qar update wo pictures june 2015v (1)

7/26/2019 QAR Update Wo Pictures June 2015v (1)

1/14

BOA Chairman Joel L. Tan-Torres

UALITY ASSURANCE REVIEW PROGRA


2/14

Commitment of

the Board ofAccountancy

to its Mandate


3/14

PhilippineAccountancy Law of

2004


4/14

RA 9298 ection 9h

!coordinate an o"ersi#ht into the

$uality of audits of %nancialstatements throu#h a re"iew of the

$uality control measures instituted &yauditors in order to ensure compliancewith accountin# and auditin# standards

and practices'(


5/14

)uality AssuranceRe"iew Pro#ram

PRC

BOA

ACCOUNTING

PROFESSION

EXPANDINGHORIZONS


6/14

*istorical Bac+#roundDate Event

,uly 28- 2009

.ssuance of BoA Reo!"t#on No$

%% to implement the )AR

Au#ust /2-2009

1ecution of a MA with C- BPand .C- as well as- with P.CPA

3e&ruary 2-20/0

Reo!"t#on No$ &' ome

amendments to BoA Resolution 5o'88


7/14

*istorical Bac+#roundDate Event

6ecem&er20/0

.n7unction case %le &y the #roup of

small accountants in Pu&lic Practicewith RC /28 Caloocan: to stop theimplementation

The QAR was notimplemented!

o date- the )AR is suspended; RC order for the7udicial ar&itration &etween the parties


8/14

*istorical Bac+#round

Date Event

20// I"an(e o) PSQC * )ualityControl for 3irms that Perform Auditsand Re"iews

I"an(e o) PSW &&+ )ualityControl for an Audit of 3inancialtatements


9/14

Recent 6e"elopmentsDate Event

,uly 0


10/14

Mo"in# 3orward Recommend to PRC the withdrawal of

Resolutions 88 and 28

Recommend to PRC a new resolutionfor the )AR implementation

5otify RC /28 of mutual a#reementupon resolution of the case


11/14

>uidin# Principles he formulation of the Resolution and

implementin# rules and re#ulations

attached as to the Resolution as an anne1:shall &e consultati"e followin# a strict timeta&le

6iscussions are &ased on mutual trust

he ri#ht of the BoA to re#ulate theprofession shall &e reco#ni?ed andrespected


12/14

6e"elopments to 6ate 6issemination of draft .RR and )AR

resolution to sectoral or#ani?ations and

social networ+ BoA 3ace&oo+: Conduct of pu&lic dialo#ues held last ,uly

/0 and ept' /0- 20/4

Attendance of BoA Chairman of the 7udicialar&itration in RC Caloocan last eptem&er4- 20/4


13/14

6e"elopments to 6ate u&mission of se"eral written comments

on draft .RR

Planned dissemination of re"ised .RR n#oin# address of )AR or#ani?ational

and implementation re$uirements


14/14

With the support andcooperation of allstakeholders, our

accountancy profession iswell on its way towards

instituting measures for the

enhancement of ourprofession.

/oe! Tan To--eBoA C0a#-1an

qar update wo pictures june 2015v (1)

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