Professional Documents
Culture Documents
1. A new CPA can practice his profession in public accounting after getting a
meaningful experience of
1 year
2 years
3 years
4 years
2. Which of the following names illustrates a firm name as contrasted to the name of an
individual CPA and a partnership name?
Jose M. Ireneo, CPA
Jose M. Ireneo and Associates
Ireneo and Cordova, CPAs
Ireneo, Cordova and Company
3. All licensed CPAs shall obtain and use a seal of a design
prescribed by the ASC
PICPA
BOA
PRC
4. The QRC shall have the following functions:
Conduct quality control review on applicants for registration.
Revoke certificate of registration and professional ID of an individual CPA, firm
or partnership of CPAs who have not observed quality control measures and
who has not complied with the standards of quality prescribed for the practice
of public accountancy.
Mete out sentences of imprisonment to CPAs who fail to present a valid
system of quality control.
All of these.
5. Listed below are the name of four CPA firms and pertinent facts relative to each
firm. Unless otherwise indicated, the individual names are CPAs and partners,
and there are no other partners. Which is a violation of the Implementing Rules
and Regulations of RA 9298? Tin, Ton and Tan, CPAs (Tin died about five years
ago, Ton and Tan are continuing the firm.) Poe and Sue, CPAs (The name of Cua,
a third partner is omitted from the partnership name.) Joni and Jona, CPAs (Joni
died about three years ago; Jona is continuing the firm as sole proprietor.)
Elias and Co., CPAs (The firm has ten other partners who are all CPAs).
6. A partner surviving the death or withdrawal of all the other partners in a
partnership may continue to practice under the partnership name for a period of
not more than ______ years after becoming a sole proprietor.
1
2
3
4
7. The death or disability of an individual CPA and/or the dissolution and liquidation of
a firm or partnership of CPAs shall be reported to BOA not later than ____ days
from the date of such death, dissolution or liquidation.
15
30
60
90
8. RA 9298 provides temporary or special permits may be issued to Foreign
CPAs in the following situations except:
A foreign CPA was called for consultation or for a specific purpose which, in
the judgment or the BOA, is essential for the development of the Philippines.
That permit restricts the foreign CPA’s practice to the particular consultation
work being performed. No Filipino CPA qualified for such consultation ;
A foreign CPA engaged to lecture on fields essential to accountancy education
in the Philippines. The permit restricts the CPA to teaching only, and limited
public practice provided such practice is conducted outside class hours.
A foreign CPA, an IFRS expert is engaged for services deemed essential for the
advancement of accountancy in the Philippines.
All of the above situations do not justify the issuance of a temporary or special
permit. 9. A CPA initially applied for accreditation and was approved and
registered on Aug. 15, 2017. The deadline for the renewal of the accreditation
shall be:
Three years after Aug. 15
Three years after the date of registration as CPA
Birthday of CPA in 2020.
After completing 120 credit units.
10.CPD units may be earned by a CPA thru the following
modes EXCEPT: Attending seminars and conferences
Authoring and publishing a book
Completing a post-graduate degree program
Rendering CPA services for a minimum fee