The Philippine Institute of Certified Public Accountants (PICPA) - Southern Mindanao Region (SMR), headed by Commission on Audit (COA) Commissioner Roland C. Pondoc, conducted the 2nd Government Summit Webinar via Zoom last 15 January 2021. The event was held in collaboration with PICPA General Santos City.
State Auditor Arjay T. Astillero of COA Regional Office No. XII was the resource speaker with the topic "Online Briefing on the Salient Points of the Government Accounting Manual (GAM) for Local Government Units (LGUs)."
The lecture aimed to facilitate the proper accounting of all financial transactions of the LGUs following the International Public Sector Accounting Standards (IPSAS) which shall be the framework for the preparation and presentation of the Financial Statements for the LGUs. Commissioner Pondoc, who is also the PICPA National Vice-President for the Government Sector, said the webinar also aims to further inform fellow accountants and those interested on how the GAM works.
Auditor Astillero talked about the legal bases, basic features and policies of GAM for LGUs and salient points of the Accounting System and Financial Reporting. The GAM prescribes the guidelines for the uniform recognition, measurement, presentation and disclosure of financial transactions, and preparation of financial reports in the LGUs. It covers the basic policies and standards, the chart of accounts, the detailed guidance for the recognition, measurement and presentation procedures, and the record and report form and formats.
After his lecture, Auditor Astillero gave time for questions and other clarifications for those who attended the webinar.
Aside from being a Certified Public Accountant, Auditor Astillero is also a Certified Fraud Examiner and the Audit Team Leader of COA Region 12 – Local Government Sector-B Team R12 No. 02.