Luis Cañete & Company



    THE FIRM

    Luis Cañete and Company (LCC) is a small firm of certified public accountants based in Cebu City. It is composed of five (5) partners and twenty four (24) professional staff members and employees.

    The firm started as an individual practice of Luis A. Cañete on June 19, 1970. On January 11, 1971 the practice 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.

    SERVICES OFFERED

    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 for an aspect of an engagement, are not found among the staff.

    INTERNATIONAL PRACTICE AFFILIATIONS

    Luis Cañete and Company is a member firm of 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.

    ACCREDITATIONS/REGISTRATIONS

    Luis Cañete and Company or a partner is:

    • registered with the Professional Regulation Commission
    • holds a general accreditation (Category A) with the Securities and Exchange Commission to audit public companies and secondary licensees
    • is listed as selected auditor by the Bangko Sentral ng Pilipinas to audit thrift banks and other banks
    • accredited with the Bureau of Internal Revenue
    • holder of Certificate of Recognition as cooperative external auditors issued by the Cooperative Development Authority
    • accredited by the office of the Regional Inspector General for Audit of U.S. Agency for International Development to audit USAID-funded/assisted projects

    FIRM CLIENTELE

    Firm clientele include companies in fairly varied lines of business, among which are:

    • Agribusiness enterprises
    • Charitable foundations
    • Construction contractors
    • Consultancy firm
    • Cooperatives
    • Hospitals
    • Hotels, resorts
    • Holding companies
    • Industrial gases production
    • Lending investors
    • Manufacturing companies in different kinds of products for domestic and export markets
    • Membership recreational clubs
    • Motor car and truck dealers
    • Power generation and distribution companies
    • Projects of various fund-granting agencies such as USAID, PACAP, PEACE, etc.
    • Real estate development companies
    • Service contractors of various kinds
    • Shipbuilding, ship repair and shipwrecking companies
    • Shipping companies – domestic and overseas
    • Trading companies dealing in different kinds of products
    • Thrift, cooperative and rural banks
    • Universities and educational institutions

    PARTNERS AND FIRM PERSONNEL

    Existing partners of Firm are:

      Luis A. Cañete — Managing Partner

      Carmencita S. Cañete — Partner for Administration and Pre-issuance Review

      Ester L. Cerna — Assurance Partner

      Noel Peter F. Cañete — Assurance Partner

      Andrew John S. Cañete — Assurance Partner

    The Firm has twenty (20) professional accountants and four (4) administrative personnel.