Defining The Filipino CPA’s Winning Edge

160313062_AccountantEvery race is given an equal opportunity to excel internationally. But standing on your strength rocks gives one the winning edge in the global game.

As a Filipino CPA, how do you excel and get ahead of the pack? Knowing your strength rocks give you the idea how and where to build your professional muscles to be able to jump onto the career you have been aspiring for, not just in the local field but also in the global arena. By ‘global arena’ we do not just mean working abroad, but also working locally in a multinational company, or while serving international clients.

In this article, we will emphasize the three known strength rocks that a Filipino CPA possesses. Along the lines, tough encouragement is issued to those who fall short of this supposedly winning edge.

First strength rock:  Proficiency in international standards

The Philippine Board of Investments stated in its 2011 report that there are about 2,500 to 3,000 new CPAs annually, adept in Generally Accepted Accounting Principles (GAAPs) and International Accounting Standards (IAS).

This adeptness in technical know-how is not just a statement of what is happening but is also a statement of marketing that raises the global expectation among Filipino CPAs as world-class professionals based on this criterion among others. Hence, every CPA aspirant is being tested of this norm and as such, every accounting professional should live up to it.

Second strength rock:  Command of the universally accepted language

Several papers and publications refer to this as the Filipino’s proficiency in English. We are known for this but I felt the need, not to cite supporting facts on this, but to issue a word of caution – that this claimed strength can fall to a burning weakness.

Because of this perceived strength, some Filipinos slack in improving their language skills. Some claim that they can speak better than other nationalities. Some say, “A lot of Asians and even Europeans speak English with a lot of grammatical errors so why should I even bother improving on my grammar?”

The challenge is in not making others’ weakness as your standard but to set your own standard a notch higher than the present level you are at.

On the other hand, there are Filipino professionals that master this language tool but forgot about the language goal. English is the tool, but to communicate is the goal.

Take time to invest attention in working on this second strength rock, and the horizon should not be on the tool alone but aligned to the goal of communication.

Third strength rock:  Integrity.

This is not normally part of the list and it seems a cliché to put it but a man of integrity always has the winning edge.

I once shared this question on Facebook, “What are the things you need to forego to get that something you really want?” One of the answers came from a CPA friend and she said, “(I need to give up my) job to have integrity.”

In different occasions, the international corporate world was disturbed by a number of accounting scandals. Lifting from the long list of 10 Worst Corporate Accounting Scandals by accounting-degree.org, there was the Waste Management Scandal of 1998 where they reported $1.7 billion fake earnings; the Enron Scandal of 2001 where they kept huge debts off the balance sheets; Wordlcom Scandal in 2002 where they inflated assets by as much as $11 billion; the Lehman Brothers Scandal of 2008 where they hid over $50 billion in loans disguised as sales; and the Saytam Scandal of 2009 where they falsely boosted revenue by $1.5 billion.

Amidst this sad fact is the good truth that there are still a lot of accountants with integrity that help uncover these fraudulent schemes and work toward preventing them. The business world needs them, and seeks for more of them. And this just makes the sense that having integrity spells a winning edge.

Accountants do not just prepare financial statements; instead, accountants provide information to several users to make a sound financial decision. This makes integrity paramount in the practice of accountancy.

Every profession is built upon a set of values. And one of the foundational values of the accountancy is integrity. If the value that builds this profession is ruined, then the entire profession is ruined. There is no such thing as accounting without integrity.

These three strength rocks should not come individually. They should come together, like the sides of the triangle. One or two without the other would not make the figure. These three combined is the defining factor. The first two strength rocks represent the essential technical and soft skills, and the third one represents the core of attitude. As Denis Waitley said, “The winner’s edge is not in a gifted birth, a high IQ, or in talent. The winner’s edge is all in the attitude, not aptitude. Attitude is the criterion for success.”

Do you want to become a victor in the global game? Build on these three strength rocks that define the Filipino CPA’s winning edge.

Social tagging: > > > > > > >

Leave a Reply