Change Has Come

Uplifting the Filipino professional and accountancy profession to levels that exceed
global standards, the Board of Accountancy, with the CPAs from Philippine Institute of Certified
Public Accountants, sectoral accounting organizations and other accounting councils conducted
a forum to discuss the most significant changes to be made, issues to be discussed, and
developments to be undertaken to uphold the Accountancy profession.

The Board of Accountancy formulated a six-point strategy plan for the accountancy
profession. In line with the Accountancys profession for quality and governance measures,
Board of Accountancy released planned programs including Stress Management Project for
CPA examinees; setting up of e-libraries, Accounting cases development Project, Netizens
Search of Outstanding CPAs, Governance Reform and Oversight, and other programs paved
way for BOA to take its first step in expanding the horizons of the accountancy profession.

Secondly, to effectively regulate the profession, BOAs plans are to coordinate with other
regulators for better restraining of the profession. Posting of list of CPAs in public practice to
prevent unwanted fraud that can detriment the profession. It also includes the Prescribing
Schedule fines and penalties to Certified Public Accountants.

Coupled with the professional behavior and due competence of accountants are his
image and reputation. In its third step, BOA arranged certain measures to enhance the image
and reputation of an accounting professional which includes the implementation of Annual
Reporting Yearbooks, CSR projects, Accountancy Museum that can enrich the whole persona of
a Certified Public Accountant.

In enhancing the image and reputation of the accounting profession, BOA also aims to
enhance the stakeholders involvement and cooperation by holding Accountancy Stakeholders
Forum, tying up with Developmental Partners, intervening in government accountant issues and
requirements and meeting with Accountancy Regulators of other countries. To institute structural
changes, BOA plans to execute the streamlining of administration and preparation of CPA Board
Examination and the new CPA oath taking, the prescribing of deadlines for completion of FS
preparation and audit cycle and other programs.

Finally, for its last step, BOA wanted to provide communication and assistance
mechanisms to the public by creating websites, Facebook page, twitter, Sectoral and Career
Tracking surveys, Volunteer programs, Information Technology System Project, Propagation of
E-Working Papers for SMPs and other programs.

The six point expanding Horizons Strategic Plan of BOA with the support and
cooperation of the stakeholder of the profession is very much attainable. With all initiatives set
forth, the Filipino Accounting Profession will be set to global standards with proper management
execution of the said plan. With the 100+ projects ongoing, 6 strategy, 1 future goal profession
with infinite growth and opportunities, Change has come to the Accountancy Profession.