The Confederation of Southern Tagalog Rural Bankers will conduct its Annual Management Conference for 2011 on Feb. 24 and 25 at the Hotel Venezia in Legazpi City.
The announcement was made by the group’s president, Gerardo T. Auson and conference chairman Don Martin Glorioso of the Pagbilao Rural Bank in Quezon province.
Owners, officers and staff from the 152 member rural banks in the provinces of Batangas, Laguna, Quezon, Rizal and MIMAROPA will be in attendance. Considering the proximity of the venue, members of the Confederation of Bicol Rural Banks have also been invited.
The conference theme is: “Gearing Up: Striking the Balance Between Regulation and the Business”.
Indeed the challenge now among rural bankers is the balancing between banking regulations and how to continue viability and profitability especially for the smaller rural banks. Currently, one of the positive problems is proper investment of excess liquidity.
At the forefront of the rural banks’ problems is the issue of specialized accounting and internal control and governance. These positions of internal auditor and compliance officer require advance knowledge and expertise in accounting, auditing and financial analysis – working qualities found only among higher-paid professionals.
Monetary and banking authorities also mandate for improved internal and external auditing. Rural bank incomes are more on the lower side – and many cannot afford to hire auditing experts who will not just attest their financial statements but also provide both their management and Board of Directors with continuing operational analysis and regulatory guidance.
Rural banks are also favorite audit targets of BIR examiners – since their financial recordings are done daily – hence not susceptible to transactional cheating considering the clear audit trails. Their tax reportorial compliance are traditional preys for Letters of Authority. As a result, most rural bankers prefer external auditors with taxation experience – but they come with higher costs!
Among the invited speakers are from the BangkoSentralngPilipinas, local government heads, and Department of Agriculture.
The private sector is represented by CPA-lawyer Antonio P. Acyatan, chairman of Acyatan& Co., CPAs – of DFK International Accountants and Consultants. His experience as senior executive of two commercial banks and long-term external auditor of thrift and rural banks put him above the rest in terms of reliability and credibility.
On taxation, the versatile speaker is at the forefront in the fight against corruption. He heads the newly formed United Quezonians for Good Governance, with primary mission to support former COA Auditor Heidi Mendoza.
Acyatan emphasized that businessmen and bankers, and their external auditors must stand against unfair assessments. He said “the best way to stop corruption is to submit fairly presented financial statements and to pay correct taxes thereon”.