THE results of the May 2026 Certified Public Accountant Licensure Examination (CPALE) again raises the question about the future of the accounting profession. Out of 9,745 examinees, only 3,004 passed, or a passing rate of 30.83 percent. While we congratulate the new certified public accountants (CPAs), the results also mean that nearly seven out of 10 examinees did not make it through one of the country’s most challenging licensure examinations. As someone who has spent nearly two...

AT the start of the year, the Bureau of Internal Revenue (BIR) sent a clear message to the business sector: Tax audits have resumed, but under a refined framework. With the issuance of Revenue Memorandum Circular (RMC) 8-2026, the BIR formally lifted the temporary suspension of audit and field operations. More significantly, Revenue Memorandum Order (RMO) 1-2026 introduced a revised audit structure to promote consistency, efficiency and procedural clarity. The suspension of audits in late...

A STABLE and credible tax system is the backbone of any modern economy. For businesses, predictability, transparency and integrity in tax administration are not optional. In the Philippines, however, concerns over perceived irregularities in tax audits, particularly those involving the issuance and enforcement of letters of authority (LOAs), have reignited long-standing calls for deep reforms within the Bureau of Internal Revenue (BIR). These concerns have reached the halls of the Senate....