Manila, July 14, 2016 – Pursuant to Section 31 of Republic Act No. 9298, otherwise known as the Philippine Accountancy Act of 2004 and Annex B of Resolution No. 71, Series of 2004 or the Rules and Regulations Implementing Republic Act No, 9298, the Professional Regulation Commission (PRC) and the Professional Regulatory Board of Accountancy prescribe additional requirements for the initial application for and renewal of registration or accreditation of individual CPA, firms and partnerships of CPAs for the practice of public accountancy, to wit:
1. Conduct of visitation of the Principal office where the individual CPA, firm or partnership of CPAs is employed or practicing. For this purpose, the corresponding inspection fee shall be paid by the applicant;
2. Completion of the Quality Accreditation Checklist (Annex A);
3. Presentation of the Certificate of Membership in Good Standing (COMGS) issued by the current Accredited Integrated Professional Organization (AIPO) of accountants;
4. Presentation of the Professional Tax Receipt (PTR) of the CPAs, in lieu of the business or mayors permit that was previously required.