Professional Regulation Commission x Board of Accountancy

 Financial Reporting Standards Council

o More on accounting standards
 Auditing and Assurance Standards Council
o More on auditing standards

 Person failed twice

o Refresher course
o He can take the exam twice
o There’s no limit

Qualification of Board Members

A member of the Board shall, at the time of his/her appointment, possess the following qualifications:
(a) Must be a natural-born citizen and a resident of the Philippines; (b) Must be a duly registered
Certified Public Accountant with a least ten (10) years of work experience in any scope of practice of
accountancy.

 Good moral character

 Not incorporated in crimes involving moral turpitude
 Not connected with any school, college or university granting degrees that may qualify
graduates with such degrees for admission to the CPA
o It’s unfair and immoral if you have direct connections

10 years

- Assumed that after 10 years of working you’re at the peak of your career