Editor’s Note: Isla Lipana & Co. is the Philippine member firm of the PwC global network, and has the longest affiliation with a major global accounting firm dating back to 1958. Danao’s election announcement coincides with the launch of its new global strategy and 99th anniversary. Below is their story.

Roderick Danao was elected as the new chairman and senior partner of Isla Lipana & Co., the Philippine member firm of the PricewaterhouseCoopers (PwC) global network, effective July 1, 2021. The partners and principals have thereafter named Alexander Cabrera as chairman emeritus. Alex has served two terms as chairman and senior partner. 

Danao, who has more than 25 years of hands-on experience in auditing, has served as vice-chairman since 2013 and as an assurance managing partner since 2014. During his earlier assignments in the US and UK, he led the audits of listed telecommunications and media companies. “I am honored to represent the firm whose people possess the right experience and expertise. We remain agile in adapting to the dynamics of the business environment, especially those brought about by the pandemic,” said Danao. “This occasion coincides with PwC’s launch of our new global strategy, The New Equation. We align the Philippine firm’s commitments to the new strategy that focuses on the need to build trust and the need to deliver sustained outcomes.” 

Cabrera led the firm as chairman and senior partner for eight years that saw markedly innovative initiatives for the public good. As chairman emeritus, he will remain an active partner who will continue to address business and societal challenges. “At PwC, our purpose is to build trust in society and solve important problems. Bringing it to life has both been challenging and fulfilling,” Cabrera shared. “My focus areas are inclusivity, environmental sustainability, and systemic reform. These are Environmental, Social and Governance (ESG) factors that create long-term value for companies, and that makes for a good sustainable strategy.”

PwC, the world’s leading professional services network of firms, is present in 155 countries with over 284,000 people who are committed to delivering quality assurance, advisory, and tax services. In the Philippines, Isla Lipana & Co. has been rendering professional services for 99 years. 

Before his appointment as vice-chairman, Danao was the audit methodology and learning and education leader for eight years. Under the international assignment program of PwC, he worked as an audit manager in PwC offices in London (UK) and Silicon Valley (USA) from 2000 to 2003. A Certified Public Accountant (CPA), he finished his Bachelor of Science in Accountancy degree at the Polytechnic University of the Philippines in 1992. 

Cabrera, both a CPA and lawyer, specializes in tax planning, business restructuring and reorganizations, and integrated tax, legal, and accounting advice. He was a board member in PwC’s Southeast Asia regional consulting practice and is the managing partner of Cabrera and Company, the law firm he founded that is now also a PwC member firm. He is also a leader in various professional and civic organizations, such as chairman of the Integrity Initiative Inc. and vice-chair of the board of directors of ARISE-Philippines, an NGO focused on disaster risk management. He attended business courses at Harvard Business School, Wharton University, and IESE Business School. 

These milestone announcements coincide with the celebration of Isla Lipana & Co.’s 99th anniversary. – Rappler.com