The role of public accountants

(Speech of Mr. Roberto G. Manabat, CPA Chairman and CEO of Manabat Sanagustin & Co., CPAs during the Professional Regulation Commission Board of Accountancy and Philippine Institute of Certified Public Accountants – Joint oathtaking ceremonies of new CPAs)

How do we ensure that we are always at the cutting-edge of our professional practice?

1. Keep learning, seek information, assimilate knowledge and most importantly gain wisdom. Learning happens when you read a book, a newspaper, or do e-learning in the computer. Learning happens when you listen to your mentor, observe a partner or manager in your firm. It happens when you listen to your parents and others that you hold as role models. Learning is when you inquire and are curious about why things are and find ways to answer your question. Learning is the beginning but not the end goal. Your goal is to gain wisdom, to really understand the truth about things and make them your own. To use your insights and apply them to a whole reality and make it anew. Laziness is the enemy of learning, but pride is the greatest enemy of wisdom.( CPE, compare access to resources now vs my early years, IFRS-overhaul of what we learned in school)

2. Seek a role model, find a mentor, learn from the best. In many firms, there are always opportunities to work with experienced professionals, choose a mentor that will help you build character. A good mentor will provide you with the benefit of hindsight and masterful ways of handling difficult situations.

3. Listen. The greatest peril of the modern world is its inability to listen and reflect. As auditors, from the Latin word “audire” which means to hear, our foremost job is not to explain but to listen. The great advantage of listening is learning and, indeed, it is most commonly the easiest way to gain insight. Many books will tell you “who, what, where and how,” but there isn’t quite like real experience to tell you “why.” Learn to listen well.

4. Refine your art of communication. Most people think by being able to share ideas and being able to explain concepts, one is readily communicating. But the word in itself, “communication” implies a two-way process there is an active speaker and there is a ready listener. Being able to convince or get people’s attention about what you’re saying is truly an art. And as in most arts, it requires talent but most especially practice and refinement. Despite the modern achievements in speeding up communication in many modes with which you are familiar: iPhone, iPad, Facebook etc, it seems as though our level of real communication diminishes, attention span is reduced and reflection is non-existent in the way we interact with each other. A true professional is not only knowledgeable but is capable of transmitting insights effectively to others.

5. Find your own niche. Brand yourself. Make sure people, especially people who matter like your superiors, know who you are and what you stand for. Be unique about something. Be a specialist in something. If you’re joining a big firm, don’t just be a face in the crowd, be somebody that will differentiate you from the rest (eg. industry specialist, a specialist in one complex accting standard). Remember there are thousands of you joining the workforce and there are many highly talented people.

These five tips as I want to call them are not new insights admittedly, they are not original in that sense but very much practicable. I have always tried to live by simple rules which I believe have carried me through the years. These are the same advice I tell my children and those that are entrusted to me in our firm. 

If integrity is the currency of your profession, and competency is its fuel, then relationships are the vehicles that will carry you to the future.

Relationship-building is key to a successful career in any endeavor. We build relationships one person at a time; making sure that we deal with them with fairness, going out of our way to be helpful and ensuring that we are prudent in our interaction engenders us to other people. Respect is the basis of relationship building. 

As you know, I manage one of the largest accounting firms in the Philippines, KPMG Manabat Sanagustin & Co. Some of you are already working for us, and hopefully some more will follow. Although I am the leader of a group of partners, my partners are equally important in setting the tone and direction of the firm. Having mutual respect allows us to agree, disagree and move forward in a collaborative manner for the good of all. Mutual respect is key to ensure the success of a partnership. It is no different in any other relationships.

Take care of people and not just because they are useful to you or because they are prominent, but because they are individuals, just like you and me. Make sure over time that you keep in touch, interact and reach out to them, even when you do not need them or they may not need you

In my experience, relationships grow better when the individuals do not really have any motivations or any agenda to pursue, it is in these times that you are able to really encounter one another. Building confidence takes time, be sincere, be helpful and be available.

In your careers, there will be times that you will find difficulties that seem to throw a ratchet on your way. There will be times when opportunity will knock on your door. There will be times that nothing happens. When I took over KPMG Manabat Sanagustin & Co. CPA’s, I thought I was entering the time for my retirement, and yet, here I am addressing you, having gone through five years of expansion in MS&Co., and perhaps one of the more interesting times in my professional career. You never know what life will bring, you just need to be ready for it. Be sensitive to your surroundings, be prudent in your action and be steadfast in conviction and the rest leave it up to God to show you the way! 

Roberto Manabat is the Chairman and CEO of Manabat Sanagustin & Co., CPAs, a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity.

The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG in the Philippines. For comments or inquiries, please email [email protected]or [email protected]