DEFERMENT OF THE IMPLEMENTATION OF PARAGRAPH 13 AND 14(4) OF RESOLUTION NO. 2016 – 68, IN RELATION TO BOARD RESOLUTION NO. 2016 – 03, AS AMENDED

BOARD OF ACCOUNTANCY

Manila, April 12, 2017 – Pursuant to Board Resolution No. 2017 - 163, the Board of Accountancy (Board) defers the implementation of paragraphs 13 and 14 (4) of Board Resolution No. 68 – 2016 in relation to Board Resolution No. 03 – 2016, as amended, until such time that a monitoring mechanism shall have been established, after consultation and dialogue with relevant government agencies and other stakeholders.

Paragraphs 13 and 14 (4) of Board Resolution No. 68 – 2016 require external auditors to notify the Board of any omission or non – compliance with the provisions of the Board Resolution Nos. 2016 – 03, 2016 – 68 and other relevant issuance/s of the Board, with corresponding penalties in case if failure or breach of such obligation by the external auditor.

The requirement for the submission of the Certificate of Compilation Services by accredited Certified Public Accountants required in Board Resolution 03 – 2016 continues.

The Board announces that the stakeholder’s dialogue and consultation is scheduled on May 12, 2017, at 1:00 PM at the PRC Bulwagang Nubla, 5th floor, Annex Building. For confirmation of attendance, click HERE.

To view full text Resolution No. 163, Series of 2017, click HERE.