CPD RESO RELEASED
The Board of Accountancy issued BoA Resolution No. 358-2016 published in Philippine Star last January 7, 2016 that provided the rules of the gradual increase of the Continuing Professional Development (CPD) requirements for CPAs from 60 to 120 units and the shift from thematic to competency CPD framework. The resolution also contains the details on the various activities that can quality for the CPD requirements of a CPA, including those from the professional, academic and self directed tracks.
“BoA also is working on several other CPD initiatives, including the provision of online CPD courses; the assignment of Monitors and giving of a culminating test in CPD seminars; and online monitoring of CPD units earned,” said BoA Chairman Joel Tan-Torres.
According to PRC, the CPD Council for each regulated profession shall issue its Operational Guidelines to implement the provisions of Republic .Act. 10912 entitled “An Act Mandating and Strengthening the Continuing Professional Development (CPD) Program for all Regulated Profession, Creating the Continuing Professional Development Council, and Appropriating Funds therefor, and for Other Related Purposes.” This law was passed last July 21, 2016
BoA Resolution No. 358-2016 can be downloaded from the BoA website at boa.com.ph
DISSEMINATION NOTICE. FOR MORE INFORMATION, CONTACT firstname.lastname@example.org January 2017
PRC ISSUES NEW CPD GUIDELINES
The Professional Regulations Commission issued Resolution 990-2016 providing for updated rules on the Continuing Professional Development (CPD) program that all regulatory boards will have to implement. This was published in the Official Gazette last July 21, 2016 and becomes effective on August 21, 2016.
The resolution provides rules and application forms on the accreditation of CPD providers, the requirement of CPD monitors for quality assurance, the guidelines on self-directed or life long learning, new registration fees. It also provides that the CPD requirements for CPAs shall be 120 units for a three year period.
The resolution can be downloaded from the PRC and BoA website at boa.com.ph
FORTHCOMING CHANGES IN CPD
The Board of Accountancy will soon be instituting changes and improvements n the Continuing Professional Development (CPD) for CPAs.
These include the following:
- The gradual increase in the number of CPD units required to be completed for the three year period from 60 units to 80 units for the period ended December 2016, to 100 units for the period ended December 2017 and 120 units for the period ended December 2018.
- Shift from the CPD learning categories of Thematic to Competence areas, to make it consistent with International Education Standards, with the Competence areas to be categorized into Technical Competence, Professional Skills and Professional Values, Ethics and Attitudes
- Clearer rules on the securing of CPD credits for self-directed and non-verifieable learning activities
- Encouraging the provision of more on-line CPD courses
- Encouraging more CPD service providers from the academe and government sectors
- Start of the use of monitors or proctors in CPD seminars who will be responsible for monitoring the attendance and presence of the CPD participants
- Requirement for the giving of a short quiz by the CPD resource person to all attendees at the end of the CPD session and the passing of said quiz by attendees as a requisite for earning the CPD units
- More streamlined monitoring of the CPD units by means of the IT Tracking System of the BoA.
All registered CPAs must comply with the Continuing Professional Development requirements. To know more, refer to BOA Resolution 2013-774 and BOA Resolution 2012-59.
INCREASING THE MINIMUM CPD UNITS FROM 60 TO 120 CREDIT UNITS OVER A 3-YEAR COMPLIANCE PERIOD AND CHANGING THEMATIC AREAS TO COMPETENCE AREAS – BOA RESOLUTION NO. 358-2016
AMENDMENTS TO THE REVISED GUIDELINES ON THE CONTINUING PROFESSIONAL DEVELOPMENT PROGRAM FOR ALL REGISTERED AND LICENSED PROFESSIONAL – PRC RESOLUTION NO. 2016-990
ISSUANCE AND PROMULGATION OF THE NEW TABLES OF SPECIFICATION (TOS) OF THE SUBJECTS IN THE BOARD LICENSURE EXAMINATION FOR CERTIFIED PUBLIC ACCOUNTANTS (BLECPA) – BOA Resolution No. 275-2015
Resolution No. 263 Series of 2015- Adoption of the IFAC 2013 Code of Ethics for Professional Accountants as “The Code of Ethics for Professional Accountants in the Philippines”, and prescribing amendments therefor