Year: 2016

Reduce the financial-statement disclosures

Posted on March 16, 2016 by | 0 Comments
(First of two parts) Financial statements in the Philippines for companies reporting under Philippine Financial Reporting Standards (PFRS), or its little brother, PFRS for small- and medium-sized enterprises (SMEs) are notorious for the horrendous disclosures attached to the financial statements.…
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Auditing the auditors (Part 1)

Posted on February 25, 2016 by | 0 Comments
In the recent years, auditing the auditors has become a global development in the accountancy profession amid news of inappropriate financial reporting or accounting scandals happening around the world. A number of national professional regulators have responded accordingly to these…
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PCHC’s Check Image Clearing System & Others

Posted on February 3, 2016 by | 0 Comments
The Philippine Clearing House Corporation will implement Check Image Clearing System (CICS) starting middle of 2016, specifically in March 2016. In connection with this, we previously written an article entitled “Banks will no longer accept checks with erasure/alteration effective January 4,…
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‘I am Acct’ (Part 2 of 2)

Posted on February 3, 2016 by | 0 Comments
Last week I discussed in this column the interesting, if not puzzling, situation why accountants prefer to profess their professional attainment by putting their title CPA at the end of  their names and not in front of their names.  We…
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‘I am Acct’ (Part 1 of 2)

Posted on January 28, 2016 by | 0 Comments
I often wonder how medical doctors got to use their  titles of  “Dr.”; attorneys or lawyers their titles of “Atty.”; engineers  their titles of “Engr.”; architects their titles of  “Arch.”; and the other professionals or government officials with their must-have designation…
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