MANILA, Philippines - Audit, tax and advisory firm Punongbayan & Araullo (P&A) announced the elevation to Partnership of Chris M. Ferareza and Marites L. Apostol effective July 2011, while welcoming Michael C. Gallego, who joined P&A as Partner last May. All three are certified public accountants (CPA). Ferareza has been with P&A’s Audit & Assurance Division since he graduated with a bachelor’s degree in Accountancy, summa cum laude, from Far Eastern University. He worked for two years at the Chicago office of Grant Thornton LLP, where he participated in one of the biggest financial reconstruction projects in US history. Gallego also started his professional career at P&A as a financial and information systems auditor, then joined a global building-materials company where he held the posts of internal audit manager, Sarbanes-Oxley manager, and regional internal control manager for Europe, the Middle East, Africa and Asia. Apostol has been with the Finance & Accounting Outsourcing (F&AO) Division since 1997, where she has led outsourced accounting and payroll engagements for local and multinational companies from various industries.