May 2014 CPA Board Exam Postponed Indefinitely

We don’t really know what the candidates for the upcoming May 2014 CPA Licensure Examination feel about this, but, it’s true that the Professional Regulation Commission (PRC), through the recommendation of the Board of Accountancy (BOA) postponed the upcoming May 2014 CPA Licensure Examination.

First, let us know how do you feel about it.  

Keep responses coming! Latest statistics so far… 

  • Mad. It defers my becoming a CPA! – 26%
  • Glad. I have more time to prepare! – 35%
  • Frustrated. I am already prepared! – 17%
  • I don’t really care… – 9%
  • Others – 13%

The Postponement

The BOA recommended the postponement and rescheduling of the licensure exam due to the vacancies in the board leaving only two active members of the seven-member board therefore rendering the Board short of the requirement for a quorum to validly perform its duties and functions, specifically in the formulation and extraction of test items, conduct of the examination proper and releasing of the results.

PRC Resolution No. 832 series of 2014 sought to indefinitely postpone and reschedule the BLECPA until the new members of the Board have been duly appointed and qualified. Republic Act 9298, otherwise known as the “Philippine Accountancy Act of 2004”, provides that the attendance of four (4) members of the Board shall constitute a quorum to officially transact business.

The postponement was approved April 16, 2014 and was posted in the PRC website on April 21, 2014 that called mixed responses in the social media.

What’s Wrong?

As what the resolution says, inadequate members of the Board prevents it from validly conducting its business due to the absence of quorum.  What was not told us is what happened behind the vacancy, leaving only two active members in the Board.  We could recall that the release of the October 2013 CPA Board Exam Result was deferred for a week, despite of the early availability of the result due to, again, unavailability of the Board to release the results.

We heard from then that there is already an issue on the number of the active members of the Board.  Questions are:

  • Is this problem not anticipated?
  • If anticipated, how long the time is required to solve this problem?
  • Where is the bottleneck?
  • What are the plan of action committed for this problem not to take place again in the future?

It may not so easy in the point of view of the regulators to address the matter as what critics think.  But, the the problem is anticipated, the problem is known, and they are aware of it, they just have to timely act on it.  We don’t really know the twists and turns that the Board undergone trying to fill the positions up, but the lag has just became so significant.

Last time we heard, there is already a list of possible appointees with the President of the Philippines.  We wish that the CPA Board Exam be scheduled sooner as a lot of spectators awaits for the semi-annual results.

And for the next times, we hope that the government prepares for the CPA Board Exam as much as the candidates do.

Candidates’ Perspectives

We talked to some known candidates who are buying for the CPA title and they have differing views about the postponement.  Some are quite happy, because in some way, the postponement, although not expected to be long, will lengthen their preparation.  Some others, however, don’t want to prolong the agony.  Some says they really don’t care and they understand the moves of the government.

May and October are the months most awaited by many for the CPA Board Exam results, where new names are added in the roster of CPAs or same names will soon be seen in the list of examinees.  Wherever your name belongs after the CPA Board Examination, we wish you goodluck and may God bless you.

Copy of the  PRC Resolution No. 832 series of 2014 is posted below for your reading pleasure:

For the meantime, let’s wait for further announcement from the BOA-PRC.  Feel free to express your thoughts. 🙂

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