Draft CPD 60-120hrs

PROFESSIONAL REGULATORY BOARD OF ACCOUNTANCY
Resolution No. ________

Series of 2016
INCREASINGTHEREQUIREDCPDUNITSFROM60TO120CREDITUNITSINA
COMPLIANCEPERIODOFTHREE(3)YEARSFORALLCPAsREGARDLESSOF
AREA/SECTOROFPRACTICEANDCHANGINGTHEMATICAREASTO
COMPETENCEAREASWHICHSHALLBECATEGORIZEDINTOTECHNICAL
COMPETENCE,PROFESSIONALSKILLSANDPROFESSIONALVALUES,ETHICSAND
ATTITUDES

WHEREAS, Section 32 of Republic Act 9298 otherwise known as the Philippine
AccountancyActof2004statesthatallcertifiedpublicaccountantsshallabidebythe
requirements, rules and regulations on continuing professional education to be
promulgated by the Board of Accountancy, subject to the approval of theProfessional
Regulation Commission, in coordination with the accredited national professional
organization of certified public accountants or any duly accredited educational
institutions. For this purpose, a CPE Council is hereby created to implement the CPE
program;
WHEREAS, Board Resolution No. 59, Series of 2012 entitled Clarifications and
Amendments on the Rules and Regulations on Continuing Professional Education and
Accreditation of CPAs in Public Accountancy and Accounting Education changed the
term Continuing Professional Education (CPE) to Continuing Professional Development
(CPD) and required 60 credit units of CPD which may be earned by an individual
professionalinanyofthethreeyearsprecedingtheyearofapplicationforaccreditation
forthepracticeofpublicaccountancyandaccountingeducation;
WHEREAS,BoardResolutionNo.3,Seriesof2016entitledRequiringtheSubmissionof
CertificatebyResponsibleCertifiedPublicAccountantsontheCompilationServicesfor
the Preparation of Financial Statements and Notes Thereto states that the CPAs
preparingthefinancialstatements,notestothefinancialstatementsandtheCertificate
of Compilation Services shall first be accredited by the Board of Accountancy after
submitting the necessary application requirements, including compliance with the
Continuing Professional Development (CPD) requirements prescribed in existing rules
andregulations.
WHEREAS,No.34ofInternationalEducationStandardsoftheInternationalFederation
ofAccountants(IFAC)definesCPDasthelearninganddevelopmentthatdevelopsand
maintains professional competence to enable professional accountants to continue to
performtheirrolescompetently.CPDprovidescontinuingdevelopmentofthelearning
outcomes for (a) technical competence, (b) professional skills, and (c) professional
values, ethics, and attitudes which were achieved during Initial Professional
Development;
WHEREAS, the Philippine Institute of Certified Public Accountants (PICPA), the

Accredited Integrated Professional Organization (AIPO) of CPAs in the Philippines, has
among its objectives the promotion and maintenance of high professional and ethical
INCREASINGTHEREQUIREDCPDUNITSFROM60TO120CREDITUNITS
INACOMPLIANCEPERIODOFTHREE(3)YEARSFORALLCPAsREGARDLESSOF
AREA/SECTOROFPRACTICEANDCHANGINGTHEMATICAREASTOCOMPETENCE
AREASWHICHSHALLBECATEGORIZEDINTOTECHNICALCOMPETENCE,PROFESSIONAL
SKILLSANDPROFESSIONALVALUES,ETHICSANDATTITUDES
standards among accountants, the advancement of the science of accounting, and

developmentandimprovementofaccountancyeducation.
WHEREAS, PICPA being a member of the IFAC has an obligation to comply with the
StatementofMembershipObligations(SMO)No.2InternationalEducationStandards
for Professional Accountants (IES) and Other Pronouncements Issued by the
InternationalAccountingEducationStandardsBoard.
WHEREAS, IES 7 states that IFAC member bodies implementing an inputbased

approachshallrequireeachprofessionalaccountantto:(a)Completeatleast120hours
(or equivalent learning units) of relevant professional development activity in each
rolling threeyear period, of which 60 hours (or equivalent learning units) shall be
verifiable; (b) Complete at least 20 hours (or equivalent learning units) of relevant
professional development activity in each year; and (c) Measure learning activities to
meettheaboverequirements.
WHEREAS,aseriesofconsultativemeetingswiththeCPDCommitteesofPICPA,andthe
sectoral organizations (Association of CPAs in Public Practice, National Association of
CPAs in Education, Association of CPAs in Commerce and Industry, and Government
Association of CPAs) were made in order to come up with an effective and more
relevantCPDprogramforthedifferentareas/sectorsofpracticeforCPAs;
WHEREAS, in the said consultative meetings the stakeholders agreed to increase the
required CPD credit units from 60 to 120 over a 3year period for all CPAs in Public
Practice,Education,CommerceandIndustryandGovernment,andtochangethematic
areastocompetenceareasinaccordancewithIES.
WHEREAS,RA9298ImplementingRulesandRegulationsAnnexCitem7providesthat
registered professionals shall be permanently exempted from CPE requirements upon
reachingtheageof65yearsold.
WHEREAS, the Philippines being a member of the Association of Southeast Asian

Nations(ASEAN)andasignatorytotheMutualRecognitionArrangementforAccounting
Services, thereby making it a necessity forprofessionalaccountants to keep and
maintain competitiveness vis a vis their Southeast Asian counterparts, in view of the
ASEANEconomicIntegration.Suchcompetitivenessisachievedthroughthecontinued
acquisitionandupdatingofknowledge,thehoningofskills,andlifelonglearning.
NOW, THEREFORE, the Board hereby RESOLVE, as it now RESOLVES to increase the
requiredCPDcreditunitsfrom60to120unitsinacomplianceperiodofthree(3)years
for all CPAs in Public Practice, Education, Commerce and Industry, Government, and
changingThematicAreastoCompetenceAreaswhichshallbecategorizedintoTechnical
Competence,ProfessionalSkillsandProfessionalValues,EthicsandAttitudes.
Section1.DefinitionofTerms.Thefollowingtermsusedinthisresolutionaredefined
asfollows:
a)ContinuingProfessionalDevelopmentreferstolearninganddevelopment
thattakesplaceafterInitialProfessionalDevelopment,andthatmaintainsand
developsprofessionalcompetencetoenableprofessionalaccountantsto
continuetoperformtheirrolescompetently.ContinuingProfessional
Development(CPD)isaimedatthedevelopmentandmaintenanceof
professionalcompetence.CPDprovidescontinualdevelopmentofthe
professionalknowledge,professionalskills,professionalvalues,ethicsand
attitudes,andthecompetenceachievedduringInitialProfessionalDevelopment.
b.CompetenceAbilitytoperformaworkroletoadefinedstandardwithreference
toworkingenvironments.
c.CompetenceareaAcategoryforwhichasetofrelatedlearningoutcomescanbe
specified.
d.Technicalcompetencetheabilitytoapplyprofessionalknowledgetoperforma
roletoadefinedstandard
e.ProfessionalskillsThevarioustypesofabilitiesrequiredtoapplyprofessional
knowledge,andprofessionalvalues,ethics,andattitudesappropriatelyand
effectivelyinaprofessionalcontext.
f.Professionalvalues,ethics,andattitudesTheprofessionalbehaviorand
characteristicsthatidentifyprofessionalaccountantsasmembersofaprofession.
Theyincludetheprinciplesofconduct(i.e.,ethicalprinciples)generallyassociated
withandconsideredessentialindefiningthedistinctivecharacteristicsof,
professionalbehavior.
g.InputbasedProfessionalDevelopmentActivitiesapproachestomeasure
attainmentofCPDbyestablishinganamountoflearningactivityforprofessional
accountantstodevelopandmaintainprofessionalcompetence.

h.OutputbasedApproachesapproachestomeasureattainmentofCPDby
requiringprofessionalaccountantstodemonstrate,bywayofoutcomes,that
theyhavedevelopedandmaintainedprofessionalcompetence.

i.FlexibleCPDActivitiesCPDlearningactivitiesthatmaybeearnedbyspending
trainingorseminarhoursbeyondwhattheminimumcompetenceareas.
j) SelfDirected Learning learning activities such as trainings, local/international

seminars/nondegree courses, institution/company sponsored training programs,
and the like which did not undergo CPD accreditation but may be applied for and
awardedCPDunitsbytheCPDCouncil.

k) Lifelong Learning all learning activities undertaken throughout life for the
developmentofcompetenciesandqualifications.
Section 2. Thematic Areas of CPD activities shall be changed to Competence Area

ThematicAreasofCPDactivitiesshallbechangedtoCompetenceAreasinordertoalign
with the International Education Standards. It shall be divided into three (3) major
categories as: (a) Technical Competence, (b) Professional Skills, and (c) Professional
Values, Ethics & Attitudes, and further include the following with corresponding
requiredverifiableunitsstarting2017:

COMPETENCEAREA Minimum
Required
VerifiableUnits
Starting2017
A.TECHNICALCOMPETENCE

1. Standards Applicable to Professional Practice 18
whichincludesbutnotlimitedtothefollowing:
a. Currentandrecentissuanceoftherespective
areaofpracticeoftheprofession,e.g.those
fromthestandardsettingbodieson:

FinancialAccountingandReporting
Assurance&Auditing;
Related practice statements &
interpretations;and
Pronouncements related to Taxation,
depending on area of practice of the
professional

b. IFAC Pronouncements issued through IFAC
memberbodies

2. Laws, Rules & Regulations affecting
Professional Practice which includes but not 6
limitedto:
a. Issuances of government/regulating bodies,
suchas,butnotlimitedto,
Professional Regulation Commission
and Board of Accountancy (which
covers provisions of the Philippine
Accountancy Act & IRR, new
resolutions and regulations issued by
PRC & BOA, and other issuances
pertaining to registration, licensing &
professionalregulatoryregimes)
Securities and Exchange Commission,

Bangko Sentral ng Pilipinas, Insurance
Commission, Bureau of Internal
Revenue, Cooperative Development
Authority
Comission on Higher Education and
DepartmentofEducation
Commission on Audit, Department of
Budget and Management Civil Service
Commission, for CPAs in government
sector 6
b. ASEAN and other international treaties
affectingthepracticeofFilipinoCPAs.
c. Other laws and regulations that govern
differentformsoflegalentities.

3. Environment of the Practice which includes
Frameworks, models, best practices,
benchmarks, information technology advances,
tools & techniques espoused by professional &
otherorganizationsthataffecttheoperations&
managementofclients&businessentitiesofthe
professional.

B. PROFESSIONALSKILLS

1. Professional development activities that 5
enhance
theCPAsintellectual,interpersonal,
communication,personalandorganizationalskills,
whichincludesbutnotlimitedto:

a. Oral&writtencommunication
b. Presentation,negotiation&facilitationskills
c. Teamworkenhancement
d. Personality&socialgraces
e. Decision making, leadership, management &
supervision
f. Conflict resolution, cultural immersion
programs, language learning programs, time
and resources management, work or process
innovationsandproblemsolvingskills.
g.forCPAsintheEducationSector,teaching
techniquesandothereducationrelated
CPDlearningactivities

C. PROFESSIONALVALUES,ETHICSANDATTITUDES
5
a. CodeofEthicsforProfessionalAccountants
b. Quality standards based on issuances of bodies
affectingtheprofessionalpractice
c. Governanceprinciplesandintervention
d. Socialresponsibility,principlesandinterventions

Section 3. Required CPD Credit Units in a Compliance Period. All CPAs regardless of
area/sector of practice shall be required to comply with 120 CPD credit units in a
complianceperiodofthree(3)years,whichtheimplementationthereofshallbegradual
inthefollowingperiod:

YearofRenewal Required number Minimum Units FlexibleCPDUnits Required
ofCPDUnits Under Required MinimumUnits
Competency Earnedfromthe
Areas PreviousYear(s)
forLicense
Renewal
2016 60 40 20 0
2017 80 40 40 20unitsfrom
immediately
precedingyear.
2018 100 40 60 20unitsearned
fromeachofthe2
immediately
precedingyears.
2019 120 40 80 20unitsearned
fromeachofthe3
immediately
precedingyears.
Section4.ExemptionRegisteredCPAsuponreachingtheageof65shallbeexempted
from CPD, except when applying for BOA Accreditation in which case the CPA shall
complywiththeCPDrequirementsofthepertinentaccreditationbeingappliedfor.
Section5.JointPRCPICPACPDCommittee.TheJointPRCPICPACPDCommittee(Joint
CPDCommitteeorJointCommittee)isherebyorganizedtoassistthePRCCPDCouncil
for Accountancy in implementing the provisions of this Resolution, particularly, in
evaluating applications for selfdirected or lifelong learning CPD activities. The
Chairman of the PRC CPD Council for Accountancy will be the Chairman of the Joint
CommitteeandtheChairofthePICPACPDCommitteewillsitasCoChairoftheJoint
CPDCommittee.PICPAandeachofthesectoralorganizationswilleachnominatenot
more than two (2) representatives to be members of the Joint CPD Committee. The
JointCPDCommitteewilldevelopitstermsofreferencesubjecttoapprovalbythePRC
CPDCouncilforAccountancyandtheBoardofAccountancy.
Section5. Repealing Clause.Anyruleandregulationorresolutionorpart/sthereof

inconsistent with the provisions of this Resolution are hereby repealed or modified
accordingly.
Section 6. Effectivity. This Resolution shall take effect fifteen (15) days after full and
completepublicationinanewspaperofgeneralcirculationortheOfficialGazette.
Copy hereof shall be furnished to the Office of the Secretary to the Professional
Regulatory Boards, Standards and Inspection Division, all Regional Offices and other
involvedunitsoftheCommissionfortheirguidance.
DoneintheCityofManila,Philippines,this_____dayof__________2016.
XXXXXXX

Appendix A: MATRIX OF CPD ACTIVITIES

BASED ON PRC RESO. 774 BASED ON IES 7
PROGRAM / ACTIVITY CREDIT UNITS SUPPORTING DOCUMENT
1. SEMINARS/WORKSHOPS
1.1 As Participant 1 CU per Hour Certificate of Attendance w/ No. of Hours (a) Participation in courses,
Seminar Program conferences, and seminars
1.2 As Resource 5 CU per hour Photocopy of certificate (g) Participation as a speaker in
Speaker Copy of papers conferences, briefing sessions, or
Program Invitation discussion groups,
1.3 As Panelist/Reactor 3 CU per hour Certification from sponsoring organization
Copy of Program
1.4 As 2 CU per hour Certification from sponsoring organization
Facilitator/Moderator Copy of Program
2. POST GRADUATE/SPECIALTY TRAINING
(relevant period: actively enrolled during the 3 year period of renewal; may still be applied 3 to 5 yrs
after completion)
2.1 Masters Degree 1 CU per Academic Unit University Certification (f) Formal study related to
professional responsibilities
20 CU additional upon
completion of degree Diploma & Transcript of Records
2.2 Doctoral Degree 2 CU per Academic Unit University Certification
30 CU Additional upon Diploma & Transcript of Records

completion of degree
2.3 Bachelor of Laws 1 CU per Academic Unit University Certification
30 CU Additional upon Diploma & Transcript of Records

completion of degree
20 CU Additional upon Certificate of Admission to the Philippine

passing the Bar exams Bar
2.3 Residency / 10 CU per year Certification form Host Institution
Internship / Specialty /
Sub-specialty Program Certificate of Completion
2.4 Fellowship 15 CU per year Certification from the granting institution
Certificate of Fellowship
3. SELF-DIRECTED AND/OR LIFELONG LEARNING
3.1 Training Module 10 CU per complete set of Copy of module & evaluation (e) Developing or delivering a
module course or CPD session in an area
related to professional
responsibilities
3.2 Technical Paper / 5 CU per Professional / Copy of Published Article & evaluation (h) Writing articles, papers, or
Professional Journal Technical Article books of a technical, professional
Article or academic nature
3.3. Accounting, Audit, 5 CU per Article Copy of Published Article in a newspaper,
Tax and other Business- industry journal, or other business
related articles publication
3.3 Research / 10 CU Published Technical Report / Paper
Innovative Programs /
Creative Projects
3.4 Book/Monograph 5 to 40 CU* Published book with proof of authorship
Author
Published book with proof of copyright
Editor the CU of Author/s
3.5 Research article 2 to 8 CU** Proof of publication of research article
3.6 Professional 5 CU per Issue Copy of published journal
Journal Editor
3.7 Peer Reviewer 2 CU per article Copy of published article/book
3.8 Inventions Full credit units for Certified copy of patent certificate
Nil
compliance period
8


3.9 On-line/web-based 1 CU per actual hour as Certificate of completion of (a) Participation in courses,
seminar or training training/seminar participant training/seminar from the online or web- conferences, and seminars
courses based course with corresponding CPD
- as participant 5 CU per actual hour as hours earned.
- as speaker / facilitator / training/seminar speaker,
discussant facilitator, discussant
3.10 Short-term post- 0.25 CU per hour (max of 30 Certificate of training (f) Formal study related to
graduate courses / in- CU per training) Training description professional responsibilities or
service training / on-the- (c) On-the-job training
job training
3.11 Study Tours / 2 CU per day (max of 20 Certification from sponsoring institution
Nil
Visits CU/tour)
3.12 Professorial Chair Full credit units for Certification of grant or appointment paper (h) Writing articles, papers, or
compliance period books of a technical, professional,
or academic nature
3.13 Professional 10 CU per Professional Copy of Professional Certificate duly (j) Professional re-examination or
Certifications, such as Certification obtained from authenticated by certifying organization, formal testing
CMA, CFA, CFE, CIA, 2010 and subsequent years such as IIA, ISACA, CIMA, etc.
CISA, etc
3.14 English or Foreign 10 CU for each Foreign Copy of Certificate of Completion and
Language Certifications Language Certification Proficiency Nil
Verifiable, Input-based
3.15 Active Committee 2 CU per meeting attended Certification of Attendance and CPD (d) Participation in and work on
Membership in FRSC, up to a maximum of 24 CU compliance signed by the Secretary and technical committees
AASC, PIC, CPD per calendar year duly noted by the Chairman of the
Committee (PICPA & respective Committee
Sectoral Orgn), CHED
Technical Committee on
Accountancy Education
3.16 Voluntary services 2 CU per hour as CPD Certificate of Attendance as CPD monitor
Rendered to the monitor
Profession such as CPD
Monitor, Citizen CU for other voluntary Subject to prior determination and
Participatory Audit, services subject to prior approval by the Joint CPD Committee
Government Bidding approval by the Joint CPD
and Procurement Committee
Observers, etc.

Draft CPD 60-120hrs

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Draft CPD 60-120hrs

Uploaded by

Copyright:

Available Formats

PROFESSIONAL REGULATORY BOARD OF ACCOUNTANCY

Resolution No. ________

WHEREAS, the Philippine Institute of Certified Public Accountants (PICPA), the

standards among accountants, the advancement of the science of accounting, and

WHEREAS, IES 7 states that IFAC member bodies implementing an inputbased

WHEREAS, the Philippines being a member of the Association of Southeast Asian

j) SelfDirected Learning learning activities such as trainings, local/international

Section 2. Thematic Areas of CPD activities shall be changed to Competence Area

Securities and Exchange Commission,

Section5. Repealing Clause.Anyruleandregulationorresolutionorpart/sthereof

Appendix A: MATRIX OF CPD ACTIVITIES

30 CU Additional upon Diploma & Transcript of Records

30 CU Additional upon Diploma & Transcript of Records

20 CU Additional upon Certificate of Admission to the Philippine

You might also like