QAU Alert No 2016-21 Extension of Filing of Accreditation of CPAs in Commerce and Industry

The Professional Regulatory Commission Board of Accountancy has extended the filing of application of accreditation of CPAs in commerce and industry pursuant to the provision of BOA Resolution 68-2016 from April 30, 2016 to December 31, 2016. This means that more time will be provided to those CPAs to complete the CPD requirements needed.
In addition, the Financial Statements that shall be covered by the requirement of the submission of the Certificate of Compilation Services is now December 31, 2016 and subsequent periods. And, the gross sales threshold of the covered entities shall be adjusted after consultations with the affected stakeholders.