The accounting profession is one of the most rapidly progressing profession in the Philippines today. After given formal recognition by the Government in 1923, accountancy showed tremendous growth. One solid evidence of this growth is the ever increasing number of membership, licensure, and specialised services every year. From 43 registered accounting professionals in 1923, the number of CPAs today has grown to over 175,000.
When Accountancy Act No. 3105 was approved by the Sixth Legislature in 1923, the Board of Accountancy (BOA) was created to regulate the accounting profession practice and to issue certified public practice certificates to qualified examinees. Six years after, Philippine Institute of Certified Public Accountants (PICPA) was formed by a group of 50 CPAs, mostly practitioners, to promote and maintain high professional and ethical standards among CPAs.
Find out more about the accounting profession in the Philippines with Board of Accountancy’s infographic:
Infographic by Board Of Accountancy (BOA)
TOA Accountants By The Numbers
The Outsourced Accountant (TOA) has built a culture in the Philippines with the best accountants in the country. From seven team members in 2013, TOA has since grown to 500, where 64% are accountants. Some of these have been CFOs in their past employment while others have been part of major financial institutions.
With the huge demand for accountants and the significant inquiries TOA is getting all over Australia, New Zealand and United States, this number is projected to grow over the next 12 months. In fact, the Talent and Recruitment team is looking for more than 100 qualified accountants for both Clark and Manila offices.
See open positions for accountants and be part of our growing team!
Why should an accountant work at TOA?
TOA is built for accountants, by accountants. The company is running a culture that accountants would absolutely love to be involved in and be part of. We have invested in developing our employees with successful training courses to help accountants grow and reach their full potential.
Here are some of the training and programs available at TOA.
TOA and PICPA Partnership
Headed by Country Manager Alex Macario and Head of Training Nino Salvador Velasco, TOA held a partnership meeting with the Philippine Institute of Certified Public Accountants (PICPA) to discuss Continuing Profession Development (CPD) procedures and the smooth transition of this project from the outgoing President Ennalyn Dimla to the incoming President Marvin Mallari. Both expressed support in the ongoing accreditation of course for the CPD.
The partnership with PICPA is for TOA courses to get accredited thru the CPD program which helps accountants earn additional credit units in renewing their licenses. The courses are accredited by the Professional Regulation Commission (PRC) thru the assistance of our partner organisation, PICPA Pampanga. Here are the three areas of the training offered at TOA:
- Technical Skills which covers all accounting related courses.
- Professional Skills which covers all leadership and development courses.
- Professional Values and Skills where accountants should earn 120 credit units for the year 2019.
Partnership meeting with PICPA together with Country Manager Alex Macario,
Head of Training Nino Velasco and Executive Assistant Ethel Pelayo
PICPA officials’ meet and greet with
The Outsourced Accountant CEO Nick Sinclair and CMO Ross Dougall
Training and Development
TOA has an entire training division dedicated to developing employees’ skills on a wide range of subjects from general to specialised training courses for accountants. The Training Department creates and develops courses based on an extensive Training Needs Analysis (TNA) conducted for each employee. The TNA identifies potential knowledge and skills gap and addresses these through various courses readily available to TOA team members.
As of June 2017, a total number of 238 training was held with a staggering number of 527 participants, who are mostly accountants.
This online software certification aims mastery in the use of Xero, a cloud-based accounting software. Cloud computing is one the most impactful trend in the accounting industry and cloud is the only way to manage this. The cloud is a platform to make data accessible online anytime, anywhere, from any device.
Currently, TOA is at 70% of Xero certification and is aiming for the 100% Xero users.
Xero Certification at TOA
Aside from providing high-quality training and certification, TOA also provides training opportunities abroad. As of June 2017, over 100 accountants were sent to Australia for training. TOA clients take this opportunity to not just train their offshore staff — the accountants– but also introduce them to their clients and their culture.
Just recently, accountant Donita Rose Allanigue of Sky Accountants had been given the privilege to not just receive training from her client, but also attend QuickBooks Connect Conference held in Sydney, Australia.
Donita with Sky Accountants CEO Jamie Johns and CFO Paul Dowler
at the QBConnect Conference 2017
At The Outsourced Accountant, there is a clear career path filled with endless opportunities.
Join our growing team in Clark and Ortigas! Check the full list of our job openings at