REPUBLIC ACT NO.

9298
Article 1:
Title Philippine Accountancy Act of 2004
Declaration of Policy Objective:
o Standardization and regulation of
accounting education
o Examination for registration of
certified public accountants
o Supervision, control, and
regulation of the practice of
accountancy in the Philippines
Scope of practice:
o Practice of Public Accountancy,
o Commerce and Industry,
o Education/Academe and in the
Government

Article 3:

Article 2:

The Professional Regulatory Board of

Accountancy and its Composition:
o Chairman
o Six (6) members to be appointed
by the President of the
Philippines
*Board shall elect a vice-chairman
from among its members for a
term one (1) year
Qualifications of Members of the
Professional Regulatory Board:
o Natural born citizen of the
Philippines
o CPA with 10 yrs of experience in
any scope of accountancy
practice
o No crimes and no pecuniary
interest of any school
Term of office - three (3) years
Powers and functions of the board
Administrative Supervisions of the Board,
Custodian of its Records, Secretariat and
Support Services - Board shall be under
the administrative supervision of the
Commission
Grounds for Suspension or Removal of
Members of the Board
o Incompetence, Violation of this
Act, Moral Turpitude, and
Manipulation of CPA board
examination
Annual Report

The Certified Public Accountant Examinations

Qualifications of Applicants for Examinations:
o is a Filipino citizen and have good
moral character
o is a holder of the degree of Bachelor
of Science in Accountancy
o has not been convicted of any
criminal offense involving moral
turpitude
Scope of examination:
o Theory of Accounts, Business Law
and Taxation, Management Services,
Auditing Theory, Auditing Problems,
Practical Accounting Problems I &II
Rating in the Licensure Examination
o A general average of seventy- five
percent (75%)
o With no grades lower than sixty-five
percent (65%) in any given subject
Report of ratings
Roster of Certified Public Accountants
Failing Candidates to take refresher course
Oath
Issuance of Certificates of Registration and
Professional Identification Card
Indication of Certificate of Registration,
Identification Card and Professional Tax
Receipt
Refusal to Issue Certificate of Registration and
Professional Identification Card
Reinstatement, Reissuance and Replacement
of Revoked or Lost Certificates
Suspension and Revocation of Certificates of
Registration and Professional Identification
Card and Cancellation of Special Permit

Article 4:

Prohibition in the Practice of Accountancy

Coverage of Temporary/Special Permits
Limitation of the Practice of Public
Accountancy
Accreditation to Practice Public
Accountancy
Continuing Professional Education (CPE)
Program
Vested Rights: Certified Public
Accountants Registered When This Law is
Passed
Ownership of Working Papers
Accredited Professional Organization
Seal
Foreign Reciprocity
Article 5:

Penal Provision
Implementing Rules and Regulation
Interruptions of this act
Enforcement of the act
Funding provision
Transitory provision
Separability Clause
Repealing Clause
Effectivity