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REVISIONISTHECPAEXAMINATIONSUBJECTS70thPICPAANNUALNATIONALCONVENTION

PuertoPrincesa,PalawanNovember26,2015

Dr.GloriaT.BaysaVice-Chair,BoardofAccountancy

AccountancyProfessionProfile

October batch: 258 July batch: 289

NCR: 46.1%

-  Over170,000CPAsregistered-  Over520accoun=ngschools-  Over132,000enroleestoBSAeachyear-  Over11,000accountancygraduateseachyear-  Over20,000CPAexamineeseachyear-  About7,000CPApasserseachyear-  Over5,800CPAsinpublicprac=ce

-  BoardofAccountancyistheregulator,educator,licensor,rulemaker,etc.allrolledintoone

•  Administers3Licensureexamina=onseveryyear•  AccreditsCPAsinpublicprac=ceandineduca=on•  Conductsinspec=onsofschools&businessesestablishments•  IssuesAAS&PFRS•  AdministersCPDProgram

AccountancyProfessionProfile

October batch: 258 July batch: 289

NCR: 46.1%

Func=onsofBoardofAccountancy(con=nued):•  IssuesSTPsforforeignaccountantstoworkinthePhilippines

•  Overseestheinves=ga=onoferringaccountants•  OverseestheAPOandthe4sectoralorganiza=ons•  ReviewstheAccountancyProgramwithCHED•  ConductsthesearchforthemostoutstandingCPAandAPO

•  ImplementstheASEANMRAforAccountancyServices•  Providesoversightovergovernmentaccoun=ngmaZers•  AZendstoPRCmaZers•  AZendstointerna=onalaccoun=ngac=vi=es

SubjectstobeincludedinthenewCPABoardExam

October batch: 258 July batch: 289

NCR: 46.1%

• FinancialAccounSngandReporSng• AdvancedFinancialAccounSngandReporSng• AudiSng• ManagementAdvisoryServices• TaxaSon• RegulatoryFrameworkforBusinessTransacSons

Highlightsofthechange

October batch: 258 July batch: 289

NCR: 46.1%

1.  ReducSoninthenumberofsubjectsfromseven(7)to

six(6)2. MergingaudiSngtheoryandpracSceintoone(1)subject3. MergingaccounSngtheoryandpracSceanddistribuSng

theperSnenttopicsinTheoryofAccounts,PracScalAccounSngI,PracScalAccounSngIItoFinancialAccounSngandReporSng,andAdvancedFinancialAccounSngandReporSng

4.  SegregaSngBusinessLawandTaxaSonintoTaxaSonandRegulatoryFrameworkforBusinessTransacSons

5.  RenamingManagementServicestoManagementAdvisoryServices

Nextsteps

• 100%mappinghasbeendone

• IssuanceofthePRCResolu=onrevisingthesubjects

• Finaliza=onofsyllabusandTableofSpecifica=onsbyOctober2015

• Coordina=onwiththeappropriateofficesinPRCtoimplementthechange• Prepara=onoftestques=onsforthetestbankundertheOBframework

Nextsteps

• 2yeartransi=onforcondi=onalexaminees

• Conductofpublicawarenessandconsulta=ons

• Implementa=onfortheMay2016CPALicensureExamina=on

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BOASCHOOLINSPECTION

LEGALBASIS

TheProfessionalRegulaSonCommissionthroughitsmandateRepublicActNo.8981calledthe“PRCModernizaSonActof2000”anditsImplemenSngRulesandRegulaSonsprovidesfortheinspecSonandmonitoringofeducaSonalinsStuSonsbythevariousProfessionalRegulatoryBoards.

July batch: 289

NCR: 46.1%

BOA

October batch: 258

NCR: 46.1%

ThisregulatoryauthorityoftheBoardofAccountancyiswithinthecontextofdevelopmentalregulaSon.

PURPOSE

October batch: 258 July batch: 289

NCR: 46.1%

The purpose and objecSve of theinspecSon is toobserve,assess, andmakerecommendaSonresulSngfromthereviewof the compliance of the Bachelor ofScience in Accountancy Program with thepol ic ies , s tandards and min imumrequirementsofthePRC.

TheinspecSonandreviewwillbeundertakeninaccordancewithPRCResoluSonNo.732Seriesof2013enStled“GuidelinesintheConductofInspecSonsandMonitoringofEducaSonalInsStuSons.”

INSPECTIONACTIVITIES

1. Briefing–TheschoolrepresentaSvesshallbriefthe InspecSon Team on important and relevanthighlights of the Accountancy program, and theInspecSon Team shall present and discuss the workprogramwithschoolrepresentaSves.

October batch: 258

2.ActualWork–TheInspecSonTeamshallconductdocumentreview,interviews,ocularinspecSonsand/orclassobservaSons.NCR: 46.1%

October batch: 258

3.ExitConference–TheInspecSonTeamshallinterviewinvitedschoolofficialsandshallpresentanddiscusswithschoolrepresentaSvesthefindingsandrecommendaSons,includingre-inspecSonandcomplianceSmetables.

October batch: 258

Thisprocessisexpectedtobecompletedinthreetofourhours,unlessalongerSmeframeisagreeduponbytheInspecSonTeamandtheschoolrepresentaSve.

INSPECTIONTEAM

October batch: 258

1.  PRCRepresentaSve/s2. BOARepresentaSve/s

INSPECTIONSCHEDULE

October batch: 258

AnInspecSonLeheristobesentbytheBOAChairindicaSngalloftheaboveincludingthedateandSmeofinspecSon.

INSPECTIONCHECKLIST

October batch: 258

A.Faculty1.ListofAccountancyFacultywith(supporSngdocumentsavailable):a.PRCIDNumberb.AccreditaSonNumberasAccreditedAccounSngTeacherc.EducaSonalQualificaSond.NumberofYearsTeachingAccounSnge.Status(Regular/Part-Sme/withAdministraSveWork)

October batch: 258

f.AverageNumberofUnitsofTeachingLoadg.EducaSonUnitsEarnedh.ClassSchedulefortheCurrentSemesteri.CPDUnitsAccumulatedthePastThreeYearsj.Self,Peer,SuperiorandStudentEvaluaSonRaSngs(mostcurrent)2.FacultyManual3.FacultyDevelopmentProgram

C.Library1.LibraryPoliciesandGuidelines2.AgencieswithwhichLibraryhasLinkages3.ElectronicResources(withdescripSon)4.LogbookofLibraryUsers5.InventoryofLibraryFurnitureandEquipment

July batch: 289

NCR: 46.1%

October batch: 258

NCR: 46.1%

D.Facili=esandLaboratories1.ListofFaciliSesandLaboratoriesIncludingFuncSonRooms2.ApprovedRequestofStudentsandFacultyontheUseofFaciliSes3.PoliciesandGuidelinesontheUseofFaciliSesandLaboratories4.ListofLaboratoryEquipment

October batch: 258 July batch: 289

NCR: 46.1%

E.Administra=on1.FacultyDevelopmentPoliciesandGuidelines2.BudgetAllocaSonforFacultyDevelopmentPrograms,StudentDevelopmentPrograms,LibraryDevelopmentProgramandFaciliSesandLaboratoriesDevelopmentProgramfortheCurrentYear3.ActualFacultyDevelopmentProgramsProvidedwithBudgetthePastYear4.CopyoftheSupervisoryProgramoftheDeanofAccountancy

F.ReviewSchool1.ReviewClassesIntegratedintheProgram,or2.ReviewClassesProvidedbytheInsStuSon,or3.EndorsedgraduaSngStudentstoaReviewSchool(pleaseidenSfy),or4.StudentsChoosetheirReviewSchool(pleaseidenSfy).5.StudentOptnottoTakeReviewClasses

G.Others1.Awards/RecogniSonsoftheAccountancyProgram/School2.ResultsofInspecSonsconductedbyCHEDand/orotherrelevantInspecSonOrganizaSonsinthePastThreeYears3.Others,____________________________________