2015 Roadmap ACCOUNTANCY of the P R O F E S S I O N

NLV-JELV

SINCE

2006

2006

NLV-JELV

INSTITUTIONALIZATION OF ACCOUNTANCY PROFESSION

NLV-JELV

PRC BOA, Quality

Assurance Review

PICPA, ACPAPP, ACPACI, nACPAE, GACPA

Publicly listed companies, Banks,

Insurance Companies,

Foundations & NSNP, NGOs &

other companies

COA, FRSC, AASC, PIC,

IAS

FINEX, MAP, PAMA

International Accounting Firms, IFAC, CAPA, AFA

CHED, RQAT, Schools,

Colleges & Universities

offering Accountancy,CP

D Providers

Accounting Students,

JPIA

SEC, BIR, BSP, OIC, CDA, ERC

Public

Practice Sole Practitioners

Accounting Firms

Financial Advisors/

Consultants

Commerce

& Industry CFOs

Chief Accountants

Accountants

Education Deans

Dept. Heads

Accounting Faculty

Government Accountants in NGAs,

LGUs, GOCCs, COA

Auditors

International

Education

Accounting

Standards

International

Auditing and

Assurance

Standards

(IAASs)

International Financial

Reporting

Standards

(IFRSs

International

Public

Sector Accounting

Standards

(IPSAS)

OVERVIEW OF THE ACCOUNTANCY PROFESSION

International

Ethics

Standards

(IESs)

Internal

Auditing

Standards

Quality

Assurance

Code of

Good

Governance

for the

Profession

NLV-JELV

A non stock, non profit , non government

organization that advocates good corporate

governance reforms and believes in making

governance a shared responsibility.

Its ultimate aim is to maintain a

cutting edge and international

recognition for our country.

NLV-JELV

Institutionalized

Proficient

Compliant

Initiated

HALL OF FAME

NLV-JELV

Good Governance

Best Practices Principles into the Practice of

Different Professions

NLV-JELV

INSTITUTIONALIZATION OF ACCOUNTANCY PROFESSION

NATIONAL DEVELOPMENT

INTERNATIONAL RECOGNITION

NLV-JELV

2006

Institutionalized

Proficient

Compliant

Initiated

HALL OF FAME

Attained break-through results across all perspectives and have imbibed a strategy-focused culture responsive to stakeholders

Fine-tuning strategy and capacitating the Office of Strategy Management as the recognized unit to undertake the initiatives of strategy execution

Worked with BOA and brought strategy execution on the level of PICPA chapters, and developed mechanisms to align strategy alignment and monitoring

Responded to the call to come up and adopt a Roadmap for the Profession.

NLV-JELV

PROJECT KICK-OFF

ROADMAP DESIGNED INITIATED

COMPLIANCE WITH

PGS INITIATIVES

GIVEN THE ISA

INITIATED &

COMPLIANT

RECOGNITIONS

ATTAINED

PROFICIENCY LEVEL

COMPLETED

BASELINE

ASSESSMENT

THE GOAL:

PGS

INSTITUTIONALIZATION

MILESTONES

NLV-JELV

VISION MISSION CORE VALUES

NLV-JELV

VISION A dynamic force towards

national prosperity and

excellence with a global

perspective.

NLV-JELV

MISSION The Accountancy Profession, being

in the forefront of all activities

related to the economic growth and

development of the country and

attainment of national growth and

objectives , commits to implement

the Code of Good Governance for

the Professions in the Philippines.

NLV-JELV

Build a growing pool of

accountants who are dynamic,

proactive, responsive and

innovative leaders

1 G

oal

NLV-JELV

Direct the Accountants toward a higher

level of competence in their field of work

and strict adherence to the code of

conduct , and in this regard, to have

ethical commitment , ethical awareness

and ethical competency

2 G

oal

NLV-JELV

Provide a culture of excellence so that

accountants could develop strong values

of commitment, rationality, expertise and

responsibility.

3

Goal

NLV-JELV

CORE VALUES Service To Others

Integrity

Professional Excellence

Competence

Innovation

Solidarity

Teamwork Spirituality

NLV-JELV

2009

Pathway Journey of the Accountancy Profession

Proficient STAGE in

NLV-JELV

SEPTEMBER 2014

NLV-JELV

PROJECT KICK-OFF

ROADMAP DESIGNED INITIATED

COMPLIANCE WITH

PGS INITIATIVES

GIVEN THE ISA

INITIATED &

COMPLIANT

RECOGNITIONS

ATTAINED

PROFICIENCY LEVEL

COMPLETED

BASELINE

ASSESSMENT

THE GOAL:

PGS

INSTITUTIONALIZATION

MILESTONES

NLV-JELV

A C C O U N T A N C Y P R O F E S S I O N | P E R F O R M A N C E R E P O R T

The accountancy profession, being in the forefront of all activities related to the economic growth and development of the country and attainment of national growth and objectives, commits to implement the Code of Good Governance for the Professions in the Philippines. Towards this end, the Accountancy Profession shall endeavor to: Build a growing pool of accountants who are

dynamic, proactive, responsive, and Innovative leaders in the advancement of knowledge and the improvement of the Quality of life;

Direct the accountants towards a higher level

of competence in their field of work and strict adherence to the code of conduct, and in this regard, to have ethical commitment, ethical awareness and ethical competency; and

Provide a culture of excellence so that

accountants could develop strong values of commitment, rationality, expertise, and responsibility.

The Accountancy Profession by 2015: A dynamic force towards national prosperity and excellence with a global perspective.

MISSION VISION

Service to Others Integrity Professional Excellence/ Competence Innovation Solidarity and Teamwork Spirituality

CORE VALUES

A C C O U N T A N C Y P R O F E S S I O N | P E R F O R M A N C E R E P O R T

The accountancy profession, being in the forefront of all activities related to the economic growth and development of the country and attainment of national growth and objectives, commits to implement the Code of Good Governance for the Professions in the Philippines. Towards this end, the Accountancy Profession shall endeavor to: Build a growing pool of accountants who are

dynamic, proactive, responsive, and Innovative leaders in the advancement of knowledge and the improvement of the Quality of life;

Direct the accountants towards a higher level

of competence in their field of work and strict adherence to the code of conduct, and in this regard, to have ethical commitment, ethical awareness and ethical competency; and

Provide a culture of excellence so that

accountants could develop strong values of commitment, rationality, expertise, and responsibility.

The Accountancy Profession by 2015: A dynamic force towards national prosperity and excellence with a global perspective.

MISSION VISION

Service to Others Integrity Professional Excellence/ Competence Innovation Solidarity and Teamwork Spirituality

CORE VALUES

Accreditation, CPD

Learning, QAR &

Inspection

2015

FOCUSED STRATEGY

STRATEGIC OUTCOME

Increase in the number of compliant

companies with PFRS by 50% of 500

Target corporations by 2015.

2013 - 50

2014 - 75

2015 - 125

1

NLV-JELV

STRATEGIC OUTCOME

Increase the number of accredited Auditors

subjected to QAR Through SEC Review

& Inspection from 0 to 100 by 2015

2

2014 - 10

2015 - 90

NLV-JELV

STRATEGIC OUTCOME

Increase the number of practitioners

Trained for Quality Assurance

From 0 to 300 by 2015.

3

2014 - 30

2015 - 270

NLV-JELV

CORE PROCESS STRATEGIES

NLV-JELV

Promote collaboration of

Individual practitioners

(combination of professional practice)

for QAR purposes.

2014 - 3

2015 - 5

1

CORE PROCESS STRATEGIES

NLV-JELV

Audit practitioners (per chapter)

establish a competitive range of

audit fees to improve service delivery

2014 - 8

2015 - 12

2

CORE PROCESS STRATEGIES

NLV-JELV

Development of QAR guidelines

for cascading to the

Chapters and other Sectors

of the Accountancy Profession

2014 – Done

2015 – Done

3

CORE PROCESS STRATEGIES

2013 – Done

NLV-JELV

Cascade the developed

QAR guidelines to the

Chapters

2015 – 12

4

CORE PROCESS STRATEGIES

2014 - 8

SUPPORT

PROCESS

Install an integrated database

system of all practitioners

2014 – 100%

2015 – 100%

2013 – 100%

NLV-JELV

Enhance training for all

professional accountants in view

of the changing landscape in

corporate finance.

SUPPORT

PROCESS

2014 – 200

2015 – 300

2013 – 100

NLV-JELV

SUPPORT

PROCESS

Tap funding sources from

government, business, and the

donor community to support QAR

2014 – 2M

2015 – 3M

2013 – 1M

NLV-JELV

Service to Others ●Integrity ● Profession Excellence / Competence ●Innovation ●Solidarity and Teamwork ●Spirituality

The Accountancy Profession by 2015: A dynamic force towards national

prosperity and excellence with a global perspective.

STRATEGIC

OUTCOME

VISION

CORE

PROCESS

MISSION

Audit practitioners establish a

competitive range of audit fees to improve

service delivery

Promote collaboration of

Individual practitioners for QAR purposes

Enhance training for all

professional accountants in

view of the changing

landscape in corporate

finance.

SUPPORT

PROCESS

Install an integrated database system of all

practitioners

The accountancy profession, being in the forefront of all activities related to the economic

growth and development of the country and attainment of national growth and objectives,

commits to implement the Code of Good Governance for the Professions in the Philippines.

Increase in the number of compliant companies with PFRS by 50% of 500 Target corporations by 2015.

Increase the number of accredited Auditors subjected to QAR Through SEC

Review & Inspection From 0 to 100 by 20115

Increase the number of practitioners Trained for Quality Assurance

From 0 to 300 by 2015.

Tap funding sources from

government, business, and

the donor community to

support QAR

CORE

VALUES

Reliable and Credible Financial Statements – Instrument for proper tax payment & statutory compliance & instrument for sound business decisions

Development of QAR

guidelines for cascading

to the Chapters and

other Sectors of the

Accountancy Profession

Cascade the developed QAR guidelines to the

Chapters

NLV-JELV

P Strategic Outcome BL ’13 ’14 ’15

OU

TCO

ME

A 1

Increase in the number of compliant companies with PFRS by 50% of 500

target corporations by 2015

55 50 75 125

B 2

Increase the number of accredited

auditors subjected to QAR through SEC

Review & Inspection from 0 to 100 by

2015

0 0 10 90

C 3

Increase the number of practitioners

trained for Quality Assurance from 0 to 300 by 2015

0 0 30 270

The Accountancy Profession Breakthrough

2015 Breakthroughs:

A dynamic force towards national prosperity

and excellence with a global perspective

CORE PROCESS STRATEGY

Strategic Objective Strategic Measure BL 2013 2014 2015 Initiative

D

Promote collaboration of individual

practitioners for QAR purposes

# of active practitioners who

entered into collaboration

agreement

0 1 3 5 PICPA Chapters & ACPAPP

E

Establish competitive

range of audit fees

for practitioners to

improve service

delivery

# of chapters with

established audit fee

rates

0 4 8 12 Benchmark audit fee

rates (by chapter)

F

Develop QAR

guidelines for

cascading to the

Chapters & the

Public Practitioners

Developed

guidelines DO

NE

DO

NE

DO

NE PICPA

G

Cascade the

developed QAR

guidelines to the

Chapters

# of chapters 0 4 8 12 PICPA Chapter &

ACPAPP

NLV-JELV

SUPPORT PROCESS STRATEGY

Strategic Objective Strategic Measure BL 2013 2014 2015 Initiative

H

Install an integrated database system of all

active practitioners

# of active practitioners in the

database

0 100

%

100

%

100

%

PICPA Chapters, BOA, SEC, MOA

I

Enhance training for all professional

accountants in view of the changing landscape in

corporate finance

# of professional accountants trained

0 100 200 300 PICPA, ACPACI (CFO

Forum)

J

Tap funding sources from government,

business and the donor community to support

QAR

Amount sourced/generated

1M 2M 3M Resource generation through partnerships

NLV-JELV

CORE PROCESS STRATEGY

Strategic Objective Strategic

Measure BL 2013 2014 2015 Initiative

D

Promote

collaboration of

individual

practitioners for QAR

purposes

# of audit

practitioners who

entered into

collaboration

agreement

0 1 3 5 PICPA Chapter &

ACPAPP

E

Audit practitioners

establish a

competitive range

of audit fees to

improve service

delivery

# of chapters with

established audit

fee rates

0 1 3 5 Benchmark audit fee

rates (by chapter)

F

Development of

QAR guidelines for

cascading to the

Chapters & other

Sectors of the

Accountancy

Profession

DONE

N/A

N/A

P R O F E S S I O N

Institutionalization ACCOUNTING Of the

LET US MAKE THIS HAPPEN!

NLV-JELV

2015 Roadmap ACCOUNTANCY of the P R O F E S S I O N

NLV-JELV

NLV-JELV

Thank you!