Accounting, therefore, has a very important social purpose because it is mainly used for linguistic communication. It is the ultimate goal of CPAs to provide fair financial information that will serve as basis for decisions by relevant stakeholders. Our banks fulfill their financial intermediation role in the economy through the accounting medium.
The BSP discharges its mandates concerning money, banking and credit using the same medium. Language is empowering. As we hone our ability to speak and be understood, as well as our ability to listen and understand the accounting language, just as was SyCip enjoins us to do, we are promoting an efficient, sustainable and inclusive economy. Again, thank you very much for having me.