Manabat named AASC chairman

MANILA, Philippines - The Auditing and Assurance Standards Council (AASC) recently announced the appointment of Roberto G. Manabat as the new chairman of the AASC from 2015 until 2017.

Manabat was sworn at a ceremony on Dec. 15, 2014 at the Tower Club, Philamlife Tower, Makati City. Manabat is currently the chairman and chief executive officer of R.G. Manabat & Co., the Philippine member firm of KPMG.

The AASC was formed in December 2005, under the Philippine Accountancy Act of 2004, by the Professional Regulation Commission (PRC) upon the recommendation of the Board of Accountancy (BoA). The AASC is the body authorized to establish and promulgate generally accepted auditing standards (GAAS) in the Philippines.

“I am proud to have the opportunity to lead AASC,” said Manabat who once served as the Securities and Exchange Commissions’ (SEC) first general accountant. “My focus will be to further reinforce the development, adoption, and implementation of high quality auditing and assurance standards among professionals of our practice. The AASC is continuously committed to strengthen public confidence in financial reporting.”

Manabat has over 40 years of track record in the field of accountancy and has been a prominent advisor to many corporate and government agencies on good governance principles and practices.

As the first general accountant of SEC, he set up the mechanism for effective financial reviews of the financial reports submitted by listed and other public companies being regulated by the SEC. Being an acknowledged leader of the accountancy profession, his presence at the SEC has resulted in greater compliance by these regulated companies and their external auditors with accounting and audit standards, especially disclosure requirements.

He is also a member of the board of trustees of the Institute of Corporate Directors, the premier organization of professional corporate directors in the Philippines promoting good corporate governance.

For more information on KPMG in the Philippines, visit www.kpmg.com.ph.