PRC AND BOA READY FOR MRA IMPLEMENTATION

As part of the 95th year anniversary celebration of the BoA, the rules, including the Assessment Statement, and the Asean CPA application form, to implement the ASEAN Mutual Recognition Arrangement (MRA) for Accountancy Services, will be released in an anniversary event on March 22, 2018 in PICC>

The Board of Accountancy and the International Affairs Office of the Professional Regulations Commission had recently finalized the requirements and rules for the MRA.

The ASEAN MRA was signed last November 2014 by all ASEAN member states. This MRA is intended to provide mobility of accountants in the ASEAN where there will be minimal restrictions imposed on accountants working in the various countries in the region. Filipino CPAs will be able to take advantage of the demand for accountants in Singapore, Malaysia, and the other ASEAN member states and consider employment in these countries.

The Philippines has organized a Monitoring Committee (MC) for the MRA implementation which will soon be releasing the guidelines on how to become ASEAN Chartered Professional Accountants (ACPAs). This MC is compose of the PRC chairman, three BoA representatives and one representative from PICPA. The Chairman of the MC is PRC Chairman Teofilo Pilando and the Vice-chair is BoA Chairman Joel Tan-Torres.

In the past four years, the accountancy representatives of the ten ASEAN countries have been discussing the transition implementation details of the ASEAN MRA. The matters discussed included the establishment of the Monitoring Committees for each country that will spear head the implementation; the ACPACC Rules; the updated List of Regulated Accountancy Services ; the Assessment Statements that each country shall prepare; Final Report of Development of Implementation/Action Plans to Enhance Mobility of ASEAN Professionals on Accountancy Services Project; the ACPACC Rules and Regulations; the setting up of web site, the finalization of the List of Regulated and Non-Regulated Services and, the Philippine recommendation to discuss of fast tracking of activities to enhance mobility of accountants in the region.

“Filipino accountants need to be prepared and ready to meet the opportunities and benefit that the MRA will bring. At the same time, we should all be ready to face the competition from the other ASEAN countries that will result in challenges to our accountants.

The BoA has come up with the ASEAN AWARENESS FOR ACCOUNTANTS of the MRA” series or the “3AM series.” This is an awareness campaign on the MRA that is directed towards making the stakeholders in the accountancy profession aware of the important developments in the MRA. The BoA has been posting information materials on the MRA on its Facebook and website. Discussions on the MRA have been held in various fora and events attended by the BoA Chairman and members .

Flyers and brochures on the MRA have been published and disseminated. The Continuing Professional Development seminars and modules prescribed by BoA offer topics on the MRA. Announcements and news on the MRA shall be posted on the BoA website and various social networking accounts.

All accountants are encouraged to post questions and topics that they would want to be discussed in this 3AM series. The suggested topics or any questions on the MRA can be also be emailed to boa.secretariat@gmail.com.
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For information on the MRA, 3A series and the ACPA application forms, you can log in at the BoA website at https://boa.com.ph/asean-mutual-recognition-arrangement/ or contact the PRC International Affairs Office in PICC.

The information dissemination and active implementation of the MRA is one of the main activities in the 2018 celebration of the 95th anniversary of the Accountancy profession and the BoA.

The MC for the ASEAN MRA implementation through the PRC International Affairs Office shall start accepting applications for ACPAs from Filipino CPAs by April 2018.

DISSEMINATION NOTICE.  FOR MORE INFORMATION, CONTACT boa.secretariat@gmail.com    March 7, 2018