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Mr. Eugenio D. Reyes

At the SyCip, Gorres and Velayo, the country's top accounting firm, better known as SGV and Co., its top brass have earned well-deserved monickers. Washington SyCip has been called "the brain of SGV, Alfredo Velayo is known as "the heart of SGV", and a enior partner, Eugenio Reyes, is dubbed as "the conscience of GV.

Who is this man and why did he earn such a monicker? Eugenio Reyes was one of the "pioneers" of the accountancy profession in the Philippines. He was one of the Filipino partners of Fleming and Williamson, CPAs, a British firm which was one of the few companies that initiated the practice of accountancy in the country in the 1950s. In 1958, this British company merged with the SGV and Co., and since then, Reyes had been a senior partner of the Firm until his retirement in 1 980, after 22 years of service.

At SGV, Reyes was instrumental in the Firm's fast-paced growth. He was member of the company's Management Committee from 1970 to 1980, with the primary responsibility of overseeing all aspects of professional ethics and audit standards affecting the Firm. This is how the monicker "the con¬science of SGV came about.

Before the world of accountancy took Reyes, he was a brilliant Commerce student of the University of Santo Tomas, who graduated Cum Laude in 1 940. When he took the government licensure examination for accountants, it was not at all surprising that he copped the fourth place. Immediately after college, he went to the Far Eastern University for a Master in Business Administration degree. He graduated in 1 942.

From the 1940s until the 1950s, he was connected with various govern¬ment agencies. Fortunately, his integrity and professionalism in government service was recognized by President Ramon Magsaysay who appointed Reyes at first as member, and later, as Chair of the Board of Accountancy from 1956 to 1973.

From 1975 to 1976, Reyes was President of the Philippine Institute of Certified Public Accountants (PI CP A). It was during this period that the Philippine Professional Regulation Commission granted PICPA with the cer¬tificate of accreditation with the task of unifying and professionalizing all CPAs throughout the country.

In 1 976, during Reyes' second term as PICPA president, the first forum of accountants in the ASEAN was organized. He is considered as the pio¬neering spirit behind the establishment of the ASEAN Federation of Accountants (AFA) and was its first Filipino president. Another important contribution to the profession was his heading the Committee which drafted the Accountancy Act of 1967.

His contributions to the accounting profession does not stop here. He founded Mutual Books, Inc., a publishing house of accounting books whose main purpose is to print more affordable and understandable books to Filipino (accounting) students. It was able to establish connections with some well-known publishers in the United States and secured the rights to reprint and make adaptations for local consumption.

Reyes, who was born on March 20, 1920 in Bocaue, Bulacan now has, to his credit, 65 years of professional practice as certified public accountant and educator. Currently, he serves as chair, director, vice president and treasurer of 17 corporations. He is married to the former Vicenta L. Santos.

Reference:

  • TOTAL Awards 2006 Souvenir Program
    17 February 2006, UST Central Seminary Gymnasium
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