Luis Cañete & Company
Luis Cañete and Company (LCC) is a small firm of certified public accountants based in Cebu City, Philippines. The firm started as an individual practice of Luis A. Cañete on June 19, 1970. It was converted into partnership and registered with the Securities and Exchange Commission on March 11, 1971. The partnership life was extended in 1983, 1993, 2007 and 2013.
Luis Cañete and Company is a member since year 2000 of KS International, now merged as Morison KSi, a multi-national association of independent accounting firms based in London. Luis Cañete and Company had been a correspondent firm of Klynveld Peat Marwick Goerdeler (KPMG) thru its Philippine Member firm Fernandez, Santos & Lopez up to June 30, 1998 when KPMG switched to another Philippine firm.
Luis Cañete and Company or a partner is:
Luis Cañete and Company offers a full range of CPA firm services such as audit, tax and business consulting services. On tax work, the firm had advised some clients on tax implications of contemplated transactions, assisted some clients in tax investigations and had performed tax planning. On business consulting services, the firm had prepared financial projections, project feasibility studies, situations analyses work and budgets, had designed and installed accounting systems, had assisted clients in registration with the Securities and Exchange Commission, with incentive-granting government agencies, and had done general business counseling and other management services work. LCC has working arrangements with some consultants whenever persons of appropriate orientation or discipline are not found among the staff, for an aspect of an engagement.
Firm clientele include companies in fairly varied lines of business, among which are:
The Partners and Staff.
The firm is presently composed of five (5) partners and has eighteen (18) professional accountants and four (4) administrative personnel. The partners are:
Luis A. Cañete — Managing Partner
Carmencita S. Cañete — Partner for Administration and Pre-issuance Review
Ester L. Cerna — Engagement Partner
Noel Peter F. Cañete — Engagement Partner
Andrew John S. Cañete — Engagement Partner
LUIS A. CAÑETE — Managing Partner
Luis has been a practicing Certified Public Accountant for over fifty (50) years. He was a consistent honor student who graduated high school as Class Valedictorian at Southern College in 1956. He received his degree in Bachelor of Science in Commerce from University of Southern Philippines (Magna Cum Laude) in 1960 and passed the CPA board examination in the same year. He finished his Master of Business Administration degree from University of the Philippines–Cebu College in April 1971. He also passed the Real Estate Brokers Examinations in 1988.
Luis worked his ground before achieving his current status. He started as a Bookkeeper in Filipinas Inter-Island Corporation from January 1962 to January 1963. He became Assistant Chief Accountant of William Lines, Inc. from February 1963 to March 1966. He was a Specialist in the Management Services Section of General Milling Corporation from April 1966 to July 1967. He then worked as Internal Audit Manager of Aboitiz and Company, Inc. and its subsidiaries.
His passion for teaching made him serve as a CPA Reviewer and a professorial lecturer in accounting in his Alma Mater, the University of Southern Philippines. He also further honed his teaching skills as Senior Lecturer in Management – Master of Business Management Program in University of the Philippines–Cebu College.
Luis was also invited to speak in group discussions, among which are seminar on Tax Compliance Audit for Aboitiz Group of Companies, Professional Practice forum for Association of Certified Public Accountants in Public Practice, PICPA 50th Annual National Convention and Financial Management conducted by Philippine Business for Social Progress.
He is an active member of various organizations like Cebu Chamber of Commerce and Industry, Cebu Realtor’s Board, Financial Executives Institute of Cebu, Inc. and Casino Español de Cebu, Inc.
His drive for leading an organization was constantly recognized by his colleagues. He was elected as National Director for Association of Certified Public Accountants in Public Practice (ACPAPP), and was President of such organizations as PICPA Cebu Chapter, Rotary Club of Cebu Lahug and University of Southern Philippines Alumni Association.
He is a fellow of Institute of Corporate Directors, a non-stock, not-for-profit organization dedicated to the professionalization of Philippine Corporate Directorship, as well as raising the level of the country’s corporate governance policy and practice to world-class.
His distinguished achievements were recognized as he was honored as Golden Jubilee Outstanding Alumni of his high school Alma Mater, 1998 Outstanding CPA in Public Practice Award by the Philippine Institute of Certified Public Accountants and Outstanding Alumnus by USP Alumni Association in 2003.
Luis served as Member of the Board of Accountancy, the regulatory body for the accounting profession in the Philippines from March 2010 to December 2013.
Luis is married to the former Carmencita Sanchez. They have eight children. He is a family man who loves listening to standard songs.
CARMENCITA SANCHEZ–CAÑETE — Partner for Administration and Pre-issuance Review
Carmencita, or Carmen, as she is fondly called, has been a practicing Certified Public Accountant for over fifty (50) years. She received her degree in Bachelor of Science in Commerce (Cum Laude) from the University of Southern Philippines in March 1962. She passed the Certified Public Accountant examinations in the same year.
Carmen is an expert in multi-tasking and she handled successfully each assumed position. Right after she earned her degree, she served as Chief Accountant in A. L. Climaco Industries, Inc. from 1962 to 1969. She then became Comptroller for Climaco Furniture Co., Inc. for twenty-three (23) years thereafter until 1992. She further enhanced her skills by becoming Treasurer/Corporate Secretary of Castilex Industrial Corporation for nineteen (19) years from 1978 to 1997 as well. While working in these companies, she also joined as Administrative Manager of Luis Cañete and Company, CPAs in 1977. She was later admitted as Partner for Administration and Pre-issuance Review in 1983. Her vast experience and expertise support the growth of the CPA firm as she rigorously reviews or updates the Company processes and needs of each staff.
She is married to Luis Cañete, the Managing Partner of Luis Cañete and Company, CPAs. She is as committed as her husband in her chosen profession. They also share the same passion for teaching as she served as Accounting Instructor in their Alma Mater, the University of Southern Philippines from 1967 to 1969. They were blessed with eight (8) children who are all active in pursuit of chosen career paths.
Amidst her tight schedule with work and family being supportive wife and mother, Carmen is also active in religious activities and congregations.
ESTER LIM–CERNA — Engagement Partner
Ester is a dedicated practicing Certified Public Accountant for over forty (40) years. She received her degree in Bachelor of Science in Commerce (Cum Laude) from University of San Carlos in March 1975, the following year, she passed the Certified Public Accountant Examinations.
Armed with knowledge accumulated in school and strong determination to explore her chosen career, she joined Luis Cañete and Company, CPAs as a Junior Audit staff in February 1976. Her outstanding performance for 17 years was rewarded with her admission as Partner in November 1993. Her expertise in business assurance, consultancy and tax advisory is considered as one of the pillars of the company to which she dedicated her whole lifetime career.
Ester is a loving wife to Antonio Cerna. She is also passionately interested in collecting female Santa Claus figurines and solving crossword puzzles in her free time.
NOEL PETER F. CAÑETE — Engagement Partner
Noel or Nowe, as he is fondly called, is a practicing Certified Public Accountant for over twenty-two (22) years. He finished his degree in Bachelor of Science in Commerce (Cum Laude) from University of San Carlos in March 1993. He passed the CPA board examinations in the same year. He took Master of Management in Business Management from University of the Philippines–Cebu College in May 2005.
Determined to apply and hone his acquired skills in college, he joined Luis Cañete and Company, CPAs as a Junior Audit staff in January 1994. As a young auditor, he immersed himself in the holistic training of the firm where he further developed his well-rounded skills in audit, tax advisory and consultancy. He was later admitted as a Partner in November 2007 due to his unparalleled dedication at work. During his tenure, he represented various clients in the Court of Tax Appeals. He was also invited to speak in Tax Compliance Audit Seminar for Aboitiz Group of Companies.
Noel is happily married to his devoted wife, Janice Himpesao. He is also fascinated with photography and his collection of mini luxury cars.
ANDREW JOHN S. CAÑETE — Engagement Partner
Andrew, or sometimes fondly called as Drew or Drake, is a practicing Certified Public Accountant for over eleven (11) years. He received his degree in Bachelor of Science in Accountancy from Xavier University – Ateneo de Cagayan in March 2004. He passed the CPA board examinations in May 2005.
After receiving his degree, he joined Luis Cañete and Company, CPAs as Junior Audit staff in August 2005 for the advancement of his Accounting profession. He devoted his whole lifetime career in this firm with unwavering commitment to its success. He is known for his tenacity for quality of work and attention to details. His valuable contribution to this firm was rewarded when he was admitted as Partner in November 2012. He was well-founded expertise in business assurance, tax advisory and consultancy.
Apart from being a supportive son, he is also interested in various physical activities like basketball, table tennis, among others.
Luis Cañete & Company
Luis Cañete & Company
3F Oftana Building, Jasmin Corner Don Mariano Cui Streets, Capitol Site, Cebu City
T: +63 32 255 3428
T: +63 32 255 2491
F: +63 32 254 3591
Luis Cañete firstname.lastname@example.org
Ester Cerna email@example.com