QuestionsQuestions (IRR Republic Act No. 10868)
It shall cover, but not be limited to, the subjects listed in the law: (a) Theory of Accounts, (b) Business Law and Taxation, (c) Management Services, (d) Auditing Theory, (e) Auditing Problems, (f) Practical Accounting Problems I, and (g) Practical Accounting Problems II.
It may revise or exclude any of the subjects and their syllabi, and add new ones as the need arises.
Under Sec. 9(m) of the Act, it has the power to prepare, adopt, issue, or amend the syllabi of subjects for examination in consultation with the academe.
To test the basic minimum professional competence of examinees seeking registration as CPAs, including adequate technical knowledge, ability to apply knowledge with good judgment to practice problems, and appreciation of ethical responsibilities and professional attitude.
To the level of a CPA at the start of his/her professional career.
The syllabus is intended to: (1) assure consistent subject matter coverage from one examination to the next; (2) assist examinees in preparing by indicating topics/sub-topics that may be covered; (3) guide in preparing test questions/problems for a fair, comprehensive, balanced examination; and (4) conform accounting educators about necessary subject matter.
Questions should emphasize technical knowledge currently relevant to the profession and adequately discussed in textbooks/professional literature; trivial, outdated, unsettled, and controversial questions should be avoided.
It should measure competence at the level of new entrants, with questions neither too easy nor too difficult, using an “easy, moderate, difficult” scale for a suitable mixture.
Not only memorized information, but sufficient depth including higher cognitive abilities such as comprehension, interpretation, application, analysis, problem-solving, and other higher-order thinking skills.
Each Professional Regulatory Board sets up test banks using the PRC computer facilities and specially authorized computer expert personnel of the PRC, under the supervision of the PRC.
They are classified by: (1) topic/concept in the approved syllabus; (2) level of difficulty (easy, moderate, difficult); (3) cognitive level (e.g., memory, comprehension, computation, application, analysis, problem solving, etc.); (4) knowledge/proficiency level; and (5) question types (objective, essay, problem-solving, design/drawing).
They shall have four (4) items for the choice of one (1) correct answer.
The choices shall not include phrases such as “none of the above,” “all of the above,” or any similar phrases.
They shall not be formulated or allowed.
They should be representative in each topic in the syllabus to ensure comprehensive and balanced coverage, and categorized by difficulty; no single topic or topics shall receive undue weight.
Two (2) sets of different arranged questions are drawn and assembled in an encrypted disk before printing.
Questions/problems should be relevant to accounting practice in the Philippines, and whenever applicable, based on pronouncements issued by PRBOA, FRSC, AASC, COA (government accounting/auditing), SEC, and PICPA; in areas not covered, references may be made to authoritative US, IASB, and IFAC pronouncements if relevant to Philippine conditions.