1. Accountancy Stakeholders Forum Tentative Results of Sectoral Surveys December 7, 2015

2. As of November 10, 2015 AE Survey Tabulation

3. NoneA few numberA large number No basis for responding 1.) The number of CPA Accounting educators in my academic institution who are NOT able to teach effectively due to lack of competency or updated knowledge is: 94102437 2.) The number of CPA accounting educators in the other educational institution who are NOT able to teach effectively due to lack of competency or updated knowledge is: 276422124

4. Strongly Disagree Disagree Neither Disagree or Agree Agree Strongly Agree 3.) The Continuing Professional Development (“CPD”) Program as implemented currently will go a long way in upgrading the CPA Accounting Educator profession. 12181311580 4.) I benefit from the CPD Program as implemented currently. 10 2013567

5. YesNo No basis for responding 5.) There are sufficient number of CPD courses that are relevant to an accounting educator. 1433826

6. Strongly disagree Disagree Neither Disagree of Agree Agree Strongly Agree 6.) Academic institutions and accounting educators should focus primarily on their accounting students being able to pass the COA board examination. 1958239548 7.) Academic institution should primarily focus on their accounting students being able to have appropriate competencies for their career or work in the future. 161169776

7. 8.) Comparing the two priorities indicated in statements (6) and (7) above, the higher the priority between the two that academic institutions and accounting educators should focus on is: Accounting students being able to pass the CPA board examinations. 85 Accounting students being able to have the appropriate competencies for their career or work in the future. 178

8. Strongly disagree Disagree Neither Disagree or Agree Agree Strongly Agree 9.) The BS in Accountancy curriculum needs to be revised 14204710351 10.) The BS in Accountancy curriculum should be a five (5) year degree program. 1149154711 11.) My academic institution is ready for the implementation of the Outcome Based Education 2669258731 12.) I am ready for the implementation of the Outcome Based Education 7273813131

9. SDDNASA 13.) The Board of Accountancy and Commission on Higher Education (CHED) should conduct quality inspections of the accountancy academic institutions in a regular basis. 761115662 14.) Appropriate sanctions should be imposed on academic institutions that are NOT able to pass the CPA examination passing benchmark for several years. 8152413860 15.) Academic institutions that are NOT able to pass the CPA examinations passing benchmark for several years should not be allowed to continue to offer BS in Accountancy program. 7243612449 16.) Academic institutions that are NOT able to pass the CPA board examination passing benchmark for several years should be able to shift to programs that provide for other accounting specialization that will not require being licensed through the CPA board examinations, such as BS Internal Audit, BS Forensic Audit, BS Management Accounting, BS Information Systems Audit, BS Accounting Technology. 10163612159 17.) The CPA Licensure Examination needs to be revised. 1028649740

10. YesNo 18.) I support the objective of mobility of accountancy services prescribed in the ASEAN Mutual Arrangement (ASEAN MRA) on Accountancy Services. 20310 19.) I am aware of the salient features of the ASEAN MRA on Accountancy Services. 13785

11. Commerce and Industry Survey As of November 10,2015

12. YESNO 1.My Company is presently hiring CPAs/accountants 3614 1.When hiring CPAs/accountants, my Company normally hires those with experience. 4213 1.My Company has a hard time hiring CPAs/accountants. 3614 1.My Company has a hard time hiring good CPAs/accountants. 3614

13. Strongly disagree Disagree Neither Disagree or Agree Agree Strongl y agree 1.I believe that the quality of CPAs/accountants available for hiring is declining. 4512250

14. I believe that the CPAs/accountants entering the commerce and industry sector SHOULD HAVE the following (select as many as warranted): 50 _____1. Satisfactory knowledge of basic accounting and bookkeeping 49 _____2. Knowledge of taxation and management advisory 38 _____3. Business acumen 44 _____4. Knowledge of current trends and events and their impact on business 42 _____5. Emphasis on governance and ethics 41 _____6. International Standards in Accounting 41 _____7. Analysis of data for use by management in planning and decision making 46 _____8. Competencies in the use of Information Technology

15. 52 _____9 Computer literacy, capacity to work with computerized accounting systems, basic Microsoft Office 30 _____10. Strategic and integrative mindset that understands the impact of output on other units 48 _____11. Analytical skills, i.e., creative thinking and thinking out of the box 44 _____12. Critical thinking, i.e., can prepare reports with analysis and recommendations 44 _____13. Capacity to communicate with non-accountants or to present financial data to non- accountants 51 _____14. Communication skills –capacity to communicate and interact with people 48 _____15. Values of integrity and honesty 41 _____16. Leadership skills – involved in extracurricular activities during college; can handle pressure at work

16. 44 _____17. Adaptability – can be assigned to different places and different assignments 47 _____18. Time management – ability to finish work on or before assigned deadlines 58 _____19. Self driven – can work with minimal guidance 6 _____20. Others, please specify I believe that the CPAs/accountants entering the commerce and industry sector IS LACKING IN the following (select as many as warranted): 7 _____1. Satisfactory knowledge of basic accounting and bookkeeping 22 _____2. Knowledge of taxation and management advisory 16 _____3. Business acumen

17. 20 _____4. Knowledge of current trends and events and their impact on business 17 _____5. Emphasis on governance and ethics 26 _____6. International Standards in Accounting 20 _____7. Analysis of data for use by management in planning and decision making 19 _____8. Competencies in the use of Information Technology 11 _____9 Computer literacy, capacity to work with computerized accounting systems, basic Microsoft Office 23 _____10. Strategic and integrative mindset that understands the impact of output on other units 20 _____11. Analytical skills, i.e., creative thinking and thinking out of the box 18 _____12. Critical thinking, i.e., can prepare reports with analysis and recommendations

18. 19 _____13. Capacity to communicate with non-accountants or to present financial data to non-accountants 13 _____14. Communication skills –capacity to communicate and interact with people 5 _____15. Values of integrity and honesty 20 _____16. Leadership skills – involved in extracurricular activities during college; can handle pressure at work 7 _____17. Adaptability – can be assigned to different places and different assignments 9 _____18. Time management – ability to finish work on or before assigned deadlines 13 _____19. Self driven – can work with minimal guidance 1 _____20. Others, please specify

19. YESNO 1.I am concerned with the fast turnover of CPAs/accountants in my Company. 2427 Strongly disagree Disagree Neither Disagree or Agree Agree Strongly agree 1. I believe that there is an increasing trend of CPAs/accountants going out of the country in order to work. 4462711 2. I believe that there is an increasing trend of CPAs/accountants working in the Business Process Outsourcing, Call Centers, or any other related occupation. 3252616

20. Below P15,000 monthly Between P15,001 and P20,000 Between P20,001 and P25,000 Between P25,001 and P30,000 Above P30,001 1. The hiring rate of CPAs/accountants with no experience in my Company is: 629820 2. The hiring rate of experienced CPAs/accountants in my Company is: 1913814 Strongly disagree Disagree Neither Disagree or Agree Agree Strongly agree 1.The Continuing Professional Development (“CPD”) Program as implemented currently will go a long way in upgrading the CPA accounting profession. 3012818

21. YESNO 15.I am interested in having accounting interns trained and work in my Company? 417 Strongly disagree Disagree Neither Disagree or Agree Agree Strongly agree 16.I believe that CPAs/accountants in the commerce and industry sector should strictly comply with the CPD requirements. 3103018 17. I support the objective of mobility of accountancy services prescribed in the ASEAN Mutual Arrangement (ASEAN MRA) on Accountancy Services. 6 39 18. I am aware of the salient features of the ASEAN MRA on Accountancy Services. 0810252 19. I believe that the work done by my external auditor has value added benefit to my Company. 11363012

22. Below P 50,000 Between P50,001 and P100,000 Between P100,001 and P200,000 Between P200,001 and PP300,000 Between P300,001 and P500,000 Above P500,001 20. The professional fees paid by my Company this year to the external auditor for their attest work is:. 8731718 In house staff Outsourced to external organization External auditor of the company 21. The accounting records of my Company are maintained by:5101 YESNO 22. The year end financial statements(FS) and notes to FS are prepared by the Company’s external auditor. 2625

23. Strongly disagree Disagree Neither Disagree or Agree Agree Strongly agree 23. I believe that it should be mandatory that there should be at least one CPA/accountant in the audit committee of companies in general. 81117 24. My academic background (accountancy graduate/CPA ) has prepared me adequately for my present position. (NOTE: IF NOT AN ACCOUNTING GRADUATE/CPA, PROCEED TO QUESTION 23) 3412324 25. My academic/training background (please specify____________________________) has prepared me adequately for my present position. 1301615

24. PP Survey Tabulation As of November 10, 2015

25. None A few number A large number No basis for responding 1.) The number of CPAs who are NOT able to do high quality audit service due to lack if competency or updated knowledge is: 17180100162 2.) The number of practicing CPAs who do NOT do high quality audit service due to low fees charged to clients for merely signing the audit opinions: 14157155131

26. Yes No 3.) I believe that situations exist where unfair competition from other CPAs who charge lower fees and who do not actual do quality audit service. 42244 4.) I have encountered situations of unfair competition from other CPAs who charge lower fees who do not actual do quality audit service. 321145

27. Strongly disagree Disagree Neither Disagree or Agree Agree Strongly Agree 5.) An effective quality assurance review of CPAs conducted by the regulator (ie.BOA) is needed to address the issues on unfair competition, lack of quality audit service, and other problems in the public practice sector of the profession. 33427322180 6.) I benefit from Continuing Professional Development Program as implemented currently. 17311274170 7.) The P600,000 of annual sales threshold prescribed in the Tax Code requiring external CPA audit of financial statements should be adjusted upwards. 439078152101 8.) The consolidation or merger of practice of sole practitioners should be encouraged to enhance the practice under partnership setup 4512610714429

28. Yes No 9.) I support the objective of mobility of accountancy services prescribed in the ASEAN Mutual Arrangement (ASEAN MRA). 34466 10.) I am aware of the salient features of the ASEAN MRA. 196225