MANILA — The Philippines needs more accountants. This was revealed at the Centenary Celebration of the Accountancy Profession in the Philippines gala in Manila Friday.

Professional Regulatory Board of Accountancy Chairman Noe Quiñanola said there are nearly 200,000 registered Certified Public Accountants, but there is still a big demand for more CPAs in the country.

He said accountants are among the drivers for economic growth and many businesses and agencies need more accountants now.

“We are keepers of important or critical data and that is financial information which is used in all sectors- private or public,” said Quiñanola.

Thelma Ciudadano, Chairperson of the Centenary Celebration, added many are enticed to work abroad and she hoped young Filipinos will stay as there are many opportunities in the country.

“We need more CPAs. That’s what we need now, not only in the academe, but also in all sectors in the professional organizations… since they are so magagaling, they are being hired abroad,” said Ciudadano.

One hundred veteran accountants were awarded the ‘Accountancy Centenary Award of Excellence’. Among the awardees are Transportation Sec. Jaime Bautista, Bangko Sentral ng Pilipinas Gov. Felipe Medalla, SEC Chairperson Emilio Aquino, former Sen. Manny Villar, former BIR chief Kim Henares, and many more top officials of accounting firms, businesses, and former government officials.

It was in 1923 when the discipline of accounting was legally recognized in the Philippines with a law approved creating the Board of Accountancy.

Now in 2023, officials of the board said the profession has played a role in nation-building and more are urged to join the profession in the country.