BOA Resolution No. 3 requiring an accredited CPA to certify the preparation of FS
(Revenue Memorandum Circular No. 21- 2016)
The BIR circularized Board of Accountancy (BOA) Resolution No. 3, s of 2016 entitled “Requiring…..”.
Among others, the Resolution requires that annual FS of companies who have gross sales exceeding P10 million should be accompanied by a “Certificate on the Preparation of Financial Statement and Notes to the Financial Statements”.
The requirement shall be mandatory for reporting period ending June 30, 2016 and subsequent periods.
The Certificate can be issued by only a BOA-accredited CPA who can either be an employee of the company or a CPA in public practice contracted by the company.
The BOA has set an April 30, 2016 deadline for filing of accreditation application for CPAs. Completion of the Continuing Professional Development (CPD) requirements can be done until June 30, 2016 after signing an affidavit of undertaking to that effect.
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