CONTINUING PROFESSIONAL DEVELOPMENT ACT OF 2016 FOR THE ACCOUNTANCY PROFESSION
WHEREAS, Section 2, Article I of Republic Act (RA) No. 9298, otherwise known as the Philippine Accountancy Act of 2004, provides for the policy of the State which states that, to wit:
“The state recognizes the importance of accountants in nation building and developments. Hence, it shall develop and nurture competent, virtues, productive and well-rounded professional accountants whose standards of practice and service shall be excellent, qualitative, world class and globally competitive though inviolable, honest, effective, and credible licensure examinations and though regulatory measures, programs and activities that foster their professional growth and development.
WHEREAS, Section 32, Article IV of RA 9298 mandates the Professional Regulatory Board of Accountancy (Board) to promulgate requirements, rules and regulations on Continuing Professional Education/Development, subject to the approval of the Commission, which all Certified Public Accountants shall abide;
WHEREAS, under Section 15 of Article IV of Republic Act 10912, otherwise known as Continuing Professional Development Act of 2016, the Professional Regulatory Boards are given the authority to prescribe their own requirements or procedures relating to the CPD as may be pertinent and applicable to their respective professions,PROVlDED, that the same does not contravene any provision of R.A. 10912 and its Implementing Rules and Regulations (IRR);
WHEREAS, after a series of consultative meetings with the stakeholders, it is agreed to adopt additional requirements for accreditation of CPD providers, for self-directed and/or life-long learning, minimum creditable units for self-directed and/or lifelong learning, major areas of CPD activities, and the required CPD credit units in a compliance period that are appropriate taking into consideration the peculiarities of the accountancy profession.
NOW THEREFORE, the Board hereby RESOLVED, as it now RESOLVES to formulate its own Operational Guidelines of the CPD Program in accordance with the provisions of R.A. 10912 and its Implementing Rules and Regulations as follows:
Section 1. Date/s of Regular Meeting/s. — The CPD Council under the supervision of Board, is hereby mandated under this resolution to meet every 2 nd Monday of the month for evaluating the applications for accreditation as CPD provider, program, self-directed and/or lifelong learning and other CPD-related matters.
Section 2. Qualifications for Accreditation of CPD Providers. — To obtain accreditation, the following qualifications shall be met:
A. Local CPD Provider
1. Individual/SoIe Proprietor
1 .1 A registered and licensed professional of good standing;
P. PAREDES ST., CORNER N. REYES ST., SAMPALOC, MANILA, PHILIPPINES, 1008
P.O. BOX 2038, MANILA
1 .2 Non-conviction of a crime involving moral turpitude;
1 .3 Registered with the Department of Trade and Industry and the Bureau of Internal
1 .4 Certified Public Accountant with a valid PRC license; and
1 .5 Can demonstrate capability to offer and provide CPD programs in a sustainable manner.
Incumbent Members of the Commission, PRBs and CPDCs cannot apply to and are disqualified to apply as Individual/Sole Proprietor CPD provider. This disqualification extends unitl one (1) year from their separation of/from the service.
2.1 A duly registered partnership, corporation, institution or organization;
2.2 The Articles of Incorporation/Partnership shall include as one of its purposes the training and development of professionals; or in the case of commercial or industrial enterprises, provides for the training and development of its own professionals; However, for those in partnership in the General Professional Partnerships (GPPs) who were accredited for Public Practice by the Board are deemed compliant;
2.3 Duly registered with the Bureau of Internal Revenue and the Securities and Exchange Commission and/or other pertinent government bodies;
2.4 At least one (1) partner or member of the board of directors or the head of its CPD program for professional accountants is a Certified Public Accountant with a valid PRC license; and
2.5 Can demonstrate capability to offer and provide CPD programs in a sustainable manner.