QuestionsQuestions (PRC BOARD OF ACCOUNTANCY Resolution NO. 126, S. OF 2008)
It is anchored on the Philippine Accountancy Act of 2004, particularly Article II, Section 9(f) (authority to prescribe/adopt a Code of Ethics) and Section 9(g) (authority to monitor conditions of accountancy and adopt measures, including rules and regulations and best practices).
Advertising and publicity in any medium are generally acceptable if they: (a) aim to notify the public of matters of fact in a not false/misleading/deceptive manner; (b) are in good taste; (c) are professionally dignified; and (d) avoid frequent repetition or undue prominence of the firm/accountant’s name.
Prohibited are: (a) self-laudatory statements; (b) discrediting/disparaging/attacking other firms or CPA practitioners; (c) referring to/using/citing actual or purported third-party testimonials; (d) publishing/comparing fees with other CPAs/CPA firms or comparing services with those of others; (e) giving too much emphasis on competitive differences; (f) using words/phrases hard to define or difficult to substantiate objectively; and (g) publishing services in billboard advertisements (tarpaulin/streamers, etc.).
It ties to the Revised Code of Ethics for Professional Accountants in the Philippines, which requires that marketing not be inconsistent with professional behavior and not involve honesty and truthful statements; thus exaggerated claims for services, qualifications, or experience are not allowed.
A firm or CPA practitioner cannot use the name of an international accounting firm affiliation/correspondence other than a notation that it is a member/correspondent firm of the foreign firm, to avoid implying that the foreign firm is practicing in the Philippines.
No, unless the client gives written consent. The resolution states that no firm or CPA practitioner shall identify the name of a client or items of a client’s business as a business in advertising/PR/marketing material meant to promote the practice, provided written consent is obtained.
It prohibits using the term “Accredited” or similar words/phrases if the claimed accreditation (e.g., BOA, SEC, BSP, or IC) has expired.
All advertisements must have prior review and written approval by the Risk Management Partner and Managing Partner (or their equivalents).
Publicity is allowed when an appointment/award of national or local importance or distinction to a professional accountant receives publicity and membership in the professional body is mentioned. However, the accountant must not use these appointments/activities for personal professional advantage.
A CPA may inform interested parties through any medium that partnership or salaried accountancy employment is being sought. But publicity for subcontract work may not be done in a way that could be interpreted as seeking to procure professional business. It may be acceptable only in professional press, and the CPA’s name/address/telephone must not appear.
A professional accountant may be listed in a directory, and entries may include name, address, telephone number, professional description, services offered, and other necessary information to contact the person or organization.
They may state their name and professional qualifications and the name of their organization, but they must not provide information about the services that their firm provides. Their content should be objective professional views, not promotional.
A CPA may invite clients, staff, or other professional accountants to attend training courses/seminars conducted for assistance to staff. Other persons should only be invited in response to an unsolicited request. It also prohibits undue prominence of the CPA’s name in related documents.
A professional accountant may publicize on behalf of clients (primarily for staff), but the emphasis must be directed toward the objectives to be achieved for the client.
A professional accountant may develop and maintain a website with suitable length/style and may include factual information such as firm name, partners/principals’ names, brief educational attainment, brief listing of services, and contact details. The website must adhere to the general rules on advertising.
Fifteen (15) days after publication in the Official Gazette or in any newspaper of general circulation.