This Competency Framework provides a roadmap for individuals in the accounting and finance field, emphasizing both core and specialized competencies necessary for success.
Core Competencies:
- Technical Proficiency – Demonstrate a solid understanding of accounting principles, financial analysis, and taxation.
- Ability to prepare and interpret financial statements.
- Proficiency in using accounting software and tools.
- Knowledge of Philippine tax laws and compliance.
- Analytical Thinking – Ability to analyze complex financial data and make informed decisions.
- Critical thinking skills in financial problem-solving.
- Capacity to identify trends and patterns in financial data.
- Skill in making data-driven recommendations.
- Ethical Leadership – Uphold the highest standards of integrity and ethical conduct.
- Adherence to professional codes of ethics.
- Demonstrate ethical decision-making in financial scenarios.
- Promote a culture of integrity and trust.
- Communication Skills – Description: Clearly convey complex financial information to diverse audiences.
- Effective written and verbal communication of financial data.
- Ability to tailor communication for different stakeholders.
- Skill in presenting financial information in a comprehensible manner.
Specialized Competencies:
- Auditing and Assurance – Proficiency in auditing processes and ethical considerations.
- Conduct effective audit planning and risk assessments.
- Knowledge of internal controls and audit evidence.
- Demonstrate ethical behavior in auditing practices.
- Financial Management – Ability to make strategic financial decisions for organizational success.
- Proficiency in capital budgeting and investment decisions.
- Skill in financial analysis and planning.
- Effective working capital management.
- Global Accounting Standards – Understanding of international financial reporting standards and global accounting practices.
- Knowledge of IFRS and GAAP.
- Awareness of the harmonization of accounting standards.
- Ability to apply global standards in a local context.
- Professional Development – Commitment to continuous learning and staying updated on industry trends.
- Active participation in professional development opportunities.
- Pursuit of relevant certifications and designations.
- Engagement in networking activities within the industry.