BOA Chairman Joel L. Tan-Torres

May 18, 2014The new Board of Accountancy and well wishers

The newly appointed BOA is committed to pursueits mandate as prescribed in Philippine Accountancy Law of 2004 and as required by the PRC in the contextof recent developments and available resources.

With the support of the PRC leadership and the various stakeholders of the profession, the BOA and the accountancy profession is ready in Expanding Horizons

The essentials for Expanding Horizons:

Commitment to pursue ALL mandates Support of and close coordination with PRC

and various stakeholders Provide and implement solutions for identified constraints Implement an ASAP time line

Provide solutions for identified constraints:

Identified constraints

Lack of resources Bureaucratic system Inherent nature of the BOA appointees

Provide solutions for identified constraints:

Provide solutions

Work within the bureaucratic system with “Out of the box” solutions

Tap available internal and international resources Formulate an Executive Order to provide a support organization Adopt the ASAP mind set

In Expanding Horizons, the BoA has identified sixty seven (67) projects in six sectoral and interest areas:

Public Practice Commerce and Industry Education Government International Special Projects

a. Enhance the delivery of the Continuing Professional Development program

PUBLIC PRACTICE PROJECTS

b. Implement an effective Quality Assurance Review systemc. Post the list of registered and accredited CPAs in the BoA website

d. Mandate the submission of monitoring and management reports

e. Review the accreditation system

f. Coordinate with SEC, BSP, IC and CDA in the accreditation of CPAs in public practiceg. Institute an effective rewards and sanction system

h. Streamline the audit standards setting processi. Address the concerns of and issues pertaining to small practitioners

a. Encourage the participation of private firms in the internship program for accounting students

COMMERCE & INDUSTRY PROJECTS

b. Streamline the accounting standards setting process

c. Adopt a survey and feedback system on accountancy issues and matters

d. Initiate a campaign for the renewal of PRC license and membership in the APO

e. Enhance the competence and capability of members of the audit committee of companies

a. Conduct regular review of CPA examination syllabus and subjects

EDUCATION PROJECTS

b. Enhance the administration of CPA licensure examinationc. Conduct regular review of curriculum of accounting schoolsd. Review the accreditation system of accounting teacherse. Conduct regular assessments of accounting schoolsf. Initiate a training/ education program for accounting technicians and agents of BPOg. Institutionalize an internship program for accounting students

h. Post the performance metrics of accounting schoolsi. Coordinate the holding of accounting student’s or school’s competitions in various disciplinej. Work in further instilling in accounting students the sills or value of professional ethics, analytical thinking, effective communication, and the use of technology tools

k. Expand JPIA involvement in accountancy issues and mattersl. Initiate a campaign for renewal of PRC license and membership in PICPAm. Post the list of accredited CPA teachers in the BOA website

a. Initiate a campaign for the renewal of PRC license and membership in the APO

GOVERNMENT PROJECTS

b. Review the Continuing Professional Developmentc. Pursue the mandatory inclusion of CPA qualifying standards for appointments or promotions to relevant government positionsd. Coordinate with COA, DBM, SEC, and BSP on government accounting issues

and matterse. Coordinate with BIR in its campaign on CPA tax compliancef. Coordinate with the DOF for the operationalization of the Tax Academy for the CPA officials and staff in the BIR, BOC and local government units

a. Pursue the immediate appointment of the 3 remaining vacanciesb. *Establish a branch officec. *Work the issuance of an Executive Order to create a Technical and Secretariat Support Office for the BoAd. *Pursue amendments of RA 9298e. *

SPECIAL PROJECTS

e. Pursue the PGS Accountancy Roadmap initiativef. *Conduct a Project Accntnt campaignf. *Initiate an “Outstanding Sectoral Organization” and other award projectsg. Coordinate closely with PICPA in the administration of the Accountancy Week Celebrationh. *Enhance the administration of activities on the Oath taking of new CPAsi. *Establish the effective social media and traditional media network

k. *up with a regularly issued newsletter entitled “News Ledger”l. *Purse with a major newspaper company for an accountancy column entitled “Debit & Credit”m. Publish a Technical Research Journal on a regular basisn. *Publish brochures and flyers on BoA matters * o. Create a BoA website

p. Establish a BoA libraryq. Initiate the establishment of a Museum of Accountancyr. Initiate the construction of a BoA buildings. * Pursue outreach projectst. Establish linkages with accountancy related bodies

a. Pursue the finalization and implementation of the ASEAN and other countries’ MRA

INTERNATIONAL PROJECTS

b. Consider bidding for the hosting of the Secretariat for the ASEAN Coordinating Committee of Accountancyc. Implement the relevant recommendations of reports of World Bank, IMF, ADB and other multilateral institutionsd. Conduct surveys or studies of best practices in other countries

e. Establish benchmarking accountancy practices with other countriesf. Establish linkages with donor or funding agencies for future projects

Major developments in the accountancy practice

Propagate the Mutual Recognition Arrangement Implement the Quality Assurance Review Propagate the Code of Ethics Accelerate the Performance Governance System and

Accountancy Road map Establish an extension office Enhance the Public practitioner/educator accreditation system Enhance the Continuing Professional Development Prescribe the submission of management reports Coordinate with BIR, BSP, SEC and PDIC on practitioner compliance Institute an effective reward and sanction system Focus on concerns of Small practitioners Create a BoA website

Major developments in the accountancy practice

Lead the oath taking activities for 1,107 new CPAs in Sept. 2 in PICC Establish linkages with accounting related certification bodies Prescribe a Certificate of FS preparation by Chief Accountants Review the CPA examination syllabus Coordinate with CHED in the review of the accounting curriculum Coordinate with DepEd in providing quality accounting teachers for

K to12 Initiate an “Most Outstanding Sectoral Organization” award Encourage the establishment of more sectoral chapters

Major developments in the accountancy practice

Inititate Project Accntnt Implement Project “ABC of Accountancy atb.” Come up with newsletter called “News Ledger” Initiate a weekly newspaper column called “Debit and Credit” Publish periodically a technical research journal called “Highest Standards” Publish a coffee book entitled “Champion CPAs” Prepare for the forthcoming resolutions Pursue amendments in RA 9298 Propagate the social network: boa. Gov.ph and email: boa.secretariat@gmail.com

BIG DREAMS

Establish an Accountancy LibraryEstablish an Accountancy Conference Area

Establish a Museum of AccountancyEstablish an Accountancy Building

www.facebook.com/boa.gov.ph

www.twitter.com/boa_gov_ph

OFFICIAL SITES

www.twitter.com/boa_gov_ph

www.facebook.com/boa.gov.ph

EXPANDING “EH”

1. EH Oath and commitment2. Print and distribute EH flyers and brochures3. Posting of EH tarpaulins4. “Selfie” EH5. Social media EH6. EH Volunteer

With the support and cooperation of all stakeholders, our accountancy profession is well on its ways towards Expanding Horizons and becoming the No. 1 profession in the country

BOA Chairman Joel L. Tan-Torres