The PICPA was founded in 1929 and is the accredited professional accountancy organization by the Philippines Professional Regulation Commission (PRC). Membership of the institute is mandatory for all professional accountants in the jurisdiction. The institute has a national office headquarters located in Manila and supports field offices throughout all regions of the country. It is primarily responsible for: (i) promoting and maintaining high professional and ethical standards among accountants by adopting a Code of Ethics for its members; (ii) developing and improving the accountancy education; (iii) protecting the CPA designation; and (iv) carrying out the fact-finding component of investigations upon the delegation and approval of the Professional Regulatory Board of Accountancy and the PRC. In addition to being an IFAC Member, PICPA is also a member of Confederation of Asian and Pacific Accountants (CAPA) and the ASEAN Federation of Accountants (AFA) and has led leadership roles in both CAPA and AFA in pursuit of their common objectives to develop the accountancy profession within the region.