PICPA Lipa City Chapter Activity Report November 2019 Rev

ACTIVITY REPORT
November 2019
SUMMARY OF ACTIVITY REPORT
For the Month of November 2019
DATE EVENT/VENUE KEY RESULTS AREA

November 9, 2019 CPD Seminar 101: PFRS 15 & 16 xx
AVR, Lipa City Colleges
November 12, 2019 Aim High JPIANs, our future
CPA’s
Lipa City Colleges
November 14 & 15, Regulators’ Forum
2019 Hotel Dominique, Tagaytay City
November 16, 2019 CPD Seminar 102: Descriptive
and Diagnostic Analytics
Workshop for SMEs Thru Excel
RB Alvarez Accounting Office,
Sabang, Lipa City
November 20-23, 74th PICPA Annual National
2019 Convention Laoag 2019
Centennial Arena, Laoag City
November 22, 2019 5th Regional Council Meeting
Chowking, Laoag City
November 23, 2019 5th Monthly Meeting
Seafood Island, Vigan, Ilocos Sur
INFORMATION DISSEMINATION
Event : CPD SEMINAR 101: PFRS 15 & 16
Venue : AVR, Lipa City Colleges
Date : November 9, 2019
Number of Participants : xx
Key Results Area : xx
A discussion entitled “CPD 101 Seminar on PFRS 15 and 16” was held last
November 9, 2019 at Lipa City Colleges. The eloquent technical speaker, Atty.
Reginald Laco, shared his extensive knowledge about these two standards
which pertain to Revenue from Customer Contacts and Leases respectively. He
elaborated the differences of these revised standards from the old one
because of the numerous effect on the current accounting process compared
with the past years. PFRS 16, “Leases” was discussed more extensively than the
first one since the changes from this standard were more complex. In addition,
the seminar was attended not only by professionals but also by senior
accountancy students from the said school. It was a great opportunity for the
attendees to boost their knowledge about these two specific standards and to
be aware of the changes and revisions made on it.
Event : AIM HIGH JPIANS, OUR FUTURE CPAS
Venue : Lipa City Colleges
PICPA Lipa participated and sponsored the events of JPIA LCC Chapter such as
(kindly mention the activity/ies), being part of the goals of the chapter is to
harness students' skills and potentials. Aim High JPIANs, our future CPAs.
Event : REGULATORS FORUM
Venue : Hotel Dominique, Tagaytay City
Date : November 14 & 15, 2019
November 14, 2019 started the two-day Regulators’ Forum, hosted by PICPA
Cavite Chapter which was held at Hotel Dominique. PICPA Lipa was
represented by Ms. Rosallie E. Balhag and Ms. Lindsey N. Eje. The Forum was
composed of seven (7) technical sessions wherein the first three was discussed
on the first day. Ms. Ma. Elma I. Ame, being the first speaker, started the
discussion on the salient features of the revised corporation code and updates
on new SEC circulars. It was followed by Mr. Dennis Malco, who enumerated
and explained the updates from the Financial Reporting Standards Council. The
last technical session was about the updates from the Insurance Commission
as shared by two (2) speakers namely, Ms. Maria Teressa C. Absalon and Ms.
Maria Angela M. Villasana. Their session was divided into four subtopics which
include the New Regulatory Framework, IFRS 17 Insurance Contracts,
Accreditation of External Auditors and Quality Audit findings on HMOs and
other updates. The first day technical sessions were very productive and
beneficial.
On the second day of the Regulators’ Forum, which was attended by Mr.
Christian E. Garcia and Mr. Jemuel Orense, the remaining four technical
sessions were discussed. These sessions were all about updates from different
industries namely and respectively, Bangko Sentral ng Pilipinas, Philippine
Deposit Insurance Commission, Auditing and Assurance Standards Council and,
Securities and Exchange Commission. The first session of the day was tackled
by two speakers Mr. Everick Mikhail L. Sungitan and Ms. Anabelle O. Layug,
who shared their knowledge about the role of external auditors in promoting
good governance in the financial system. On the other hand, the
complimentary roles of bank regulators and external auditor were added to
the discussion of the next session regarding PDIC updates as discussed by Mr.
Dennis Y. Abiera and Mr. Erickzon M. Janda. The fifth speaker of the day for
AASC updates was Mr. Leonardo Cuaresma Jr. Lastly, the seventh technical
session was discussed by Ms. Fideles D. Pe Benito and Ms. Pearl Ivy S. Padua.
Relevant topics related to the rules and regulations, memorandum circulars
issued in 2018 and 2019, updates on accreditation, procedures on the
evaluation of FS, and SEC common and pervasive findings on the review of AFS.
The event ended well just like the first day. The attendees became more aware
of the new updates coming from these different industries and thus, was a
fruitful opportunity for all of them.
Event : CPD SEMINAR 102: DESCRIPTIVE AND DIAGNOSTIC
ANALYTICS WORKSHOP FOR SMES THRU EXCEL
Venue : RB Alvarez Accounting Office, Sabang, Lipa City
A seminar was prepared by PICPA Lipa last November 16, 2019 at RB Alvarez
Accounting Office providing a workshop for its participants regarding advanced
excel and its application in business. It was entitled “CPD Seminar 102
Descriptive and Diagnostic Analysis Workshop for SMEs through EXCEL”,
informatively discussed by Mr. Rodel Sarmiento. Several participants coming
from different industries were present including the interested senior and
junior staff of RB Alvarez Accounting Office.
Event : 74TH PICPA ANNUAL NATIONAL CONVENTION
LAOAG 2019
Venue : Centennial Arena, Laoag City
Date : November 20-23, 2019
The 74th Annual National Convention of Philippine Institute of Certified Public

Accountants was held at Laoag City, Ilocos Norte from November 20 to 23,
2019. Being one of the most awaited annual event of the organization, most of
the chapters from all the regions were present including PICPA Lipa. Various
activities, meetings and session were held discussing highly relevant issues and
updates affecting the field of accountancy, both the academe, industry and
professional practice. The events lined up were Sectoral Forum, Chapter
Presidents’ Conference at Sola Hotel and numerous Technical sessions in
Centennial Arena. Moreover, a very lively fellowship night was celebrated at
Sola Hotel during the first day. Hon. Michael Marcos Keon, Laoag City Mayor,
was the guest of honor, turned over the key of the City to express his gratitude
and welcome the participants from different regions. The participants were all
elated to the very hospitable gesture of the City Mayor.
Awarding ceremonies for national and local honors was also held to recognize
the members’ and chapters’ outstanding achievements made for the love of
PICPA in FY 2018-2019. PICPA Lipa was awarded the Outstanding Chapter, its
third title for three consecutive years in a row. We were also given special
citation of GARCA for the 1st Quarter of FY 2019-2020. The 74th ANC has
successfully ended with so much fun and memories.
Event : 5th REGIONAL COUNCIL MEETING
Venue : Chowking, Laoag City
Last November 22, 2019, the 5th Regional Council Meeting was held at
Chowking, Laoag City. Different chapters from this region took this opportunity
to share updates and notify the whole team on certain issues and concerns for
them to resolve as a whole. Notably, the International Conference in South
Korea on May 1-5 was unanimously approved to be hosted by our chapter in
coordination with STaR. Moreover, the council discussed other upcoming
events prior to the international conference. (Kindly check with Ma’am Salie
for other updates on the meeting. Thanks)
Event : 5th MONTHLY MEETING
Venue : Seafood Island, Vigan, Ilocos Sur
The 5th Monthly Meeting was conducted last November 23, 2019 at Seafood
Island, Vigan, Ilocos Sur. The Officers finalized the activities that our chapter
will be having for the month of December on specific dates and venue for each
event as well as the name of the activities and the target attendees. This
include seminars like LGAO Summit to be held on December 6 at La Salle
Dasmariñas, NACPAE at Laguna on the 7th, CPD 103: Ethics and Good
Governance at LCC on the 14th and CPD 104: Mastering Withholding Taxes on
December 21. Other activities were also planned like the PICPA Officers
Caroling on December 12, Gift giving as part of our CSR on the 20th and
Christmas party to be celebrated on December 21. Our 6th Monthly Meeting
was also planned to be carried out on December 14.

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ACTIVITY REPORT

DATE EVENT/VENUE KEY RESULTS AREA

The 74th Annual National Convention of Philippine Institute of Certified Public

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