Board of Accountancy: Expanding Horizons

The newly appointed Board of Accountancy (BoA) is committed to pursue its mandate as prescribed in Philippine Accountancy Law of 2004 and as required by the Professional Regulation Commission (PRC) in the context of recent developments and available resources.

With the support of the PRC leadership and the various stakeholders of the profession, the BoA is ready for its mission of “Expanding Horizons.”

The plans and projects of the new BoA are categorized according to the four sectoral areas in the accountancy profession and the international area. There are also plans for the regular work and special projects.

PUBLIC PRACTICE PROJECTS

a. Enhance the delivery of the Continuing Professional Development program

b. Implement an effective Quality Assurance Review system

c. Post the list of registered and accredited CPAs in the BoA Web site

d. Mandate the submission of monitoring and management reports

e. Review the accreditation system

f. Coordinate with SEC, BSP, IC and CDA in the accreditation of CPAs in public practice

g. Institute an effective reward and sanction system

h. Streamline the audit standards setting process

i. Address the concerns of and issues pertaining to small practitioners

EDUCATION PROJECTS

a. Conduct regular review of CPA examination syllabus and subjects b. Enhance the administration of CPA licensure examination

c. Coordinate with CHEd in the regular review of the accountancy curriculum to include more emphasis in professional ethics, analytical thinking, effective communication, use of technology tools, and emerging issues

d. Coordinate with CHEd to redirect accounting schools to offer specialized courses for the various fields of accountancy

e. Review the accreditation system of accounting teachers

f. Initiate a campaign for the renewal of PRC license and membership in the APO

g. Institutionalize an internship program for accounting students

h. Conduct regular assessments of accounting schools i. Post the performance metrics of accounting schools

j. Post the list of accredited CPA teachers on the BoA Web site

k. Coordinate the holding of accounting student or school competitions in various disciplines

I. Coordinate with DepEd to ensure the quality of teachers teaching accounting subjects in K1 to 12

m. Expand JPIA involvement in accountancy issues and matters

COMMERCE & INDUSTRY PROJECTS

a. Encourage the participation of private firms in the internship program for accounting students

b. Streamline the accounting standards setting process

c. Adopt a survey and feedback sys- tem on accountancy issues and matters

d. Initiate a campaign for the renewal of PRC license and membership in the APO

e. Enhance the competence and capability of members of the audit committee of companies

f. Prescribe the issuance of a Certificate of Chief Accountant's responsibility on the preparation of the financial statements

g. Recommend more involvement of CPAs in the audit committees of companies

GOVERNMENT PROJECTS

a. Initiate a campaign for the renewal of PRC license and membership in the APO

b. Review the Continuing Professional Development

c. Pursue the mandatory inclusion of CPA qualifying standards for appointments or promotions to relevant government positions and in the exemption list of CSC Resolution No. 91-156

d. Coordinate with COA, SEC and BSP on government accounting issues and matters

e. Coordinate with BIR on erring CPAs

f. Coordinate with the DOF for the operationalization of the Tax Academy for the CPA officials and staff in the BIR, BOC and local government units

INTERNATIONAL PROJECTS

a. Pursue the finalization and implementation of the ASEAN and other countries' MRA b. Consider bidding for the hosting of the Secretariat for the ASEAN Coordinating Committee for Accountancy

c. Implement the relevant recommendations of reports of World Bank, IMF, ADB and other multilateral institutions

d. Conduct surveys or studies of best practices in other countries

e. Establish benchmarking of accountancy practices with other countries

f. Establish linkages with donor or funding agencies for future projects

SPECIAL PROJECTS

a. Pursue the immediate appointment of the three remaining vacancies

b. Establish an extension office

c. Work for the issuance of an Executive Order to create a Technical and Secretariat Support Office for the BoA

d. Pursue amendments of RA 9298

e. Expedite the release of the revised Code of Ethics

f. Accelerate the PGS Accountancy Roadmap initiative

g. Conduct a Project: Accntnt campaign

h. Initiate an "Outstanding Sectoral Organization" and other award projects

i. Encourage the establishment of more sectoral organization chapters

j. Organize a testimonial for the “Pioneers of the Profession”

k. Coordinate with PICPA in the holding of the annual AWC I. Enhance the administration of activities on the oath taking of new CPAs

m. Establish an effective social media and traditional media network

n. Come up with a regularly issued newsletter entitled “News Ledger”

o. Initiate a regular newspaper column entitled “Debit & Credit”

p. Publish a coffee-table book entitled Champion CPAs

q. Publish a Technical Research Journal called Highest Standards

r. Conduct a study to track the employment directions of new CPAs

s. Publish pertinent flyers and brochures on BoA matters

t. Pursue outreach projects including “Operation Vigilance”

u. Support the Integrity Initiative movement

v. Establish linkages with accountancy-related bodies

w. Create a BoA Web site

x. Establish a BoA Library y. Initiate the establishment of a Museum of Accountancy

z. Initiate the construction of a BoA Building

Chairman:

Joel L. Tan - Torres

Vice- chairman:

Betty C. Siy - Yap

Members:

Gerard B. Sanvictores Eliseo A. Aurellado

Professional Regulation Commission, P. Paredes Cor. Morayta St., Sampaloc, Manila, +632982.9179 boa.gov.ph@gmail.com, BOA.GOV.PH