Accountants urged to uphold professional standards

A Bagong Bayani awardee and a longtime executive of Tan Holdings Corp. implored accountants and auditors in the CNMI to continue to uphold the codes and standards of their profession even at the face of the challenging economic times.

Glicerio “Eli” Arago, executive vice president of the conglomerate, delivered this message while serving as keynote speaker of the 2009 induction rites of the Marianas Institute of Filipino CPAs and Accountants held last Saturday at the Filipino Workers’ Resource Center in the Marianas Business Plaza.

“In the recent past the world has witnessed a number of corporate failures such as Enron and Worldcom brought about largely by fraud on the part of employees. This has brought the discussion of corporate governance to the fore in finance, industry and business. The behavior of corporations and the people that run these corporations have come under increased scrutiny by stakeholders and the wider public. Thus, our profession provides a critical example of the need for integrity and professionalism, and the MIFICPA has always displayed its commitment in ensuring that these principles are upheld by its members,” he said.

Arago added that the accounting and auditing profession becomes doubly critical now that the Commonwealth, like the rest of the world, is undergoing an economic downturn.

“Now, more than ever, our profession, commitment and service is crucial to the future of the Marianas. The businesses for which we work will have to make some very tough choices, choices that may determine whether the company survives or not. And they will base their decisions to a large extent, if not totally on, the result of our efforts—characterized by professionalism, commitment, and unadulterated desire to serve and save the community,” he said.

Last Saturday’s event saw the induction of MIFICPA’s 2009 set of officers led by president Melvin Malvar of Tropex Garden Co., vice president for external affairs Rene Cariaso of Century Insurance Co., and vice president for internal affairs Robert Reyes, also of Century Insurance.

Also sworn in by Philippine Consul General Wilfredo Maxino were Aileen Indino of Grant Thornton LLP, secretary; Donna Paleracio of Joeten Enterprises, assistant secretary; Ronnel Calma of Car Quest, treasurer; Cristy Villaflor of Fiesta Resort and Spa Saipan, assistant treasurer; Bebilyn Estrada of Century Insurance, auditor; Nolito Santos of Marpac, business manager; Marlon Estigoy of Hafadai Beach Hotel, public relations officer; and Irene Santiago of Shirley’s Coffee Shop, Loise Manese of Joeten Ace Hardware, Aileen Javier of Hardt Eye Clinic, Marie Luisa Taniegra of RNV Construction, and Jhocelyn Doreza of Burger & Comer PC CPA, board members. [B][I](Saipan Tribune)[/I][/B]