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Extension of Accreditation of CPAs in Public Practice up to April 30, 2014

Are you one of those who patiently wait for the renewal of your Board of Accountancy (BOA) accreditation and can’t wait to sign auditor’s report on financial statements because your accreditation has expired on December 31, 2014?

Well, it doesn’t matter if you are a solo practitioner or a partner of a firm because here’s a good news for you!

The Professional Regulation Commission (PRC) announces the extension of the period of Accreditation of Individual Certified Public Accountants (CPAs) and Partnerships/Firms. Resolution no. 41(D) series of 2015, issued by the Professional Regulatory Board of Accountancy on March 4, 2015, extends the period of accreditation of all individual CPAs and partnerships/firms engaged in public accountancy until April 30, 2015.

Click here to read more of this post…. Continue reading

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October 2014 CPA Board Exam Results (Passers/School Performance/Topnotchers)

The October 2014 Certified Public Accountant Licensure Examination has yesterday and we are now down to the most awaited part of it – the results. There are at least 11,338 examinees who took the CPA Board Exam. The exam has been conducted in major cities around the Philippines including Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legazpi, Lucena and Tacloban last October 4, 5, 11 and 12, 2014 and finally, the results are out.

Results Announcement

The Professional Regulation Commission (PRC) announces that 4,123 out of 11,137 passed the Certified Public Accountant Licensure Examination given by the Board of Accountancy in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo, Legazpi and Lucena this October 2014.

The results were released in three (3) working days after the last day of examination. Continue reading

July 2014 CPA Licensure Examination Results

The Professional Regulation Commission (PRC) announces that 1,107 out of 5,540 passed the Certified Public Accountant Licensure Examination given by the Board of Accountancy in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo and Legazpi last July 2014.

The results were released in three (3) working days after the last day of examination.

The Board of Accountancy is composed of Joel L. Tan-Torres, Chairman; Betty C. Siy-Yap, Vice Chairman; Eliseo A. Aurellado and Gerard B. Sanvictores, Members. Continue reading

Room Assignments – July 2014 CPA Board Exam

Are you ready for the July 2014 CPA Board Exam?  We have brought to you the Schedule of Subjects for the July 2014 CPA Licensure Exam and the new schedule from the time the May 2014 CPA Board exam was postponed.

Alright, so if all is set, do you already know your room assignments? Don’t let not knowing your room assignment hinder your journey to becoming a CPA.  Check your room assignment, and if possible visit it before the examination.

Sadly, the Professionals Regulation Commission just published the room assignments on certain areas, late this week.  But don’t worry, you still have the chance to visit the place so you won’t have a hard time looking for it during the exam. Continue reading

Schedule of Subjects for the July 2014 CPA Licensure Exam

Now that the postponed May 2104 CPA Licensure Exam has been finally rescheduled on July 20, 21, 28 and 29, candidates should take note of the schedules of subjects so that they will go into the battle that they know their opponents.

Schedule of Subjects

On June 11, 2014, the Professional Regulation published in its website the new schedule of subjects is as follows:

FIRST DAY
JULY 20, 2014
(Sunday)
8:00 AM – 11:00 AM AUDITING PROBLEMS
1:00 PM – 4:00 PM PRACTICAL ACCOUNTING II
SECOND DAY
JULY 21, 2014
(Monday)
8:00 AM – 11:00 AM THEORY OF ACCOUNTS
1:00 PM – 4:00 PM AUDITING THEORY
THIRD DAY
JULY 28, 2014
(Monday)
8:00 AM – 11:00 AM MANAGEMENT SERVICES
1:00 PM – 4:00 PM PRACTICAL ACCOUNTING I
FOURTH DAY
JULY 29, 2014
(Tuesday)
8:00 AM – 11:00 AM BUSINESS LAW AND TAXATION

Continue reading

Postponed May 2014 CPA Board Examination Rescheduled in July

Good news!!! Finally, we already have the new schedule of the postponed May 2014 CPA (Board) Licensure Examination.

Well, I actually don’t know whether it is a good or bad news for those who are taking the exam since we don’t know what you feel about the postponement but nearly half of the survey respondents said that they were glad that it was postponed because they have more time to prepare. We recently informed you in our post that the May 2014 CPA Board Examination was postponed until further notice, and now, it was scheduled this July.

Continue reading

May 2014 CPA Board Exam Postponed Indefinitely

We don’t really know what the candidates for the upcoming May 2014 CPA Licensure Examination feel about this, but, it’s true that the Professional Regulation Commission (PRC), through the recommendation of the Board of Accountancy (BOA) postponed the upcoming May 2014 CPA Licensure Examination.

First, let us know how do you feel about it.   Continue reading

Punongbayan Amper & Co. – The Merger of Audit Firms

Competition is always getting tough for the big audit firms and as what other commonly say “if you can’t bet them, join them”.  “The bigger, the better” also applies as two of the known big firms in the country combine their professional practices. You read it right!  Punongbayan & Araullo (P&A) and Navarro Amper & Co. (formerly Manabat Delgado Amper & Co.) (NA&Co.,) are combining with 34 partners and more than 1,000 employees. NA&Co. is a member practice of Deloitte Touche Tohmatsu, the world’s largest, so far, while P&A is a member of the Grant Thornton International Ltd.

In the current Philippine audit practice, SyCip Gorres Velayo & Co. (EY) leads serving 40% of the market.  Coming in next were Manabat Sanagustin & Co. (KPMG) with 10.9% and Isla Lipana (PwC) with 10.6%.

In the global audit practice, Deloitte Touche Tohmatsu tops, followed by, in chronological order, PricewaterhouseCoopers, Ernst & Young and KPMG, known as the big Four (Big 4). Continue reading

International Integrated Reporting Framework Finally Released

Last September 2013, we brought to you our thoughts on the integrated reporting in our article “Integrated Reporting: The future of corporate reporting“.  We have discussed what is integrated report and integrated reporting and how it will shape the future of business.

We also mentioned that the International Integrated Reporting Council (IIRC) was developing the International Integrated Reporting <IR> Framework and was updating the consultation draft. The IIRC received 359 submissions, many of which represented a group of organizations. Submissions came from every region of the world: Africa, Central, South and North America, Asia, the Middle East, Eastern and Western Europe, and Oceania.  This article will discuss:

  • The Release of the International Integrated Reporting <IR> Framework
  • Introduction of the <IR> Framework by the IIRC
  • What it means to the Accounting Profession? Continue reading

October 2013 CPA Board Examination Results (Passers/Top Notchers/School Performances)

Finally results is released! It’s October 2013 again and everyone is excited on the results of the Certified Public Accountants (CPA) Licensure Examination (also called CPA Board Examination) in the Philippines.

CPA BOARD EXAM RESULTS FOR OCTOBER 2013 IS NOW AVAILABLE. DOWNLOAD HERE.

For the examinees, they might now have mixed emotions which include nervousness, fear, anxiety, doubt (?) and most of all, excitement.  Exactly the same feeling I felt when I took the board exam last October 2007 and maybe the same shared feeling with other examinees who took the exam.  Well, glad we made it! For the new CPAs, congratulations!  For those who will not be making it, keep trying and give your best, devote sufficient time for it and keep praying.  Who knows, one of these days, you’ll finally make it. Continue reading

New SSS contribution table effective January 2014

The Social Security System (SSS) has issued a new shedule of Social Security (SS) and Employees’ Compensation (EC).  This new schedule of contribution is effective starting the applicable month of January 2014.  Please check the new contribution table below. Continue reading

Schedule of October 2013 CPA Board Exam, Instructions & Tips

October 2013 CPA Board Examination is fast approaching, who is not excited?  Any friend, schoolmate, office mate, brother, sister, keen or simply someone you know taking this batch’s board examination?  Or it may be you, yourself.  We wish to extend our good luck to you or to them.

ROOM ASSIGNMENTS

SCHEDULES

For the information of the general public, especially for those who plan to take the board examination this October 2013 in Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo and Legazpi Cities, below is the schedule: Continue reading

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