Code of Conduct Flashcards

1
Q

republic act no. 9298

A

philippine accountancy act of 2004

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2
Q

state recognize the importance of accountants in nation building & development

A

declaration of policy

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3
Q

objectives

A

1) the standardization & regulation of acctng. education
2) the examination for registration of CPA; and
3) the supervision, control, & regulation of the practice of acctncy. in the PH

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4
Q

scope of practice

A

1) practice of public accountancy
2) practice in commerce & industry
3) practice in education/academe
4) practice in the government

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5
Q

required to use duly registered CPA if business has:

A

5M paid in capital
10M in annual revenue

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6
Q

professional organization for CPA accredited by the Board & the commissions

A

accredited national professional organization of certified public accountants (APO)

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7
Q

(BOA)

A

professional regulatory board of accountancy

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8
Q

person who holds a valid certificate of registration & valid professional identification card by commission

A

certified public accountant (CPA)

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9
Q

show CPA is duly accredited to practice public accountancy

A

certificate of accreditation

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10
Q

bearing a registration no

A

certificate of registration

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11
Q

code ethics approved by the commissions, & on what date & name

A

code of ethics for professional accountants

DEC 2003 per its PRC Resolution No. 83 series of 2003

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12
Q

contains norms & principles governing the practice of accountancy profession

A

code of ethics for professional accountants

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13
Q

signifying that the individual has complied w/ all the requirements

A

certificate of registration

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14
Q

PRC is created under

A

RA Act No 8981

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14
Q

(PRC)

A

professional regulation commission of the PH

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15
Q

BOA is created under

A

RA Act No 9298

16
Q

org engaged in the practice of public accountancy

A

firm

17
Q

consist of sole proprietor, either alone or w/ one or more staff members

A

firm

18
Q

CPA engaged in the practice of public accountancy

A

individual cpa

19
Q

another name for PH accountancy act of 2004

A

implementing rules & regulations (IRR)

20
Q

philippine institute of CPA (PICPA)

A

professional org of CPAs accredited by the board & commission

21
Q

PICPA is created under, & on what date

A

PRC Accreditation No. 15 on OCT 2, 1975

22
Q

1)___ w/ validity of 2)__ years, bearing the registration no, date of issuance w/ an expiry date

A

1) professional identification card
2) 3 years

23
Q

study, appraisal, or review by the board/its duly representatives

A

quality review

24
Q

area of practice of accountancy

A

sector

25
Q

CPA employed by individual CPA, firm, or partnership

A

staff member

26
Q

documents showing the outline embodying topics & concepts of major subj in a course of study

A

syllabi

27
Q

Professional Regulatory Board of accountancy & its Composition

board is composed of a 1)___ & 2)___ appointed by 3)___ from a list of 4)___ for each position & ranked by the 5)___, from a list of 6) ___ for each submitted by the 7)___.

A

(*NO ANSWER)
1) a chairman
2) 6 members
3) president of the PH
4) 3 recommendees
5) commission
6) 5 nominees
7) APO

28
Q

Professional Regulatory Board of accountancy & its Composition

the 1)___ shall elect a 2)___ from among its members for a term of 3)___.

A

(*NO ANSWER)
1) board
2) vice-chairman
3) 1 year

29
Q

Time of submission of nomination to the Board by APO

the APO shall submit its nomination w/ complete documentation to the 1)___ not later than 2)___ prior to the expiry of the term of an incumbent 3)___ or 4)___

A

(*NO ANSWER)
1) commission
2) 60 days
3) chairman
4) members

30
Q

Time of submission of nomination to the Board by APO

If the APO fails to submits its own nominee, the 1)___ w/ the consultation of the 2)___ shall submit to the 3)___ a list of 4)___ for each vacant position

A

(*NO ANSWER)
1) commission
2) board
3) president
4) 3 nominees

31
Q

Qualifications of Members of the Professional Regulatory Board of Accountancy

A

1) must have natural born citizen & resident of the PH
2) must be a duly registered CPA w/ atleast 10 years of work experience
3) must have good moral character w/o convictions of crime
4) must not have pecuniary interest, directly or indirectly
5) must not be a director/officer of APO at the time of his appointment