The Professional Regulation Commission, represented by its Chairman, Atty. Teofilo S. Pilando Jr., and the Philippines Institute of Certified Public Accountants, represented by its National President, Atty. Zenaida P. Alcantara, signed a Memorandum of Agreement on the establishment of the ASEAN Monitoring Committee on Professional Accountancy Services of the Philippines (AMCPASP) last 11 January 2018 at the Philippine International Convention Center, Pasay City.

The ASEAN Mutual Recognition Arrangement on Accountancy Services provides for the establishment of a Monitoring Committee in each of the participating ASEAN Member States. The AMCPASP adopts an Assessment Statement to serve as an instrument in the evaluation of local Certified Public Accountants (CPAs) to be registered as an ASEAN Chartered Professional Accountant (ACPA).

The undertaking will usher the full implementation of the ASEAN Mutual Recognition Arrangement (MRA) on Accountancy Services to facilitate cross-border mobility of CPAs within the ASEAN region.