Deal inked for advance accounting profession

THE Institute of Chartered Accountants in England and Wales (ICAEW), a world leader of accountancy and finance profession, and the Philippine Institute of Certified Public Accountants (Picpa) signed an agreement to develop talent, share knowledge and advance the accountancy profession in the Philippines and the region.

The agreement was signed by ICAEW president Clive Parritt and Picpa president Josefina Chua at the China Britain Business Council office at the British Centre in Beijing, China, last May 31 during the Confederation of Asian and Pacific Accountants conference.

ICAEW and Picpa will develop learning programs in areas of International Financial Reporting Standards, International Standards on Auditing and audit firm governance as well as share the latest advances in corporate governance, professional ethics and technical research.

“This agreement will further strengthen the relationship between ICAEW and Picpa. With the increase of globalization, it is important for professional bodies in different countries to work together across national borders, and to learn from each other,” Parritt said.

Chua, for her part, said “Picpa is delighted in expanding its international relations with ICAEW. Members of both institutes will now be able to share knowledge and support.”