P&A Grant Thornton Managing Partner and Chief Operating Officer (COO) Jun Cuaresma has been appointed by the Professional Regulatory Board of Accountancy (BoA) as the chair of the Auditing and Assurance Standards Council (AASC) from July 1, 2020. The term of appointment for the AASC chairman is three years, renewable for another term.
The AASC is the body authorized by BOA to establish and promulgate generally accepted auditing standards in the Philippines. Its main objective in adopting International Auditing and Assurance Standards Board (IAASB) standards and practice statements is to attain the uniformity of local generally accepted auditing standards with IAASB pronouncements. This harmonization enhances the reliability and acceptability of the audited financial statements of Philippine companies.
Mr. Cuaresma has been in public accounting for his entire professional career. He has over 30 years of solid experience in auditing local and international companies in various industries. He has been involved in major financial due diligence and acquisition audits, including privatizing certain governments units.
In addition to his leadership role as managing partner and COO of professional services firm P&A Grant Thornton, Mr. Cuaresma heads the firm’s People and Culture Group. A cum laude accountancy graduate from the University of the East with a master’s degree in management from the Asian Institute of Management. Cuaresma received a Lifetime Achievement Award from the Association of Certified Public Accountants in Public Practice and was awarded as an Outstanding CPA in Public Practice by the Philippine Institute of Certified Public Accountants in 2016.
As published in BusinessWorld, dated 10 August 2020