Code of Conduct

Question 1

republic act no. 9298

Answer 1

philippine accountancy act of 2004

Question 2

state recognize the importance of accountants in nation building & development

Answer 2

declaration of policy

Question 3

objectives

Answer 3

1) the standardization & regulation of acctng. education
2) the examination for registration of CPA; and
3) the supervision, control, & regulation of the practice of acctncy. in the PH

Question 4

scope of practice

Answer 4

1) practice of public accountancy
2) practice in commerce & industry
3) practice in education/academe
4) practice in the government

Question 5

required to use duly registered CPA if business has:

Answer 5

5M paid in capital
10M in annual revenue

Question 6

professional organization for CPA accredited by the Board & the commissions

Answer 6

accredited national professional organization of certified public accountants (APO)

Question 7

(BOA)

Answer 7

professional regulatory board of accountancy

Question 8

person who holds a valid certificate of registration & valid professional identification card by commission

Answer 8

certified public accountant (CPA)

Question 9

show CPA is duly accredited to practice public accountancy

Answer 9

certificate of accreditation

Question 10

bearing a registration no

Answer 10

certificate of registration

Question 11

code ethics approved by the commissions, & on what date & name

Answer 11

code of ethics for professional accountants

DEC 2003 per its PRC Resolution No. 83 series of 2003

Question 12

contains norms & principles governing the practice of accountancy profession

Answer 12

code of ethics for professional accountants

Question 13

signifying that the individual has complied w/ all the requirements

Answer 13

certificate of registration

Question 14

PRC is created under

Answer 14

RA Act No 8981

Question 14

(PRC)

Answer 14

professional regulation commission of the PH

Question 15

BOA is created under

Answer 15

RA Act No 9298

Question 16

org engaged in the practice of public accountancy

Answer 16

firm

Question 17

consist of sole proprietor, either alone or w/ one or more staff members

Answer 17

firm

Question 18

CPA engaged in the practice of public accountancy

Answer 18

individual cpa

Question 19

another name for PH accountancy act of 2004

Answer 19

implementing rules & regulations (IRR)

Question 20

philippine institute of CPA (PICPA)

Answer 20

professional org of CPAs accredited by the board & commission

Question 21

PICPA is created under, & on what date

Answer 21

PRC Accreditation No. 15 on OCT 2, 1975

Question 22

1)___ w/ validity of 2)__ years, bearing the registration no, date of issuance w/ an expiry date

Answer 22

1) professional identification card
2) 3 years

Question 23

study, appraisal, or review by the board/its duly representatives

Answer 23

quality review

Question 24

area of practice of accountancy

Answer 24

sector

Question 25

CPA employed by individual CPA, firm, or partnership

Answer 25

staff member

Question 26

documents showing the outline embodying topics & concepts of major subj in a course of study

Answer 26

syllabi

Question 27

Professional Regulatory Board of accountancy & its Composition board is composed of a 1)___ & 2)___ appointed by 3)___ from a list of 4)___ for each position & ranked by the 5)___, from a list of 6) ___ for each submitted by the 7)___.

Answer 27

(*NO ANSWER) 1) a chairman 2) 6 members 3) president of the PH 4) 3 recommendees 5) commission 6) 5 nominees 7) APO

Question 28

Professional Regulatory Board of accountancy & its Composition the 1)___ shall elect a 2)___ from among its members for a term of 3)___.

Answer 28

(*NO ANSWER) 1) board 2) vice-chairman 3) 1 year

Question 29

Time of submission of nomination to the Board by APO the APO shall submit its nomination w/ complete documentation to the 1)___ not later than 2)___ prior to the expiry of the term of an incumbent 3)___ or 4)___

Answer 29

(*NO ANSWER) 1) commission 2) 60 days 3) chairman 4) members

Question 30

Time of submission of nomination to the Board by APO If the APO fails to submits its own nominee, the 1)___ w/ the consultation of the 2)___ shall submit to the 3)___ a list of 4)___ for each vacant position

Answer 30

(*NO ANSWER) 1) commission 2) board 3) president 4) 3 nominees

Question 31

Qualifications of Members of the Professional Regulatory Board of Accountancy

Answer 31

1) must have natural born citizen & resident of the PH 2) must be a duly registered CPA w/ atleast 10 years of work experience 3) must have good moral character w/o convictions of crime 4) must not have pecuniary interest, directly or indirectly 5) must not be a director/officer of APO at the time of his appointment