Focus and Features

Based on the latest industry performance posted by the Insurance Commission, with a total of 29 licensed Health Maintenance Organizations (HMOs), the HMO industry registered total assets of PhP39 billion and total net income of PhP1.7 billion in 2018, posting a double-digit increase from 2017, with net income actually increasing by 65%.

On November 12, 2015, Executive Order No. 192, series of 2015 was issued by then President Benigno Simeon C. Aquino III transferring the regulatory authority of HMOs from the Department of Health to the Insurance Commission (IC). This shift resulted to several changes on the how the industry operates with the IC issuing series of circular letters imposing guidelines and requirements on different areas and concerns.

This two-day interactive seminar-workshop intends to further strengthen the participants' knowledge and skills in auditing HMOs.

What You Will Learn

I. The Business of HMOs

  • The HMO Industry in the Philippines
  • Organization
  • Products and its Main Features
  • Clinic Operations
  • Business Processes and Internal Control Mechanisms

II. Governance, Regulatory and Compliance Framework

  • The Insurance Commission
  • HMO Standard Chart of Accounts (IC Circular Letter No. 2018-68)
  • Capital Requirement
  • Actuarial Requirements
  • Other Relevant IC Circulars

III. Audit Considerations

  • Planning and Risk Assessment
  • Working on an Audit Engagement
  • Reporting Results

IV. HMO Industry Issue: IFRS 17


Olidan Ceasar Galvez

Managing Partner at Galvez & Nicdao Consulting Co.

More about our speakers


St. Giles Hotel, Makati Avenue corner Kalayaan Avenue Makati City Philippines
Makati Avenue corner Kalayaan Avenue
Makati City, Philippines

See route

Contact us

For additional event or venue information, please email training@iia-p.orgYou can also reach us at +63 9409551

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