THURSDAY, SEPTEMBER 20, 2012 PHILIPPINE DAILY INQUIRER B2 -1

PHILIPPINE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

COMMERCE & INDUSTRY SECTOR
ASSOCIATION OF CPAs IN COMMERCE & INDUSTRY
2012 ANC SUSTAINING INTEGRITY
IN A CHALLENGING ENVIRONMENT tage of the power of social networking, develop re- by supporting its accounting scholars. We start important topics such as code of ethics, fraud

P
ICPA and ACPACI, the countrys
biggest organization of certified ferral programs and to tap other organizations. helping them on their third year until they gradu- management, and the like. If we are checking on
public accountants are holding The organization has been continuously holding ate, Arago said, So, we have 20 graduates every people within our companies, we ourselves also
their joint annual convention in Naga seminars for its members so members are constant- two years. have the responsibility to check ourselves so we
City where it recently earned the re- ly updated of the changes in the industry. According to Arago, ACPACI is always moving would not step on the line of losing our own in-
spect and trust of every Filipino on how ACPACI has also been into social responsibility forward and always checking itself with talks on tegrity.
governance should be emulated.
Being an accountant is a position of
trust, said Rebecca Arago, president of the
Association of Certified Public Accountants
in Commerce and Industry (ACPACI).
This years convention highlights the chal-
lenges accountants face in the changing envi-
ronment. ACPACI is the primary sectoral or-
ganization of CPAs in the commerce and in-
dustry sector of the Philippine Institute of
Certified Public Accountants (PICPA).
This years theme is all about preserving
integrity in a profession that is vulnerable
to temptation. Sustaining Integrity in a
Challenging Environment encapsulates
Aragos five-point agenda as this years
president. She believes that accountants
should not be used by the system but in-
stead should use the system.
We should be the last persons to lose in-
tegrity in a company, she said. Accoun-
tants hold so much power in their hands
that if they give in to any little amount of
temptation; they shall bring the whole
company down with them.
Arago said that the changing environ-
ment in accountancy and the different in-
terpretations of the International Financing
Reporting Standards (IFRS) are just few
factors why accountants reliability should
always be in check.
Accountants are so much challenged
with changes in IFRS, tax, and a lot of
things that are happening in the industry,
she said. At the end of the day, you ask
yourself, do I have integrity to do all these
things? It all boils down to you as a per-
son.

Annual Convention
Fittingly enough, ACPACI members are
holding their convention in Naga City, a
place where Interior and Local Government
Secretary Jesse Robredo transformed. And
Robredo was a person who exuded integri-
ty all throughout his life.
The passing of Secretary Robredo made
us ponder and discern what should be our
role as accountants to continuously keep
our integrity intact despite difficulties and
outside pressure from our work, said Cora-
zon Rey, ACPACI chair. It reminds me that
good governance is keeping the faith and
living it up against all odds.
The annual convention is not only an op-
portunity for the members to socialize but
also to learn from the technical sessions.
John Villa of SGV, Ernst & Young is tasked
to talk on the Updates on International Fi-
nancial Reporting Standards (IFRS). Atty.
Victorino Mamalateo of V. C. Mamalateo &
Associates will talk on How to effectively
handle BIR Audits. Alden Christian Basbas
of SAS is tasked to talk about Business In-
telligence. Deputy Commissioner of the
Bureau of Internal Revenue Lilia Guillermo
will discuss BIR Program on Automation
and Information Systems Development for
Taxpayers.
To balance the technical topics is the Lun-
cheon Session on Reaching New Heights
through Good Governance by the advocator
himself, Naga City Mayor John G. Bongat.
The two fellowship nights bring back
memories of the Olympics with the themes
Go go ACPACI Olympics and When Gods
and Goddesses of Olympus visit ACPACI.

Membership
Arago said that ACPACI is aiming to surpass
the 84 additional members last year and en-
courage more of its members to take advan-
B2 -2 PHILIPPINE DAILY INQUIRER THURSDAY, SEPTEMBER 20, 2012

PHILIPPINE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS COMMERCE & INDUSTRY SECTOR

ASSOCIATION OF CPAs IN COMMERCE & INDUSTRY
2012 JOINT ANNUAL CONVENTION
SPEAKERS
HON. LUIS R. VILLAFUERTE
The Avenue Hotel, Naga City Representative, House of Congress
Theme: Sustaining Integrity in a Challenging Environment 3rd District, Camarines Sur
Guest of Honor
September 20-23, 2012 Congressman Luis R. Villafuerte is on his 3rd term as representative of the 3rd District of
Convention Program Day 1 - September 20, 2012 Camarines Sur. At the 15th Congress, he is a member of the Commission on Appointments.
He also serves as the Chairman of the Committee on Labor, Employment and Social Welfare
and Vice-Chair of the Committee on Agrarian Reform and Finance. His legislative output
covers a very wide range of issues and concerns, from agriculture, aquaculture, finance and
trade, education and sports, among others. Villafuerte is a consistent Outstanding Con-
gressman Awardee for eight consecutive terms from 2004 to 2011. He is a seasoned politi-
cian both in the executive and legislative branches of government. Congressman Villafuerte
is an outstanding lawyer who obtained his Associate in Arts and completed his Bachelor of Laws from the University of the
Convention Program Day 2 - Septembr 21, 2012 Philippines. He was conferred Doctoral Degrees, Honoris Causa by the University of Northern Philippines for Doctor of
Laws; Honoris Causa by the Central Bicol State University of Agriculture for Doctor of Agricultural Science; Honoris Causa
by the University of Mindanao for Doctor of Humanities and Honoris Causa by the International Academy of Management
and Economics for Doctor of Philosophy in Management and Political Economy. His achievements both as a professional
and public servant reflects on his many passions and interests - as an author of various books, an organic farmer, a local gov-
ernment administrator, finance and investment banker, as legislator and authority on trade law.
HON. JOHN G. BONGAT
City Mayor
Naga Camarines Sur

Mayor John G. Bongat is the eighth local chief executive of the City of Naga. In May 2010,
Mayor Bongat won overwhelmingly on a platform of leadership by example, further ce-
menting his motto that, Leadership is action, not position. He entered public service as a
city councilor in 2001. A topnotcher member of the Sangguniang Panglunsod for three con-
secutive terms, he has authored hundreds of ordinances and resolutions, making him one of
the most prolific councilors Naga has ever had.
Prior to his becoming an elective official, Mayor Bongat practiced his law profession with
two reputable firms in Makati, before being appointed Corporate Secretary and Assistant
Vice President of Megaworld Corporation. With the belief that those who have less in life
should have more in law, Mayor Bongat devoted much of his time and effort as the National
Director for Legal Aid of the Integrated Bar of the Philippines, providing free legal assistance to fellow Filipinos in need.
Bongat holds a bachelors degree in Political Science from Ateneo de Manila University and went to study law at the Uni-
versity of the Philippines.
MS. LILIA C. GUILLERMO
Deputy Commissioner
Bureau of Internal Revenue

Bureau of Internal Revenue Deputy Commissioner Lilia C. Guillermo is the woman be-
Convention Program Day 2 - September 21, 2012 hind the biggest Information Technology innovations of the BIR funded by the World Bank
assisted tax computerization project. She is the head for Information Systems Group.
To equip her on the IT automation project, Guillermo attended various courses abroad
and participated, studied and observed how government tax systems are implemented.
She attended a comprehensive course on Information Technology (April 1994) at Harvard
University; participated in the Canada-sponsored Cooperation on computerization in tax
administrative operations; observed and studied the IRS Information system moderniza-
tion and operations of the US-IRS Data Processing Centers and the implementation of the
New Zealand Revenue Departments information systems (November 1994).
Guillermo graduated from the University of the Philippines where she completed her Bachelor of Science major in
Statistics in 1977 and her M.S. Industrial Engineering in 1981. She is the recipient of various awards, namely, One of the
most powerful women in IT in the Philippines (July 2003); and First prize award in the Asian Pacific Economic Coopera-
tion (APEC) Digital Opportunity Center (ADOC) competition for her entry Electronic Filing and Payment system (eFPS)
of the BIR (August 2005).

JOHN T. VILLA
Assurance Partner
SGV - Ernst & Young

John T. Villa is an Assurance Partner of SGV-Ernst & Young with over 14 years audit expe-
rience specializing in the airline, mining and power industries. He is a member of EY Global
and Asia Pacific Partner Subject Matter Group for leases and the lead partner for leases, pro-
visions and contingencies of SGVs Accounting Standard Group.
Villa is a regular speaker during PICPA seminars, and sometimes renders speaking en-
gagements to the Philippine SEC when invited. Occasionally, he is an instructor of Ernst &
Young - Asia Pacific Region.
Villa holds a BS Accountancy degree (magna cum laude) from the University of the Philippines, and an MBA degree
from the Asian Institute of Management (major in Finance). He is the President-Elect of the PICPA Southern Metro Manila
Chapter for 2012-2013.
ATTY. VICTORINO C. MAMALATEO
Managing Partner
V.C. Mamalateo and Associates

Atty. Vic Mamalateo, a CPA and a tax lawyer is the founder and managing partner of V. C.
Mamalateo and Associates. He has more than forty years of professional experience in tax
practice, 30 years spent with the Bureau of Internal Revenue retiring as Assistant Commis-
sioner and 10 years as active tax practitioner and Managing Head of the Tax Division, and
later as Senior Consultant of Punongbayan and Araullo-Grant Thornton International.
Mamalateo shares his expertise in taxation by being a Professor of taxation at the UP
College of Laws. Likewise, he is a lecturer and reviewer of taxation at UP and the San Beda
ACPACI BOARD OF DIRECTORS College of Laws. He is an author of various tax books including Value Added Tax in the Philippines (Co-Authored with Atty.
Deoferio); Reviewer in Taxation; Philippine Income Tax; and Taxpayers Rights and Remedies.
Mamalateo completed his Master of Laws (LL.M.) & International Tax Program (Certificate) at the Harvard University
and Master of Business Administration for Practitioners from the University of the East. He holds a Bachelor of Laws from
M.L. Quezon University and Bachelor of Business Administration (Accounting) from the University of Manila.

ALDEN CHRISTIAN A. BASBAS

Sales Director
Rebecca R. Arago Consuelo O. Cadelia Edna L. Constantino Cynthia A. Campos
President Executive Vice President & Secretary & Director Treasurer & Director Ways
SAS Philippines
Director, Professional Development Elections and Scholarships and Means
Alden Christian Basbas leads the Information Management and High-Performance Analytics sales for SAS
Philippines. In this capacity, Mr. Basbas helps companies manage data as a strategic asset and leverage informa-
tion for competitive advantage. Through the use of high-performance analytics, he assists companies gain in-
sights from massive amounts of data in order to drive fast and accurate decisions. Prior to this, he was in-charge of the Financial Ser-
vices Industry Sales where he managed a team of sales executives responsible for selling SAS business analytics solutions to key ac-
counts in the financial services sector. Prior to joining SAS, Mr. Basbas spent several years in IBM Philippines where he managed its
information management software portfolio.

Meynardo M. Mendoza
Director Meetings
Celerina M. Valencia
Director - Social Involvement
Feliciana B. Santos
Auditor & Director - Membership
Jayson Narcisus M Ayson
Director - Fellowship and Sports COMMITTEE CHAIRS & SECRETARIAT

Corazon S. Rey Samuel F. Villacampa Edward "Wowie" Roguel Julian M. Tecson

Annual Convention Special Projects - Global Professional Ways and Means
Cecille C. Carandang Aphat C. Martinez Gina D. Ciolo Ma. Paz V. Malubay Business Challenge & Development
Director Director - Publications & Website Director - Special Projects Ex-Officio Director The Search

Thanks to our sponsors

GOLD SPONSOR SILVER SPONSOR Lawrence M. De Leon Arceli R. Sison Divina J. Tua Nanette N. Tabuac
Meetings Coordination with Fellowship & Sports Publications & Website
PICPA & Chapters

BRONZE SPONSOR

Lourdes B. Dumigpi Ruzzen C. Alfonso Bello A. Lumintegar Winnie G. Cuico Fritz Kein T. Ortiz
Social Involvement Elections & Scholarship Membership Executive Director Secretariat in-charge
THURSDAY, SEPTEMBER 20, 2012 PHILIPPINE DAILY INQUIRER B2 -3

ABOUT THE THEME

Sustaining Integrity in a
Challenging Environment
By Nanette N. Tabuac
SOMETIMES, doing the right thing is the
hardest thing to do. Achieving integrity is
challenging for an individual, but it is more
difficult for an organization, and more so
sustaining it.
From the Latin word integritas which
means purity, undiminished or unimpaired
condition of an object or whole, integrity,
the root word, has to do with the wholeness
of a man.
Integrity completes us
Its a fundamental principle that pro-
motes honesty, truthfulness, fairness, con-
sistency, compliance with laws, and un-
selfishness. Integrity is discerning what is
right and what is wrong, and acting on
what has been discerned. It is having this
unwavering belief of doing the right thing
at the right time and for the right reason, no
matter how difficult it is, how dangerous it
is, or how unpopular it is with others or
with the majority. Self-interest and person-
al gain can never take precedence over the
interest of the general good.
Like a navigational compass that always
points to the north, integrity commands
that an individuals moral compass should
always point to the right. Integrity cannot
be abstract. It must be shown. This could
involve standing up for something, experi-
encing and overcoming adversity arising
from personal, professional, and social ob-
stacles. A person of integrity remains stead-
fast to his/her commitment of doing what
is morally right, even at personal cost. It is
at these challenging moments that ones in-
tegrity is truly tested.
As ACPACIANs, we are called to demon-
strate and to sustain our integrity across all
our personal, social and professional
spheres and activities. We should adhere to
the highest ethical standards that our orga-
nization, ACPACI, espouses, and the com-
mitments, strategies, and policies that it
makes and aspires to achieve these ethical
standards.
As ACPACIANs, we believe that integrity
is fundamental in building business trust
and confidence. We believe that conces-
sions and moral compromises in the pursuit
of personal interest undermine public trust.
Our contribution to our profession is not
only the knowledge of finance and figures
but also integrity the integrity to provide
meaningful, reliable, and timely informa-
tion needed in making financial decisions
that support the success of our companies
and of our economy as a whole, and the in-
tegrity to provide impartial advice we offer
to our clients and the organizations which
we belong.
We are an organization that instills the
culture of sustained integrity.

ACPACI forms Cebu Chapter

THE INDUSTRY CPA is a Standout the
theme of the newly-organized ACPACI Ce-
bu Chapter concludes the vision of ACPACI
to spread out its wings and reach more
CPAs in the Visayas.
Last September 14, 2012, ACPACI Na-
tional President Rebecca R. Arago and AC-
PACI EVP Consuelo O. Cadelia graced the
first induction and oath taking ceremony of
the Board of Directors, Officers and new
members of the ACPACI Cebu Chapter at
the Crown Regency Hotel, Cebu City. Tak-
ing the lead as its President is Grace Socor-
ro Larcea of Kimwa Construction & Devel-
opment Corp. (LUA Group of Companies).
ACPACI/ B2-4

My warmest greetings to the officers and
members of the Association of Certified Public Ac-
countants in Commerce and Industry and the
Philippine Institute of Certified Public Accoun-
tants, as you hold your Joint Annual Convention.
The accounting profession is integral to
the advancement of any developing nation.
The Philippines is proud to have an empow-
ered workforce that consists of professionals
like you, who contribute greatly to our con-
tinued development. Commerce and industry foster progress just
as knowledge and skills breed empowerment; the expertise you
lend your sector helps translate the blueprint for sustained and in-
clusive growth into an actual collective enterprise. May you have a
productive assembly: May this event equip you with greater com-
petitiveness, excellence, and integrity, you expand your horizons
and evolve to meet the standards of todays challenging milieu.
The revitalization of our country is a responsibility that rests on
all of our citizens.
With everyones active participation, we can forge ahead, hav-
ing turned this country in the right direction and revived its dis-
tinction in the global community.
Messages
Welcome officers and members of the dis-
tinguished national associations of certified
public accountantsthe ACPACI and the
PICPA. It is very encouraging that in our pre-
sent difficult and conflicted times, the pro-
fessional accountant should find himself at
the forefront of overcoming challenges that
confront the accounting profession. You, by
your presence, calling, training and orienta-
tion, have demonstrated to be most qualified
in providing solutions to many of our social, financial, economic
and even moral dilemma we are confronted with in these trying
times.
By your unquestioned adherence to your professional princi-
ples, especially truthfulness, accountability and zeal to high pur-
pose, you show our nation the manner of action and constancy of
purpose that will guide the path for our future.
It is therefore with great expectations that I and our people look
to you and this annual convention -- on how we can uphold the one
value we hold dearest Sustaining Integrity In A Challenging Envi-
ronment -- for our people and our nation.
Welcome to all of you!
My sincerest congratulations and
warmest welcome to the officers and mem-
bers of the Association of Certified Public Ac-
countants in Commerce & Industry (AC-
PACI) and the Philippine Institute of Certi-
fied Public Accountants (PICPA) for holding
your joint Annual Convention with the
theme, Sustaining Integrity in a Challeng-
ing Environment here in our city.
Your theme speaks well of the call of the
times which places integrity as an important element in any hu-
man undertaking, particularly in the practice of your profession
and in the advancement of good governance towards a higher lev-
el of nation-building where moral excellence and sense of honesty
are expected to prevail, no matter how difficult present challenges
are.
With your organizations good name and foundation and proven
expertise in the field of accounting, as well as your strong commit-
ment to serve the country better, I am certain that you will have a
fruitful, memorable and rewarding joint annual convention.
Dagos po kamo sa Maogmang Ciudad nin Naga!

BENIGNO S. AQUINO III (Sgd) HON. JOHN G. BONGAT (Sgd)

President
Republic of the Philippines
In July 2012, the International
Accounting Education Stan-
dards Board (IAESB) issued its
Final Pronouncement on In-
ternational Education Stan-
dard (IES) 7. In IES 7, IAESB
declared that Lifelong learn-
ing represents all learning and
development activity, formal
or informal, undertaken with
the aim of enhancing knowledge, skills, values, ethics,
and attitudes from personal, civic, social, employment-
related perspectives. In addition, IAESB pronounced
that lifelong learning has relevance to all professional
accountants, irrespective of whether they are involved
in accounting fields or other areas.
Although Lifelong learning is the personal responsi-
bility of every Certified Public Accountant (CPA) in all
sectors of the accountancy profession, the Philippine
Institute of Certified Public Accountants (PICPA) sub-
scribes to the idea that PICPA together with its partner
sectoral organizations like the Association of Certified
Public Accountants in Commerce and Industry (AC-
PACI), must foster Lifelong learning and facilitate ac-
cess to Lifelong learning for CPAs.
This 2012 National Convention of ACPACI is an op-
portunity that ACPACI is giving to the CPAs of the coun-
try to have access to Lifelong learning. PICPA is grate-
ful to ACPACI for its commitment to Lifelong learning
by continuously holding yearly conventions for the
CPAs.
I extend my congratulations and thanks to the men
and women behind this convention, most especially to
its Convention Chair Corazon S. Rey.
May our lives be enriched by 2012 National Conven-
tion of ACPACI.
God Bless ACPACI! God Bless PICPA!
JOSEFE C. SORRERA-TY (Sgd)
PICPA National President
HON. LUIS R. VILLAFUERTE (Sgd)
Congressman 3rd District, Camarines Sur
I am extremely delighted to
see all of you in our Annual
National Convention.
I believe that professionals
like us should always be up-
dated with the current
changes in our environment
and in the practice of our Ac-
counting profession, as we
make major decisions for our
Company. We should not lim-
it ourselves to attending seminars, but should also ac-
tively participate in different fora, events, and conven-
tions to widen and deepen our knowledge of the differ-
ent facets of our profession. We are expected to be life-
long learners to ensure that our clients and employers
receive competent professional service from us.
Apart from knowledge, ethics and integrity play an
important role in making accounting and financial de-
cisions, because money is something where greed and
deception can easily come into play. Many companies
have lost their business success through unethical
practices.
This years theme of Sustaining Integrity in a Chal-
lenging Environment brings us back to this: know
what is right and do what is right at all times, without
fail. Our reputation differentiates us from the others.
It is our unique selling point. It is the foundation of the
trust that the business community, regulators, and the
public expect and require from us. We cannot, and
must not, lose that trust because in our profession, our
integrity and reputation are highly-valued and they are
our non-negotiables.
May this Convention give us better insights as to the
importance of our Profession, and help us realize the
importance of our integrity as Accountants.
Dagos po sa Maogmang Naga!
REBECCA R. ARAGO (Sgd)
ACPACI President
City Mayor, Naga City
As we come together for this years convention, let us
all be reminded of the values we hold in high regard as
CPAs, particularly the ideals of integrity, responsibility
and accountability. This years theme of Sustaining In-
tegrity in a Challenging Environment is a most timely
reaffirmation of our commitment in upholding honesty
and uprightness in the pursuit of our profession.
The changing landscape of our profession presents
many challenges. However, by remaining steadfast to
our values of discipline, professional excellence and
social responsibility, we can maintain the essence of
our commitment to the advancement of the accounting
profession. Let us remember that, as both local and
global business continues to evolve and advance, so
should we continue to grow and innovate. In a chal-
lenging environment, we must also, by necessity, chal-
lenge ourselves to reach for greater heights. I call upon
our colleagues in the Commerce and Industry sector to
work together to live up to this years PICPA theme of
Ethics and Excellence.
GERARD B. SANVICTORES (Sgd)
Vice President for Commerce and Industry, PICPA
My warmest welcome to
my fellow delegates as we
start our three-day confer-
ence in the city that
SMILES to the world, Na-
ga.
Maogmang Naga was
then known as Ciudad de
Nueva Caceres. It was the
3rd city established by the
Spanish colony after Cebu
and Manila. As such, Naga bloomed to be the seat of
Catholicism housing 11 historical churches. Being a
Nagueo by affinity, I would like each one to savor the
hospitality of Naga and the Bicolanos, in general. Our
one and half day tour will enable us to visit historical
landmarks, see beautiful wonders of nature, patronize
abaca products, and eat with gusto, Bicol delicacies
pili nuts, toasted siopao, laing and kinalas mami.
Your convention committee endeavored to select
various topics that will make learning a fun experience.
As we converged for this conference we bring you rele-
vant financial reporting standards and their practical
application, how to effectively handle regulatory agen-
cy audits, discuss business intelligence solutions to ex-
pedite decision making and updates on BIR automa-
tion and how it can improve the taxpayers concerns.
Our convention theme Sustaining integrity in a chal-
lenging environment, is very timely, as we also invited
the City Mayor to talk about Reaching new heights
thru Good Governance.
In retrospect, the recent national event made us
ponder and discern what should be our role as accoun-
tants in continuously guarding or keeping our integrity
intact despite difficulties and outside pressure from
our work. It reminds us that good governance is not
just a by-word it is how we live it despite all odds.
Cheers for a fruitful convention. Dios Mabalos!
CORAZON S. REY (Sgd)
Chairperson
2012 PICPA C&I and ACPACI Convention Committee
B2 -4 PHILIPPINE DAILY INQUIRER
Experiencing the rich and
poignant Bicol heritage
By Marlet D. Salazar
N
AGA SMILES to the world, an icon-
ic term to describe how the govern-
ment and its people endeavored to
transform as a premier city upholding trans-
parency and good governance at work.
Naga is what many people call the gateway to the
whole of the Bicol region. Its where all the activities
kick off and connects the different regions.
But the passing of Interior and Local Government Sec-
retary Jesse Robredo put the city in the limelight; how it
was transformed into a progressive and model city; and
how its people have become one of the most admired in
the country churning out one hero after another.
September is a special month for Naguenos because
its the feast of Our Lady of Penafrancia.
The delegates of ACPACI Annual Convention will
THURSDAY, SEPTEMBER 20, 2012
have a glimpse of the festive mood as they are currently
in the city, at Avenue Hotel, for the three-day event.
ACPACI chair Corazon Rey said that they chose Naga
as the destination for this years convention because
they want to experience its rich heritage and the very-
much talked about tourist attractions. The convention is
also a venue for the members to take a break from their
work, network with other CPAs, and just have fun.
Naga was founded by the Spaniards in 1575. Proofs
of Spanish influence are the number of churches and
monasteries within the city alone. Theres the Naga
Metropolitan Cathedral inaugurated on the same year
Naga was officially established. And there are the Our
Lady of Penafrancia Shrine, the Church of Mount
Carmel, Immaculate Concepcion Parish Church, St.
Jude Thaddeus Parish Church, Peafrancia Basilica Mi-
nore, and San Francisco Church among
others.
Naga City is preserving nine sites and his-
torical landmarks: Calle Via Gainza, now
Peafrancia Avenue, Calle Real, now Elias
Angeles Street, Calle de Legaspi at the
western portion of Panganiban Drive, Casa
Real site on General Luna Street, Casa Tri-
bunal site on Elias Angeles Street, Casino
Espaol site at the corner of Elias Angeles
and Arana Street, House of Tomas Prieto
site at the corner of Panganiban Drive and
Peafrancia Avenue, Naga City Police Sta-
tion on Barlin Street, and Puente de Naga,
now Lt. Delfin Rosales Bridge.
Naga City is divided into 27 barangays. It
is accessible by air and by land. There are
buses in Manila that will take visitors and
locals to the city. For a more exciting, and
faster ride, people can try the Philippine
National Railways.
Naga also boasts of one of the finest
schools in the country: Ateneo de Naga. AC-
PACI invited some accounting students of
the university to take part in the technical
sessions.
The city hosts the Naga City Camsur Wa-
ter Complex. Since it was built, urbanites
couldnt get enough of wakeboarding.
From Manila and other cities in the Philip-
pines, water sports enthusiasts just had to
experience CWC or the Camarines Sur
Wakeboarding Complex. The cable is about
700 meters long.
Naga City is one tourist destination that
Filipinos should never miss in their life-
time. It has so much to offer not only in wa-
ter sports, butanding or whale shark watch-
ing, but also tracing history with its cen-
turies-old structures.
ACPACI
forms Cebu
Chapter
From page B2-3
Inducted as Cebu Chapters first set of offi-
cers are Grace Socorro Larcea, President;
Susan King-Bernardo, Vice President/Pro-
fessional Development & Lifelong Learn-
ing; Sandy Yuvallos, Director - Membership
Development; Avelita R. Ybanez, Director -
Ways & Means; Benjamine Hortelano, Di-
rector - Fellowship & Sports; Tomas Riveral,
Director - Social Involvement & Communi-
ty Extension; Eric Mendoza, Director - Con-
ventions; and Gilbert Cabatana, Director -
Meetings.
The Cebu Chapter was formed through
the efforts of ACPACI EVP Consuelo O.
Cadelia when she endeavored to reach
out with her fellow CPA classmates from
the University of San Carlos. After a year of
planning, conceptualizing and meeting
CPAs in the commerce and industry sector
in Cebu, their dream paid off.
Larcea stressed that the chosen theme
provides another dimension of the revolu-
tionary and multi-faceted roles of the CPA
in the commerce and industry sector. The
strength of these roles comes from being an
advisor, analyst, connector, influencer,
mentor, stimulator and initiator. Amidst the
myriad of challenging business situations,
industry CPAs set the standards of being the
voice of the profession, upholding integrity,
good governance and excellence in the
workplace. Unquestionably, the industry
CPA is indeed a standout.
In spreading ACPACIs wings, Arago
thanked the ACPACI Cebu chapter new
members and its officers to create a differ-
ence not only in sustaining integrity of the
accountancy profession, but more so, to
create a lifelong positive impact for the so-
cio-economic society.
The ceremony was attended by PICPA-
Cebu President Atty. Rhener Mora, Director
Dr. Marissa M. Baldecir and Ms. Ma. Paz V.
Malubay, 2011 ACPACI National President.