[ PRC BOARD OF ACCOUNTANCY RESOLUTION NO. 64, S. of 2006, September 25, 2006 ]
ADMISSION OF GRADUATES WITH A BACHELOR S DEGREE, MAJOR IN ACCOUNTING OR NON-HOLDERS OF BACHELOR OF SCIENCE IN ACCOUNTANCY TO THE CERTIFIED PUBLIC ACCOUNTANT (CPA) BOARD LICENSURE EXAMINATION
WHEREAS, Sec. 14 (Qualifications of Applicants for Examination), Art III of R.A. No. 9298, known as the Philippine Accountancy Act of 2004 , states, to wit:
WHEREAS, the Second Paragraph of Sec. 41, Art. V of supra law is quoted as follows:
WHEREAS, Sec. 41, (Transitory Provision), Rule V of Res. No. 71, Series of 2004, known as The Rules and Regulations Implementing Republic Act No. 9298 otherwise known as the Philippine Accountancy Act of 2004 , provides for the availment of the aforesaid two-year period until May 2006 ;
WHEREAS, the Board of Accountancy (the Board) and/or the Professional Regulation Commission (the Commission) has been requested by the graduates with a Bachelor s Degree, major in accounting or the holder of non-Bachelor of Science in Accountancy who have taken and failed the CPA Board Licensure Examination on or before May 2006 to allow them to retake it after May 2006;
WHEREAS, it is just and fair that they be allowed to enjoy their vested right and to still retake the said examination subject to conditions and limitations prescribed by R.A. 9298 or Res. 71, Series of 2004 or any policy issued by the Board without anymore requiring them to obtain the Bachelor of Science in Accountancy; and
WHEREAS, the foregoing move is in accordance with Sec. 9 (o), Art. III of the supra law, which empowers the Board to exercise such other powers as may be provided by law as well as those which may be implied from or which are necessary or incidental to the carrying out of the express powers granted to the Board to achieve the objectives and purposes of this Act ;
NOW, THEREFORE, the Board RESOLVES, as it is hereby RESOLVED, to admit graduates with a Bachelor s Degree, major in accounting or non-holders of Bachelor of Science in Accountancy, to the October, 2006 and subsequent CPA Board Licensure Examination: Provided, they have been previously admitted and qualified to take the said Examination on or prior to the May, 2006 examinations; Provided, Further, that if they failed in two (2) complete CPA Board Licensure Examinations, they shall submit a Certificate of Completion of a Refresher Course conducted under the Rules and Regulations promulgated by the Board pursuant to R.A. No. 9298 and Res. No. 71, Series of 2004.
RESOLVED, FURTHER, that this Resolution shall take effect after fifteen (15) days following its full and complete publication in the Official Gazette or any newspaper of general circulation in the Philippines.
RESOLVED FINALLY, to forward copies of this Resolution to the PRC Application Division, all PRC Regional Offices, the Commission on Higher Education (CHED), the Philippine Institute of Certified Public Accountants (PICPA) and the Association of Certified Public Accountants in Education (ACPAE).
Adopted: 25 Sept. 2006
x x x (c) is a holder of the degree of Bachelor of Science in Accountancy conferred by a school, college, academy or institute duly recognized and/ or accredited by the CHED or other authorized government offices x x x x ;
WHEREAS, the Second Paragraph of Sec. 41, Art. V of supra law is quoted as follows:
All graduates with a Bachelors Degree, major in accounting shall be allowed to take the CPA Licensure Examination within two (2) years from the effectivity of this Act under the rules and regulations to be promulgated by the Board subject to the approval by the Commission ;
WHEREAS, Sec. 41, (Transitory Provision), Rule V of Res. No. 71, Series of 2004, known as The Rules and Regulations Implementing Republic Act No. 9298 otherwise known as the Philippine Accountancy Act of 2004 , provides for the availment of the aforesaid two-year period until May 2006 ;
WHEREAS, the Board of Accountancy (the Board) and/or the Professional Regulation Commission (the Commission) has been requested by the graduates with a Bachelor s Degree, major in accounting or the holder of non-Bachelor of Science in Accountancy who have taken and failed the CPA Board Licensure Examination on or before May 2006 to allow them to retake it after May 2006;
WHEREAS, it is just and fair that they be allowed to enjoy their vested right and to still retake the said examination subject to conditions and limitations prescribed by R.A. 9298 or Res. 71, Series of 2004 or any policy issued by the Board without anymore requiring them to obtain the Bachelor of Science in Accountancy; and
WHEREAS, the foregoing move is in accordance with Sec. 9 (o), Art. III of the supra law, which empowers the Board to exercise such other powers as may be provided by law as well as those which may be implied from or which are necessary or incidental to the carrying out of the express powers granted to the Board to achieve the objectives and purposes of this Act ;
NOW, THEREFORE, the Board RESOLVES, as it is hereby RESOLVED, to admit graduates with a Bachelor s Degree, major in accounting or non-holders of Bachelor of Science in Accountancy, to the October, 2006 and subsequent CPA Board Licensure Examination: Provided, they have been previously admitted and qualified to take the said Examination on or prior to the May, 2006 examinations; Provided, Further, that if they failed in two (2) complete CPA Board Licensure Examinations, they shall submit a Certificate of Completion of a Refresher Course conducted under the Rules and Regulations promulgated by the Board pursuant to R.A. No. 9298 and Res. No. 71, Series of 2004.
RESOLVED, FURTHER, that this Resolution shall take effect after fifteen (15) days following its full and complete publication in the Official Gazette or any newspaper of general circulation in the Philippines.
RESOLVED FINALLY, to forward copies of this Resolution to the PRC Application Division, all PRC Regional Offices, the Commission on Higher Education (CHED), the Philippine Institute of Certified Public Accountants (PICPA) and the Association of Certified Public Accountants in Education (ACPAE).
Adopted: 25 Sept. 2006
(SGD.) EUGENE T. MATEO Chairman |
|
(SGD.) JOHN S. BALA Vice-Chairman |
|
(SGD.) SOLITA V. DELANTAR Member |
(SGD.) MA. ELENITA B. CABRERA Member |
(SGD.) LUCILA C. TARRIELA Member |
|
ATTESTED BY: |
|
(SGD.) CARLOS G. ALMELOR Secretary Professional Regulatory Boards |
|
APPROVED: |
|
(SGD.) LEONOR TRIPON-ROSERO Chairperson |
|
(SGD.) AVELINA A. DE LA REA Commissioner |
(SGD.) RENATO B. VALDECANTOS Commissioner |