Beruflich Dokumente
Kultur Dokumente
IS THE
ACCOUNTANCY
PROFESSION READY?
Technical Session 2
Regulator’s Forum (Joint with nACPAE)
Grand Ballroom, Hotel Intercontinental Manila, Makati City
July 15, 2015
Regulatory harmonization
Reduction of trade barriers
Promotion of labour mobility
ROLE OF THE ACCOUNTANCY PROFESSION
•A properly
functioning
accountancy
profession is
•critical to:
•• Private sector
development –
investor
•confidence and
attracting FDI WB Report
2014
•A properly
functioning
ROLE OF THE ACCOUNTANCY PROFESSION
accountancy
profession is
•critical to:
•• Public sector –
sustainable public
financial
management
reforms and
improved
governance,
•accountability and
Key Challenges of the Guardians of the
Treasure House of ASEAN
Most ASEAN countries
have adopted and are
implementing International
Accounting and Auditing
Standards in the private
and public sectors.
•• The significant
‘development gap’
across ASEAN
countries will
increasingly
constrain economic
development unless
it is addressed.
Curre nt S ta tus of the Ac c o unting a nd Auditing
Pro fe s s io n in AS EAN Co untrie s by the World Ba nk
S e pt. 2014
• regional harmonization
and coordination of capacity
building would be beneficial
Wha t a re a s do e s the re po rt c o ve r?
• A c c o u n tin g E d u c a tio n
• E n try Re q u ire m e n ts
fo r P ro fe s s io n a l
A c c o u n ta n ts a n d C P D
• P ro fe s s io n a l
In d e p e n d e n c e a n d
E th ic s Re q u ire m e n ts
• A FA’s Ma n d a te a n d
Ro le
• Na tio n a l PA O
De v e lo p m e n t
Wha t a re the ke y finding s in Ac c o unting
Educ a tio n?
Fig u re 2 . Min im u m c re d it h o u rs to o b ta in a n
a c c o u n tin g d e g re e / in c lu s io n o f in te rn a tio n a l
s ta n d a rd s in th e c u rric u la
Wha t a re the ke y finding s Ac c o unting
Educ a tio n?
Fig u re 3. A c c o u n tin g g ra d u a te s p e r
y e a r, b y c o u n try
Wha t a re the ke y finding s in Entry
Re quire me nts ?
Ta b le 2 . C o m p a ris o n o f e n try a n d C P D
re q u ire m e n ts fo r th e a c c o u n tin g p ro fe s s io n
Wha t a re the ke y finding s on Ethic s ?
Ta b le 3. E th ic s a n d ro ta tio n
re q u ire m e n ts fo r a u d ito rs
Wha t a re the ke y re po rting re quire me nts ?
Ta b le 4 . Fa c to rs th a t a ffe c t a c o m p a n y ’s
a c c o u n tin g , a u d it, a n d fin a n c ia l re p o rtin g
re q u ire m e n ts
Wha t a re the ke y finding s on
Pro fe s s io na l Ac c o unta nc y Org a niza tio ns ?
Fig u re 1 . A p p ro xim a te n u m b e r o f p ro fe s s io n a l
a c c o u n ta n ts b y c o u n try
Key Findings in Public Sector
Accounting and Auditing:
• LANGUAGE
• CULTURAL SENSITIVITY
Let us not follow the Little Prince’s
Accountant who spends his days
working over his books, counting
everything up, claiming ownership of
all that can fit in the ledger, and failing
to see that we live in a whole, wild
universe filled to the brim with stars
somewhere in the midst of which one,
unique rose lives on a planet and
calls out for love.
MAY WE BE ABLE TO SEE BEYOND
THE ECONOMIC FIGURES……
THANK YOU!