aseancpA
ASEAN MONITORING COMMITTEE ON PROFESSIONAL ACCOUNTANCY
SERVICES OF THE PHILIPPINES
Resolution No. 01
Series of 2020
GUIDELINES ON THE SCOPE AND COVERAGE OF RELEVANT PRACTICAL
EXPERIENCE FOR FILIPINO CERTIFIED PUBLIC ACCOUNTANTS TO QUALIFY AS
ASEAN CHARTERED PROFESSIONAL ACCOUNTANTS
WHEREAS, the ASEAN Mutual Recognition Arrangement (MRA) on Accountancy
Services provides the framework for mutual professional recognition and borderless
practice of Professional Accountants within the ASEAN Region covering accountancy
services defined under Central Product Classification (CPC) 862 of the Provisional CPC
of the United Nations;
WHEREAS, Under Article 4.1.3 of the ASEAN MRA on Accountancy Services, one of the
qualifications to become an ASEAN Chartered Professional Accountant (ASEAN CPA) is
that he/she has acquired relevant practical experience of not less than three (3) years
cumulatively within a five year period following the qualifications referred in Article 4.1.1
of the ASEAN MRA on Accountancy Services;
WHEREAS, Article 10 of the ASEAN Monitoring Committee on Professional Accountancy
Services of the Philippines (AMCPASP) Resolution No. 1120 (A), series of 2018, provides
that a professional accountant shall be eligible for registration as an ASEAN CPA if he/she
has acquired relevant practical experience of not less than three (3) years cumulative
within a five (5) year period following the completion of accountancy degree and passing
the licensure examination for Certified Public Accountants in the Philippines;
WHEREAS, Paragraph 1.3 of Appendix II of the ASEAN MRA on Accountancy Services
provides that the exact definition of practical experience shall be at the discretion of the
Monitoring Committee concerned, but the work in question should be clearly relevant to
the fields of accountancy in which the Professional Accountants claim expertise;
WHEREAS, a guideline should be issued to clearly establish and define the scope of
coverage of the acquired relevant practical experience as guidance in the evaluation of
the qualifications of an applicant who intends to register as an ASEAN CPA;
AMCPASP Resolution No. 01, s of 2020
Guidelines on the Scope and Coverage of
Relevant Practical Experience for
Filipino Certified Public Accountants to
Qualify as ASEAN Chartered Professional Accountants
IN VIEW OF THE FOREGOING, the AMCPASP has RESOLVED, as it so RESOLVES
and ADOPTS the definition of Accountancy under the International Federation of
Accountants (IFAC) and Section 28 (A) Rule IV of R.A. No. 9298, otherwise known as the
Philippine Accountancy Act of 2004, excluding the preparation of tax returns, for the
purpose of defining the scope and coverage of Relevant Practical Experience under the
ASEAN MRA on Accountancy Services and AMCPASP Resolution No. 1120 (A), s. 2018.
A. ACCOUNTANCY DEFINED
The International Federation of Accountants (IFAC) ,the global organization of the
accountancy profession, defined Accountancy as a field of practice in which a
professional accountant provides the measurement, recognition, preparation,
analysis, and for disclosure of financial and relevant non-financial information or
auditing of a provision of assurance and advisory services on financial information,
and where applicable, non-financial information.
The fields of accountancy involve the study of accounting, auditing, finance, financial
management and/or tax in the Philippines, the practice also encompasses the practice
of public accountancy, practice in commerce and industry, practice in education and
practice in government;
B. RELEVANT PRACTICAL EXPERIENCE
Relevant practical experience as defined in Republic Act No. 9298, otherwise known
as the "Philippine Accountancy Act of 2004", shall include all accounting fields but not
limited to either of the following:
1. Public Practice of Accountancy - includes at least one (1) year as audit assistant
and at least two (2) years as auditor in charge of audit engaging covering full audit
functions of clients.
Provided, that those engaged in public practice have secured the necessary
Certificate of Accreditation from the Board in compliance with the law and the
Rules and Regulation appropriate thereto.
2. Commerce and Industry - includes significant involvement in general accounting,
budgeting, tax administration, internal (auditing with external auditors),
representing his/her employer before government agencies on tax and matters
related to accounting;
3. Academe or Education - includes teaching for at least three (3) trimesters or two
(2) semesters subjects in either financial accounting, business law and tax,
auditing problems, auditing theory, financial management and management
services. Provided, that the accumulated teaching experience on these subjects
shall not be less than three (3) school years;
AMCPASP Resolution No. 01s of 2020
Guidelines on the Scope and Coverage of
Relevant Practical Experience for
Filipino Certified Public Accountants to
Qualify as ASEAN Chartered Professional Accountants
4. Government - includes significant involvement in general accounting, budgeting,
tax administration, internal auditing, liaison with the Commission on Audit or any
other related functions;
However, work experiences that only relate to management advisory services or finance
shall not fall within the definition of relevant practical experience unless it involves
acquired experience in any of the fields of accounting, audit or financial management.
RESOLVED FURTHER, that the following guidelines shall be adopted:
1. Applicants who have work experience in any of the fields of accounting, audit and
financial management acquired singly or in combination shall fall within the
definition of "Relevant Practical Experience"; and
2. Applicants with work experience only in either management advisory services or
Finance shall not fall within the definition of "Relevant Practical Experience"
unless, he/she has acquired relevant experience in any of the fields of accounting,
audit and financial management.
This Resolution shall take effect immediately upon publication in the Official Gazette or in
any newspaper of general circulation, copy furnish the UP Law Center.
Let this Resolution be posted at the PRC, Professional Regulatory Board of Accountancy
and PICPA websites.
Done this 16th day of July , 2020 in the City of Manila, Philippines.
TEOFILO S. PILANDO, JR.
Chairman
NOE G. QUIFIANOLA GLORIA T. AYSA
Member Member
SA 1L = . PADILLA EV LYN . CORP
Member Member
CATE OF PUI3LICAT ION IN TNN
OFF G Itl-fGAZPT146 • .11/114 2.3, 24)2.c,
DATE OF EFPFCTIVI TY • I wirn--1,21A-rFi,,/
