Question & AnswerQ&A (OP Administrative Order No. 8)
The Resolution prescribes the new list of documents required to support the renewal of accreditation for individual CPAs and partnerships of CPAs engaged in the practice of public accountancy.
The Certificate of Registration must be renewed every three (3) years.
No, the Board finds it unnecessary to resubmit all the original documents after initial accreditation as the qualifications were already met.
BACC Form No. 02 is a duly accomplished, notarized form with metered documentary stamps which must be submitted in three copies for renewal of accreditation.
Certified CPE units from accredited providers covering a minimum number of units over the past three years (40 units for 2007, increasing to 60 thereafter), including specific subjects such as Philippine Financial Reporting Standards, Philippine Standards on Auditing, Taxation, Professional Ethics, and relevant laws.
Yes, certified copies of all current business permits and professional tax receipts of CPAs must be submitted.
A certified copy of the current Articles of Partnership issued by the SEC must be submitted.
They must submit certified copies of documents showing the correspondent relationship, membership, or business dealings with foreign CPA firms, and a duly notarized sworn statement regarding the nature of the foreign CPA’s practice limitations in the Philippines.
A minimum of 60 CPE credit units over three years, distributed as 15 units on PFRS updates, 10 units on PSA updates, 4 units on Taxation, 4 units on Professional Ethics, and 27 units on relevant laws or other subjects approved for CPAs.
The Resolution took effect fifteen (15) days after its full and complete publication in the Official Gazette or a newspaper of general circulation.