Exciting changes have come. September 2016
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- Dustin Evans
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1 Exciting changes have come September 2016
2 Six point Expanding Horizons Strategic Plan Our game plan to exceed global standards More than 100 projects ongoing Be involved
3 Exciting times in accounting in the Philippines Six Point Expanding Horizons Major structural changes ongoing Globalization trends in our midst CPD directions Accreditation requirements Expanded Audit Report and KAM Quality Assurance Review BoA Publications Sectoral and IFAC Surveys I am Accountant
4 Major structural changes on going Revisions in accountancy law New accountancy tracks Reform in CPA board examinations High impact regulatory environment
5 Revisions in Accountancy Law Revisions in accountancy law New shift in CPA board examinations Forthcoming new accountancy tracks High impact regulatory environment
6 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
7 Reform in CPA Board Examinations Two Level Licensure Examination 1. Core Licensure Examination for Certified Accountants
8 Reform in CPA Board Examinations Two Level Licensure Examination 2. Advanced Licensure Examination for Certified Public Accountant and Certified Professional Accountants
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10 High Impact Regulatory Thrusts MoA with the Regulators Publication of list of accredited CPAs Mandating cyber security measures Whistleblower program NOCLAR
11 Online monitoring of CPD units earned CPD directions New law and regulation Republic Act No PRC Resolution No Gradual increase from 60 to 120 units Shift from thematic to competency framework Online CPD courses Monitors and quizzes
12 Online monitoring of CPD units earned CPD directions New law and regulation Republic Act No PRC Resolution No Gradual increase from 60 to 120 units Shift from thematic to competency framework Online CPD courses Monitors and quizzes
13 Accreditation requirements Accreditation pursuant to Reso Refinements forthcoming validity period to coincide with the professional license/birth month, preparer of FS of related companies, entity specific accreditation BoA Resolution approving the amendment of PSRS 4410 Online tracking Multiple sectoral accreditation Forthcoming revisions in BIR tax practitioner accreditation
14 Quality Assurance Review Provided for in Section 9 (h) of RA 9892 BoA Resolution was issued to repeal the contested BoA Resolutions 23 and RTC Judge issued order on June 24, 2016 dismissing the case BoA preparing measures for implementation, including WB ROSC mission, structural preparation, and global affiliation
15 Sectoral Survey Three sectoral surveys being conducted by the BoA since 2015 Provided inputs to the various initiatives of the BoA, including the revisions of the Accountancy Law PICPA and other organizers of events are encouraged to conduct the survey Survey is accessible in
16 IFAC Survey Three sectoral surveys being conducted by the BoA since 2015 Provided inputs to the various initiatives of the BoA, including the revisions of the Accountancy Law PICPA and other organizers of events are encouraged to conduct the survey Survey is accessible in
17 Forthcoming developments Expanded Auditors Report and KAMs Sustainability and/or integrated reportng Focus on SMPs
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21 For more information: July batch: October batch: NCR: 46.1% regulatory board of accountancy
22 An exciting and inspiring video July batch: 289 I am Accountant October batch: 258 NCR: 46.1%
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