22, 2019 was a meaningful day for PICPA Northern

Metro Manila Chapter (NMMC) and Eastern Metro Manila Chapter.

Both organization combined their efforts, time and energy for a

successful Gift-Giving Project at Bagar Elementary School, - Candon,

Ilocos Sur by distributing free slippers to its 250 students. The children

were delighted and thankful for this simple but very useful gift that they

can use in going to and from their school. To all officers, it was indeed

a joy to be part of this project.

FREE SEMINAR-WORKSHOP FOR SHS STUDENTS

OF GEN. T. DE LEON NATIONAL HIGH SCHOOL

As a project to bridge the gap between the Secondary and Tertiary Level

of Education in the Accountancy Program, PICPA-Northern Metro Manila

Chapter, in collaboration with De La Salle Araneta University, conducted

series of free workshops for SHS facilitated by the Chair for Student’s

Participation Committee, Ms. Agnes M. Seifnezhad.

Furthermore, 40 SHS-ABM students from Gen. T. de Leon National High

School taking their NCIII Bookkeeping Assessment were trained in a

workshop entitled “The Accounting Equation Applied in a Merchandising

Business and Understanding the Adjusting Entries” last February 22, 2019.

Under the same project, another free workshop was done

last February 26, 2019 with 33 SHS-ABM students from

Lawang Bato National High School as the beneficiaries.

FREE SEMINAR-WORKSHOP FOR SHS

STUDENTS OF LAWANG BATO

NATIONAL HIGH SCHOOL

FREE SEMINAR-WORKSHOP FOR

UGONG SENIOR HIGH SCHOOL

In present of PICPA-NMMC in partnership with De La

Salle Araneta University, conducted workshop on Basic

Accounting last March 7, 2019 for the 20 Grade 11 ABM

students of Ugong Senior High School. It was facilitated

by Ms. Agnes M. Seifnezhad, the Chair for Student’s

Participation Committee. These Accountancy Bridging

Program of the chapter. Last FFebruary 24, 2019 -

PICPA NMMC’s Mr. Mark Chito

D. Fajiculay ran a free seminar

about Train Law and Tax

Updates in partnership with

Quezon Federation of Junior

Philippine Institute of

Accountants (QFJPIA) at Manuel

S. Envarga University

Foundation, Lucena City. With

the theme Dignitas: Surviving

Forward to Superiority the

regional event was attended by

approximately 150 students from

various universities in Quezon

province.

NMMC JOINS PROJECT

WITH QFJPIA

FREE SEMINAR-WORKSHOP FOR DELA

SALLE ARANETA UNIVERSITY

ADMINISTRATORS

On March 1, 2019, PICPA-NMMC conducted a workshop

for the administrators of De La Salle Araneta University on

School-Based Budgeting.

FREE SEMINAR FOR NGOS

On February 19, 2019, NMMC sponsored a seminar for

non-government organizations at 3rd Floor of PICPA

Building, Shaw Blvd., Mandaluyong City. It was attended

by more than 100 participants from different cities of Metro

Manila. Resource speakers who shares their expertise

and knowledge were Mr. Mhycke Gallego who tackled

about “Internal Control Standards and Ms. Veronica Ester

Mendoza who discussed “Monitoring and Evaluation for

Social Changes”.

1ST SEARCH FOR OUTSTANDING

ACCOUNTING STUDENT LEADERS

The awarding ceremony for the Search for 1st

Outstanding Accounting Student Leaders was held at

PICPA Building, Shaw Blvd., Quezon City last March 9,

2019. NMMC representative, Mr. Allen P. Berdan from

University of Caloocan City, Camarin got the first place in

the Comprehensive Examination

PICPA NMMC HOLDS IT’S 9TH REGULAR

CHAPTER MEETING

PICPA Northern Metro Manila Chapter held its 9th regular chapter

monthly meeting last March 11, 2018 at Max Restaurant, Sct.

Tuazon, Brgy. Sacred Heart, Quezon City. Ms. Ellen de Guzman,

NMMC President, presented the Chapters, Financial Performance,

Membership Update, Scheduled Seminars, CPD on Tour, Seminar

for NGOs, Comelec Timetable and Matters from MMR Council.

NMMCAnnouncements

NMMCAnnouncements

N-E-W-S ChapteReports

With 26 schools and over 500 students, Team Picpa - Eastern Metro Manila Chapter - Official, headed by Chapter President Paul See supported the

NFJPIA Grand Academic Summit 2019 held on February 3, 2019 at Bulwagang Balagtas, PUP Sta. Mesa Manila. Opportunities offered by various Audit

firms were discussed and a quiz bee was conducted.

EMMC Updates Team PICPA-EMMC on NFJPIA Grand Academic Summit 2019

Seminars on Fraud 101 and Accounting for

Non-Accountants for Pag-IBIG Fund Cebu

Province and Eastern Visayas Employees

With the #mayPAGIBIGsaPICPAEMMC, a special seminar on Anti-

Money Laundering. Fraud Prevention and Business Ethics and

Culture and Accounting for Non-Accountants was conducted for 200

Pag-IBIG Fund Cebu Province and Eastern Visayas. Mr. Rio Teves,

Pag-IBIG Fund Vice President for members services operations for

Visayas and Mindanao graced the event.

3rd General Membership Meeting

Team PICPA-EMMC held its 3rd General Membership Meeting (GMM) on February 13, 2019 at PICPA Bldg., Shaw Blvd., Mandaluyong City. BOA Chair

Noe Quiñanola shared Updates from the Brand of Accountancy on New Development that will Impact the CPAs in Public Practice and Commerce &

industry. Ms. Fideles Pe Benito discussed SEC Updates and Findings in the SEC’s review of the Financial Statements. Representatives of CMA, CFA

Society, CIA and CFE presented internationally-accredited certifications and the Paths to Becoming a Globally Competitive CPA.

Team PICPA-EMMC on National College of

Business and Arts, Cubao Foundation Day

Team PICPA-Eastern Metro Manila Chapter supported the activity of

the Junior Philippine Institute of Accountants — National College of

Business and Arts (NCBA), Cubao during its Foundation Day

celebration on February 15, 2019 at the NCBA - Cubao, Quezon City.

The Seminar entitled FORTE: Building the Nation through Public

Practice featured various speakers.

Partnership with UPJPIA for the Accounting Career

Executive Summit (ACE Summit)

March 24, 2019

Special Seminar for Pag-IBIG Fund on Business Writing

and Oral Communication Skills

March 30, 2019

10th Monthly Regular Meeting

April 16, 2019

Special Movie Screening: Avengers Endgame

April 27, 2019

8th Monthly Board and

Officers’ Meeting

Team PICPA-Eastern Metro Manila Chapter held

its 8th Monthly Board and Officers’ Meeting on

February 19, 2019 at the Max’s Restaurant.

Headed by Incumbent President Paul Chester

See the meeting covered the review of financial

results to-date and membership status, the

chapter’s line-up for the upcoming national

elections, the review of seminar offerings, and

the upcoming projects and activities. It was also

an opportunity to celebrate the month’s birthday

celebrators.

Team PICPA-EMMC and Team PICPA-NMMC Joint Tour at

Ilocos Sur

Team PICPA-EMMC and Team PICPA-NMMC went to a Joint Tour to Ilocos Sur on February 22,

2019 an accounting and tax seminar for college students of North Luzon Philippines State College.

It was followed by a gift-giving activity to over 200 children at Bagar Elementary School in Candon

City, Ilocos Sur.

Accounting for Non-Accountants for Pag-Ibig Fund

Employees

Seminar on Accounting for Non-Accountants was conducted for the HDMF employees by Team

PICPA-EMMC on February 23, 2019 at the Pag-ibig Fund, Pasay Branch. Ms. Jelay Ubaldo,

Division Head of Pag-ibig Fund-East and an active officer of PICPA-EMMC, organized the

successful event.

Financial Literacy for the

Malabon Teachers

Ms. Ivy Zafe, an officer of PICPA-EMMC,

together with JA Philippines conducted a

Financial Literacy seminar for the teachers of

Malabon on February 18, 2019. Exercises were

actively done by teachers to assess their

learnings on each topic.

EMMCANNOUNCEMENTS

EMMCANNOUNCEMENTS

N-E-W-S ChapteReports

WMMC Updates

SPECIAL PROJECT

The 6th Batch of Accounting for Non-Accountants (AFNA) as

spearheaded by the PUP College of Accountancy and Finance in

partnership with PICPA-WMMC, Local Government of Mandaluyong

and DTI-NCRO thru it’s Negosyo Center on it’s module 1 (February

13, 2019) and module 2 (February 20, 2019) workshop series.

Participants in the program were screened and selected by PUP-CAF

and City Entrepreneurship Office of Mandaluyong City.

Visita IglesiaMarch 24, 2019

3rd GMM “ Embracing the World of

Leaders”March 30, 2019

Adopt a Chapter (PICPA Cagayan

Chapter)May 18, 2019

WMMC’sSAVE the DATES

ACCOUNTING FOR NON-ACCOUNTS SEMINAR SERIES

1ST SEARCH FOR OUTSTANDING

ACCOUNTING STUDENT LEADERS

PICPA-WMMC student representative from De La Salle University

captured third place in the recently held First Search for Outstanding

Accounting Student Leaders held last March 7-9, 2019 at PICPA House,

Mandaluyong City. Other top two winner schools are 1st-University of

San Jose Recoletos and 2nd – University of St. La Salle.

2019 PICPA MMR GAO CONFERENCE

Members of PICPA WMMC led by it’s President Editha Peralta

attended the PICPA MMR-GAO at EDSA Shangrila Plaza Hotel last

March 13, 2019.

N-E-W-S ChapteReportsSMMC Updates

The directors of PICPA SMMC were in full

attendance during the March 7, 2019 board

meeting held at BDO Roxas Cruz Tagle & Co. in

Makati. Among those tackled were the membership

status and financial performance as of and for the

month of January 2019 of the chapter, status of

ExCL projects including the most recent 2nd

CARAGA Conference in Bislig City, seminar

offerings, reports on the 3rd GMM and the

preparations for the May 2019 PICPA election.

SMMC Directors in Full Attendance

for March 2019 Board Meeting!

SMMC hosts its 3rd GMM at the MAAX

For the second time this year, SMMC once again held its General Membership Meeting (GMM)

at the spacious auditorium of SM Mall of Asia Arena Annex. In the morning, the participants

listened attentively to Atty. Raquel Dujunco as she shared her expertise about “Legal Remedies

of Taxpayers”. During lunch time, the General Membership Meeting started with a video

presentation about PICPA SMMC—what are the significant projects and accomplishments for

the year. Among the accomplishments include: providing free seminars to CPA teachers,

granting scholarships to deserving Accountancy Students who need financial assistance in

reviewing for the CPA Board Exams, conducting free accounting for non accountants, seminar

for farmers in coordination with SM Foundation, among others. In the afternoon, the topic was

about “Corporate Governance” delivered by Atty. Arnold Apdua. There was a total of 270

participants to the said GMM, mostly coming from the Private (Commerce and Industry) and

Public Sector

SMMC Brings CPD ExCL to Bislig!

As part of its advocacy project, PICPA SMMC supported the PICPA Bislig Chapter in its 2nd CARAGA Conference by bringing top-caliber speakers for

the technical sessions of the conference held on February 27 to March 1, 2019 in Surigao del Sur. Volunteer speakers from PICPA SMMC were Dean

Danny Cabulay who discussed IQ-EQ-AQ for CPAs, Atty. Arnold Apdua who spoke about Tax Updates and SMMC Director Rosemary de Mesa who

covered Fraud Prevention, Analysis and Detection Techniques. The event was also graced by PICPA SMMC President Tina Ocampo. The conference

was attended by CPAs from 8 PICPA chapters from Mindanao.

The venue of the conference was sponsored by the local government unit of Bislig City thru Bislig OIC Mayor Renefredo Camba who is also a CPA.

Among the high-profile guests and speakers were Congressman Johnny T. Pimentel, BOA Chair Noe Quinanola, BOA Member Gervacio Piator and

CARAGA BIR Regional Director Jose Eric Furia and 35 BIR key officials of CARAGA Region.

SMMC’sSAVE the DATES

MMR - GAO Updates

2018-2019 Editorial Board

MMR Chair Ma. Victoria Españo, GAO Chair Normita Lansang- VillaruzAdviser: PICPA MMR Adm. Mgr. FannyMadraga

January Issue Contributors Ellen De Guzman (NMMC) Paul Chester See (EMMC)

Editha Peralta and Vanessa Mae Abrera-Vibar (WMMC) Yusoph Maute & Venisse Ann Parungao (SMMC)

Chapter Representatives for PublicationsAtty. Rosita C. Cham (NMMC)

Ivy Marie Zafe (EMMC)Vanessa Mae Abrera-Vibar (WMMC)

& Yusoph Maute (SMMC)