In the current months, such huge numbers of radical yet vital activities have emerged in the way the future accountants of the land will be produced. These include real changes in the accounting training and learning system and the capability or licensure of the CPA (Certified Public Accounts).
At this point, the 500+ accounting schools in the Philippines are assessing how to advance with the declaration of CHED (Commission on Higher Education), CMO (Commission on Memorandum Orders) 27 to 30, Series of 2017, by the CHED in a joint effort with the Board of Accountancy (BOA). These Commission on Memorandum Orders endorsed the Philippine accounting education system and degree guidelines for four accounting programs, in particular:
- BS in Accountancy (updated)
- BS in Accounting Information System
- BS in Internal Audit
- BS in Management Accounting
The fundamental issues being thought by the accountancy schools are: Which among (if not all) the accounting programs will they offer to start the school year 2018-2019 and past; how might they build up the different requirements for the new programs; will there be adequate enthusiasm for the programs from enrolls and the business; what will be the qualification procedure for the new programs; and numerous others. The BOA and the National Association of CPAs in Education have been on the bleeding edge of reacting to the discussion and requirements of the schools.
In the same time, the Board of Accountancy is currently refining the CPA Licensure Examination system. The BOA has begun to review the syllabus and Table of Specifications for the six subjects covered in the authority examination. The bearing of the survey is to:
- Concentrate more on the result learning introduction or approach.
- Refine yet not to redesign.
- Give better management of arrangement and choice of inquiries.
- Recommend importance on specific points that are regular to all the six examination subjects, including current reports on globalization, computerized and IT; governance and morals; regulatory requirements and examination; successful business communication; and, practical business application.
- Contribution to an integration of learning overall examination subjects.
These considerations happened as an answer to the requirements of the biological community where the CPAs interface and the desires and requests of an industry.
This audit is relied upon to be finished in the following few months and powerful in time for the CPA examinations planned for October 2018.
It is to be noticed that there are activities occurring in different parts of the world like the direction of BOA. The efficient accounting experts in the Singapore, United States, United Kingdom, Australia, Canada, and different countries are focused on building up the future of accountants.