The Professional Regulatory Council Board for Accountancy (PRC BOA) in the Philippines has approved G. Pagaspas Partners & Co., CPAs (GPP) last January 22, 2016 as one of the accredited Continuing Professional Development (CPD) Providers in the country. The accreditation of GPP will give the firm the authority to run seminars with CPD units for accountancy professionals in the Philippines.
Currently, the Certified Public Accounts (CPAs) are mandated to gain 60 CPD units within three years preceding the year of application for accreditation for the practice of public accountancy and accounting education as stated by Republic Act 9298 also known as the Accountancy Law of 2004. However in the last quarter of 2015, the Philippine Board of Accountancy is proposing to increase the CPD requirements from 60 CPD units to 120 CPD with gradual increase of 20 units per year in the next three years from 2017 to 2019. The CPD requirement will then cover not just CPAs in public practice and accounting education but all CPAs regardless of area or sector of practice.
These changes in the rules of the accountancy profession in the Philippines will open bigger opportunities to GPP Team in expanding their reach for advocacy campaign towards the profession through the conduct of seminars and forum nationwide.