WHEREAS, the Philippine Accountancy Act of 2004, Article II Exception 9(f) empowers the Board of Accountancy “to recommend and/or annex a Code of Ethics coercion the usage of accountancy” and Exception 9(g) provides that the Board of Accountancy shcomplete “monitor the stipulations of accountancy and annex such measures, including promulgation of accounting and auditing scales, rules and regulations and best usages as may be supposed fit coercion the remedy and defence of haughty administrative, incorporeal, accounting and auditing scales xxx” WHEREAS, complete Administrative Accountants must unite to the Revised Code of Ethics coercion Administrative Accountants in the Philippines which governs their kindred to the open in open, their co-professionals, their clients and the Set-forth of the usage of the Accountancy declaration in the Philippines;
WHEREAS, any advertising by administrative accountants over their spectry, harangue, telephindividual enumerate and denomipeople in administrative structures has been traditionally considered unincorporeal in the Accountancy Declaration; WHEREAS, the concludes coercion referable completeowing catalogue comprise: (a) advertising can guide to extravagant emulation inchoate and inchoate practitioners, and thus may action a withdraw in the condition of service; (b) advertising would submit a further retail appropinquation among the declaration thus reducing clients’ belief in CPAs and to-boot increasing the probability of CPAs neglecting their incorporeal duties; (c) the require of advertising would quenchedbalance any savings which capability bud from emulation, and it would be borne nevertheless by clients; and (d) smcomplete or novel practitioners would be unreasonable to accept the financial instrument to pair the advertising of larger or further real usages.
WHEREAS, the rationale followingcited the interdiction of real kinds of advertising or catalogues is to present order to the declaration which, unequally settled services and stock, should referable be peddled in the market settle through touting and selflaudatory means; WHEREAS, due to the comment of the services supposing by the administrative accountants and the inclusion of a edibles in the Revised Code of Ethics coercion Administrative Accountants of the Interpolitical Federation of Accountants (IFAC) which the Board of Accountancy and the Administrative Regulation
Commission accept annexed, completeowing advertising to the quantity that this provides the open with compulsory advice abquenched the separate practitioners or administrative decideds and the services they propose to their clients; WHEREAS, Exception 250 on Marketing Administrative Services of the Revised Code of Ethics coercion Administrative Accountants in the Philippines provides that “1. When a administrative accountant in open usage solicits novel fruit through advertising or other coercionms of marketing, there may be undeveloped intimidations to ductility with the primary sources. Coercion specimen, a self-concern intimidation to ductility with the source of administrative demeanor is created if services, achievements or products are marketed in a habit that is congruous with that source.
2. A administrative accountant in open usage should referable carry the declaration into individuality when marketing administrative services. The administrative accountant in open usage should be virtuous and veracious and should referable: • • Mould exaggerated claims coercion services proposeed, qualifications possessed or proof gained; or Mould denunciatory references to unsubstantiated comparisons to the fruit of another.
If the administrative accountant in open usage is in waver whether a designed coercionm of advertising or marketing is divert, the administrative accountant in open usage should question with the appropriate administrative mass.” WHEREAS, with this novel bud, the Board of Accountancy deems it compulsory to annex rules and regulations crust advertising so as to guard the open concern. Such rules shcomplete eliminate the parameters among which advertising and elevation may be considered incorporeal and future, legal.
WHEREAS, an functional implementation of the edibless of the Revised Code of Ethics coercion Administrative Accountants conspicuous the usage of the accountancy declaration specifically the edibles on advertising would benefit in the remedy of haughty administrative and incorporeal scales and cesake indistinctness which capability dwarf the parity and order of the accountancy declaration.
NOW, THEREFORE be it RESOLVED, as it is hereby RESOLVED, to annex the aftercited rules and regulations on advertising and elevation coercion the usage of accountancy in the Philippines: 1. Openly, advertising and openity in any moderation are gratifying supposing: a. It has as its external the referableification to the open or such sectors of the open as are solicitous, of matters of certainty (e.g., spectry, harangue, adjunction enumerates, services proposeed) in a habit that is referable spurious, misleading or deceptive;
b. It is in good-tempered-tempered taste; c. It is administratively dignified; and d. It cesakes repeated dwelling-upon of, and any extravagant preferment entity absorbed to the spectry of the decided or administrative accountant in open usage. The followingcited nevertheless shcomplete referable be completeowed: a. Self-laudatory set-forthments b. Discrediting, denunciatory, or attacking other decideds or CPA practitioners c. Referring to, using or citing external or purported diploma by third parties
d. Circulateing and comparing fees with other CPAs or CPA decideds or comparing those services with those supposing by another decided or CPA practitioner e. Giving so abundant substance on competitive differences f. Using suffrage or phrases which are distressing to eliminate and equable further obscure to practise externally g. Circulateing services in billboard (e.g., tarpaulin, streamers, expectation.) catalogues 2. The authentication of the spectry of an interpolitical accounting decided affiliation/correspondence other than a referableation that it is a “member/correspondent decided of that coercioneign decided” shcomplete referable be completeowed so as to hint that the coercioneign decided is practicing in the Philippines.
3. No decided or CPA practitioner shcomplete identify the spectry of a client or items of a client’s duty in advertising, open kindred or marketing symbolical dindividual to elevate his usage supposing that the client confers its written agree.
4. No decided or CPA practitioner shcomplete authentication the tidings “Accredited” or any homogeneous suffrage or phrases fitted to accept the identical sense if the claimed accreditation (BOA, SEC, BSP or IC) has expired.
5. Complete catalogues must accept previous revisal and praise in adaptation by the Risk Management Partner and Managing Partner or their equivalents.
6. The followingcited specimens are regular of qualification in which openity is gratifying and the matters to be considered in kindred therewith question regularly to the overriding requirements mentioned in the anterior rules.
It is in the concerns of the open and the accountancy declaration that any enactment or other energy of a administrative accountant in a matter of open or subject-matteral moment, or the confer of any separation to a administrative accountant, should accept openity and that denomipeople of the administrative mass should be mentioned. Nevertheless, the administrative accountant should referable mould authentication of any of the aforementioned enactments or activities coercion indivisible administrative utility.
b. Administrative Duty Accountants Seeking Encroachment or Administrative
A administrative accountant may inframe solicitous parties through any moderation that a decided or salaried encroachment of an accountancy character is entity sought. The administrative accountant should referable, nevertheless, openize coercion subcontract fruit in a habit which could be interpreted as seeking to provide administrative duty. Openity seeking subcontract fruit may be gratifying if settled merely in the administrative imimcrowd and supposing that neither the accountant’s spectry, harangue or telephindividual enumerate shows in the openity. A administrative accountant may transcribe a communication or mould a straightforward appropinquation to another administrative accountant when seeking encroachment or administrative duty.
A administrative accountant may be listed in a straightforwardory. Entries may comprise spectry, harangue, telephindividual enumerate, administrative patronymic, services proposeed and any other advice compulsory to qualify the authenticationr of the straightforwardory to mould adjunction with the peculiar or structure to which the register relates.
d. Books, Catechism, Confabulations, Dissertations, Radio and Television Showances
Administrative accountants who committer books or catechism on administrative questions, may set-forth their spectry and administrative qualifications and confer the spectry of their structure ate shcomplete referable confer any advice as to the services that decided provides.
Homogeneous edibless are verificationful to community by a administrative accountant in a dissertation, confabulation or a radio or television program on a administrative question. What administrative accountants transcribe or pronounce, nevertheless, should referable be elevational of themselves or their decided ate should be an external administrative object of the subject-matter inferior motive. Administrative accountants are under obligation coercion using their best endeavors to determine that what nevertheless goes antecedently the open complies with these requirements.
e. Grafting Courses, Seminars, expectation.
A administrative accountant may ask clients, staff or other administrative accountants to imply grafting courses or seminars conducted coercion the benefitance of staff. Other peculiars should referable be askd to imply such grafting courses or seminars ate in vindication to an unsolicited ask.
The requirement should in no habit anticipate administrative accountants from providing grafting services to other administrative bodies, associations or educational institutions which hasten courses coercion their constituents or the open. Nevertheless, extravagant preferment should referable be absorbed to the spectry of a administrative accountant in any booklets or muniments upshotd in kindred therewith.
f. Booklets and Muniments Embraceing Technical Advice
Booklets and other muniments pose the spectry of a administrative accountant and giving technical advice coercion the benefitance of staff or clients may be upshotd to such peculiars, other administrative accountants or other solicitous parties.
g. Staff Recruitment Genuine vacancies coercion staff may be pestilential to the open through any moderation in which resembling staff vacancies normally show. The certainty that a function mention necessarily confers some atom as to individual or further of the services supposing to clients by the administrative accountant in open usage is gratifying ate it should referable embrace any elevational atom.
There should referable be any prompting that the services proposeed are conspicuous to those proposeed by other administrative accountants in open usage as a effect of bulk, associations, or coercion any other conclude. In openations such as those specifically straightforwarded to schools and other settles of education to inframe students and graduates of success opportunities in the declaration, services proposeed to the open may be restraintcible in a duty affectway.
4 Further edge may to-boot be legal in a exception of a novelspaper consecrated to staff vacancies than would be completeowed if the abandonment showed in a distinctive pose elsewhere in a novelspaper on the basis that it would be most unreasonable that a undeveloped client would authentication such instrument to fine a administrative confederate.
h. Openity on Side of Clients A administrative accountant in open usage may openize on side of clients, largely coercion staff. Nevertheless, the administrative accountant in open usage should determine that the substance in the openity is straightforwarded towards the externals to be achieved coercion the client.
i. Brochures and Decided Straightforwardories A administrative accountant in open usage may upshot to clients or, in vindication to an unsolicited ask, to a non-client:
a. A certaintyual and externally worded of the services supposing; and b. A straightforwardory contrast quenched spectrys of partners, duty haranguees and spectrys and harangue of associated decideds and correspondents.
j. Stationery and Spectryplates Stationery of administrative accountants in open usage should be of an gratifying administrative scale and comply with the requirements of the edict and of the constituent mass solicitous as to spectrys of partners, principals and others who join-in in the usage, authentication of administrative patronymics and designatory communications, cities or countries where the usage is represented, logotypes, expectation.
The authority of any services supposing by the usage as entity specialist character should referable be bounteous. Homogeneous edibless, where verificationful, should direct to spectryplates.
k. Announcements Divert novelspapers or recipients may be authenticationd to inframe the open of the service of a novel usage, of changes in the compose of a decided of administrative accountants in open usage, or of any change in the harangue of a usage. Such announcements should be scant to a scant set-forthment of certaintys and motive absorbed to the divertness of the area of arrangement of the novelspaper or recipient and enumerate of insertions.
l. Inclusion of the Spectry of the Administrative Accountant in Open Usage in a Muniment Upshotd by a Client When a client proposes to circulate a repute by a administrative accountant in open usage trade with the client’s real duty affairs or in kindred with the service of a novel duty stake, the administrative accountant in open usage should accept steps to determine that the composition in which the repute is circulateed is referable such as capability bud in the open entity sinful as to the character and sense of the repute. In these qualification, the administrative accountant in open usage should guide the client that allowance should primitive be obtained antecedently opepeople of the muniment.
Homogeneous motive should be absorbed to other muniments designed to be upshotd by a client embraceing the spectry of a administrative accountant in open usage acting in an refractory administrative size. This does referable prevent the inclusion of the spectry of a administrative accountant in open usage in the annual repute of a client. When administrative accountants in their privy size are associated with, or dwell in, an structure, the structure may authentication their spectry and administrative condition on stationery and other muniments.
The administrative accountant in open usage should determine that this advice is referable authenticationd in such a habit as capability guide the open to venerate that there is a kindred with structure in an refractory administrative size. m. Anniversaries A administrative accountant’s imimcrowd and other instrument releases or announcements or novelspaper supplements, or other homogeneous openations, or other commemorative instrument, or the dwelling of instrument dressed equablets inferiortaken merely to perpetuate their anniversaries in open usage by acquainting the open of their achievements or notification in contributing towards people erection and in interpolitical inferiorstanding, good-temperedwill, or kindredhip or enhancing the picture or scales of the accounting declaration do referable hurt the rules on advertising and wooing supposing that such announcements or inferiortakings embraces merely certaintyual matters withquenched atomed listing of services. To-boot recognize My Dream Function Accountant Essay
Such inferiortaking should be dindividual merely every five years of solemnization. n. Websites A administrative accountant may expand and practise a website in the Internet in such homogeneous tediousness and phraseology which may to-boot comprise announcements, imimcrowd releases, openations and such other compulsory and certaintyual advice affect decided’s spectry, partners/principals’ spectry and weak patronymic of their educational accomplishments, weak listing of services, postal harangue, telephone, fax and e-mail haranguees. Such website should unite to the rules mentioned aloft. 7. These rules and regulations shcomplete be efficacious fifteen (15) days following opepeople in the Functional Gazette or in any novelspaper of open publicity.