Question & AnswerQ&A (PRC BOARD OF ACCOUNTANCY Resolution NO. 126, S. OF 2008)
The Philippine Accountancy Act of 2004, specifically Article II Section 9(f), empowers the Board of Accountancy to prescribe and/or adopt a Code of Ethics for the practice of accountancy.
Advertising is acceptable if it: a) Notifies the public of matters of fact such as name, address, contact numbers, and services offered, without being false, misleading, or deceptive; b) Is in good taste; c) Is professionally dignified; d) Avoids frequent repetition or undue prominence of the firm's or accountant's name.
The resolution prohibits the following: a) Self-laudatory statements; b) Discrediting, disparaging, or attacking other firms or practitioners; c) Using or citing testimonials by third parties; d) Publishing or comparing fees or services with others; e) Emphasizing competitive differences unduly; f) Using vague, hard-to-substantiate words or phrases; g) Billboard advertising such as tarpaulins or streamers.
The use of the name of an international accounting firm affiliation or correspondence is restricted to only noting that the firm is a member or correspondent firm of the foreign firm. Any other notation implying that the foreign firm practices in the Philippines is not allowed.
No, a firm or CPA practitioner cannot identify the name of a client or client business in advertising, public relations, or marketing materials without the client's written consent.
No firm or CPA practitioner shall use the term 'Accredited' or any similar words or phrases if the claimed accreditation by BOA, SEC, BSP, or IC has expired.
All advertisements must undergo prior review and receive written approval from the Risk Management Partner and Managing Partner or their equivalents.
Professional accountants may state their name and qualifications when authoring books or articles on professional subjects but must not promote their services. They must deliver objective professional views without promotional elements and ensure materials comply with ethical standards.
Yes, they may release announcements or media releases about their anniversaries every five years, provided the announcement only contains factual matters without detailed lists of services, and is aimed at enhancing the image or standards of the profession.
A professional accountant may maintain a website that includes factual information such as the firm's name, partners/principals' names and qualifications, brief listing of services, contact details, and announcements. The website must comply with rules ensuring the information is not misleading, not promotional beyond the permitted facts, and maintained professionally.