Cpa-Philippine Accountancy Act of 2004

4789 Words Feb 21st, 2012 20 Pages
Republic Act No. 9298
May 13, 2004 "Philippine Accountancy Act of 2004" An Act Regulating the Practice of Accountancy in the Philippines, Repealing for the purpose Presidential Decree No. 692, Otherwise known as The Revised Accountancy Law, appropriating funds therefor and for other purposes.
Republic of the Philippines
Congress of the Philippines
Metro Manila
Twelfth Congress
Third Regular Session
Begun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand three.
Republic Act No. 9298 May 13, 2004
AN ACT REGULATING THE PRACTICE OF ACCOUNTANCY IN THE PHILIPPINES, REPEALING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 692, OTHERWISE KNOWN AS THE REVISED ACCOUNTANCY LAW, APPROPRIATING FUNDS THEREFOR AND FOR
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ARTICLE II
PROFESSIONAL REGULATORY BOARD OF ACCOUNTANCY
Section 5. The Professional Regulatory Board of Accountancy and its Composition. - The Professional Regulatory Board of Accountancy, hereinafter referred to as Board, under the supervision and administrative control of the Professional Regulation Commission, hereinafter referred to as the Commission, shall be composed of a Chairman and six (6) members to be appointed by the President of the Philippines from a list of three (3) recommendees for each position and ranked by the Commission from a list of five (5) nominees for each position submitted by the accredited national professional organization of certified public accountant. The Board shall elect a vice-chairman from among each members for a term of one (1) year. The chairman shall preside in all meetings of the Boards and in the event of a vacancy in the office of the chairman, the vice-chairman shall assume such duties and responsibilities until such time as a chairman is appointed.
Section 6. Qualifications of a members of the Professional Regulatory Board. - A member of the Board shall, at the time of his/her appointment, posses the following qualifications: Must be a natural-born citizen and a resident of the Philippines; Must be a duly registered Certified Public Accountant with at least ten (10) years of work