QAU Alert No 2016-17 BOA Resolution

The Professional Regulatory Board of Accountancy issued BOA Resolution 05-2016 regarding the additional requirements for the initial applications for and renewal of registration or accreditation of Individual Certified Public Accountant, Firms and Partnerships of Certified Public Accountants engaged in the practice of public accountancy.
The BOA prescribes the following additional requirements for the initial application for and renewal of registration or accreditation:
1. Conduct of visitation of the principal office where the CPAs are employed or practicing. For this purpose, the corresponding inspection fee shall be paid by the applicant;
2. Completion of the Quality Accreditation Checklist;
3. Presentation of the Certificate of Membership in Good Standing (COMGS) issued by the current Accredited Integrated Professional Organization (AIPO) of accountants; and
4. Presentation of the Professional Tax Receipt (PTR) of the CPAs, in lieu of the business or mayors permit that was previously required.
Those who have been previously granted registration or accreditation prior to the effectivity of this Resolution may be subjected to the aforementioned additional requirements, as may be reasonably determined by the Board.
This Resolution shall take effect after fifteen (15) days following its publication in the Official Gazette or in any newspaper of general circulation in the Philippines.