WARM congratulations to the 2,239 successful examinees in the May 2023 licensure examination for certified public accountants (CPAs). On a truly momentous occasion, these exemplary individuals took their oaths at the Philippine International Convention Center on July 6, 2023. This event, undoubtedly etched in their memories, not only signifies their official entry into the esteemed ranks of certified public accountants but also serves as a remarkable milestone for the entire accounting profession in the Philippines. The title bestowed upon them, "Centenary CPAs," is a testament to the momentous centennial celebration of the accountancy profession in the Philippines, which took place on March 17, 2023.
As we embark on the next century of excellence and innovation, these newly minted Centenary CPAs are welcomed with resounding echoes of ethical wisdom. In a heartfelt message delivered by the guest speakers, the crucial importance of consistently upholding the highest levels of professionalism, the significance of character and reputation, and building a strong professional network were passionately emphasized as these individuals embark on their journeys within the accounting profession.
Uphold utmost professionalism at all times
It is imperative that new CPAs understand and appreciate the weighty responsibility that accompanies their role — handling confidential financial information and ensuring strict adherence to regulatory standards. Upholding the utmost professionalism requires unwavering adherence to ethical principles, ensuring the safeguarding of confidential and sensitive information, exhibiting unwavering integrity, and displaying a sincere commitment to continuous learning and self-improvement. By embracing these core values, the newly certified public accountants will not only contribute significantly to the reputation and credibility of the profession but also lay a strong foundation for their own prosperous and fulfilling careers.
Your reputation is your most valuable asset
Their reputation as CPAs holds paramount importance because it directly reflects their ability to fulfill their responsibilities with integrity, trustworthiness and professionalism. Simply put, people do business with those they trust. Their reputation serves as a barometer of that trust. It carries the weight of integrity, dependability and authenticity that others seek in a business relationship. A solid and positive reputation can be the catalyst that propels them toward new opportunities, while a tarnished one can have detrimental effects on their career trajectory. Each interaction, whether it be responding promptly to emails, ensuring the performance and documentation of the audit procedures, or affixing signatures to work papers, contributes to the preservation of their reputation. With these, new CPAs are reminded to never compromise on excellence or cut corners because their reputation is their most valuable asset.
Character is the most important ingredient for success
While technical skills and knowledge are undoubtedly essential in this field, it is the intangible qualities that truly set individuals apart and pave the way for a thriving career. Upholding one's beliefs and values, even in challenging circumstances, forms the foundation of strong character. By making principled decisions and consistently displaying ethical behavior, professionals can cultivate a greater sense of self-respect and self-esteem. Other crucial dimensions of character are accountability and humility. A professional of good character takes ownership of his actions and outcomes, acknowledging both successes and failures. Despite the expertise and knowledge that come with being a CPA, recognizing that there is always room for growth and continuous learning is essential.
Your network is your capital
It is imperative to proactively seek guidance, foster a growth mindset and cultivate relationships that extend beyond mere professional connections. As aspiring CPAs embark on their journey, they are strongly encouraged to actively seek counsel from their peers and industry experts whenever they encounter uncertainties. These professionals can expand their knowledge, improve their skill sets, and make more informed decisions by actively listening and learning from others' experiences. Furthermore, friends from high school, university or review school can serve not only as a vital support system but also as valuable additions to their professional network. Recognizing the power of collaboration, new CPAs should actively engage with friends and acquaintances from these formative years, fostering relationships that go beyond social ties. These connections can provide diverse perspectives, industry insights and potential collaborative opportunities, further enriching their professional journey. As they step into the accounting profession, armed with a supportive network, they can navigate the challenges with confidence, knowing they are not alone in their path to career fulfillment.
In conclusion, the newly minted Centenary CPAs embark on their professional endeavors equipped with the ethical wisdom that underpins their success. They carry forward this torch, ensuring that ethical principles are at the core of their work. With this knowledge, they are poised to make a significant impact, contribute to the accounting profession, and forge prosperous and fulfilling careers in the dynamic and ever-evolving world of accounting.
---------------------------------------------------------------------------------------------------------------------------
Jessica Mae Gois, CPA, is the audit manager of Paguio, Dumayas and Associates, CPAs (PDAC)-PrimeGlobal Philippines and a member of ACPAPP. The views and opinions in this article are hers and do not represent those of PDAC and ACPAPP.
