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, CPAs
Profile
The company was started by two professional CPAs, Rudy B. Clemente Jr. and Greg V. Aquino. Their
mission is geared towards professionalizing the public practice of accounting and auditing in the
Northern Part of the Philippines particularly the Cordillera Region and the Ilocos Region with the vision
to become a globally competitive auditing and consulting firm. It was registered on June 10, 2013 at the
Securities and Exchange Commission and the partners are duly accredited public practitioners by the
Board of Accountancy and Bureau of Internal Revenue.
STRENGTHS
It has been able to build a good reputation amongst the small accounting firms in the
Philippines, especially in Baguio.
In a service-based industry such as accounting. A client wants to know that their accountant is
someone who will not only take the time to properly understand their business or financial
situation, but who is also interested in building a genuine and ongoing professional relationship
with them (offering better and more personalized service) so the firm thrives on that.
Due to the large amount of employees a Big Four accounting firm has, smaller clients might find
themselves dealing with different people each time as their file gets shared. In fact, some clients
may never get to know their accountants while Clemente Aquino cpa’s being a small firm can
capitalize on that
The two senior partners have a lot of experience in the profession, having been exposed to a lot
of different industries such as restaurants, cooperatives, banks, schools, fuel service stations,
fast food chains, foreign exchange remittances, food & Franchise Company, real estate,
distributorship, gasoline dealership, PEZA companies, BPOs, and non-profit organizations.
WEAKNESSES
As a small firm, there is the disadvantage that, bigger companies prefer using the bigger auditing
firms due to the reputations of these auditing firms. They have a proven track record thus
investors and other users of the financial statements tend to believe the financial statements
more, if audited by the huge accounting firms. That is why Clemente Aquino & Co., CPAs focuses
more on small to medium sized companies.
The big four accounting firms are known to have the best of the available experts since they
have huge budgets and reputation to attract them.
The wide range of experts available in bigger firms gives them an advantage over the smaller
firms’ .e.g. international issues. This automatically makes the international companies focus on
securing the top 4 audit firms over the smaller Accounting firm.
OPPORTUNITIES
As a small form Clemente Aquino & Co., CPAs has the flexibility of offering a service rate and
payment plan that both the firm and the client are happy with, unlike in the big firms where
rules and procedures have to be followed with every client.
Clemente Aquino & Co., CPAs is flexible to offer specific services as required by the client,
Instead of being forced to choose the accounting package that is closest to their needs so clients
who choose the firm are more likely to get an individually tailored range of services, which in
turn will save them from spending extra on “included services” that they don’t need.
THREATS
The changing dynamics of the industry. Most companies are moving from manual systems
to computer based systems which may require special software's to be used. They tend to
be costly. A smaller firm like Clemente Aquino & Co., CPAs may be strained by the
requirements of keeping up with the new developments.
Digitization of accounting also leads to cutting out the need for accountants, resulting to
reduced need for the accounting firm services. E.g. QuickBooks online etc.
The risk of the big four auditing firms targeting the smaller businesses
Profile
Deloitte Consulting
Category Consulting
Deloitte STP
Segment Companies looking for business and management consulting
1. Owing to the financial and audit expertise, Deloitte could help in Global financial services
2. They could pursue more of mid-market businesses
Opportunities 3. Acquisition of smaller firms could further strengthen the Deloitte brand
1. Stiff competition from existing industry players can reduce Deloitte's market share
2. Fluctuations in currencies affects international projects
Threats 3. Companies setting up their own knowledge centres can reduce business of consulting firms
Competition