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Project Information

Capacity Building on International Accounting Standards for Philippine Health Insurance Corporation (PHIC)
Description of Project

One of the major strategies of the Medium Term Philippine Development Plan (MTPDP) is the Operationalization of an accounting system for all government agencies that is in line with International Accounting Standards. Its objective is to prevent and minimize systemic risks by strengthening regulatory framework and creating an environment of transparency and accountability with the use of these international standards.

As a response to this effort, the Philippines Accounting Standards Council (ASC), in line with the accounting profession’s objective to converge Philippine accounting standards with international accounting standards, issued a number of new accounting standards, referred to as Philippine Financial Reporting Standards (PFRSs) that became effective in 2005.

As a consequence, PhilHealth needs to upgrade internal capability to generate and present financial information in an IT environment that would present fairly the results of operations and financial condition of the Corporation and as basis for decision-making, thus the rationale for this training.

This 3-componet training capacitated the PHIC participants with the necessary skills and knowledge on International Accounting Standards that will enable them adopt and apply these into the PhilHealth corporate setting in compliance to the requirements of PhilHealth management, COA as well as other major GOP stakeholders.

The specific outputs of the activity include: updated PhilHealth Accounting policies and   procedures that conforms to IAS practices

  • a detailed implementation strategy and work timetable for a roll-out of the system
  • enhanced Financial Reports to management consistent with the IAS practices
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Description of
Services Provided
  • Managed the implementation of the 3-component  training
  • Responsible for the course design following an adult learning principle and workplace training objectives
  • Provided overall oversight in the conduct of the HR Activity and ensure that the workplace development objectives are achieved following the course design, particularly the detailed training timetable.
  • Provided required experts and training management support staff
  • Facilitated team building activities
  • Provided required documentation and training reports

Arranged and managed all the logistics and administrative requirements of the training such as: transportation, food and accommodation, design and production of training materials, social programs, insurances, etc.

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Client Philippines-Australia Human Resource Development Facility (PAHRDF)
Location Metro Manila
Country Philippines
Period Covered August 2006 - December 2006
No. of Staff Months 12.00 person-months
Associated Consultant None
No. of Staff Months
Provided by
Associated Consultant
0.00 person-months