In a significant move to enhance financial services within the cooperative sector, the Cooperative Development Authority Cordillera Extension Region (CDA-CAR EO) has partnered with the Philippine Institute of Certified Public Accountants Baguio-Benguet-Mt. Province Chapter (PICPA BBMP). This promising collaboration was officially initiated during a visit by PICPA BBMP chapter officers to the CDA CAR EO office as part of the chapter’s activities celebrating accountancy week.

The meeting, held on July 16, 2024, brought together key leaders from both organizations, including OIC Regional Director Felicidad R. Cenon, PhD, PICPA Chapter President Candido Perez, PhD, and Ex-officio Connie Molintas. Also in attendance were other officers and staff from both the CDA and PICPA BBMP, who witnessed the formation of this pivotal partnership aimed at bringing Certified Public Accountant (CPA) services to the cooperative sector.

The partnership seeks to leverage the expertise of CPAs in enhancing the financial operations of cooperatives. Dr. Cenon highlighted the CDA’s commitment to supporting cooperatives through improved financial management and accountability. “Our collaboration with PICPA BBMP represents a significant step towards ensuring that cooperatives in the Cordillera region benefit from professional financial services. This will not only enhance transparency and trust but also promote sustainable growth within the sector,” she said.

Dr. Perez echoed these sentiments, emphasizing the vital role that CPAs play in the cooperative movement. “CPAs bring a wealth of knowledge and skills essential for the financial health of cooperatives. By partnering with the CDA, we aim to provide tailored services that address the unique needs of cooperatives, ensuring they adhere to the highest standards of financial integrity,” he stated.

The responsibilities of the CDA in this partnership include facilitating the integration of CPA services into cooperative operations, providing regulatory oversight, and ensuring that cooperatives comply with financial reporting standards. Meanwhile, CPAs will offer a range of services such as auditing financial statements, offering financial consultancy, and conducting training sessions for cooperative members on sound financial practices.

Ex-officio Connie Molintas expressed optimism about the future impact of this collaboration. The partnership will be an avenue for more robust financial management practices within cooperatives, ultimately contributing to their long-term success and the overall economic development.

The CDA-CAR EO and PICPA BBMP Chapter’s collaboration is poised to strengthen the cooperative sector by enhancing financial literacy, transparency, and accountability. As both organizations work hand-in-hand, cooperatives in the Cordillera region can look forward to a future of improved financial management and sustained growth. – AGTBadua