N E W S   &   E V E N T S



FY 2009-2010: 3rd and 4th Quarter

WMMC 3rd and 4th Quarter Report

by: Cynthia A. Molina-EMMC, President & Macrina Violeta Vicenta-Chair, Publication




After saying good-bye to 2009 and all the fireworks, year 2010 ushered and Western Metro Manila Chapter started the year right with career advancement for its members in mind. January 20-21, 2010, our chapter sponsored a seminar on the Philippine Standards on Auditing and the week after (January 25-26, 2010), two seminars were offered, one on PFRS Trends and Updates at PICPA Building and the other on the Fair Presentation of FS in Accordance with Financial Reporting Framework (focusing on IFRS for SMEs) at the PNB Executive Lounge.


The WMMC Officers and members attended the First Metro Manila Regional Tax Conference held at the Grand Ballroom of the Hotel Intercontinental in Makati on January 14, 2010 where topics on recent BIR issues and regulations were discussed/presented, viz: Year End Tax Reminders by Atty. Alexander B. Cabrera, BIR Rulings on PFRS-Related Tax Issues by Ms. Ma. Victoria C. Espano, Latest Jurisprudence on Tax Assessments and Claims for Refunds by Hon. Juanito C. Castaneda, Updates on Philippine Tax Rules by Mr. Noel P. Rabaja and Thrusts and Strategies of the BIR for 2010 by BIR Commissioner Hon. Joel L. Tan-Torres.

This month ended with not just career development for our colleagues in the profession but for members of our adopted community as well, most of them were mothers, grandmothers, wives, and retirees. The beneficiaries, totaling about 120, are residents of Brgy. 604, Bataan Street, Bacood, Manila, where a seminar on Detergent, Dishwashing & Fabric Softener Making was held together with a “Business Clinic in the Barangay” with a film showing on “Gabay sa Pagnenegosyo” was also given last January 23, 2010. Active and dedicated WMMC Officers, such as Azon Bautista, Val Arciaga, Floi Yboa, Aphat Matinez, yours truly, and Ed Molina, assisted our President Cynthia Molina on these activities.



Valentine month was filled with love and celebration! A joint-fellowship for ACPACI and PICPA entitled “PRE-VALENTINE COCKTAIL PARTY” was held at the PICPA training room last February 11 attended by the officers of the ACPACI and the Metro Manila Region. The celebration was initiated by the Four Sectoral Representatives of the Commerce and Industry Sector to reach out and bond with the officers and members of the Association of Commerce and Industry led by its President Ms. Cora Rey. Then came “A Night of Love and Romance” for the valentine’s day celebration of WMMC, as well as celebrating the birthdays of our celebrants namely: the lovely Valentine Arciaga, the handsome Aphat Martinez and our charming president Cynthia Molina. After nights of dancing and dining, our health-buff Ms. Iry Icaranom sponsored a physical fitness activity at her office at the BIR – Makati attended by our health-conscious members as well as BIR CPAs.


On February 20, 2010, WMMC’s dedicated and active officers, led by President Cynthia Molina, trooped to Talisay, Batangas to participate in the Medical and Dental Mission of the Metro Manila Region to complete our community projects.

On February 22 to 24 came the career advancement seminars on Financial Statement Analysis, Code of Ethics and Good Governance and a Joint General Membership Meeting of Southern and Western Metro Manila Chapters was held at the Makati Sports Club participated in by new and renewing members of both chapters. Special topics in the GMM included: “Taxpayer’s Rights and Remedies” with special guest speaker Attorney Victorino C. Mamalateo, author of the book with the same title as well as partner at V.C. Mamalateo & Associates; “Socio-political Scenario” with special guest Mr. Cito Beltran a noted columnist; “Internal Control” with Mr. Joseph Ian M. Canlas, a senior director of SGV & Co. as invited speaker; and last but not the least, an inspirational talk by Dr. Onofre R. Pagsanghan of the Ateneo de Manila University on “Love your Calling It is the Meaning of Your Life”.




The month kicked-off with two special seminars: One designed for our educators, the adopted sector of the WMMC, and the other for members in the Manila area. Far Eastern University, our host university, deeply welcomed our chapter and members of the education sector to the IFRS for SMEs and PAS Updates seminar last March 6, 2010. FEU graced the seminar by allowing us to use their auditorium for free, while speakers were Professor Rhamir Dalioan and WMMC’s Ms. Lucy Lim Chan who could not make it that day sent two equally equipped speakers both from SGV, namely Ms. Charisse Cruz and Mr. Johnny Ang.


On March 10, 2010, officers and members of WMMC, led by President Cynthia, WMMC Past President & Adviser Dolly Miguel, attended the Second Metro Manila Regional Tax Conference and EMMC General Membership Meeting held at the Grand Ballroom of the Makati Sports Club.


Another seminar was held for the first time at the City Garden Suites in Manila covering the topic “Common Errors/Issues in the Preparation of Financial Statements and Calculation of Income Tax” last March 19. Special guest speakers for this event were both partners of SGV, namely Mr. John T. Villa (Audit) and Ms. Sonia D. Segovia (Tax Reporting and Operations Group). Other career advancement seminars for this month included: “Common Errors of Accountants in the Field of Taxation & How to Handle Tax Audit” held last March 25 and “Level 1 & 2 Conversion & Adoption of PFRS” held last March 29-30.


WMMC ‘s traditional annual church visit, a tradition which the chapter has been holding for the past six years in preparation for lent, to the famous “Monasterio de Tarlac“ in Sto. Tomas, Tarlac happened last March 27, a week before Holy Week. The attendees brought food for sharing. Bing Nazareno our president -elect brought sweet sauced barbeque, while past president Aphat Martinez brought saucy adobo and yummy nilagang saging. President Cynthia Molina also brought adobo and boiled egg while Pete Garcia contributed dessert of one kaing of sweet and juicy ripe mangoes. Our ever loyal and present Tita Azon Bautista brought boneless tinapa with itlog na maalat as well as plates to be used. Our voluptuous Tita Lyn Arciaga brought the most among those who attended, particularly fried pusit, isdang tulingan, daing na galunggong, itlog na maalat, ensalada, suman, balot, rice and utensils such as plates, spoons & forks, and to complete the setting she also brought a folding picnic table! Lunch, after the mass, was held at the Monasterio de Tarlac mini-park.


Truly, when WMMC officers and members commit, the best things happen.




April has become the most hectic month for practitioners as this is the month of report and tax deadlines. This is the month when coffee sales hit the roof, personal computers and laptops tend to crash due to overuse, office electric bills sky-rocket and eye bags become the “in” thing.


WMMC faced these challenges head-on and continued to offer professional development tools to equip members with timely and relevant topics to guide them with regulatory compliance on financial reporting and tax requirements. We sponsored the following professional development seminars in April: “Tax Aspect of Non-Stock Profit Organization & Tax Aspect of Cooperative” which was held last April 5, 2010 with Dr. Ruperto P. Somera as resource speaker, “Fraud Prevention, Detection & Control” held April 14-15, by Dr. Rosalinda D. Evangelista, and “Audit Working Paper (focusing on IFRS for SMEs)” discussed a week after (April 27) by WMMC’s loyal resource speaker, Mr. Rhamir C. Dalioan, emphasizing on important points to remember for the participants.


Last April 21, 2010, we attended the Quality Assurance Review (QAR) Forum held at the Grand Ballroom of the Makati Sports Club with a roundtable discussion on the implementing guidelines of this regulation by no less than our BOA Chairman, Hon. Eugene Mateo as the luncheon special guest. Important luminaries in the accounting profession were present as reactors during the roundtable discussion namely; Atty. Ma. Gracia Casals-Diaz, Gneral Accountant of SEC, Ms. Ma. Cecilia Ortiz, Member – Auditing Assurance & Standards Council, Ms. Felicidad A. Abad – President of ACPAPP, Mr. Gemilio J. San Pedro – Professional Practice Director of SGV and Ms. Jenny L. Arciga – Risk Management Partner of Isla Lipana & Co.


Enriching and significant topics that were also discussed during the whole day session were as: Good Governance shared by Atty. Eranio L. Punzalan – Managing Partner of E.L Punzalan & Co., CPAs and PFRS for SME’s discussed by no less than the SCE Accountant, Atty. Ma. Gracia Casals-Diaz.




After meeting the deadlines and all the sleepless nights in the previous month, May became the month of recovery for us as we focused on our membership campaign program. Supported by our dedicated and supportive officers: Edgar, Val, Azon and Violy, we conducted a “Membership Campaign: A Courtesy Call to Officers of the BSP” such as Ms. Grace Rabuyo - Manager of the Supervision & Examination Sector and Mr. Gerry Butardo, also a Manager of the same Sector and a WMMC Committee Co-Chair on Membership” last May 4. This is one of the most fruitful campaign we had since WMMC was able to cause more than a hundred BSP CPAs to renew their membership affiliation with the PICPA, second to our membership campaign visit to GSIS during the previous quarter where we effectively invited 330 CPAs renew their membership. We owe the success of these campaign to the untiring and warm support of GSIS EVP & WMMC Adviser & Sectoral Representative for Government, Ms. Connie Manansala and to Grace and Gerry of the BSP for this thriving membership campaign. Our sincerest appreciation and gratitude for your assistance.


Inspired with the conference theme “Expanding Horizons... and Living It Up!”, officers and members of WMMC led by PICPA National President Dr. Antonio P. Tecson, MMR Director & Past WMMC President Dolly Miguel, Past President Aphat Martinez and WMMC Director/MMR Treasurer Loraine Dimayuga participated in the “7th MMR International Conference” last May 19-23, held at our Asianneighboring country, Kuala Lumpur, Malaysia.


Participants were enriched with interesting, updated and relevant topics during the six (6) technical sessions graced by CPA experts well known in their own fields of endeavor, viz: Challenges Facing the Accounting Standards Board by Mr. Ken Pushpanathan – Board Member, Malaysian Standards Board, Risk, Control & Compliance/Developing a Robust Risk Culture by Dr. Jonh HH Lee – Partner, Business Advisory of the Financial Services of KPMG Malaysia, Continuous Auditing and Controls Monitoring by Mr. Chuck Hai Lim, RAS Partner of Asia Pacific BDO Consulting, Awareness of Fraudulent Activities in Business Amidts Current Financial Crisis by Mr. Jamal Hassim, Chief Executive Officer of SyQuic Capital, Doing Business: The Malaysian Outlook by Ms. Loraine Yeoh, Executive Director for Taxation Services of Pricewaterhouse Coopers, and The Malaysian Advantage – Incentives Programs for Foreign Investors by Mr. BErnad Yap, Partner - Tax Services of the Ernst & Young, Malaysia. The conference keynote speaker, Ambassador H.E. Victoriano M. Lecaros, Ambassador of the Extraordinary and Plenipotentiary, discussed “Across the Miles: The Filipino Professional in Malaysia”.


The Conference was also highlighted not only with professional development enriching activities but also with events geared towards establishment of strong camaraderie and oneness among members such as the Fellowship Night marked by the cultural show/batik presentation and the most exciting of all events, the sight seeing/tour to the City’s famous places: King’s Palace, National Mosque, national Monument Independent Square, Chocolate Boutique, Leather Boutique and Coffee Tower, the superb and sumptuous buffet luch at the KL Revolving Tower, the group photo shoot at the Twin Tower and the shopping at the famous “Suria KLC” .




As the fiscal year 2009 closes, WMMC current and elected in-coming officers joined forces with other MMR chapter officers in the annual “Metro Manila Region Planning Conference” held last June 5-6, at the Subic Holiday Villas in Subic, Zambales where our chapter’s plans and directions for the coming year were drawn-up. The WMMC tagline emerged through the creation of the chapter banner that shows a thumb up with the explanation: “When we are okay, we make sure you are okay, and when we’re all okay, then everything else becomes…OK.” This tagline is WMMC’s answer to the pressing issues beset by PICPA during that time. We ended the conference with our unforgettable and fun-filled chapter Board Meeting at the famous Texas Joe’s House of Ribs at Waterfront, Subic Bay, Zambales.


In the true WMMC spirit of perseverance and determination, three more professional development tools aligned to update members with recent BIR regulations were offered with our ever-reliable WMMC Adviser and former BIR Regional Director as the sole resource speaker in the person of Dr. Ruperto P. Somera. Topics included, “Common Errors of Accountants in the Field on Taxation & Latest Tax Development” (June 7); “Tax Management of Hotel Construction Industry & How to Handle Tax Audit” (June 25); and “Comprehensive Corporate Income & VAT Taxation” (June 28).


Last June 18-19, I attended the Annual Chapter President’s Conference held at the Peak Room of Lancaster Hotel, Shaw Blvd., Mandaluyong City. The highlight of the conference was the Awarding and Recognition Ceremony for the “Most Outstanding Chapter President and Most Outstanding Region Chair Awards” conferred to chapter presidents and region chairs who excellently and remarkably achieved their annual plans and programs for the fiscal year 2009-2010. I am honored and proud to have been a recipient of the “Most Outstanding Chapter President” Award due to your untiring and dedicated support and cooperation to all the activities of our chapter.


I am also pleased to laud the excellent performance of the other three (3) chapter presidents of Metro Manila, namely: Mr. Henry Tan of EMMC, SMMC President Ms. Teresita Dimaculangan and Ms. Felisa Lim – President of NMMC for having received the same token, and to the Presidents of the 11 Chapters who likewise gained the same recognition. Furthermore, in behalf of our directors and advisers, I warmly extend our congratulations to MMR Chair Ms. Violeta Josef for garnering the “Most Outstanding Region Chair Award” on the same occasion.


On the same event, we also had a group discussion on the proposed amendment of the Geographical and Sectoral Policy Manual, particularly on sections affecting the Operational Funds of the GAO and the Regional Sectoral Representatives where I was tasked to present the output of our Group (Group 5). We were recognized for our presentation as we were able to deliver the desired output of the group discussion. EMMC President Henry Tan, on the other hand, presented EMMC and MMR accomplishments for the fiscal year while SMMC President Tess Dimaculangan shared her reflections as a Chapter President representing the Metro Manila Region.


On that same day, in compliance with our commitment to participate in public affairs, WMMC Past President and Adviser, Edgar Molina who represented our chapter, attended the Annual PRC Awards Night held at the Manila Hotel from 6 to 9 p.m., together with the PICPA National Directors and MMR Council Directors, The last week of June proved to be a tiring and busy week as this was marked by the series of thanksgiving dinners from all chapters in appreciation to all those who in one way or the other have dedicatedly supported us in the achievement of our plans and programs. It started with NMMC’s Thanksgiving Dinner at the Chinatown Restaurant in Banaue, Q.C. last June 23, followed by EMMC Gives Back Thanksgiving Dinner at PICPA National Office last June 24, then the unforgettable WMMC’s Thanksgiving Dinner “The Year that Was - WMMC Goes Western” held at the Social Hall of the Columns, Ayala Avenue, Makati City. and the last but not the least SMMC’s Appreciation Dinner held on the same venue last July 1, 2010.


WMMC officers also trooped to the residence of Ms. Violy Josef in Ayala Alabang to be part of her “MMR Chair Gives Back” luncheon last June 26, 2010.


WMMC’s Thanksgiving Dinner “The Year that Was - WMMC Goes Western” last June 30 was a memorable and meaningful event for us since this is the first time that we honored WMMC members who have been active as a CPA in good standing for more than 35 years and who excelled in their own fields of endeavor worthy of emulation and praise because of their outstanding achievements. Qualified awardees in our list were all luminaries and successful CPAs in their own fields and we are forever great full and elated by sharing their most precious time to accept our tokens: Dr. Antonio P. Tecson, Ricardo P. Lirio, Aida R. Apostol, Corazon D. Bautista, Atty. Emma Rosqueta, Amelia G. Segarra, Nicasio Co, and Antonio Magtalas. Our warm congratulations to you, you are our inspiration!!


Other awardees worthy of praise and recognition but were not able to attend due to earlier engagement are: Alfredo M. Velayo, Rosalina Cajucom, Alberto G. Romulo,Alicia LL. Reyes, Emerita S. Diaz, Elvira P. Atanacio, Celso Vivas, Ester Ledesma and Hon. Elenita B. Cabrera. We also extend our congratulations to other CPAs qualified for the award but were not contacted due to un-updated contact addresses.


On the same occasion, WMMC also awarded a token of appreciation to Mr. Jose Dadulla, Jr. for having attended the most number of WMMC sponsored seminars during the year, together with other five (5) awardees who were not able to attend the event due to earlier commitments: Edwin Jonh David, Ellinor Geronimo, Edgardo Licuanan, Jerry F. Lim, and Grace Perez. Thank you for supporting our seminars.


WMMC was also elated by the attendance of new officers and members of the chapter during the thanksgiving, viz: Ms. Omelia Tiangco, Director of the Philippine Stock Exhange and former EVP & Treasurer of GSIS, Mr. Armando Bajacan and Mr. Joel Guy, partners of the Senturias Jimenez & Company, Mr. Renato Zuniga, Partner of Zuniga, Tupue & Company, Mr. Jerry Fernando, Chair of the Accountancy Department of FEU and Mr.Jose Dadulla of the Jose Dadulla Agency. Our warm welcome to all of you, and we hope to see you more in our future activities.


I am also proud to share with you the three awards bestowed to our chapter during the year:


• Special Citation for 100 % Compliance in Administrative and Financial Reports for the First Quarter of Fiscal Year 2009-2010 given during the Annual Presidents Conference in the ANC November 29, 2009 at Hotel Intercontinental Hotel, Makati City


• Best Managed Chapter Award for the First Quarter of Fiscal Year 2009 on the same occasion; and

• Most Outstanding Chapter President, an outstanding leadership award given by the GARCA in recognition of my invaluable service to the Institute as President of Western Metro Manila Chapter leading our members towards the realization of our Y 2009-2010 Goals given during the Annual Presidents Conference at the Lancaster Hotel, Mandaluyong City last June 18 and 19, 2010.


Lastly, allow me to express my profound gratitude and sincere appreciation to all the officers, directors, advisers, committee chairs and members of WMMC who have unselfishly shared your unstinting support, dedicated efforts and unwavering cooperation in the realization of these accomplishments. I also extend my heartfelt gratitude to my family, especially to my husband Edgar who has always been visible in all activities no matter what, and most especially to our Dear Almighty who have been my constant source of strength and inspiration.


Truly, with our collective efforts and demonstration of zeal and excellence, we successfully accomplished our objectives and efficiently delivered more than what is expected from us. We did it because of the camaraderie that binds us together as we pursued our journey, we made it because of our love and commitment to realize our institute’s vision and mission, and we did it because of the joy and fulfillment in our hearts as we shared our time, efforts and talents in the service to our association.


My association with PICPA for the past 14 years had been so meaningful as it gave me the opportunity to nurture and enrich my professional growth, it influenced me to become a better person and a better leader, and it gave me the avenue to meet new friends from all sectors of our profession.


Our WMMC President Cynthia Molina wishes to express her deepest gratitude and appreciation to the active and dedicated officers of our Chapter for their unwavering support and cooperation in attaining all the plans and objectives of our chapter for the this quarter.





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