Published today (May 16, 2008) in the Philippine Daily Inquirer an article by Ms. Edel Mary D. Vegamora, CIA, the CIA Country Coordinator-Philippines, the revised version of her earlier article (posted here), this one entitled, “Filipino Auditors on Top of the World”.
There is more reason to rejoice as we have 217 more CIAs in the Philippines, the highest passing figure so far since the CIA examination was conducted in the Philippines. There was a deluge of examinees in November 2007, 496 to be exact, when The Institute of Internal Auditors Inc., International announced in January 8, 2007 that they would shift from paper to computer-based examinations beginning 2008.
Philippine National Bank and Allied Banking Corp., which are both owned by tycoon Lucio Tan, have approved a plan to merge to become the country’s fourth largest bank in terms of assets. The merged bank will retain the name Philippine National Bank.
Republic Act 8424 (Philippine Law), otherwise known as the Tax Reform Act of 1997 or the Revised National Internal Revenue Code (NIRC) of 1997, which became effective in 1998, is already more than a decade old law. It’s basically a comprehensive law that covers all national taxes from income tax for individuals and corporations, estate and donor’s tax, value added tax, other percentage taxes, excise tax on certain goods, and documentary stamp taxes.
The law is old enough that, as a matter of fact, certain provisions have already been revised just like the income tax for corporations and the Expanded Value Added Tax. What marvels me is why there’s no change, or at least any proposed changes underway (none that I heard of), in income tax for individuals.
Wesley So wins Dubai Open is the news. He had a brisk start and led the tournament till the end, with just one hiccup in the sixth round. Top Filipino grandmaster and whiz kid Wesley So never let it slip. He won the tournament with 7/9 and a 2708 performance.
FILIPINOS ON TOP OF THE WORLD: GOLD MEDALLIST & GLOBAL AWARDEES
Written for IIA by: Edel Mary D. Vegamora
CIA Country Coordinator-Philippines
In the midst of the present local political controversies, further aggravated by the disturbing developments from the U.S. impending recession, which have brought about a string of panic not only in North America’s but also in Europe’s financial markets, then creating this growing threat to asset values and liquidity (as in the case of a reputable investment bank having to be bailed out of its liquidity crunch leading to its eventual sell-off), and then bringing these to bear in our local financial markets, and while several financial institutions are presently encountering an unexpected steep fall in sales — ah, this tiny bit of news, about ordinary Filipinos establishing their mark in the global arena, is most welcome, something quite different, a breath of fresh air, indeed, must I say, against the murk of panic and depression.
The official results of the November 2007 Certified Internal Auditor (CIA) Exams for Philippines candidates are out, although the news are not yet included in the News and Events section of the IIA Philippines website as of this post. Results are also available for CFSA (Certified Financial Services Auditor) and CCSA (Certification for Control Self-Assessment) examinations.
The Gold Medal Award (Top 1), two of the Certificate of Excellence awards (Top 5), and nine of the Certificate of Honor awards (Top 25) were garnered by Filipinos. This means that aside from the Top 1, 40% of the Top 5 and 36% of the Top 25 were Filipinos!
Click PDF icon to download the results in PDF format.
The site was designed to cater to the former C.L. Manabat & Co. (Deloitte – Philippines) professionals, wherever side of the world they currently are, as a common online hang out. A community where former officemates may meet and greet each other, discuss in forums and topics of common interests, and reminisce the moments we shared during our long or even short stints in the firm.
So, calling all ex-CLMC employees to register and sign-up now for a new account. I look forward to meeting you there.
Bill Gates organizes an enormous session to recruit a new Chairman for Microsoft Europe. Exactly 5,000 candidates are assembled in a large room. One candidate is a Filipino named Mario Dimaculangan. “Thank you for coming,” Gates says. “Those who do not know Java may leave.” About 2,000 people leave the room.