by Marjun C. Torres
The Dept, of Accountancy, College of Business Administration and Accountancy (CBAA) held a seminar on banking laws last October 24, 2018 at the CED amphitheater. This initiative is part of the department’s series of reinforcing lectures to enhance classroom learning. The keynote speaker was Atty. Alfonso C. Penaco IV, Senior Director, Office of the General Counsel and Legal Services of the Bangko Sentral ng Pilipinas (BSP). Atty. Penaco is a proud Mindanaoan from Ozamiz City. He discussed the following topics – New Central bank Act; The General Banking Law of 2000; Bank Secrecy Law; Unclaimed Balances law; Secrecy of Bank Deposits; Anti Money Laundering Act. These topics are recently added to the Certified Public Accountant Licensure Examination (CPALE) and are crucial to students’ performance and success in the licensure examination in the future.
It was a day of learning and fun. The program lasted from 9:00 in the morning until 5:00 in the afternoon. It was participated by 5th year accountancy students from MSU – IIT and MSU – Naawan. The Speaker also inspired students to study and become competent CPAs in the future. He then invited students to work at BSP, one the top employers in the country. Questions were raised during the seminar and good answers from students were rewarded with a commemorative coin. A group picture was taken as a fitting end to the successful activity.
The program was made possible through BSP – Cagayan de Oro who endorsed the proposed activity to BSP – Manila. The Junior Philippine Institute of Accountants officers were are key to the success of the activity as well as the the support of the administrators of CBAA headed by Dean Polaus M. Bari and the rest of the CBAA. The Accountancy department is looking forward to its second leg of its reinforcing lectures. By the second semester of 2019 representatives from Philippine Deposit and Insurance Corporation (PDIC) and the Cooperative Development Authority (CDA) will be invited.