Securities and Exchange Commission 5,000 pesos for Minimum of five corporate sole practitioner Group A clients with total assets of at At least five years 60 units of training and seminars / 20,000 pesos least 50 million pesos each. experience in external on the following topics within the for firm audit as in-charge, last three years: 15 units on PFRS, 3,000 pesos for Minimum of three corporate manager or partner or 15 units on PSA, 18 units on sole practitioner Group B clients with total assets of at its equivalent. Audit Taxation, 8 units on Professional / 15,000 pesos least 20 million pesos each. practice should have Ethics, and 4 units on relevant laws for firm adequate policies and and recent issues affecting BOA 2,000 pesos for procedures related to business or other areas relevant to 3 years Minimum of three corporate Accreditation sole practitioner the element of a system the practice of accountancy. For Group C clients with total assets of at / 5,000 pesos for of quality control renewal, 90 units for the last three least 5 million pesos each. firm provided under PSA 220, years with the additional units on PSQC 1, and topics relevant to the companies Minimum of one corporate amendments; reflected under the category which the client with total assets of at 2,000 pesos for in Quality Assurance auditor is accredited (e.g., SRC, least 5 million pesos; or a sole practitioner Group D Manual. Financing Company Act). minimum of five clients / 5,000 pesos for regardless of the amount of firm total assets.
Securities and Exchange Commission Group A At least five years experience in external audit as in-charge, manager or partner or its equivalent. Audit practice should have adequate policies and procedures related to the element of a system of quality control provided under PSA 220, PSQC 1, and amendments; reflected in Quality Assurance Manual. 60 units of training and seminars on the following topics within the last three years: 15 units on PFRS, 15 units on PSA, 18 units on Taxation, 8 units on Professional Ethics, and 4 units on relevant laws and recent issues affecting business or other areas relevant to the practice of accountancy. For renewal, 90 units for the last three years with the additional units on topics relevant to the companies under the category which the auditor is accredited (e.g., SRC, Financing Company Act). Minimum of five corporate clients with total assets of at least 50 million pesos each. BOA Accreditation 3 years 5,000 pesos for sole practitioner / 20,000 pesos for firm Group B Minimum of three corporate clients with total assets of at least 20 million pesos each. 3,000 pesos for sole practitioner / 15,000 pesos for firm Group C Minimum of three corporate clients with total assets of at least 5 million pesos each. 2,000 pesos for sole practitioner / 5,000 pesos for firm Group D Minimum of one corporate client with total assets of at least 5 million pesos; or a minimum of five clients regardless of the amount of total assets. 2,000 pesos for sole practitioner / 5,000 pesos for firm
120118-REVISED-change-to-PUBLIC-Philippines-ROSC-AA-FINAL.docx