QuestionsQuestions (PRC BOARD OF ACCOUNTANCY Resolution NO. 88, S. OF 2008)
The resolution cites (1) the PRC Modernization Act (R.A. 8981) which requires licensed professionals to teach licensure subjects and provides for renewal of PRC IDs, and (2) the Accountancy Act of 2004 (R.A. 9298) which treats teaching of specific business/accountancy subjects as practice of accountancy and requires CPAs to undergo Continuing Professional Education (CPE).
It covers CPAs involved in teaching accounting, auditing, management advisory services, finance (including working capital management, investment policies, and financing sources for long-term capital projects), business law, taxation, and other technically related subjects.
It applies to teaching at primary, secondary, tertiary, and graduate levels, including CPA board review schools/centers that are school-based.
The requirements in Section II, Nos. 2 and 3 (education units and meaningful accounting experience) shall not apply to CPAs already engaged in teaching as of the date of effectivity of the rules.
The CPA must possess a relevant Master’s degree. Specifically, any post-graduate degree program in business, accounting, taxation, law, education, and related fields earned from any CHED-recognized graduate school qualifies.
The CPA must complete 12 units of relevant education subjects from CHED-recognized schools. The units may be earned through an undergraduate education program or from a graduate degree program in an HEI recognized by CHED, and may also be earned via in-service or in-house trainings on these topics offered by schools or training centers; combinations are allowed.
The resolution lists (among others): Test and Measurement/Statistical Concepts for Teachers, Classroom Management Concepts for Teachers, Curriculum Design Concepts for Teachers, Instructional Materials Preparation, and Teaching and Learning with Computer-based Technologies.
CPAs who have passed the Teachers Board Exams and are already licensed Professional Teachers are exempt from the 12-units requirement.
The CPA must have a total of three years meaningful experience in actual accounting work in public practice, commerce and industry, or government. The three years may be total or cumulative and not necessarily continuing.
(1) Commerce and industry: significant involvement in general accounting, budgeting, tax administration, internal auditing, liaison with external auditors, or related functions. (2) Government: significant involvement in general accounting, budgeting, tax administration, internal auditing, liaison with COA, or related functions. (3) Public practice: at least one year as audit assistant and at least two years as auditor in charge of audit engagement covering full audit functions of significant clients.
It states the three years experience is total or cumulative and not necessarily continuing.
The CPA must prove CPE compliance either by (a) certification of CPE units from accredited CPE providers issued by an Accredited Professional Organization (presently PICPA), or (b) certificates of attendance/other proof of meaningful participation in other approved CPE programs. The CPA must earn a minimum of 60 CPE credit units for the past immediate three years, with at least 15 units earned in each year prior to renewal.
It specifies minimum allocations: Updates on Philippine Financial Reporting Standards (PFRS) including Interpretations — 15 units; Updates on Philippine Standards on Auditing (PSA) — 5 units; Updates on subject area of specialization — 10 units; Taxation — 4 units; Professional Ethics — 8 units; Updates on subject areas relevant to teacher education — 10 units; Relevant laws recently issued affecting business (as provided in IRR to R.A. 9298, Annex C) — 8 units; Total — 60 units.
No. Individual accounting teachers must register with the BOA and PRC and shall not commence to teach until a valid Certificate of Accreditation has been issued.
A sworn statement by the individual CPA that he has at least three (3) years of meaningful experience, with a detailed description of the work experience, attached to the sworn statement.
The BOA authenticates applications, passes upon them, and recommends approval or denial to the Commission not later than 60 days after receipt of applications in proper form. Upon favorable recommendation, the PRC issues the corresponding Certificate of Accreditation.
Unless sooner revoked, cancelled, or withdrawn, it is valid for three (3) years and renewable every three (3) years.
Any person who violates provisions of the resolution, upon conviction, shall be subject to penalties provided in the Accountancy Act of 2004, its IRR, and the PRC rules and regulations.
They may be issued a Provisional Accreditation valid for up to three (3) years, unless withdrawn/revoked/cancelled for cause. It may be issued only once and is not renewable. The same rule applies to CPAs joining teaching for the first time and returning teachers who have not been teaching for the last five (5) years.