Posted by geemiz | Posted in Accounting News | Posted on 18-01-2011
Tags: Accounting Guidelines, Accounting Resolutions
Sen. Manny Villar who is also an accountant has filed a resolution addressing a shortage of accountants in the Philippines. According to Resolution 224 the shortage of accountants in the Philippines is due to citing reports that Philippine CPAs are leaving the country in droves to work abroad.
Below is a copy of Resolution 224
- FIFTEENTH CONGRESS OF THE
REPUBLIC OF THE PHILIPPINES
First Regular Session
SENATE
p, ~, Res, No, ~24
INTRODUCED BY SENATOR VILLAR
RESOLUTION
URGING THE SENATE COMMITTEES ON EDUCATION, ARTS AND
CUL TlJRE AND CIVIL SERVICE AND GOVERNMENT REORGANIZATION,
TO REVISIT REPUBLIC ACT 9298 OR THE PHILIPPINE ACCOUNTANCY
ACT OF 2004, WITH THE ENO IN VIEW OF ADDRESSING THE SHORTAGE
OF ACCOUNTANTS IN THE COUNTRY CITING RECENT REPORTS THAT
THEY HAVE BEEN LEAVING THE COUNTRY IN DROVES TO WORK
ABROAD
Whereas, Section 2 of Republic Act 9298 or the Philippine Accountancy Act of 2004 states, “The State recognizes’the importance of accountants in nation building and development, Hence, it shall develop and nurture competent, virtuous, productive and well rounded professional accountants whose standard of practice and service shall be excellent. qualitative, world class and globally competitive though inviolable, honest, effective, and credible licensure examinations and though regulatory measures, programs and activities that foster their professional growth and development,”;
Whereas, in the first quarter of 2005, there were about I 13,300 licensed
accountants in the Philippines; 1
Whereas, in the first quarter of 2005, there were about I 13,300 licensed accountants in the Philippines; 1
Whereas, there are about 70,000 accountants in the country at present;2
Whereas, the US’ Generally Accepted Accounting Principles (GAAP) rank
Filipino accountants as “among the best in the world,,;3
Whereas, the favorite destinations of Filipino accountants are Australia, the United States and some European countries which ofter better and higher salaries ‘4 compared to what they receive here;
Whereas, accounting is not a popular choice among students to take up in college so the number of certified accountants in the country has been dwindling:5 Now therefore be it
RESOLVED, as it is hereby resolved, to urge the Senate Committee on Education,
Arts and Culture and other appropriate committees, to revisit Republic Act 9298 or the Philippine Accountancy Act of 2004, with the end in view of addressing the shortage of accountants in the country citing re~ent reports that they have been leaving the country in droves to work abroad.
A discussion of the topic can be viewed at http:http://www.pinoycpa.com/general-discussions/shortage-of-accountant-in-the-philippines!/ and a copy of the resolution can be seen at http://www.senate.gov.ph/lis/bill_res.aspx?congress=15&q=SRN-224.
Is this a good sign to all accounting students and all soon to be CPA wherein for sure accounting board passers will increase or is this a threat that the accounting profession will soon be like the nursing profession as quoted from a friend jam007 of Pinoycpa.com “instead of shortage they are now EXCESS and are being abused on large scale!”
sad… but this is true..
We dont need large passing rates.. we need better job offers.. please do not compare us with nursing grads.. it cheapens us…
So flattering that Filipino Accountants are the best of the World but so disappointing that CPA is also the root of poverty in the Philippines especially those government auditors and in public practice. If all CPA will stand on the standards set and fight for it, then corruption will be minimized if not eliminated. Sad to say that CPA( auditors) supposed to be the barriers of corruption, it is the key for corruption in the philippines.
isa pa, palagi nalang pinapahirapan ng BIR at SEC ang buhay ng accountants dito sa taon-taong pagdadagdag nila ng mga requirements sa FS, bagong RR, RMO, RMC.
Tapos masyado nilang hinihigpitan yung requirements para maging BIR at SEC Accredited. Sana naman bawasan nila yung requirements, masyado nang mabigat sa amin.
Hay.. naku!! Mga anu talga..
Going back to the point of this post,
I agree with Abie. With all due respect to our nurses, I sorely hope this doesn’t cheapen us. And by better job offers, I’d like to emphasize a higher salary too.
I agree to Abie, Accounting is far harder than Nursing, do not liken us with RN’s this gives us an “ordinary” description. CPA board is the top 1 hardest exam for fresh graduates compared to exams of other courses. Passing the Board gives us sense of pride. But sadly, when we start to apply for a job, “binabarat” kahit CPA na. It’s like all dreams fade when in the real world even if you are an Accountant. As for me, I still don’t think twice about my decision. I will also go to abroad. Better to serve foreign countries offering much better pay for your real worth, than staying in a country that does not recognize your value and still make you work lika a dog.
Hi,
I am in Southern Africa, how can I get an Accounting job in Philippines?
Hi Sebastian,
Do you have a Philippine CPA license? If ever you have then you can apply in any company to work an as accountant but if you do not have a license you can enroll for a BSA course or if you are a graduate of any accounting related course then you can apply as an accounting staff or book keeper.
I think we should ask Sebastian if he is a Filipino, because only Filipino citizens can take the Philippine CPA board exam. As to the question whether he can get a job here in the Philippines, there is this specific guideline enumerated in the accountancy act of 2004 limiting foreign individuals who can practice the accounting profession in the four areas.
Hi. I am an accounting student in a U.S. university. After graduating I hope to come back to the Philippines and maybe get a CPA license there as well. I am wondering, do I only have to take courses/classes somewhat related to Philippine laws and regulations? I am a Filipino so there is no problem with that requirement. Thanks and am looking forward to a response even though this post is quite dated.
Ang hirap kasi ng course then pag-graduate mo, the CPA board exam is the toughest board exam. Then if you luckily pass, hirap parin makakuha ng magandang opportunity dito sa pinas! kaya, what’s ur choice? di naman pweding babaratin nalang yung napakahirap mung pinagdaanan in the process!
-I think eto yung dapat nilang tutukan-
let us do the job of certifying public documents for even small and medium enterprises and minimize the requirements for accreditation, the money goes only to the big auditing companies and we’d rather go abroad than to wait for a lot of working experiences before we can do a business or parttime for certifying docs. we are already embracing the high salaries abroad why go back…