Chapter Sponsored Webinars

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.

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

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.

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.

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.

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.

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.

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.