Sec 33 Seal and Use of Seal All license certified public accountants shall

Sec 33 seal and use of seal all license certified

This preview shows page 14 - 16 out of 16 pages.

Sec. 33. Seal and Use of Seal . - All license certified public accountants shall obtain and use a seal of a design prescribed by the Board bearing the registrant's name, registration number and title. The auditors reports shall be stamped with the said seal, indicating therein his/her current Professional Tax Receipt (PTR) number, date/place of payment when filed with government authorities or when used professionally. Sec. 34. Foreign Reciprocity . - Subject or citizen of foreign countries may be allowed to practice accountancy in the Philippines in accordance with the provisions of existing laws, international treaty obligations including mutual recognition agreement entered into by the Philippines government with other countries. A person who is not a citizen of the Philippines shall not be allowed to practice accountancy in the Philippines unless he/she can prove, in the manner provided by the Rules of Court that, specific provision of law country of which he/she is a citizen, subject or national admits citizens of the Philippines to the practice of the same profession without restriction. Sec. 35. Coverage of Temporary/Special Permits . - Special/temporary permit may be issued by the Board subject to the approval of the Commission and payment of the fees the latter has prescribed and charged thereof to the following persons: A foreign certified public accountant called for consultation or for specific purpose which, in the judgment of the Board, is essential for the development of the country: Provided, That his/her practice shall be limited only for the particular work that he/she is being engaged: Provided, further, That there is no Filipino certified public accountant qualified for such consultation or specific purposes;
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A foreign certified public accountant engaged as professor, lecturer or critic in fields essential to accountancy education in the Philippines and his/her engagement is confined to teaching only; and A foreign certified public accountant who is an internationally recognized expect or with specialization in any branch of accountancy and his/her service is essential for the advancement of accountancy in the Philippines. ARTICLE V PENAL AND FIINAL PROVISIONS Sec. 36. Penal Provision . - Any person who shall violate any of the provisions of this Act or any of its implementing rules and regulations as promulgated by the Board subject to the approval of the Commission, shall upon conviction, be punished by a fine of not less than Fifty Thousand Pesos (50,000.00) or by imprisonment for a period not exceeding two (2) years or both. Sec. 37. Implementing Rules and Regulations . - Within Ninety (90) days after the effectivity of this Act, the Board, subject to the approval of the Commission and in coordination with the accredited national professional organization of certified public accountants, shall adopt and promulgate such rules and regulations to carry out the provisions of this Act and which shall be effective Fifteen (15) days following their publication in the Official Gazette or in any of the major daily newspaper of general circulation.
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  • Spring '10
  • Gleim
  • International Financial Reporting Standards

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