Embed Size (px)
Citation preview
Exciting changes have come
September 2016
Six point Expanding Horizons Strategic Plan
Our game plan to exceed global standards
More than 100 projects ongoing
Be involved
Exciting times in accounting in the Philippines
Six Point Expanding HorizonsMajor structural changes ongoingGlobalization trends in our midst CPD directionsAccreditation requirements Expanded Audit Report and KAM Quality Assurance Review BoA Publications Sectoral and IFAC Surveys I am Accountant
Major structural changes on going
Revisions in accountancy law
New accountancy tracks
Reform in CPA board examinations
High impact regulatory environment
Revisions in Accountancy Law
Revisions in accountancy law
New shift in CPA board examinations
Forthcoming new accountancy tracks
High impact regulatory environment
New Accountancy Tracks
Four Specialized accounting programs• BS Accountancy• BS Management Accounting• BS Auditing with focus on Internal and
Forensic Auditing• BS Accounting Systems
and Information Technology
Reform in CPA Board Examinations
Two Level Licensure Examination1. Core Licensure Examination for
Certified Accountants
Reform in CPA Board Examinations
Two Level Licensure Examination2. Advanced Licensure Examination
for Certified PublicAccountant and Certified Professional
Accountants
High Impact Regulatory Thrusts
MoA with the Regulators
Publication of list of accredited CPAs
Mandating cyber security measures
Whistleblower program
NOCLAR
CPD directions
New law and regulation Republic Act No. 10912 PRC Resolution No.2016-990
Gradual increase from 60 to 120 units
Shift from thematic to competency framework
Online CPD courses
Monitors and quizzes
Online monitoring of CPD units earned
CPD directions
New law and regulation Republic Act No. 10912 PRC Resolution No.2016-990
Gradual increase from 60 to 120 units
Shift from thematic to competency framework
Online CPD courses
Monitors and quizzes
Online monitoring of CPD units earned
Accreditation requirements Accreditation pursuant to Reso 3-2016
Refinements forthcoming—validity period to coincide with the professional license/birth month, preparer of FS of related companies, entity specific accreditation
BoA Resolution 70-2016 approving the amendmentof PSRS 4410
Online tracking
Multiple sectoral accreditation
Forthcoming revisions in BIR tax practitioner accreditation
Quality Assurance Review
Provided for in Section 9 (h) of RA 9892
BoA Resolution 244-2015 was issued to repeal the contested BoA Resolutions 23 and 28-009
RTC Judge issued order on June 24, 2016 dismissingthe case
BoA preparing measures for implementation, includingWB ROSC mission, structural preparation, and globalaffiliation
Sectoral Survey
Three sectoral surveys being conducted by the BoAsince 2015
Provided inputs to the various initiatives of the BoA, including the revisions of the Accountancy Law
PICPA and other organizersof events are encouraged toconduct the survey
Survey is accessible inhttp://boa.com.ph/sectoral-surveys/
IFAC Survey
Three sectoral surveys being conducted by the BoAsince 2015
Provided inputs to the various initiatives of the BoA, including the revisions of the Accountancy Law
PICPA and other organizersof events are encouraged toconduct the survey
Survey is accessible inhttp://boa.com.ph/sectoral-surveys/
Forthcoming developments
Expanded Auditors Report and KAMs
Sustainability and/or integrated reportng
Focus on SMPs
October batch: 258July batch: 289
NCR: 46.1%
For more information:
• http://www.prc.gov.ph
• http://boa.com.ph
• www.facebook.com/professional
regulatory board of accountancy
October batch: 258July batch: 289
NCR: 46.1%
An exciting and inspiring video
I am Accountant
