About PICPA
The Philippine Institute of Certified Accountants or PICPA is the accredited professional organization (APO) of CPAs by the Professional Regulation Commission (PRC) and has been awarded five times as PRC most outstanding APO from among other professional organizations. PICPA was founded in November 1929 by a group of illustrious pioneers in the accounting profession: Enrique Caguiat, Santiago de la Cruz, Francisco Dalupan, Jaime Hernandez, Felipe Ollada, Ramon del Rosario, Antonio Sanchez, Jose Torres, Artemio Tulio, Clemente Uson and Jesus Zulueta. W. W. Larkin, holder of CPA Certificate No. 1, was its first press.
- To promote and maintain high professional and ethical standards among accountants;
- To advance the science of accounting;
- To develop and improve accountancy education;
- To encourage cordial relations among accountants, and
- To protect the Certificate of Certified Public Accountant granted by the Republic of the Philippines.
A further step was taken when the Accountancy Act of 2004 or Republic Act No. 9298 and its Implementing Rules and Regulations came into form. The law formally recognized the four sectors of the accountancy profession, namely Commerce and Industry, Public Practice, Government and Education / Academe and the four geographical groupings, namely, Luzon, Visayas, Mindanao and National Capital Region. Also implemented was the requirement with respect to Continuing Professional Education. In compliance with the new Law, PICPA amended its By-laws and changed its structure to give strength to the sectors and geographical areas.
As the recognized umbrella organization, PICPA continuously work and collaborate with the Sectoral organizations in advancing the practice of accounting profession in the country.
Given recognition likewise are the Financial Reporting Standards Council (FRSC), formerly the Accounting Standards Council) and the Auditing and Assurance Standards Council (AASC, formerly the Auditing Standards Practices Council.) as the official standard setting bodies of the profession. The Philippines adopts and follows the International Financial Reporting Standards / the International Accounting Standards, the International Standards of Auditing and the International Code of Ethics for Professional Accountants.
ACTION with I.M.P.A.C.T.
“…is a powerful theme that serves a call to action for CPAs to engage in dynamic behaviors while embodying key characteristics that lead to meaningful outcomes as the stay true to their oath as accounting professionals.
The CPA oath encapsulates a commitment to adapt, commit, transform, innovate, optimize, and nurture within the profession, guiding CPAs to uphold integrity, embrace new technologies, and continuously improve their knowledge and skills in a rapidly evolving landscape. It emphasizes a collaborative spirit among CPAs to share insights and best practices, fostering personal growth and professional development to ensure the accounting professional remains dynamic and respected.”
ACTION with I.M.P.A.C.T.
Pivotal characteristics emphasized in the CPA oath, forming the ethical bedrock of the accounting profession.
I ntegrity
M erit
P rofessionalism
A ccountability
C ompetence
T eamwork
The oath mandates CPAs to act with integrity, ensuring honesty and straightforwardness in their professional behavior, confidentiality, and legal compliance, all of which underpin professionalism.
CPAs are held accountable for their judgments and actions, with an expectation to avoid biases and conflicts of interest.
…underscored by the requirement of ongoing professional development and skill enhancement.
…inherent in the culture of professional organization, fostering collaboration to meet collective objectives, share knowledge and provide comprehensive services
