Frequently Asked Questions
What is PICPA?
PICPA stands for the Philippine Institute of Certfied Public Accountants. It is the national organization of all certified public accountants (CPAs)
Its MISSION is to serve all accountants in any field of practice whether it be Public Accounting, Government, Commerce and Industry or Education.
Its OBJECTIVES are:
- To protect and enhance the credibility of the CPA certficate in the service of the public;
- To maintain high standards in accountancy education;
- To instill ideas of professionalism, ethics, and competence among accountants; and
- To foster unity and harmony among its members
What is Continuing Professional Education?
Continiung Professional Education (CPE) refers to the inculcation, assimilation and acquisition of knowledge, skills, proficiency, ethical and moral values, to raise and enhance the professional’s level of competence.
What are the objectives of the CPE Program for CPAs?
The CPE Program CPAS aims:
- To ensure the continuous education of registered professional accountants on the latest trends in the profession brought about by modernization, scientific and technological advances;
- To promote and protect the general welfare of the public;
- To raise and maintain the professional’s capability for delivering quality professional services;
- To instill and maintain the highest technical and ethical standards of the practice of the accounting profession; and
- To make Filipino accounting the professionals globally competitive.
What are the statutory bases of CPE for CPAs?
Section 32 of RA No. 9298 on Continuing Professional Education (CPE) Program states that all certified public accountants shall abide by the requirements, rules and regulations on continuing professional education to be promulgated by the Board, subject to the approval of the Commission, in coordination with the accredited national professional organization of certified public accountants or any duly accredited educational institutions. For this purpose, a CPE Council is hereby created to implement the CPE program.
Section 24 of RA No. 9298 on Suspension and Revocation of Certificates of Registration and Professional Identification Card and Cancellation of Special Permit states that the Board shall have the power, upon due notice and hearing, to suspend or revoke the practitioner’s certificate of registration and professional identification card or suspend him/her profession or cancel his/her special permit for any of the causes or grounds mentioned under Section 23 of this Act or for any unprofessional or unethical conduct, malpractice, violation of any of the provisions of this Act, and its implementing rules and regulations, the Certified Public Accountant’s Code of Ethics and the technical and professional standards of practice for certified public accountants.
Section 20 of RA No. 9298 on Issuance of Certificates of Registration and Professional Identification Card states that a certificate of registration shall be issued to examinees who pass the licensure examination subject to payment of fees prescribed by the Commission. The Certificate of Registration shall bear the signature of the chairperson of the Commission and the chairman and members or the Board, stamped with the official seal of the Commission and of the Board, indicating that the person named therein is entitled to the practice of the profession with all privileges appurtenant thereto. The said certificate shall remain in full force and effect until withdrawn, suspended or revoked in accordance with this Act.
A Professional Identification Card bearing the registration number, date of issuance, expiry date, duly signed by the chairperson of the Commission, shall likewise be issued to every registrant renewable every three (3) years.
Who compose the CPE Councils for Accountancy?
There are two CPE Councils created for purpose of implementing the CPE provision of RA 9298 known as the Philippine Accountancy Act of 2004. They are the PRC CPE Council for Accountancy and the PICPA CPE Council.
What are the functions of the PRC CPE Council?
- Evaluate and approve applications for accreditation of CPE providers;
- Evaluate and approve applications for accreditation of CPE programs, activities or sources as their relevance to the profession and determine the number of CPE credit units to be earned on the basis of the contents of the program, activity or source as submitted by the CPE provider;
- Evaluate and approve applications for exemption from CPE requirements;
- Monitor periodically the implementation of programs, activities or sources;
- Assess periodically and upgrade the criteria for accreditation of CPE providers and CPE programs, activities or sources; and
- Perform such other related functions that may be incidental to the implementation of the CPE programs or policies for Accountancy.
What are the functions of the PICPA CPE Council?
The PICPA CPE Council shall exercise functions, which shall include, but not limited to the following:
- The develop the continuing professional education programs for CPAs;
- To assist the PICPA Board of Directors in crafting policies, systems and procedures particularly for the continuing professional education of CPAs;
- To assist the CPAs in maintaining their professional knowledge and competence by helping them identify their professional development needs and to set the standards for CPE programs developments needs and to set the standards for CPE programs development to ensure that these needs are met;
- To organize and manage the CPE Division of PICPA and monitor proper implementation of CPE programs;
- To ensure proper dissemination of the necessity of CPE to the accountancy profession as well as updates on the various CPE activities;
- To oversee the program development of the different accredited CPE providers and make sure that these are aligned with the CPE Program standards set by the council;
- To make the council members available as resource persons in various CPE programs;
- To serve as the processing arm of the PRC CPE Council specifically on the following tasks:
- Accept and process applications for accreditation of CPE providers;
- Accept and process applications for accreditation of CPE programs, activities or sources as to their relevance to the profession and determine the number of CPE credit units to be earned on the basis of the contents of the program, activity or source as submitted by the CPE provider;
- Accept and process applications for exemption from CPE requirements;
- Coordinate with the PRC CPE Council in monitoring the implementation of programs, activities or sources. Any member of the council may perform visitorial functions while the program is being conducted;
- Coordinate with the PRC CPE Council in assessing and upgrading the criteria for accreditation of CPE providers and CPE programs, activities or sources; and
- Maintain a record of CPE credits earned by each participant and issue a certification thereof upon request by the participants.
What are the specific duties and functions of the PICPA CPE Council Secretariat?
The duties and functions of the PICPA CPE Council Secretariat are:
- To receive and submit to the PICPA CPE Council application for accreditation of CPE providers and CPE programs, activities, or sources;
- To release Certificates of Accreditation to CPE providers and programs, activities, or sources;
- To release CPE Certifications of credit units earned to professionals;
- To keep all the records, and other documents relative to the accreditation of CPE programs, activities, or sources; and
- To maintain records of accredited CPE providers, ongoing, continuing or completed CPE programs, activities, or sources, the list of participants and other relevant data.
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