requirement shall not apply to those already granted a certificate of

Requirement shall not apply to those already granted

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requirement shall not apply to those already granted a certificate of accreditation prior to the effectivity of this Act. The Security and Exchange Commission shall not register any corporation organized for the practice of public accountancy. Sec. 29. Ownership of Working Papers . - All working papers, schedules and memoranda made by a certified public accountant and his staff in the course of an examination, including those prepared and submitted by the client, incident to or in the course of an examination, by such certified public accountant, except reports submitted by a certified public accountant to a client shall be treated confidential and privileged and remain the property of such certified public accountant in the absence of a written agreement between the certified public accountant and the client, to the contrary, unless such documents are required to be produced though subpoena issued by any court, tribunal, or government regulatory or administrative body. Sec. 30. Accredited Professional Organization . - All registered certified public accountants whose appear in the roster of certified public accountants shall be united and integrated though their membership in a one and only registered and accredited national professional organization of registered and licensed certified public accountants, which shall be registered with the Securities and Exchange Commission as a nonprofit corporation and recognized by the Board subject to the approval by the Commission. The members of the said integrated and accredited national professional organization shall receives benefits and privileges appurtenant thereto upon payment of required fees and dues. Membership in the integrated organization shall not be a bar to membership in any other association of certified public accountants. Sec. 31. Accreditation to Practice Public Accountancy . - Certified public accountants, firms and partnerships of certified public accountants, engaged in the practice of public accountancy, including partners and staff members thereof, shall registered with the Commission and the Board, such registration to be renewed every three (3) years: Provided, That subject to the approval of the Commission, the Board shall promulgate rules and regulations for the implementation of registration requirements including the fees and penalties for violation thereof. Sec. 32. Continuing Professional Education (CPE) Program . - 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 institutional. For this purpose, a CPE Council is hereby created to implement the CPE program.
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  • Spring '10
  • Gleim
  • International Financial Reporting Standards

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