Revisions in Accountancy Law

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PROPOSAL ON REVISION OF ACCOUNTANCY LAW READY TO BE SUBMITTED TO CONGRESS

The presentation by BoA Chairman Joel Tan-Torres of the details of the revisions ot the Accountancy Law proceeded on August 9, 2016 with over 25 attendees in PICPA Shaw.

“After more than three months of discussions and dialogues with the various accountancy stakeholders throughout the Philippines, we have now compiled a detailed list of the revisions that we can submit to the identified sponsors in Congress. We will submit our recommendations to Congress by next week,” said BoA Chairman Joel Tan-Torres.

“Thereafter, Congress will conduct their own public hearings on the bill that will be drafted for this where we can continue to participate. We hope to move forward this very important initiative quickly,” said Chairman Tan-Torres.

The draft bill that was presented will be posted in boa.com.ph.

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LAST DIALOGUE ON THE REVISION OF THE ACCOUNTANCY LAW SCHEDULED ON JULY 27

After more than two months of consultations and dialogues with the various stakeholders, the Board of Accountancy will be presenting the consolidated list of recommendations on the proposed revisions of the Accountancy Law (Republic Act 9298).  This will be presented in PICPA Shaw on at 3PM on July 27, 2016.

Recommendations on the revision will cover six areas as follows

  1. Structural
  2. Mandate of the Accountancy Regulatory Office and BoA
  3. Practice of Accountancy
  4. Accountancy Examination and Program Matters
  5. Special Provisions
  6. Penalties and Sanctions

“After over two months of consultations and focus group discussions that started last April 20, 2016, the Board has received feedback on the revisions in our Accountancy Law that can be incorporated in a list that will be submitted to Congress for their consideration. We intend to give the various stakeholders some time to further give feedback on the list of recommended changes that will be presented on July 27. Thereafter, we will now submit this to the senators and congressmen who will be interested to support and sponsor this initiative of the accountancy profession,” said BoA Chairman Joel Tan-Torres.

“We are requesting our fellow accountants to coordinate with us if they would want to be involved in the advocacy process in Congress after we have submitted our recommendations .  Those who know senators, congressmen or the technical  or legislative staff of Congress or would want to participate in the advocacy in Congress  can communicate to us this information at boa.secretariat@gmail,com.  We hope that the support of accountants, we will be able to fast track the approval of our revised Accountancy Law,” said Chairman Joel Tan-Torres.

All are invited to attend the dialogue on July 27, 2016 in PICPA Shaw.  You can communicate your attendance by emailing boa.secretariat@gmail.com

 

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AFTER THE ELECTIONS, OUR FOCUS WILL NOW BE IN THE DIALOGUE FOR THE REVISION OF THE ACCOUNTANCY LAW

After the start of the dialogues for the revision of the accountancy law in PICPA Shaw on April 20, and in PICPA San Fernando Pampanga on May 4, BoA will be conducting several dialogues and focus group discussions to formulate a set of recommendations that can be included in a package that can be submitted to the incoming Congress on July 2016.

The confirmed schedule of dialogues are as follows:

Location                                               Date

Metro Manila                                    PICPA Shaw                                        April 20, June 2, June 16
Visayas                                                 Dumaguete, Cebu                           May 13, June 10
Mindanao                                           Davao                                                   May 27, June 18
Luzon                                                    San Fernando                                    May 4

These dialogues are being conducted with the PICPA chapters in the particular cities where these will be held.

REMINDER:  The final presentation of the results of the dialogue on the revisions of the Accountancy Law (RA 9298) is scheduled on July 27, 2016 from 3PM to 5PM at the PICPA Shaw.

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Download Presentation

 

CONSULTATION DIALOGUE SET ON ACCOUNTANCY LAW AMENDMENT ON APRIL 20

A consultation dialogue to discuss proposed changes to the Accountancy Law has been reset to April 20, 2016 at 3PM in the PICPA Shaw.

“Republic Act No. 9298 or the Accountancy Law was passed way back in 2004. Several years have lapsed and major developments in the accountancy sector have since evolved since the passage of our law. There is now an imperative need to amend our law to make this more relevant and pertinent to the needs of the times and our profession,” said Chairman Joel Tan-Torres.

“We will conduct dialogues to get inputs for the revisions that we will compile. These will be held in the various regions of the country. The results and feedback from the dialogues will be submitted to the new Congress that will convene by July 2016,” said Chairman Tan-Torres.

Those interested to participate in the dialogue can email their interest to boa.secretariat@gmail.com. They can also email their suggestions for revisions that can be considered.