SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte and CCaSS Associate Director Carla J. Capistrano joined the simultaneous classes organized by the Junior Philippine Institute of Accountants De La Salle University-Manila Chapter (JPIA-DLSU) via Zoom as part of its 12th Accounting Convention for Business Leaders entitled EXCEED2023 Accounting Challenge and Convention on 18 March 2022.
Event poster and Benjie (top right)
Benjie discussed sustainability reporting, developments in the practice and the role of accountants in sustainability reporting. He emphasized that as future accountants, the participants must also be familiar with sustainability aspects and how long-term value is created across stakeholders as these are now incorporated into businesses’ financial statements. With this knowledge, they would be able to help businesses understand the additional information needed to communicate their environmental and social impact.
Benjie and Carla with JPIA-DLSU participants
Carla discussed the concept of circular economy and how the Extended Producer Responsibility (EPR) Act of 2022 is driving this in the Philippines. Accountants also play an important role in that obliged enterprises must engage independent third-party auditors in their upcoming EPR compliance audit report to certify the veracity of the reported plastic product footprint generation, recovery, and overall EPR program compliance. She concluded her discussion with practical examples of circular economy and how companies have started to practice EPR in the Philippines and globally.
Aside from the simultaneous classes, the four-day business and accounting convention with the theme “Empowering Business Visionaries, Defying Socio-Economic Uncertainties” also featured a plenary, symposium, and various accounting challenges.