Second Quarter Newsletter FY 2021-202

OCTOBER – DECEMBER 2021 VOL 1 FY 2021 - 2022

The Official Newsletter of Philippine Institute of CPAs Rizal Chapter

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03 President’s Message 04 PICPA 76 Annual National TH

Convention

10 Meetings and Conferences 12 Chapter Sponsored Webinars 18 2 General Membership Meeting 21 Webinars’ Most Active Participants 22 Board of Directors Meetings 23 Family Day 25 Community Projects 27 Birthday Celebrants 28 Board of Directors and Officers 29 Reflection nd

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PRESIDENT’S MESSAGE By: Danniboy P. Cero PICPA Rizal Chapter President Merry Christmas & Happy New Year to All! As the year ends, so does our challenging 1st six months in office. Over-all, the Chapter did a good job.

I am happy to report to you, that consistent with our theme for the year, your chapter officers are in full transformation mode. Without let-up and in increasing frequency towards the end of the year, holistic webinars were offered and some are free for MIGS; aimed towards embracing possibilities that you will continue to patronize and better still invite colleagues, staff, friends and relatives to our offerings, without losing sight of your professional development.

The National office has been generous in sending us our share of membership fees for July 2021 of Php18k.

Services support to the STaR region was the hallmark of the membership department.

During the period, potentials were realized in the form of agile officers that came forward to meet the very dynamic and transforming chapter. Both new Treasurer and Assistant Treasurer took command of the department with their agility.

National office’s recognition to our financial and administrative compliance was achieved in combination with the Secretary department. Cross-posting of Secretary’s team to handle Family Day event and the collaboration project with stakeholder BIR RDO#45 for a chapter helpdesk marks excellent flexibility.

And to seal the chapter’s mission, the Audit/CSR managed to extend our support to Typhoon Maring fund raising, to our fellow National Office Training Manager’s appeal for late father, to Antipolo special children of Virtudez de la Academia, Inc., to Typhoon Odette fund raising and to STaR and National Office Christmas events.

A milestone for the chapter came as unexpected gift from heaven. Honorary Life Member Sir Rolly Leyble announced a lot donation and building improvement and with this; a new urgent challenge is posed to the Secretary’s Team’s flexibility in making the donation a reality.

And our Sectoral Representative guided us with our virtual daily conversation with the Almighty that we be guided and directed in our daily tasks and always be with a grateful heart.

As your President, I will continue to steer your transformed officers with the end view of achieving PICPA’s mission-vision.

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PICPA 76 ANNUAL NATIONAL CONVENTION TH

The COVID-19 pandemic deferred a lot of events but not the PICPA annual convention. The 76th Philippine Institute of Certified Public Accountants Annual National Convention and 2nd Annual National Convention done virtually was held at the Philippine International Convention Center on November 24-27, 2021. The conference has come a long way and has surpassed the various challenges, once again CPAs across our nation gather together in this meaningful event using the changing technological trends.

Opening program, chapter presidents conference, sectoral breakout, and special interest sessions were held on November 24, 2021. Special interest sessions, thanksgiving mass, technical sessions and national awards were conducted on November 25, 2021. Technical sessions and regional night were held on November 25, 2021. Another series of technical sessions, closing ceremony and special interest session were held on the last day of the convention on November 26, 2021.

Team Rizal Chapter at PICC during the 76th PICPA Annual National Convention.

Day 1 – November 24, 2021 Public Practice – The resource speaker is Ms. Gina S. Detera,

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Government Budget Decentralization: Impact on Allocations in National to Local Transitions – The resource speakers are Mr. Nino Raymond B. Alvina and Hon. Rolando U. Toledo

Commerce & Industry Empowering Digital Entrepreneurs Build a New Economy – The resource Speakers are Mr. Joshua Rueben G. Aragon and Mr. Steve Sy

Education The Latest on the Licensure Examination for Certified Public Accountants (LECPA) – The Speakers are Hon. Dr. Noe G. Quiñanola and Dr. Florenz C. Tugas

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Day 2 – November 25, 2021

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National Awards Night on November 25, 2021 awarded an Honorary Life Member to Mr. Rolando Leyble and Outstanding Chapter PICPA Rizal led by Dr. Enrique Ike Pinos for FY 2020-2021. Mabuhay ang PICPA Rizal Chapter! Congratulations to all Officers and Members!

Day 3 – November 26, 2021

Congratulations to Ms. Betty Esplana in leading the PICPA Southern Tagalog Region (STaR) FY 2020-2021 and PICPA Southern Tagalog Region as one of the Outstanding Region. Kudos as well to PICPA Southern Tagalog Region as the Grand Winner of 76th PICPA Annual National Convention PICPOP Music Festival Award (Regional Presentation).

STaR entry can be viewed at YouTube channel: CPA AKO by Southern Tagalog Region (Official Entry to the PICPOP 76th PICPA ANC Music Festival) - YouTube

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Day 4 – November 27, 2021

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MEETINGS AND CONFERENCES SME & SMP Growth Series PICPA Tech Fair 2021 The SME and SMP Tech Fair was held on October 21-23, 2021. Eight (8) members of PICPA Rizal Chapter participated the event. The Tech Fair aims to empower the SMEs and SMP in innovating into the utilization of digital transformation in the practice of accounting. The main core of the fair is to accelerate growth in audit, tax, and accounting through technology.

2nd

2nd Luzon Geographical Area Office (LGAO) Conference 2021 The LGAO Conference hosted by PICPA Southern Tagalog Region in collaboration with various chapters was held on October 27-30, 2021. Seven (7) officers from PICPA Rizal participated in the Commerce and Industry, Three (3) in Government, Six (6) in Public Practice and Three (3) in Education Sector.

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2nd Southern Tagalog Region General Membership Meeting The 2nd Southern Tagalog Region General Membership Meeting was held on December 4, 2021. Officers from PICPA Rizal participated in the event. Updates on Continuing Professional Development Accreditation System (CPDAS) have been discussed as well the current Membership in Good Standing (MIGS). Regional, Chapter and PICPOP Music Festival awards given during the 76th Annual Convention were also presented during the meeting.

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WEBINARS The Board of Accountancy Updates and Adaptation of International Code of Ethics in the Philippines webinar was held on October 02, 2021. The resource speaker, Dr. Gerry Ilandag Piator discussed the updates on Board of Accountancy resolutions as well as the guidelines on the conduct of hearings and administrative proceedings via video conferencing, and other processes incidental thereto in relation to the adaptation of International Code of Ethics in the Philippines. He also mentioned sample of cases filed at PRC for the CPA practitioners.

The BOA updates discussion includes the Continuing Professional Development (CPD), Philippine Qualifications Framework (PQF) Law and Career Progression and Specialization Program, Accreditation of Practitioners, Quality Assurance Review, Asean CPA, PIC, FRSC and AASC. He emphasized the Republic Act No. 10912 also known as CPD Act of 2016 and the Resolution No. 1146 (s.

On October 9, 2021, PICPA Rizal Chapter conducted The Essentials of Transfer Pricing. The resource speaker, Ms. Elsa M. Cañete discussed the basis such as the UN Model Tax Convention Article 9(1) and the related laws which are applicable in determining the covered transactions. The Chapter recorded 52 participants, all of them earned the 1.5 CPD units under Competence A.

Essentials of Transfer Pricing discussion includes the various transfer pricing methods, determining the economic circumstances in arms’ length prices and related party transactions. After the webinar, Ms. Rosemarie Andrion was recognized as the most active participant and a certificate of appreciation was sent to her by the PICPA Rizal Chapter.

2019) including the salient features. He encouraged practioners to get involved in different accreditations offered by the board especially the Asean CPA.

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On November 6, 2021, QAR Consideration in accordance with PSA 220 webinar was conducted at 10:00am to 12:00pm. The resource speaker, Mr. Marco Ng discussed the Quality Assurance review being conducted by Board of Accountancy that mainly focused on the PSA 220, which is quality control over the financial statements. The Chapter recorded 192 participants, all of them earned the 1.5 CPD units under Competence C. QAR Consideration in accordance with PSA 220 discussion made to understand the

audit process and the QAR on the practice of profession for auditors. Also giving them guidelines and requirements as to the documents needed to be prepared by then to be given to QAR examiners and the key to success in proper strategic planning and implementation. After the webinar, Ms. Melissa Constantino was recognized as the most active participant.

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On November 6, 2021, Sustainability Reporting and the Evolving Role of Accountants at 2:00pm – 4:00pm. The resource speakers, Mr. Benjamin Villacorte and Ms. Yna Altea Antipala discussed basics of sustainability, and to help them recognized their roles in driving sustainable business to achieve long-term value access to its stakeholders. The Chapter recorded 151 participants, all of them earned the 1.5 CPD units under Competence B. The role of accountants emphasized on the importance of sustainability reporting to businesses, the crucial

role of accountants to integrate sustainability considerations, the growing stakeholders scrutiny on reporting and the connection of sustainability to financial reporting and assurance. The discussion also focused on creating the long-term value and how accountants can lead on sustainability and climate action. After the webinar, Mr. Alessandro Rey Formoso was recognized as the most active participant.

On November 13, 2021, Creating Wealth and Financial Freedom webinar was conducted from 10:00am – 12:00pm. The resource speaker, our very own PICPA Rizal Chapter Assistant VP for Membership Ms. Edes Banting discussed the key to lifetime happiness in the workplace and in life. It also focused on knowing your relationship with money, changing your habits and mentality towards money

and various steps to financial freedom and creating wealth. The Chapter recorded 23 participants, all of them earned the 1.5 CPD units under Competence B. Ms. Normita Gonzales served as the Moderator while Ms. Barbara Pinos, VP for Professional Development, introduced the Speaker. At the end of the session, Mr. Conrado Pioquinto Jr. was recognized as the most active participant.

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On November 20, 2021, SEC Updates webinar was conducted from 10:00am – 12:00pm. The resource speaker, Mr. Eric Magcale discussed the newly issued issuances and decisions by the SEC. A comprehensive discussion and samples on Notes to Financial Statements like the Basis of Preparation, Cash and Cash Equivalents, Receivables, Financial Instruments, Inventories, Investment in Properties,

Liabilities and Equity were also cleared. The Chapter recorded 39 participants, all of them earned the 1.5 CPD units under Competence A. Ms. Normita Gonzales, Director for Public Practice sector served as the moderator of the event while Ms. Barbara Pinos, VP for Professional Development introduced the Speaker. After the webinar, Mr. Angelos Tesoro was recognized as the most active participant.

On December 3, 2021, Philippines Financial Reporting Standards (PFRS) Updates 2021 webinar was conducted from 10:00am – 12:00pm. The resource speaker, Mr. Elirie Aranas discussed the IFRS updates, interest rate benchmark reform pahse

2, amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 as well as IFRS 16 COVID-19 Related Rent Concessions. The participants earned 1.5 CPD units under Competence A. After the webinar, Mr. Manuel Tria was recognized as the most active participant.

On December 3, 2021, Updates, Reminder and Discussion of Captivating and Intriguing Taxation Topics webinar was conducted from 2:00pm – 4:00pm. The resource speaker, Mr. Enrique Pinos discussed the tax legislation which is still in Congress and Senate as well the updates on Taxation, various BIR issuances such as the Revenue Memorandum Order and Revenue Regulations, tax incentive and fee privileges under COVID-19 vaccination program act of 2021 (RA No. 11525), amendments introduced by CREATE Act, new income tax rates on the regular income of

corporation pursuant to RR 5-2021, amendments to tax delinquencies under RR 32-2020, taxation of Philippine Offshore Gaming Operations RMC 1072021, issues relative to VAT exemption of certain medicines, an act reforming the Corporate Income Tax and Incentive System under RA 11534 and beneficial and captivating taxation issues. The participants earned 1.5 CPD units under Competence A. After the webinar, Mr. Angelito Andres was recognized as the most active participant.

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On December 11, 2021, COVID 19: Tax Compliance Impact in the Philippines webinar was conducted from 10:00am – 12:00pm. The resource speaker, Ms. Rhodora Icaranom discussed on how to adapt to the changes brought by the COVID-19 pandemic to the tax compliance of taxpayers and tax practitioners.

She also discussed the change in filing and payment platforms being used by the BIR to address convenience in tax compliance. The Chapter recorded 21 participants, all of them earned the 1.5 CPD units under Competence A. She also discussed the process of claiming losses and inventory

destruction in the midst of the pandemic and the recent issuance on the Exemption on Separation benefits during COVID-19.

She informed participants of the extended years to avail of NOLCO from the COVID-19 sustained losses and the DST exemption on loans availed during the covered period as well as the Exemptions from Donations.

She also informed the attendees the Importation Exemptions for COVID Essential Equipment, Machines and products during COVID-19

On December 11, 2021, Virtual Auditing: Keep Calm and Audit on During the Time of Pandemic webinar was conducted from 2:00pm – 4:00pm. The resource speaker, Mr. Marco Fernando Ng discussed on how to prepare planning documents using electronic evidence, gathering electronic data, disclosure documentation for going concern and

impact of the disclosure on PFRS 9 on ECL and type of audit report to issue depending on the disclosure for each item impacted by COVID-19.The Chapter recorded 21 participants, all of them earned the 1.5 CPD units under Competence A.. After the webinar, Mr. Francis Baysic was recognized as the most active participant.

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On December 18, 2021, PICPA Rizal Chapter’s Second General Membership Meeting Managing COVID-19 Infodemic: Social Media Awareness webinar was conducted from 9:00am – 12:00pm.

The resource speaker, Dr. Jason Triton D. Ligot discussed the importance of news verification posted in the social media through trusted websites.

He also discussed that since everybody is impacted

by COVID-19, we should follow the health protocols like wearing face masks and social distancing to avoid the virus. The Chapter recorded 103 participants, all of them earned the 1.5 CPD units under Competence B.

On December 18, 2021, PICPA Rizal Chapter’s Second General Membership Meeting Tips on Digitalization for Accountants webinar was conducted from 1:00pm – 4:00pm. The resource speaker, Mr. Eric Magcale discussed on management tips during work from home considering the various challenges such as lack of face-to-face interaction, supervision, social isolation and distractions at home. The tips he shared

includes creating ease in communication, video conferencing, setting rules, clarify commitments, schedule sessions and engaging teams in more training. The Chapter recorded 161 participants, all of them earned the 1.5 CPD units under Competence B.

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2

ND

GENERAL

MEMBERSHIP MEETING The 2nd General Membership Meeting was held on December 18, 2021. The first session is from 9:00am-12:00pm. The program started with a Welcome Remarks from our President Danniboy Cero where he encouraged everyone to update the membership and participate with the Chapter webinars. Inspirational message was delivered by Past Senior Regional Director, Chapter Past President and Honorary Life Member Mr. Rolando Leyble, he shared his career journey from being a working student until he became a CPA and now a registered broker. He shared how fulfilled he is and mentioned the announcement he made in the 5th BOD meeting and Family Day donating 200 sqm lot and Php200,000 as a starting fund to build the PICPA Rizal office. The program followed by the Secretary’s Report of Assistant Secretary and Assistant PRO Dineth Larsen which focused on

various reports submissions, Family Day and Updated on donated lot and cash of Mr.Rolando Leyble and the donation drive to be used in building the PICPA Rizal office. VP for Membership Robert Arellano reported the Operations and Membership which include the membership renewal, Balik PICPA program or amnesty, transfer of chapter membership and the ASEAN Chartered Professional Accountant (ACPA) title. A webinar entitled “Managing COVID-19 Infodemic: Social Media Awareness” was followed and conducted by Dr. Jason Triton Ligot. Ms. Barbara Pinos, VP for Professional Development reported the various webinars conducted by the chapter. Raffle winners are Ronnel Antigua, Feliciano Nidoy Jr, Hans Edison Simart. Ms. Dineth Larsen, Assistant Secretary and Assistant PRO served as the moderator.

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The second session is from 1:00am-4:00pm. The program started with a webinar entitled “ Tips on Digitalization for Accountants”. After the webinar, Treasurer Yolanda Narvasa reported the status of the chapter financials, followed by the report of Auditor Anita Santiago on the CSR conducted on the same date with Lil Brave Heart. On President’s report, Mr. Danniboy Cero reported how each

department is working and how he steer each department. Closing remarks was delivered by President Elect Rosemarie Gatlabayan. Another set of raffles were given and the winners are Mark Anthony Grabillo, Lily Marilyn Pascua, Manuel Jacosing. Ms. Yolanda Narvasa, Treasurer served as the moderator.

After the morning and afternoon sessions of the PICPA Rizal Chapter Second General Membership Meeting a Christmas Online Party was held at 4:00pm. Assistant Secretary Dineth Larsen served as the emcee. President Danniboy Cero gave his Christmas message to all PICPANs. VP for Professional Development Barbara Pinos prepared the bingo cards were players enjoyed a

lot as it played by guessing the lyrics of the song, Christmas images from its zoomed-in image, naming the singers behind their Santa masks, guessing the word or phrase written with emojis and the title of the movie by its lines. Raffle were also drawn and the winners are very happy with the prizes.

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WEBINARS MOST ACTIVE PARTICIPANTS Here are the most active participants for PICPA Rizal Chapter’s webinar for the second quarter. Each of them was given a certificate of appreciation along with the certificate of attendance.

October 09. 2021: Essentials of Transfer Pricing

November 06, 2021: Sustainability Reporting and the Evolving Role of Accountants

November 20, 2021: SEC Updates

December 03, 2021: Updates, Reminder and Discussion of Captivating and Intriguing Taxation Topics

November 06, 2021: QAR Consideration in accordance with PSA 220

November 13, 2021: Creating Wealth and Financial Freedom

December 03, 2021: PFRS Updates 2021

December 11, 2021: Virtual Auditing: Keep Calm and Audit on During the Time of Pandemic

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MONTHLY BOARD MEETINGS The third Board of Directors meeting for FY 2021-2022 was held to on October 02, 2021 via Zoom. Nine from the current officers were present and was joined by 3 Ex-officios: Ms. Betty Esplana, Mr. Enrique Pinos and Mr. Pedro Habana. The President and each department reported on their performances. Main agenda that were discussed are the financials prior period adjustments, ED memo 007 issued by the National Office on September 29,2021 regarding the list of names of Chapter’s Ethics Committee and entrepreneurs from barangays in Antipolo as participants for a webinar to be conducted in collaboration with the government.

During the fourth monthly Board of Directors meeting on October 30, 2021. President Danniboy Cero and each departments presented the accomplishments for the month, plans for October 2021, Updates on Family Day, reading of resolution for the granting of Php400 electricity share – Php200 each for Mr. Rolando Leyble & Ms. Kimberlyjoy Acosta and replacing former Treasurer Alessandro Rey R. Formoso by Mrs. Yolanda J. Narvasa and suggestion to provide Officers with participation in the webinar with a copy of the program. Eleven from the current officers were present and was joined by 2 Ex‐officios: Ms. Betty Esplana and Mr. Pedro Habana.

The fifth Board of Directors Meeting was held on November 30, 2021 Brixcel Farm Resort, Sitio Payong, Brgy Dalig, Antipolo City Rizal. This was the first ever face-to-face meeting since the current officers were elected. President Danniboy Cero welcomed all the participants. Mr. Rodolfo San Felipe, the Chapter’s founder delivered his message. Achievements and plans of each department heads were presented. Advisers were asked to share a word to encourage the officers to continue their work for the growth of PICPA Rizal.

Mr. Rolando Leyble, the Honorary Life Member awardee during the 76th Annual National Convention shared his blessings by donating a 200 sqm. lot to PICPA Rizal Chapter plus P200,000.00 as starting fund for the building construction The Official Newsletter of Philippine Institute of CPAs Rizal Chapter

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FAMILY DAY The PICPA Rizal Chapter 5TH Board Monthly Meeting and Family Day was held on November 30, 2021 at Brixcel Farm Resort, Sitio Payong, Brgy Dalig, Antipolo City Rizal. After 20 months of limited physical movement and meeting online, we finally see each other again face to face. The event is no expense on the chapter as the Directors and the attendees contributed for the resort charge, pot luck on food plus in-kind donations. Observance to health protocol is observed. Advisers and PICPA Rizal Chapter founder, Mr. Rodolfo San Felipe also attended the event. Everybody had fun during the Zumba, exchange gift, Permission to Dance video presentation which was participated by the Officers and games.

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COMMUNITY AND SOCIAL INVOLVEMENT PROJECTS In response to National Office PICPAtulong call of donations for typhoon Maring victims, PICPA Rizal Chapter officers and advisers have contributed to help and were able to raise amounts from their generous hearts.

PICPA Rizal Chapter Officers conducted a Courtesy Call with BIR Marikina RDO No. 45 officers; Assistant Revenue District Officer (ARDO) Rosemarie G. Gimpison and Chief Assessment Section (CAS) Cecile Rey F. Panelo on November 23, 2021.

Chapter officers in attendance are: President Danniboy Cero, AVP for Professional Development Barbara Pinos, Director for Government Sector Evelyn Valenzona, Assistant Secretary Dineth Larsen, Ex-officios Enrique Pinos and Remegia Pantoja. ARDO Gimpison and CAS Panelo shared the updates on the current set-up of the RDO’s personnel and the importance of using the EFPS by the taxpayer. They also emphasized to increase the revenue collections by encouraging the taxpayers to pay taxes.

PICPA Rizal Chapter Officers revisited the BIR Marikina RDO 45 to have a Courtesy Call with Revenue District Officer Abdullah D. Bandrang Gimpison on November 29, 2021. Chapter officers in attendance are: President Danniboy Cero, Director for Public Practice Sector Normita Gonzales, Director for Government Sector Evelyn Valenzona, VP for Membership Robert Arellano and Assistant Secretay Dineth Larsen.

RDO Bandrang informed the officers that he will continue the current program of the bureau. He ardently requested us PICPA Rizal achieved the RDO's collection goal this month of November 2021 and up to the coming tax season. President Cero discussed the proposal to establish a PICPA Rizal Helpdesk in coordination with the RDO’s Officer of the Day to help taxpayers and clients on the various tax queries thereby having a faster resolution of tax issues and context, efficient sub tax administration resulting in the increase of tax collection and development of end to end tax collection ecosystem. RDO Bandrang have a positive response and will establish a BIR and PICPA Rizal Viber group. 5 BIR Group Supervisors will handle on a rotational basis in coordination with the PICPA Rizal Officers.

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PICPA Rizal Chapter second CSR project was conducted by sharing gifts to Lil Brave Hearts Antipolo Chapter on December 18, 2021. Children with Down Syndrome received the gifts with their sweetest smiles and appreciation. The Chapter truly live in our purpose as President Danniboy Cero message on the event “The

PICPA Rizal chapter is supportive in the government’s efforts in the prevention of the causes of disability, rehabilitation and equalization of opportunities for persons with disabilities. Our visit today, is a clear manifestation of our sincere purpose of bringing special children to the mainstream of the Filipino society”.

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BIRTHDAY CELEBRANTS

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There can be no greater gift than that of giving one’s time and energy to help others without expecting anything in return.

-Nelson Mandela

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01 Activity Reports 02 Completion Reports 03 PICPA Rizal Chapter Website 04 PICPA Rizal Chapter Facebook

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