Admission of Non-BSA Graduates to CPA Exams

The resolution anchors on Section 14 (Qualifications of Applicants for Examination), Article III of Republic Act No. 9298 (Philippine Accountancy Act of 2004), including the qualification for holders of the Bachelor of Science in Accountancy.
The resolution is grounded on the second paragraph of Section 41, Article V of Republic Act No. 9298, which allows graduates with a Bachelor’s Degree, major in accounting to take the CPA Licensure Examination within two (2) years from the Act’s effectivity.
The resolution applies the transitory framework under Section 41 (Transitory Provision), Rule V of Resolution No. 71, Series of 2004, which provides availability of the two-year period until May 2006.
The resolution relies on the Board’s authority under Section 9 (o), Article III of Republic Act No. 9298, empowering the Board to exercise other powers implied or incidental to achieving the Act’s objectives.

The resolution addresses requests by graduates with a Bachelor’s Degree, major in accounting or by non-holders of Bachelor of Science in Accountancy who took and failed the CPA licensure examinations on or before May 2006.
The resolution aims to allow these candidates to retake the CPA Board Licensure Examination after the expiration of the two-year transitory period.
The resolution is designed to respect the candidates’ vested right to retake the examination, subject to conditions and limitations under Republic Act No. 9298 and Resolution No. 71, Series of 2004.

The Board admits graduates with a Bachelor’s Degree, major in accounting to the October, 2006 and subsequent CPA Board Licensure Examinations.
The Board also admits non-holders of Bachelor of Science in Accountancy to the October, 2006 and subsequent CPA Board Licensure Examinations.
Admission is conditional on prior admission and qualification to take the CPA Board Licensure Examination on or prior to the May 2006 examinations.
Admission is further conditioned on completion of an additional requirement if the candidate fails to pass within the specified attempt limits.

The resolution provides that if a candidate fails in two (2) complete CPA Board Licensure Examinations, the candidate must submit a Certificate of Completion of a Refresher Course.
The refresher course must be conducted under the Rules and Regulations promulgated by the Board pursuant to Republic Act No. 9298 and Resolution No. 71, Series of 2004.
The refresher-course requirement applies as the limiting condition tied to failure in two (2) complete CPA Board Licensure Examinations.

The resolution becomes effective after fifteen (15) days following its full and complete publication in the Official Gazette or in any newspaper of general circulation in the Philippines.
Copies of the resolution are to be forwarded to the PRC Application Division.
Copies are to be forwarded to all PRC Regional Offices.
Copies are to be forwarded to the Commission on Higher Education (CHED), the Philippine Institute of Certified Public Accountants (PICPA), and the Association of Certified Public Accountants in Education (ACPAE).