POSITION PAPER ON COMPENSATION FOR PROFESSIONAL ACCOUNTANTS

IN PUBLIC SECTOR

The PICPA was founded in 1929 and is the accredited professional accountancy
organization by the Philippines Professional Regulation Commission (PRC).
Membership of the institute is mandatory for all professional accountants in the
jurisdiction. The institute has a national office headquarters located in Manila and
supports field offices throughout all regions of the country. It is primarily responsible
for: (i) promoting and maintaining high professional and ethical standards among
accountants by adopting a Code of Ethics for its members; (ii) developing and
improving the accountancy education; (iii) protecting the CPA designation; and (iv)
carrying out the fact-finding component of investigations upon the delegation and
approval of the Professional Regulatory Board of Accountancy and the PRC.

Executive Summary

Accounting as a profession plays a vital role towards promotion of good governance

of a country through measurement, recognition, analysis and disclosure of financial
and key non financial information.

In Philippines, one is considered an accountant after passing the certified Public

Accountant's Licensure Examination conducted by the Board of Accountancy under
the supervision of the Professional Regulations Commission (PRC) and thereafter
register with the Philippine Institute of Certified Public Accountant (PICPA). PICPA as
the statutory body in Philippines tasked with regulating the accountancy profession
enforces professionalism and code of ethics within its members.
https://www.ifac.org/about-ifac/membership/members/philippine-institute-certified-pub
lic-accountants
https://www.finduniversity.ph/majors/bs-in-accountancy-philippines/