CLARK FREEPORT—Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera emphasized the critical role of accountants in driving business growth, urging them to uphold ethical standards that contribute to sustainable economic development.
In her keynote address at the Joint 2nd Luzon Geographical Area Office (LGAO) Conference of the Association of Certified Public Accountants in Public Practice (ACPAPP) and the Philippine Institute of Certified Public Accountants (PICPA), held at Hilltop Mimosa on October 11, Atty. Devanadera highlighted the importance of integrity within the profession, noting that the financial health of businesses and economies hinges on sound and ethical accounting practices.
“The discipline of accountants is essential in the business industry because it is logical and organized. The way accountants categorize financial data is intuitive and efficient,” she said.
Since Atty. Devanadera assumed office in 2022, the CDC has seen a rise in cash dividends remitted to the national government. Remittances increased from 700 million pesos in 2021 to 1.2 billion pesos in 2022, reaching 1.8 billion pesos in 2023. This trend indicates ongoing development within the Clark Freeport Zone.
She also discussed the economic impact of the Freeport, which hosts 1,155 locators and employs approximately 140,000 workers. She projected that CDC’s revenue for 2024 will reach 5.2 billion pesos.
Atty. Devanadera urged accounting professionals to explore opportunities within the Freeport, noting the growing demand for their services in the region’s expanding business landscape.
“The 1,155 locators are your potential clients. It’s lucrative here, and demand for your services is rising. For those of you who are practitioners, it’s going to be very lucrative because we continue to grow our revenue for 2023,” she added, highlighting the increasing need for accountants, particularly with the expansion of the business process outsourcing (BPO) industry in the country.
Despite the rise of automation, Atty. Devanadera stressed that the expertise of accountants remains critical for ensuring transparency, accountability, and fiscal responsibility.
“The demand for accountants continues to grow as we progress. However, automation cannot completely replace your role. That is something definite,” she said.
