Practice and Regulation of the Accountancy Profession Flashcards
1
Q
The PH Accountancy Act of 2004 in under RA No.?
A
9298
2
Q
Professional Regulatory Board of Accountancy BOA Composition
A
Total of 6 members - To be appointed by the President of PH
Vice Chairman shall be elected from among its members for a term 1 year
3
Q
RA 9298 Penal and Final Provision
A
Penal Provision - Any person who violate any of the provision of the ACT be punished by a fine not less than 50K OR by imprisonment for a period not exceeding 2 years or both
4
Q
The Commission, upon the recommendation of the Board, shall create an accounting standard setting body to be known as the
A
Financial Reporting Standards Council (FRSC)
