Former Name: Rich Dad Consultancy and Financial Services (May 2003, General

Professional Partnership GPP)

Current Name: Minerva & Company, Certified Public Accountants (Sep. 1, 2010)
Partner Interviewed: Eulalio J. Minerva
Tag Line- Your business is our business.
M.I.N.E.R.V.A.
M- Minerva
I-Integrity
N-Nobility
E-Entrepreneurship
R-Result-focused
V-Versatility
A-Accountability
There are currently 5 partners
1. Eulalio J. Minerva
2. Elmer P. Minerva Senior Partner, Managing Partner
3. Edwin P. Minerva
4. Edmund P. Minerva
5. Mae Cora L. Minerva
6.
Jan. 2011- Formal Start of business
Sep. 2011- Moved to Veterans bank (address)
Services Offered
Financial Audit
- Audit and Assurance Services
Tax Services
-Taxation
Accounting Services
-General Accounting Services
Management Services
-Business Advisory
Special Audit Engagements
-H.R. Services (outsourcing)(salary scaling)
For Applicants:
-Extra-curricular activities (officers of JPIA in the School or Cebu Chapter)
-Honors (Magna, Suma Cum Laude)
-Communication skills (oral and written)
-Take written exercises upon application
Advices:
- Balance extra-curricular activities in the school
- Have
confidence,
initiative,
common sense
-Smart
-Intelligence (book smart)

1.) Culture live with the values (M.I.N.E.R.V.A.)

-like a family ang treatment (if nay maayo ug performance kay mapraise then if nay magpabadlong or dli maau ug performance kay idiscipline)
-open communication lines
*They have a new branch in Iloilo
*Manila and Cagayan branch- coming this year 2015
*In lieu of the ASEAN Intgration, the Minerva is planning to expand internationally
(Cambodia, Vietnam)
*BOA 104 (removes the Philippines from the negative list for letting CPAs practice
internationally)
*Salaries of CPAs in the Philippines is very low;
*99% of the businesses in the Philippines are SMEs (with assets 100Million and
below)
*The Philippines is advanced in accounting
*Working in audit firms is not financially rewarding specially for newbies but they
are exposed to the job of Public Practice in the firm
*While others who want to earn more go to places other than auditing firms
*They focus on discipline and learning
*Different audits, different clients
*5 years in private companies is equal to 1 year in auditing firms (knowledge and
learnings)
*Communication Skills- English
*For Promotion- evaluation is every 6 mos.
3 Areas of Responsibility of the Firm
1. To its Clients
2. People
3. Stakeholders
*Dissolution of partnership- death of partner
*Ms Arcade- Eulalios arcade which he converted into the first workplace of the firm.
*Related business- Links Business Central (Virtual Space Provider)
*Internal Issues- HR handles them
*Independence
-the employees sign a paper about their independence
-disclose blood relationship with any officers in a business
*Number 1 threat- Familiarity Threat
-Logically treat problems
-safety nets to eliminate possible doubts
*Seasonal ang business sa auditing firm
-income is usually @ year end
-cash flows should be managed well
*Cannot audit without accreditation with various entities (BSP, SEC, CDA)

*They decline engagements

-without records
-just wants to sign a report
*Survival in the competition
*Finances is very difficult to manage
From Mr. Eulalio Life is what you make of it