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BOA Chairman Joel L. Tan-Torres. May 18, 2014 The new Board of Accountancy and well wishers.

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Presentation on theme: "BOA Chairman Joel L. Tan-Torres. May 18, 2014 The new Board of Accountancy and well wishers."— Presentation transcript:

1 BOA Chairman Joel L. Tan-Torres

2 May 18, 2014 The new Board of Accountancy and well wishers

3 The newly appointed BOA is committed to pursue its mandate as prescribed in Philippine Accountancy Law of 2004 and as required by the PRC in the context of recent developments and available resources. With the support of the PRC leadership and the various stakeholders of the profession, the BOA and the accountancy profession is ready in Expanding Horizons

4 The essentials for Expanding Horizons:  Commitment to pursue ALL mandates  Support of and close coordination with PRC and various stakeholders  Provide and implement solutions for identified constraints  Implement an ASAP time line

5 Provide solutions for identified constraints: Identified constraints  Lack of resources  Bureaucratic system  Inherent nature of the BOA appointees

6 Provide solutions for identified constraints: Provide solutions  Work within the bureaucratic system with “Out of the box” solutions  Tap available internal and international resources  Formulate an Executive Order to provide a support organization  Adopt the ASAP mind set

7 In Expanding Horizons, the BoA has identified sixty seven (67) projects in six sectoral and interest areas:  Public Practice  Commerce and Industry  Education  Government  International  Special Projects

8 a.Enhance the delivery of the Continuing Professional Development program PUBLIC PRACTICE PROJECTS b.Implement an effective Quality Assurance Review system c. Post the list of registered and accredited CPAs in the BoA website d. Mandate the submission of monitoring and management reports e.Review the accreditation system f. Coordinate with SEC, BSP, IC and CDA in the accreditation of CPAs in public practice g.Institute an effective rewards and sanction system h.Streamline the audit standards setting process i.Address the concerns of and issues pertaining to small practitioners

9 a.Encourage the participation of private firms in the internship program for accounting students COMMERCE & INDUSTRY PROJECTS b.Streamline the accounting standards setting process c.Adopt a survey and feedback system on accountancy issues and matters d.Initiate a campaign for the renewal of PRC license and membership in the APO e.Enhance the competence and capability of members of the audit committee of companies

10 a.Conduct regular review of CPA examination syllabus and subjects EDUCATION PROJECTS b.Enhance the administration of CPA licensure examination c. Conduct regular review of curriculum of accounting schools d. Review the accreditation system of accounting teachers e.Conduct regular assessments of accounting schools f. Initiate a training/ education program for accounting technicians and agents of BPO g.Institutionalize an internship program for accounting students h.Post the performance metrics of accounting schools i.Coordinate the holding of accounting student’s or school’s competitions in various discipline j.Work in further instilling in accounting students the sills or value of professional ethics, analytical thinking, effective communication, and the use of technology tools k.Expand JPIA involvement in accountancy issues and matters l.Initiate a campaign for renewal of PRC license and membership in PICPA m.Post the list of accredited CPA teachers in the BOA website

11 a.Initiate a campaign for the renewal of PRC license and membership in the APO GOVERNMENT PROJECTS b.Review the Continuing Professional Development c. Pursue the mandatory inclusion of CPA qualifying standards for appointments or promotions to relevant government positions d.Coordinate with COA, DBM, SEC, and BSP on government accounting issues and matters e.Coordinate with BIR in its campaign on CPA tax compliance f.Coordinate with the DOF for the operationalization of the Tax Academy for the CPA officials and staff in the BIR, BOC and local government units

12 a.Pursue the immediate appointment of the 3 remaining vacancies b.*Establish a branch office c.*Work the issuance of an Executive Order to create a Technical and Secretariat Support Office for the BoA d.*Pursue amendments of RA 9298 e.* SPECIAL PROJECTS e.Pursue the PGS Accountancy Roadmap initiative f. *Conduct a Project Accntnt campaign e. *Initiate an “Outstanding Sectoral Organization” and other award projects f.Coordinate closely with PICPA in the administration of the Accountancy Week Celebration g.*Enhance the administration of activities on the Oath taking of new CPAs h.*Establish the effective social media and traditional media network k. *up with a regularly issued newsletter entitled “News Ledger” l. *Purse with a major newspaper company for an accountancy column entitled “Debit & Credit” m. Publish a Technical Research Journal on a regular basis n.*Publish brochures and flyers on BoA matters * o. Create a BoA website p.Establish a BoA library q.Initiate the establishment of a Museum of Accountancy r. Initiate the construction of a BoA building s.* Pursue outreach projects t.Establish linkages with accountancy related bodies

13 a.Pursue the finalization and implementation of the ASEAN and other countries’ MRA INTERNATIONAL PROJECTS b.Consider bidding for the hosting of the Secretariat for the ASEAN Coordinating Committee of Accountancy c. Implement the relevant recommendations of reports of World Bank, IMF, ADB and other multilateral institutions d.Conduct surveys or studies of best practices in other countries e.Establish benchmarking accountancy practices with other countries f.Establish linkages with donor or funding agencies for future projects

14 Major developments in the accountancy practice  Propagate the Mutual Recognition Arrangement  Implement the Quality Assurance Review  Propagate the Code of Ethics  Accelerate the Performance Governance System and Accountancy Road map  Establish an extension office  Enhance the Public practitioner/educator accreditation system  Enhance the Continuing Professional Development  Prescribe the submission of management reports  Coordinate with BIR, BSP, SEC and PDIC on practitioner compliance  Institute an effective reward and sanction system  Focus on concerns of Small practitioners  Create a BoA website

15 Major developments in the accountancy practice  Lead the oath taking activities for 1,107 new CPAs in Sept. 2 in PICC  Establish linkages with accounting related certification bodies  Prescribe a Certificate of FS preparation by Chief Accountants  Review the CPA examination syllabus  Coordinate with CHED in the review of the accounting curriculum  Coordinate with DepEd in providing quality accounting teachers for K to12  Initiate an “Most Outstanding Sectoral Organization” award  Encourage the establishment of more sectoral chapters

16 Major developments in the accountancy practice  Inititate Project Accntnt  Implement Project “ABC of Accountancy atb.”  Come up with newsletter called “News Ledger”  Initiate a weekly newspaper column called “Debit and Credit”  Publish periodically a technical research journal called “Highest Standards”  Publish a coffee book entitled “Champion CPAs”  Prepare for the forthcoming resolutions  Pursue amendments in RA 9298  Propagate the social network: boa. and email:

17 BIG DREAMS Establish an Accountancy Library Establish an Accountancy Conference Area Establish a Museum of Accountancy Establish an Accountancy Building














31 EXPANDING “EH” 1. EH Oath and commitment 2. Print and distribute EH flyers and brochures 3. Posting of EH tarpaulins 4. “Selfie” EH 5. Social media EH 6. EH Volunteer

32 With the support and cooperation of all stakeholders, our accountancy profession is well on its ways towards Expanding Horizons and becoming the No. 1 profession in the country BOA Chairman Joel L. Tan-Torres

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