Tuesday, November 13, 2007 Need to boost competence of Pinoy CPAs cited By Joy Romares-Sevilla
TO IMPROVE the performance of Filipino certified public accountants (CPAs), a professor at the De La Salle University in Manila cited strategies on how to upgrade their competence.
Tereso S. Tullao Jr., who discussed about the accounting services at a discussion forum on services industry at the Waterfront Insular Hotel last week, said there is a need to continue professional education which will aid the development of professional competence of practitioners in finance and accountancy.
Based on his research, Tullao said that recent data show there are 73,375 registered CPAs in the country, while according to the National Statistics Office (NSO), as of March 2005, there are approximately 9,997 personnel working for 101 firms under the accounting services industry.
Tullao said there is an increasing supply of Filipino accountants.
"The increasing supply of CPAs is brought about by growing demand for professional accountants inside and outside the country," he said, adding that the registered businesses with the Securities and Exchange Commission (SEC) have increased two folds from 1984 and therefore need a corresponding increase in the number of accountants.
However, Tullao failed to give the exact number of registered businesses at present.
