The Future is now Developments fast evolving in the global accounting arena Accountancy in place in the Philippines since 1923 Sluggish development for decades Expanding Horizons starting 2014 Six point EH strategic plan---roadmap to exceed global standards in the Philippines and to meet the needs of the times

Six Point EH Strategic Plan Our game plan to exceed global standards More than 100 projects ongoing Road map to meet the needs of the times

Are we ready for this? Revised Accountancy Law

Are we ready for this? Robotics for basic accounting and book keeping functions

Are we ready for this? Artificial Intelligence used for correcting essay and problem solving questions in an Outcome based CPA board examination

Are we ready for this? Four Specialized accounting programs BS Accountancy BS Management Accounting BS Auditing with focus on Internal and Forensic Auditing BS Accounting Systems and Information Technology

Are we ready for this? Reformatting the Licensure Examination 1.Outcome based focus 2.Transition until May 2017 examination 3.For October 2017, new topics in Taxation and RFBT will be included in the examination 4.Expanded coverage and scope of test questions—situational problems, effective business communication

Are we ready for this? Reformatting the Licensure Examination 1.Specialization to coincide with accounting education thrusts 2.Two Level Licensure Examination 3.Expanded coverage and scope of test questions—integrated, practical, essay, problem solving 4.Outsourcing of exam question preparation 5.Allowing foreigners to take examination

Are we ready for this? Are we ready for this? Two Level Licensure Examination 1. Core Licensure Examination for Certified Accountants

Are we ready for this? Are we ready for this? Two Level Licensure Examination 2. Advanced Licensure Examination for Certified Public Accountant and Certified Professional Accountants

Are we ready for this? Evolving International standards on Audit quality Expanded Auditor’s Report Public Finance Management Integrated Reporting

Are we ready for this? ISO certified accounting and auditing practice

Are we ready for this? Value added services on forensic audit, analytics, integrated and XBRL reporting, and cyber security of accounting systems

Are we ready for this? Participative role of accountants in traditional government functions of CoA and BIR audit

Are we ready for this? Revision of audit threshold

Are we ready for this? The Audit Regulatory Office and Board of Accountancy

Are we ready for this? E-BoA and e-ARO

Are we ready for this? Streamlined regulatory processes and requirements

Are we ready for this? Effective regulation involving Quality Assurance Review Run after Erring CPAs Whistleblower Program Coordination with other Regulators Fair competition environment for professional accountants

Are we ready for this? Customized accounting standards and systems for SMEs and cooperatives

Are we ready for this? Use of technology tools including cloud based systems, e-working papers for audit, virtual accounting offices.

Are we ready for this? I AM ACCT. You tube: )

Are we ready for this? Global Filipino accountants

Are we ready for this? Re-structuring & strengthening the SMPs

Are we ready for this? Sustainability and environmental green accounting

Are we ready for this? Center of accounting research and education with Doctoral Program on Accountancy, vibrant Masters Program in Accountancy, focus on research and writing, and accounting e-library network

Are we ready for this? Accounting case methods in all accounting, auditing and technical subjects in the accountancy programs

Are we ready for this? On line Continuing Professional Development programs based on competencies and experience levels

Are we ready for this? “Bagong” Mindset on education and career options and directions, shift to “grass roots” and regions away from Imperial Manila

Are we ready for this? Vibrant accountancy profession in the Philippines: * Recognition by stakeholders of importance and value of accountants * Outputs of accountants relied upon by stakeholders and government * Higher pay and fees for the professional accountant

For more information: regulatory board of accountancy