Bangko Sentral ng Pilipinas Minimum of five corporate At least 30 hours in addition to the Category A clients with total assets of at At least five years of BOA's prescribed training hours, in least 50 million pesos each. audit experience as subjects like IFRS, ISA, corporate 2,000 pesos for Minimum of three corporate associate, partner, lead governance, taxation, code of BOA sole practitioner Category B clients with total assets of at 3 years partner, concurring ethics, regulatory requirements of Accreditation / 5,000 pesos for least 25 million pesos each. partner, or SEC, IC, and BSP or other firm Minimum of three corporate government agencies, and other Category C clients with total assets of at topics relevant to the practice. least 5 million pesos each. Insurance Commission GROUP A: (a) Insurance companies; (b) At least five years For those with no specific audit Reinsurance experience in external experience, at least 40 hours in companies; and audit as in-charge, insurance/reinsurance (c) Mutual manager, or partner or accounting/auditing seminars; and 2,000 pesos for Benefit its equivalent. Auditor No less than 2 years of specific for renewal, at least 36 hours BOA sole practitioner Associations. must have adequate audit experience on type of 3 years seminar for the last three years, all Accreditation / 5,000 pesos for established quality entity covered. Group B (a) conducted by the Institute of firm assurance procedures Insurance and Internal Auditors Philippines or applicable to the type of reinsurance other organization recognized by entities covered by the brokers; (b) the IC. accreditation. General agents; and (c) Trust for charitable uses.
Bangko Sentral ng Pilipinas Category A At least five years of audit experience as associate, partner, lead partner, concurring partner, or At least 30 hours in addition to the BOA's prescribed training hours, in subjects like IFRS, ISA, corporate governance, taxation, code of ethics, regulatory requirements of SEC, IC, and BSP or other government agencies, and other topics relevant to the practice. Minimum of five corporate clients with total assets of at least 50 million pesos each. BOA Accreditation 3 years 2,000 pesos for sole practitioner / 5,000 pesos for firm Category B Minimum of three corporate clients with total assets of at least 25 million pesos each. Category C Minimum of three corporate clients with total assets of at least 5 million pesos each. Insurance Commission GROUP A: (a) Insurance companies; (b) Reinsurance companies; and (c) Mutual Benefit Associations. At least five years experience in external audit as in-charge, manager, or partner or its equivalent. Auditor must have adequate established quality assurance procedures applicable to the type of entities covered by the accreditation. For those with no specific audit experience, at least 40 hours in insurance/reinsurance accounting/auditing seminars; and for renewal, at least 36 hours seminar for the last three years, all conducted by the Institute of Internal Auditors Philippines or other organization recognized by the IC. No less than 2 years of specific audit experience on type of entity covered. BOA Accreditation 3 years 2,000 pesos for sole practitioner / 5,000 pesos for firm Group B (a) Insurance and reinsurance brokers; (b) General agents; and (c) Trust for charitable uses.
120118-REVISED-change-to-PUBLIC-Philippines-ROSC-AA-FINAL.docx