QuestionsQuestions (Commonwealth Act No. 342)
A person with a certificate from the Board of Accountancy is authorized to style himself and be known as a 'Certified Public Accountant' and use the abbreviated title 'C.P.A.'
Applicants must be citizens of the Philippine Islands, the United States, or foreign countries granting similar privileges to Filipino citizens, and must be over twenty-one years of age.
Applicants must be of good moral character, graduates of high schools with a four-year course or have equivalent education, and must have at least three years of practical experience in professional accounting or three years of study in accounting and commercial subjects certified by a recognized college or university.
The Board may waive the examination for persons of competent age and good moral character who hold a valid CPA certificate or similar certificate from the US, its territories, or foreign countries that grant reciprocal privileges to Filipino CPAs.
Persons engaged in professional accountancy work in the Philippines for five years or more before the application date, holding CPA or similar certificates from their country, may register if their country grants reciprocal rights and they apply before December 31, 1938.
They may be fined up to five thousand pesos, imprisoned for up to two years, or both, with each day of offense considered a separate offense.
No, CPAs or their employees are not required and shall not voluntarily disclose any confidential information obtained during professional services, except by court order or express permission from the client or their representatives.
They face the same penalty as those who falsely represent themselves as CPAs, including fines and imprisonment.
Yes, it applies to all active resident members of such partnerships or corporations, but not to non-resident members.
Persons, partnerships, or corporations engaged in accountancy may adopt, acquire, and use a trade name upon complying with relevant laws and registering the names of partners or members with the Board of Accountancy.