Chapter 1:

The Accountancy profession and Its Development

What is accountant?

 Four Specialized accounting programs

• BS Accountancy
• BS Management Accounting
• BS Auditing with focus on Internal and Forensic Auditing
• BS Accounting Systems and Information Technology

Career Opportunities of an Accountant

Sector Association Employed in Work

Public Practice Association of CPAs Auditing Firm and Auditing, examination
in Public Practice Accounting Firm of FS and report our
(ACPAPP) finding to the
management,
taxation, the
preparation of income
tax returns and
management services,
the design and
installation of
accounting system
Government Government National Government Accountants
Association of CPAs Agencies ,
(GACPA) Government-Owned
Controlled
Corporation, Local
government Units
Commerce and Association of CPAs Private Firms Chief Accountant,
Industry in Commerce and Accounting Manager,
Industry (ACPACI) Internal Auditor,
Finance Manager,
Comptroller
Academe Association of CPAs Schools Professors,
in Education (ACPAE) researchers, CPA
reviewers

CODE OF ETHICS for CPAs in the Philippines

Professional Competence and Due Care Has continuing duty to maintain professional
knowledge and skill at the level required
Integrity Straightforward and honest
Confidentiality Retain from disclosing information of the
client to others
Objectivity Not allow bias
Professional behaviour Comply with relevant laws and regulations and
should avoid any action that discredits the
profession

Accountancy law of the Philippines

- signed into law on May 13, 2004 by President Gloria Macapagal known as Philippine
Accountancy Act of 2004
- revivals of CPDs
- Sec 5( the BOA and its composition)
o Composed of a chairman and 6 members appointed by the president of the
Philippines from the list of the PRC (3) and the PICPA(5)
o Elect a vice-chairman from among the members for the term of one year

JOEL L. ATTY.
TAN- GLORIA J. SAMUEL Arlyn
GERVACIO THELMA S.
TORRES TOLENTINO- Sicangco-
BAYSA B. Villanueva
I. PIATOR CIUDADANO
Chairman PADILLA

The Board Of Accountancy