20/07/2026
PICPA-Philippine Institute of Certified Public Accountants
CPAs Across Bicol Strengthen Professional Excellence in Two-Day PSA and PFRS Seminar
Accounting professionals from across the Bicol Region gathered for a meaningful two-day technical seminar focused on the latest developments in the Philippine Standards on Auditing (PSAs) and the Philippine Financial Reporting Standards (PFRS) for Small and Medium-sized Entities (SMEs) and Small Entities (SEs), reaffirming their commitment to professional competence and lifelong learning.
The seminar brought together participants from Albay, Camarines Sur, Catanduanes, and Sorsogon, providing an excellent opportunity for CPAs from different sectors to learn, exchange insights, and prepare for the evolving demands of the profession.
The first technical session was facilitated by Cesar Faustino R. Ravalo, Jr. (Sir Jun Ravalo), ACPAPP National President, who discussed the practical application of the Philippine Standards on Auditing. Conducted in preparation for the Quality Assurance Review (QAR), the session guided participants on how to effectively perform audits using the audit templates and working papers available through the PICPA website. As the PSAs are derived from the International Standards on Auditing (ISAs), participants gained valuable insights on applying globally recognized auditing standards, helping enhance the quality of their engagements and strengthening their competitiveness in the international accounting profession.
Beyond the technical discussion, Sir Jun generously shared practical tips drawn from his extensive professional experience and actively addressed questions from the participants, making the session highly interactive and relevant to the challenges encountered by practitioners.
On the second day, Jan Michael Maglinao delivered an insightful discussion on the PFRS for SMEs and PFRS for SEs, equipping participants with a clear understanding of the forthcoming changes in financial reporting requirements. His presentation highlighted the importance of staying ahead of regulatory developments to ensure continued compliance and the preparation of high-quality financial statements as the new standards are implemented.
Although facilitated by the Association of Certified Public Accountants in Public Practice (ACPAPP), the seminar was successfully conducted as a joint undertaking of ACPAPP Southern Bicol and PICPA Albay Chapter, reflecting the strong collaboration between the two professional organizations in advancing the competence of CPAs in the region.
The success of the event was made possible through the dedicated leadership and close coordination of ACPAPP Southern Bicol President Flordeliza Napili, working hand in hand with PICPA Albay Chapter President Ivan Rhett V. Macabeo and President-Elect Jessica C. Esmeña. Their shared commitment to delivering relevant and timely professional development programs ensured a meaningful learning experience for all participants.
As the accounting profession continues to evolve, initiatives such as this seminar underscore the importance of continuous learning, collaboration, and adherence to internationally aligned standards. By equipping CPAs with updated knowledge on auditing and financial reporting, the profession remains well-positioned to deliver high-quality services while meeting the changing needs of businesses and stakeholders.
To all participants from Albay, Camarines Sur, Catanduanes, and Sorsogon, thank you for your active participation, enthusiasm, and unwavering commitment to professional excellence. Your dedication to continuous learning contributes to strengthening the accounting profession throughout the Bicol Region.
