Podcast
Questions and Answers
How long can a person serve the Professional Regulatory Board of Accountancy?
How long can a person serve the Professional Regulatory Board of Accountancy?
- 6 years
- 12 years
- 3 years
- 9 years (correct)
What is one of the powers, functions, and responsibilities of the Board of Accountancy?
What is one of the powers, functions, and responsibilities of the Board of Accountancy?
- To manage public transportation systems
- To regulate environmental policies
- To prescribe and adopt a Code of Ethics for the practice of accountancy (correct)
- To supervise the registration and licensure of architects
Which body assists the Board of Accountancy in monitoring professional standards?
Which body assists the Board of Accountancy in monitoring professional standards?
- WHO
- NASA
- FSRSC (correct)
- UNESCO
What is the maximum number of years a person can serve on the Board of Accountancy according to the regulations?
What is the maximum number of years a person can serve on the Board of Accountancy according to the regulations?
Which of the following is a responsibility of the Board of Accountancy?
Which of the following is a responsibility of the Board of Accountancy?
What is one role fulfilled by FSRSC and AASC in relation to the Board of Accountancy?
What is one role fulfilled by FSRSC and AASC in relation to the Board of Accountancy?
What is the first step in the standard-setting process?
What is the first step in the standard-setting process?
How long is the period for public comment on exposure drafts of Philippine Standards?
How long is the period for public comment on exposure drafts of Philippine Standards?
How many members' approval is required for issuing final Philippine Standards and Practice Statements?
How many members' approval is required for issuing final Philippine Standards and Practice Statements?
When do standards become effective?
When do standards become effective?
What is the role of the International Auditing and Assurance Standards Board (IAASB)?
What is the role of the International Auditing and Assurance Standards Board (IAASB)?
What is required for the issuance of exposure drafts?
What is required for the issuance of exposure drafts?
What is the primary aim of the ASEAN Mutual Recognition Arrangement (MRA) in Accounting?
What is the primary aim of the ASEAN Mutual Recognition Arrangement (MRA) in Accounting?
Under the ASEAN MRA, which of the following statements is true?
Under the ASEAN MRA, which of the following statements is true?
How many units in education are required for accreditation for accounting teachers?
How many units in education are required for accreditation for accounting teachers?
Which body is responsible for setting auditing and engagement standards in the Philippines?
Which body is responsible for setting auditing and engagement standards in the Philippines?
What type of standards does AASC in the Philippines generally adopt for auditing?
What type of standards does AASC in the Philippines generally adopt for auditing?
In the context of accreditation for accounting teachers, what is required regarding meaningful experience?
In the context of accreditation for accounting teachers, what is required regarding meaningful experience?
Which of the following is a correct statement regarding the composition of AASC?
Which of the following is a correct statement regarding the composition of AASC?
What is the correct term duration for the chairman and members of the AASC?
What is the correct term duration for the chairman and members of the AASC?
When do the pronouncements of AASC become operative after approval by PRC through BOA?
When do the pronouncements of AASC become operative after approval by PRC through BOA?
What is the authority level of Practice Statements issued by AASC?
What is the authority level of Practice Statements issued by AASC?
Which is NOT a correct characteristic of Engagement Standards?
Which is NOT a correct characteristic of Engagement Standards?
Who appoints the chairman and members of the AASC?
Who appoints the chairman and members of the AASC?
Which category must all CPAs be registered under according to the IRR of RA 9298?
Which category must all CPAs be registered under according to the IRR of RA 9298?
In the case of a partner's death in a two-member partnership, how long can the surviving partner continue to practice under the existing firm title including the deceased partner's name?
In the case of a partner's death in a two-member partnership, how long can the surviving partner continue to practice under the existing firm title including the deceased partner's name?
Which scenario violates RA 9298 and its IRR according to the information provided?
Which scenario violates RA 9298 and its IRR according to the information provided?
How many days after the death, dissolution, or liquidation of an individual CPA or a CPA firm must the event be reported to the BOA?
How many days after the death, dissolution, or liquidation of an individual CPA or a CPA firm must the event be reported to the BOA?
What action can a surviving partner take in a two-member partnership according to RA 9298 if the other partner dies?
What action can a surviving partner take in a two-member partnership according to RA 9298 if the other partner dies?
Which type of reports must all CPAs be registered to issue under RA 9298 and its IRR?
Which type of reports must all CPAs be registered to issue under RA 9298 and its IRR?
