ACCOUNTANCY IN THE PHILIPPINES

March 17, 1923 – Act No. 3105 – the first law on accountancy in the Philippines was passed
1967 – Republic Act 5166 – Accountancy Act of 1967 was passed
1975 – The Revised Accountancy Law was passed under Pre3sidential Decree 692
2004 – Republic Act 9298, the Philippine Accountancy Act of 2004 was passed

Some well known early CPAs:

Don Vicente Fabella – the first Filipino CPA the US, founder of Jose Rizal Unikversity
Dr. Nicanor Reyes – founder and first president of FEU – Far Eastern Universsity
Belen Enrile –Gutierres – first Filipina CPA
Jaime Hernandez - the first Auditor General of the Commission on Audit
Manuel Villar – CPA, former Speaker of the House of Representatives, former Senate President,
2010 presidential candidate, owner of many real estate companies (like the Camilla Homes)
Washington sycip – CPA, founder of SGV – Sycip Gorres and Velayo, the leading accountancy
firm in the Phil
Jose Diokno – CPA, former senator and secretary of Justice
Alberto Romulo – CPA, former senator, executive secretary and secretary of foreign affairs
Andres Soriano – CPA, founder of San Miguel

Accounting associations in the Philippines:

PICPA – Philippine Institute of Certified Public Accountants – the biggest association of CPAs
ACPAE – Association of CPAs in Education
ACPACI – Association of CPAs in Commerce and Industry
GACPA – Government Association of CPAs

Study this and the following, I will give you a quiz next meeting:
Career Opportunities in Accountancy (4)
Branches of Accounting (11)
Users of Accounting Information (7)
Types of Businesses (7)
Forms of Business Organization (3)