Law Summary

Introduction

This resolution pertains to the implementation of DECS Order No. 5, Series of 1990, by state colleges and universities in the Philippines, specifically concerning the standardization and regulation of accounting education.

Legal Basis

• P.D. 692 (Revised Accountancy Law)

  • Objective: To standardize and regulate accounting education.
  • Authority of the Board: Under Sec. 5 (a), the Board of Accountancy is empowered to set minimum requirements for candidates seeking admission to the CPA examination.

• Professional Regulation Commission (PRC)

  • Administrative Oversight: Under P.D. 223 and related regulations, the PRC oversees the regulation of professions and collaborates with the Board and Department of Education, Culture and Sports (DECS) on academic standards.

DECS Order No. 5, Series of 1990

• Purpose: The order mandates the phasing out of accounting majors in various Bachelor degrees and the introduction of a common course: Bachelor of Science in Accountancy.
• Objective: To professionalize the accounting profession and enhance the identity of accounting programs.

Implementation Mandate

• Authority to Enforce: The Board of Accountancy enjoins all autonomous state colleges and universities offering accounting courses to implement DECS Order No. 5.
• Requirement for CPA Examination: The common course of Bachelor of Science in Accountancy is now a prerequisite for admission to the CPA licensure examination.

Dissemination and Effectivity

• Resolution Dissemination: The resolution will be disseminated to all relevant autonomous state colleges and universities.
• Effectivity: The resolution takes effect 15 days after publication in the Official Gazette or a newspaper of general circulation.

Signatories

• Adoption: The resolution was adopted on March 5, 1992, by the following members:
  • Eduardo B. De Guia (Chairman)
  • Lupo S. Ramos (Vice-Chairman)
  • Purificacion A. Untalan
  • Jesus A. Casiao
  • Alejandro C. Reyes
  • Vicente B. Sabarre
  • Rosalinda Datu-Evangelista
• Approval: The resolution was approved by Hermogenes P. Pobre (Commissioner), Mariano A. Mendieta (Associate Commissioner), and Armando C. Pascual (Associate Commissioner).

Key Takeaways

• DECS Order No. 5, Series of 1990, establishes a standardized accounting education framework.
• The Bachelor of Science in Accountancy is mandatory for CPA licensure.
• The resolution mandates compliance from all autonomous state colleges and universities.
• The resolution will be effective 15 days post-publication, ensuring timely enforcement.