Refusal to Issue Certificate of Registration Identification Card and Professional Identification Card

 The Board shall not register and issue a certificate of registration and professional identification
and to any successful examinee convicted by court of competent jurisdiction of a criminal
offense involving moral turpitude or guilty of immoral and dishonorable conduct or to any
person or unsound mind.

Suspension and Revocation of Certificates of Registration and Professional Identification Card and
Cancellation of Special Permit

 The board shall have the power, upon notice and hearing, to suspend or revoke the
practitioner’s certificate of registration and professional identification card or suspend him/her
from practice of his/her professional or cancel his/her special permit for any of the causes or
grounds mentioned in the Section 23 of this Act or for any unprofessional or unethical conduct,
malpractice, violation of any provision, of this Act and IRR, the CPA Code of Ethics and technical
and professional standards, or practice for CPA

Reinstatement, Reissuance and Replacement of Revoked or Lost Certificates

 The Board, may, after expiration of 2 years from the date of revocation of a certificate of
registration and upon application and for reasons deemed proper and sufficient, reinstate the
validity of a revoked certificate of registration and in so doing, may, in its discretion, exempt the
applicant from taking another examination.
 A new certificate of registration to replace the lost, destroyed, or mutilated certificate/license
maybe issued, subject to the rules promulgated by the Board and the Commission, upon
payment and required fees.

Practice of Accountancy

 Prohibition in the Practice of Accountancy

o If you are not a CPA don’t extend your name with the word CPA
 Vested rights: CPA Registered when this law is passed
o Rights is available when the law is passed
 Limitations of the practice of Public Accountancy
o Does have an ongoing debate
o You cannot build your own corporation because it has limited liability
o You can only build sole proprietorship and partnership because it has unlimited
liability.
 Ownership of working paper
o Documents that became your basis in arriving at your decision to produce this kind of
opinion – adverse opinion – because the opinion Is based here
o Professional accountants own the papers
 Accredited Professional Organization
o For advancement, need to join
 Accreditation to Practice Public Accountancy
o BOA Accreditation
 o You cannot put up your own firm unless you are BOA accredited
o 120 units of CPD/CPE
 Continuing Professional Education (CPE) Program
 Sela and Use of Seal
o You cannot use the seal or word CPA if you are not a CPA
 Foreign Reciprocity
o You must be a Filipino citizen
o Foreign is allowed if there is an accreditation from the country you are from and if
Filipino are allowed in their country to practice.
 Coverage of Temporary / Special Permits
o Can issue a special permit only if that foreigner can answer or give service to the client
but with limitations. Such as they can’t teach but they can do seminars.