UST PROF NAMED MEMBER OF GOVT’S SUSTAINABILITY REPORTING COMMITTEE
A PROFESSOR from the University of Santo Tomas was appointed as member of the Philippine Sustainability Reporting Committee.
Professor Dr. Patricia Empleo, Dean of UST-Alfredo M. Velayo College of Accountancy, will be the academe’s representative and will serve the committee for three years or until 2025.
The PSRC will provide technical support to the Financial and Sustainability Reporting Standards Council in the adoption and issuance of guidelines and standards of sustainability reporting in the Philippines.
The agency is composed of 15 members representing the Bangko Sentral ng Pilipinas, Board of Accountancy, Securities and Exchange Commission, Insurance Commission, Climate Change Commission, Commission on Audit, Organizations of Major Preparers of Financial Statements, and sectoral representatives from the Public Practice and the Academe.
The PSRC was established by the Professional Regulatory Commission under the Implementing Rules and Regulations of the Philippine Accountancy Act of 2004 to assist the Board of Accountancy in carrying out its power and function to promulgate accounting standards in the Philippines.
Its main function is to establish generally accepted accounting principles in the Philippines.