"For those considering joining INPACT, I’d say commitment to quality is essential" | Marie Sidney S. Datiles

Dear Marie, welcome. Please tell me a little bit of the background of your firm.

Datiles Casedo & Associates CPS started in 2006 as a two-partner firm, and today, we have a team of 11 staff. We primarily handle accounting, tax, compliance, and audit engagements. Sometimes, we take on special cases, like appearing before the Court of Tax Appeals as independent CPA practitioners. Most of our clients are service-oriented, but we also work with those in the electronics and manufacturing sectors, as well as non-stock, non-profit organizations. Additionally, we handle tax compliance for individual accounts.

I would like to know if INPACT has helped you solve a problem for yourself or one of your clients.

We formally joined INPACT in 2021, though I’d already reached out to INPACT members for accounting advice in the past. Recently, we connected with a U.S. member firm to help one of our clients with an inquiry that arose from a tax audit. While they ultimately decided to manage the situation on their own, we appreciated the support we received from INPACT. The member firm gave us guidance on how to explain the requirements and stressed the importance of addressing the issue promptly.

We’ve had many other cases where INPACT has been helpful, for example, a referral for a possible internal audit services for an Indian company here in the Philippines.

So, you have been referred through other INPACT members for work in different countries. Is that correct?

Yes, INPACT has also referred us to clients in need of local expertise. One example was a U.S.-based client who needed guidance on tax consequences here in the Philippines. We advised them on tax laws and even provided scenarios for setting up a branch in Manila, and also comparing the tax impacts for regional headquarters versus other structures.

"INPACT has been instrumental in ensuring we have the right resources to respond confidently to client inquiries on accounting standards or audit practices"

Circling back to the beginning of the conversation, can you tell me a little bit more about how and why you decided to join INPACT? What was the reason for seeking an international association? And what problems have you generally helped overcome since you have been a member of INPACT in 2021?

Before joining INPACT, we were with another association. We moved because we were looking for an international affiliation that could offer strong support, particularly in audit and accounting standards. My colleague Frank came across INPACT, and it turned out to be a great fit. For instance, when we had a complex case involving expected credit loss (ECL) standards and needed to convince a client to adopt these standards, INPACT members were able to provide support. Similarly, we had a non-stock, non-profit client whose head office in France followed a different accounting standard. Through INPACT, we were able to clarify whether our Philippine branch needed to align with that standard.

INPACT has been instrumental in ensuring we have the right resources to respond confidently to client inquiries on accounting standards or audit practices. Clients appreciate knowing we have an international association of quality-driven professionals backing us. It’s reassuring to tell them that we’re part of an association that maintains rigorous standards and is committed to high-quality service, whether in accounting, audit, or tax.

What advice would you give someone that is thinking about joining INPACT? What would you say are the pros and cons to being in INPACT versus being in a different association? Or what are the key benefits?

For those considering joining INPACT, I’d say commitment to quality is essential. INPACT’s standards are high, and all members are expected to provide top-notch service. It’s also important to be open to collaboration and information-sharing across the network. For us, while some engagements may not always conclude in a transaction, we’re always willing to support member firms with insights on Philippine tax and compliance. Likewise, if we need guidance on unfamiliar accounting standards, there’s always someone we can ask.

Attending INPACT’s conference in Amsterdam in 2022 reinforced the value of shared best practices. We found that many of the challenges we face, like staffing and retention, are universal across the accounting profession. Knowing that other firms worldwide face the same issues has been enlightening. We saw that, despite any short-term challenges, there’s always demand for accounting professionals. The seminars also inspired us to consider offering new services based on what other INPACT members provide, further expanding our potential offerings here in the Philippines.