The Board of Accountancy (BoA) is asking for comments on the proposed rules on accreditation of partners and staff of firms and partnerships. The draft resolution and rules on this are now posted in the BoA website and have been disseminated to the various sectoral organizations, including PICPA and ACPAPP.
Section 31 of Republic Act (RA) 9298 provides that individual certified public accountants, firms and partnerships of certified public accountants engaged in the practice of public accountancy, including the partners and staff members thereof, shall register with the Commission and the BoA, such registration to be renewed every three years. As presently implemented, the partners and CPA staff members of partnerships and firms are not being registered or accredited. This provision of law will now be implemented.
In the implementation, all partners and CPA staff members in partnerships and firms have until December 31, 2015 to file their accreditation forms in the Professional Regulatory Commission, and to complete all the Continuing Professional Development (CPD) requirements in the checklist until March 31, 2016. Those who have yet to complete their CPD requirements are given until March 31, 2016 to complete these and have to submit the Affidavit of Undertaking together with their accreditation form.
Comments on the proposed resolution can be submitted to firstname.lastname@example.org not later than December 4, 2015.
Notice: This article is published in cooperation with the Board of Accountancy Secretariat and permission was obtained to post this article in this website.