BOA Chairman Joel L. Tan-Torres QUALITY ASSURANCE REVIEW PROGRAM.

Slides:

Advertisements

Similar presentations

PRESENTATION ON MONDAY 7 TH AUGUST, 2006 BY SUDHIR VARMA FCA; CIA(USA) FOR THE INSTITUTE OF INTERNAL AUDITORS – INDIA, DELHI CHAPTER.

Advertisements

BOA Chairman Joel L. Tan-Torres

BOA Chairman Joel L. Tan-Torres. The newly appointed BOA is committed to pursue its mandate as prescribed in Philippine Accountancy Law of 2004.

1 (DMH) Proposed Mental Health Services Act (MHSA) Issue Resolution Process.

The Corporate Laws Amendment Bill, B6/2006. © 2006 Deloitte Touche Tohmatsu Corporate Laws Amendment Bill, B6/2006 – 29 May 2006 Introduction Presenting.

Process of CG in Egypt Mohamed Omran Vice Chairman Cairo & Alexandria Stock Exchanges December, 13 th 2006.

1 Licensing in the Energy Sector Georgian National Energy And Water Supply Regulation Commission Nugzar Beridze June 27 – July 3, 2008.

Breach of a Requirement of the Code Marisa Orbea New York 19 June 2012.

Welcome! Internal Auditing CHAPTER 1. Definition Internal auditing is an independent, objective, assurance and consulting activity designed to add value.

PUBLIC SECTOR INTERNAL AUDIT IN THE REPUBLIC OF LITHUANIA Mr. Jonas Vaitkevičius Head of Internal Audit and Financial Control Methodology and Monitoring.

Updating Accounting and Auditing Legislation Restructuring the NBAA and establishing ICPAT.

Copyright © 2010 South-Western/Cengage Learning

Fair, Efficient and Open Competition Regulation Metropolitan Centre August 28, 2009 Preferential Sharing of Records Not Available to the Public.

Learning Objectives LO1 Describe the current audit environment, including developments in regulatory oversight and provincial regulation of public accountants.

Enhancing Participation of Consumers in Regulation Reforms in Electricity in Kenya Agnes Wachie 21 st April 2013 Nairobi Safari Club Hotel.

TEMPLATE PRESENTATION BY THE CHAIR OF THE WORKING GROUP TO CONDUCT THE TECHNICAL REVIEW OF THE BUDGET FEBRUARY, 2015 QMPR.

Pursuant to the Law on Collective Agreements the General, sectorial, territorial and company-level collective agreements are concluded on bipartite basis.

Internal Auditing and Outsourcing

IAIS Standards Setting Activities and the Insurance Core Principles Washington – 4 May 2004 Luc Cardinal – Member of Secretariat International Association.

PRESENTATION TO THE PORTFOLIO COMMITTEE ON ENERGY PROF YASWANT GORDHAN CA (SA) AUDIT COMMITTEE CHAIRPERSON 11 OCTOBER 2012.

INTERNAL AUDIT IN UKRAINE State Financial Inspection of Ukraine

OECD Guidelines on Insurer Governance

Requisites for Admission Any CPA who is residing or has his place of business in the locality of the Chapter, and who binds himself with the Art of I &

Principles of good practice Jana Kunická Community Philanthropy Initiative Coordinator European Foundation Centre.

Implementation Issues of Sarbanes-Oxley CASE Presentation September 23, 2004 By Denise Farnan.

The PAC-AG Relationship Parliamentary Financial Oversight Training Lilongwe Malawi George Phiri 1.

Draft Model Community Development Agreement Rationale.

International Federation of Accountants Organizational Overview and Update April 2002.

Texas Regional Entity Update Sam Jones Interim CEO and President Board of Directors July 18, 2006.

Revision of the CPA Board Licensure Examination Syllabus July 2015

Review of the Operational Policies and Guidelines: key issues from a civil society perspective Sven Harmeling, Germanwatch Held.

The Accounting Profession John V. Balanquit johnthecpa.wikispaces.com.

IFTA DISPUTE RESOLUTION PROCESS AMENDMENT PROPOSALS Present by Rick LaRose, Chair Dispute Resolution Committee Annual IFTA Business Meeting July 18-19,

Chapter 21 Internal, Operational, and Compliance Auditing McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

Introduction 1. Purpose of the Chapter 2. Institutional arrangements Country Practices 3. Legal framework Country Practices 4. Preliminary conclusions.

SAI & PAC Relationship Perspective from the Maldives “The work of an SAI, and its relations with parliament are key factors in a strong chain of accountability.

BoA Chairman Joel L. Tan-Torres QAR Roadmap for Implementation.

Legacy Report of Select Committee on Finance By: Zolani Rento Date: 09 July 2014.

PRESENTATION TO THE PORTFOLIO COMMITTEE ON TRADE AND INDUSTRY COMPANIES BILL [B ] 13 August 2008 By: Bernard Peter Agulhas – Acting Chief Executive.

Transfer of Technology Consultative Process Wanna Tanunchaiwatana Manager, Technology Climate Change Secretariat (UNFCCC) Asia and the Pacific Regional.

Mutual Recognition Arrangement for Accountancy Services Background and what CPAs should do to Prepare for this 3A series release 1 December 2015 BoA Chairman.

Main findings and recommendations of the Bulgaria A&A ROSC Update 12 December 2008 Luc Cardinal.

Professional Conduct, Independence, and Quality Control

Internal Audit Section. Authorized in Section , Florida Statutes Section , Florida Statutes (F.S.), authorizes the Inspector General to review.

INTERSTATE MEDICAL LICENSURE COMPACT In order to strengthen access to health care and in recognition of the advances in the delivery of health care....

BOA Chairman Joel L. Tan-Torres Mutual Recognition Arrangement On Accountancy Services.

Improving Compliance with ISAs Presenters: Al Johnson & Pat Hayle.

Overview of Standards on Cost Auditing By: CMA Pradip H.Desai.

GOVERNMENT ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS

ISSAI 100 Presentation to CAS Vilnius September 2012

July 21, 2016 Susie Neal Director QMS Compliance UTC

Presented by: Antony N. Gichia Regional Audit Center Mombasa

Session objectives After completing this session you will:

REPARIS Workshop Vienna

CHAPTER ONE OBJECTIVE AND GOAL

Money Bills Amendment Procedure and Related Matters Bill [B 75–2008]

Department of Environmental Affairs: Disagreement

Jacek Gdański Accounting Department

Presentation on the Joint Standing Committee on Financial Management of Parliament 07 September 2016.

Structure of the Code – Phase 2 TF Comments and Proposals

Aija Punāne LASA, Deputy Board Chairperson

Setting Actuarial Standards

July 21, 2016 Susie Neal Director QMS Compliance UTC

Canadian Auditing Standards (CAS)

TRADITIONAL HEALTH PRACTITIONERS’ BILL

17 April 2018 Progress report ccc General capacity requirements for SAIs for conducting IT audits.

Amendments to the Rental Housing Act, 1999 (Act No. 50 of 1999).

Progress made in technical assistance to County Governments

SOM14 14th Senior Officials’ Meeting December 2018 Manila, Philippines

Presentation transcript:

BOA Chairman Joel L. Tan-Torres QUALITY ASSURANCE REVIEW PROGRAM

Commitment of the Board of Accountancy to its Mandate

Philippine Accountancy Law of 2004

RA 9298 Section 9h “coordinate an oversight into the quality of audits of financial statements through a review of the quality control measures instituted by auditors in order to ensure compliance with accounting and auditing standards and practices.”

Quality Assurance Review Program

Historical Background DateEvent July 28, 2009 Issuance of BoA Resolution No. 88 to implement the QAR August 12, 2009 Execution of a MOA with SEC, BSP and IC, as well as, with PICPA February 2, 2010 Resolution No. 23: Some amendments to BoA Resolution No. 88

Historical Background DateEvent December 2010 Injunction case file by the group of small accountants in Public Practice with RTC 128 (Caloocan) to stop the implementation The QAR was not implemented! To date, the QAR is suspended; RTC order for the judicial arbitration between the parties

Historical Background DateEvent 2011 Issuance of PSQC 1 : Quality Control for Firms that Perform Audits and Reviews Issuance of PSW 220 : Quality Control for an Audit of Financial Statements

Recent Developments DateEvent July 05, 2014 Discussion between the BoA Chairman and the petitioners in the Caluya case July 06, 2014 Signing of the Cebu Accord Agreements and Principles that addressed the QAR disputed issues

Moving Forward ✓ Recommend to PRC the withdrawal of Resolutions 88 and 28 ✓ Recommend to PRC a new resolution for the QAR implementation ✓ Notify RTC 128 of mutual agreement upon resolution of the case

Guiding Principles ✓ The formulation of the Resolution and implementing rules and regulations (attached as to the Resolution as an annex) shall be consultative following a strict time table ✓ Discussions are based on mutual trust ✓ The right of the BoA to regulate the profession shall be recognized and respected

Developments to Date ✓ Dissemination of draft IRR and QAR resolution to sectoral organizations and social network (BoA Facebook) ✓ Conduct of public dialogues held last July 10 and Sept. 10, 2014 ✓ Attendance of BoA Chairman of the judicial arbitration in RTC Caloocan last September 4, 2014

Developments to Date ✓ Submission of several written comments on draft IRR ✓ Planned dissemination of revised IRR ✓ Ongoing address of QAR organizational and implementation requirements

With the support and cooperation of all stakeholders, our accountancy profession is well on its way towards instituting measures for the enhancement of our profession. Joel Tan Torres BoA Chairman