The agreement between the two bodies was signed on 31st May 2012 by ICAEW President Clive Parritt and PICPA President Josefina G. Chua. The signing ceremony took place at the China Britain Business Council office at the British Centre, Beijing, China, during the Confederation of Asian and Pacific Accountants Conference.
The MoU represents a commitment from the two bodies to develop talent, share knowledge and advance the accountancy profession in the Philippines and the region. ICAEW and PICPA will develop learning programmes in areas of mutual interests, such as International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA) and audit firm governance as well as share the latest advances in corporate governance, professional ethics and technical research.
Clive Parritt, ICAEW President, said: “This agreement will further strengthen the relationship between ICAEW and PICPA. With the increase of globalisation, it is very important for professional bodies in different countries to work together across national borders, and to learn from each other. This will also help us support our members professionally, technically and ethically, in different regions.”
“Business confidence is underpinned by the crucial work of accountants and auditors across the world. As the Philippine economy continues to grow, their work will become more important, and it is vital that they are able to call upon the support they need. ICAEW is working in partnership with national accountancy bodies around the world to help promote and develop best practices, and we look forward to working closely with PICPA too."
Josefina G. Chua, President of PICPA said: “PICPA is delighted in expanding its international relations with ICAEW, a leading global accountancy body with a long and distinguished history. Members of both Institutes will now be able to share knowledge and support, and we look forward to further strengthen the accounting profession in the Philippines.”
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Notes to editors:
1. ICAEW is a professional membership organization, supporting over 136,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession.
Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organizations and communities to help them achieve long-term, sustainable economic value.
Because of us, people can do business with confidence.
ICAEW is a founder member of the Global Accounting Alliance, which represents around 775,000 of the world's leading professional accountants in over 165 countries around the globe, to promote quality services, share information and collaborate on important international issues.
2. PICPA is an association of over 23,000 Certified Public Accountants (CPAs) in the Philippines with eighty nine (89) Chapters located in nine (9) Regions divided into four (4) Geographical Areas in the Philippines, namely: Luzon, Visayas, Mindanao and Metro Manila, serving as the umbrella body of all CPAs in commerce and industry, education, government, and public practice. PICPA has fifteen (15) international affiliates/chapters in eight (8) countries.
PICPA is the only Accredited National Professional Organization of CPAs (APO) recognized by the Board of Accountancy and Professional Regulation Commission of the Philippines under Republic Act No. 9298.
PICPA is a member in good standing of the Asean Federation of Accountants (AFA), Confederation of Accountants in the Pacific and Asia (CAPA), and the International Federation of Accountants (IFAC).
Consistent with its commitment to promote the professional development, stature and prestige of its members through programs that are responsive to their needs and to address the demands of the public, PICPA is strengthening its Continuing Professional Development (CPD) Program for members and associates.
