The BOA vice-chairman shall be a. Appointed by the PRC b. Elected by BOA members c. Appointed by the President of the Philippines d. Appointed by the PRC upon recommendation by the PICPA

The BOA vice-chairman shall be
a. Appointed by the PRC
b. Elected by BOA members
c. Appointed by the President of the
Philippines
d. Appointed by the PRC upon
recommendation by the PICPA
by

1 Answer

Answer :

Elected by BOA members
by

Related questions

The following statements relate to the Board of Accountancy. Which statement is correct? a. The Board consists of a Chairman and six members. b. The chairman and members are appointed by the President of the Philippines upon recommendation of PICPA. c. Majority of the board members shall as much as possible be in public practice. d. The Professional Regulation Commission may remove from the Board any member whose certificate to practice has been removed or suspended

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Last Answer : The Board consists of a Chairman and six members.

The Chairman and the members of the BOA shall be appointed by the: a. Commissioner of the SEC. b. President of the PICPA. c. President of the Republic of the Philippines. d. Retiring chairman of the Board of Accountancy.

Description : The Chairman and the members of the BOA shall be appointed by the: a. Commissioner of the SEC. b. President of the PICPA. c. President of the Republic of the Philippines. d. Retiring chairman of the Board of Accountancy.

Last Answer : President of the Republic of the Philippines.

A certificate under seal, bearing a registration number, issued to an individual, by the PRC, upon recommendation by the BOA, signifying that the individual has complied with all the legal and procedural requirements for such issuance: a. Certificate of accreditation b. Certificate of registration c. Certificate of quality review d. Certificate of identification

Description : A certificate under seal, bearing a registration number, issued to an individual, by the PRC, upon recommendation by the BOA, signifying that the individual has complied with all the ... accreditation b. Certificate of registration c. Certificate of quality review d. Certificate of identification

Last Answer : Certificate of registration

The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified Public Accountants (PICPA) b. Auditing and Assurance Standards Council (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Description : The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified ... (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Last Answer : Philippine Institute of Certified Public Accountants (PICPA)

Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, 2008, the next renewal must be on or before: a. September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Description : Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, ... . September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Last Answer : September 30, 2011

This body is created to assist the BOA in the attainment of the objective to continually upgrade accounting education in the Philippines, thus making Filipino CPAs globally competitive. a. PICPA CPE Council b. Education Technical Council c. Accounting Teachers' Conference d. Association of CPAs in Education

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Last Answer : Education Technical Council

The term of BOA vice-chairman is a. One year. b. Three years subject to renewal. c. At the discretion of BOA members. d. Same with the term of BOA chairman

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Last Answer : One year

The BOA shall submit to the PRC the ratings obtained by each candidate within how many calendar days after the examination? a. 5 days b. 10 days c. 15 days d. 30 days

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Last Answer : 10 days

Which statement is incorrect regarding the term of office of the chairman and the members of the Board of Accountancy (BOA)? a. The Chairman and members of the Board shall hold office for a term of three years. b. A person may serve the BOA for not more than twelve years. c. A member of the BOA may continuously serve office for more than nine years. d. No person who has served two (2) successive complete terms shall be eligible for reappointment until the lapse of one (1) year

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Last Answer : A member of the BOA may continuously serve office for more than nine years.

A member of the BOA shall, at the time of his/her appointment, possess the following qualifications, excepta. Must be a natural-born citizen andresident of the Philippines.b. Must not be a director or officer of theAPO at the time of his/her appointment.c. Must be of good moral character andmust not have been convicted of crimesinvolving moral turpitude.d. Must be a duly registered CPA withmore than ten (10) years of workexperience in any scope of practiceof accountancy.

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Last Answer : Must be a duly registered CPA with more than ten (10) years of work experience in any scope of practice of accountancy.

The primary duty to enforce the provisions of RA 9298 and its IRR rests with a. The PRC b. The BOA c. The AASC d. The PRC and BOA

Description : The primary duty to enforce the provisions of RA 9298 and its IRR rests with a. The PRC b. The BOA c. The AASC d. The PRC and BOA

Last Answer : The PRC and BOA

Which of the following does not have representations in the FRSC? a. PICPA b. BIR c. BOI d. BOA

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Last Answer : BOI

Which of the following is the authoritative body designated to promulgate auditing standards? a. BOA b. PICPA c. FRSC d. AASC

Description : Which of the following is the authoritative body designated to promulgate auditing standards? a. BOA b. PICPA c. FRSC d. AASC

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The PICPA shall renew its Certificate of Accreditation once every how many years after the date of the Resolution granting the petition for re-accreditation and the issuance of the said certificate upon submission of the requirements? a. 2 years b. 3 years c. 4 years d. 6 years

Description : The PICPA shall renew its Certificate of Accreditation once every how many years after the date of the Resolution granting the petition for re-accreditation and the issuance of the said certificate upon submission of the requirements? a. 2 years b. 3 years c. 4 years d. 6 years

Last Answer : 3 years

The following are modifications made to the IFAC Code to consider Philippine regulatory requirements and circumstances, except a. The period for rotation of the lead engagement partner was changed from five to seven years. b. Advertising and solicitation by individual professional accountants in public practice were not permitted in the Philippines. c. Additional examples relating to anniversaries and websites wherein publicity is acceptable, as provided in boa resolution 19, series of 2000, were included. d. Payment and receipt of commissions were not permitted in the Philippines

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Last Answer : The period for rotation of the lead engagement partner was changed from five to seven years.

The standard-setting body whose chairman had been or presently a senior accounting practitioner in any scope of accounting practice is a. AASC b. FRSC c. PICPA d. ACPAPP

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In the absence of both the President of India and the Vice President of India who shall act as the President of India? (1) Chief Justice of the Supreme Court (2) Speaker of the Lok Sabha (3) Vice Chairman of Rajya Sabha (4) A person elected by the Lok Sabha with two third majority

Description : In the absence of both the President of India and the Vice President of India who shall act as the President of India? (1) Chief Justice of the Supreme Court (2) Speaker of the Lok Sabha (3) Vice Chairman of Rajya Sabha (4) A person elected by the Lok Sabha with two third majority

Last Answer : (1) Chief Justice of the Supreme Court Explanation: The Chief Justice of the Supreme Court acts as the President of India in the absence of both the President of India and the Vice-President of India.

Which of the following is not a consideration in the development of audit programs? a. Internal control over the recording of plant asset additions and repairs and maintenance expenditures is found to be weak. b. The members of the board of directors are elected by the stockholders during the annual meeting. c. The client is a private university located in Southern Philippines. d. The client constructed a major addition to its central manufacturing facility during the year under audit

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Last Answer : The members of the board of directors are elected by the stockholders during the annual meeting.

This bears the registration number, date of issuance with an expiry date, due for periodic renewal, duly signed by the Chairperson of the PRC and issued by the PRC to a registered CPA upon payment of the registration fees: a. Certificate of registration b. Certificate of accreditation c. Professional identification card d. Professional tax receipt

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The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Description : The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Last Answer : 30

The chairman and the members of the AASC and FRSC shall have a term of a. 1 year. b. 3 years. c. 3 years with no renewal. d. 3 years renewable for another term

Description : The chairman and the members of the AASC and FRSC shall have a term of a. 1 year. b. 3 years. c. 3 years with no renewal. d. 3 years renewable for another term

Last Answer : 3 years renewable for another term

The Chairpersons of the FRSC and the AASC shall be appointed by: a. The Philippine Institute of Certified Public Accountantsb. The President of the Republic of thePhilippines.c. The Professional Regulatory Board ofAccountancy.d. The Professional RegulationCommission

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The chief information/Information commissioner shall be appointed by a) The president on the recommendation of the a committee b) The president of India c) The chief justice of India d) The prime minister of India

Description : The chief information/Information commissioner shall be appointed by a) The president on the recommendation of the a committee b) The president of India c) The chief justice of India d) The prime minister of India

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Every appointment of district forum shall be made by the state govt on the recommendation of a selection committee consisting of the following a) President of the state commission shall be a chairman b) Secretary, law dept of the state shall be a member c) Secretary, incharge of dept dealing with consumer affair shall be a another member. d) All the above

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Last Answer : d) All the above

Every appointment of district forum shall be made by the state govt on the recommendation of a selection committee consisting of the following a) President of the state commission shall be a chairman b) Secretary, law dept of the state shall be a member c) Secretary, incharge of dept dealing with consumer affair shall be a another member. d) All the above

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Last Answer : d) All the above

Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. To comply with the regulations of the Accounting Standards Council. b. To emphasize auditor independence from the management of the corporation. c. To encourage a policy of rotation of the independent auditors. d. To provide the corporate owners with an opportunity to voice their opinion concerning the quality of the auditing firm selected by the director

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Last Answer : To emphasize auditor independence from the management of the corporation

Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on erring CPAs in audit practice. c. To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines. d. To undertake continuing research on both auditing and financial accounting in order to make them responsive to the needs of the public

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Last Answer : To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines.

Which of the following is one of the functions of Quality Review Committee: a. To promulgate accounting and auditing standards that will be generally accepted in the Philippines. b. To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration. c. To adopt a Code of Ethics for the practice of accountancy. d. To evaluate periodically the performance of educational institutions offering accountancy education.

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Last Answer : To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration.

The following statements relate to the RA 9298. Which statement is true? a. The Professional Regulation Commission has the authority to remove any member of the Board of Accountancy for negligence, incompetence, or any other just cause. b. No person shall be appointed as a member of the Board of Accountancy unless he has been in the practice of accountancy for at least 10 years, among others. c. Insanity is not a ground for proceeding against a CPA. d. After three years, subject to certain conditions, the Board of Accountancy may order the reinstatement of a CPA whose certificate of registration has been revoked.

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Last Answer : No person shall be appointed as a member of the Board of Accountancy unless he has been in the practice of accountancy for at least 10 years, among others

The Members and Chairman of the Union Public Service Commission, are appointed by the: (1) President of India (2) Chief Justice of India (3) Parliament of India (4) Prime Minister of India

Description : The Members and Chairman of the Union Public Service Commission, are appointed by the: (1) President of India (2) Chief Justice of India (3) Parliament of India (4) Prime Minister of India

Last Answer : (1) President of India Explanation: The Members and Chairman of the Union Public Serivice Commission, are appointed by the President of India.

The 1986 Constitution provides that the Chairman and Commissioners of the Commission on Audit shall be a. All lawyers b. All Certified Public Accountants c. Two lawyers and one CPA d. One or two lawyers and one or two CPAs for a total of three

Description : The 1986 Constitution provides that the Chairman and Commissioners of the Commission on Audit shall be a. All lawyers b. All Certified Public Accountants c. Two lawyers and one CPA d. One or two lawyers and one or two CPAs for a total of three

Last Answer : One or two lawyers and one or two CPAs for a total of three

The APO shall submit its nominations with complete documentation to the Commission not later than ______ prior to the expiry of the term of an incumbent chairman or member. a. 30 days b. 60 days c. 90 days d. 120 days

Description : The APO shall submit its nominations with complete documentation to the Commission not later than ______ prior to the expiry of the term of an incumbent chairman or member. a. 30 days b. 60 days c. 90 days d. 120 days

Last Answer : 60 days

Which of the following is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Description : Which of the following is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Last Answer : Auditing and Assurance Standards Council

Auditing standards are a. Statutory in nature. b. Rules imposed by the Securities and Exchange Commission. c. General guidelines to help auditors. d. Rules imposed by the PICPA

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Last Answer : General guidelines to help auditors

In which of the following circumstances would a CPA be bound by ethics to refrain from disclosing any confidential information obtained during the course of a professional engagement? a. The CPA is issue a summons enforceable by a court order which orders the CPA to present confidential information. b. A major stockholder of a client company seeks accounting information from the CPA after management declined to disclose the requested information. c. Confidential client information is made available as part of a quality review of the CPA's practice by a peer review team authorized by the PICPA. d. An inquiry by a disciplinary body of PICPA requests confidential client information

Description : In which of the following circumstances would a CPA be bound by ethics to refrain from disclosing any confidential information obtained during the course of a professional engagement? a. The CPA is ... the PICPA. d. An inquiry by a disciplinary body of PICPA requests confidential client information

Last Answer : A major stockholder of a client company seeks accounting information from the CPA after management declined to disclose the requested information

A practicing CPA is allowed by the CPA Code of Ethics to do the following except: a. Announce the change in office location in a newspaper. b. List his firm name in the building lobby directory in good taste and modest size. c. Include his tax account number and membership in PICPA on his stationary. d. List his office telephones in the PLDT directory to box or bold type

Description : A practicing CPA is allowed by the CPA Code of Ethics to do the following except: a. Announce the change in office location in a newspaper. b. List his firm name in the building lobby directory in ... in PICPA on his stationary. d. List his office telephones in the PLDT directory to box or bold type

Last Answer : List his office telephones in the PLDT directory to box or bold type

Which of the following is the accredited national professional organization of CPAs? a. IFAC b. ASC c. AASB d. PICPA

Description : Which of the following is the accredited national professional organization of CPAs? a. IFAC b. ASC c. AASB d. PICPA

Last Answer : PICPA

Which of the following is a correct qualification of the Chairman and Two Commissioners of the Commission on Audit? a. A citizen of the Philippinesb. At least 40 years of age uponappointment.c. Must not have been candidates forany elective position precedingappointment.d. CPA’s with no less than 5 years ofauditing experience or members ofPhilippine bar who have been engaged inlaw practice for at least 5 years

Description : Which of the following is a correct qualification of the Chairman and Two Commissioners of the Commission on Audit? a. A citizen of the Philippines b. At least 40 years of age upon appointment. c ... experience or members of Philippine bar who have been engaged in law practice for at least 5 years

Last Answer : Must not have been candidates for any elective position preceding appointment.

The Professional Regulatory Board of Accountancy consists of: a. 1 Chairman and 4 members. b. 1 Chairman and 5 members. c. 1 Chairman and 6 members. d. 1 Chairman and 7 members

Description : The Professional Regulatory Board of Accountancy consists of: a. 1 Chairman and 4 members. b. 1 Chairman and 5 members. c. 1 Chairman and 6 members. d. 1 Chairman and 7 members

Last Answer : 1 Chairman and 6 members

Vice-President of India is elected by an electoral college consisting of - (1) members of both Houses of Parliament (2) members of Rajya Sabha only (3) elected members of both Houses of Parliament (4) elected members of Lok Sabha only

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Last Answer : (1) members of both Houses of Parliament Explanation: members of both houses of parliament.

The Vice President of India is elected by – (1) the members of the Parliament (2) the members of the Rajya Sabha (3) the elected members of the Parliament (4) the members of the Parliament and State Legislatures

Description : The Vice President of India is elected by – (1) the members of the Parliament (2) the members of the Rajya Sabha (3) the elected members of the Parliament (4) the members of the Parliament and State Legislatures

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What is the composition of the electoral college for the election of Vice-President of India? (1) Elected members of Lok Sabha, Rajya Sabha and State Legislative Assemblies (2) Elected members of Lok Sabha and Rajya Sabha (3) Members of both Houses of Parliament (4) Members of Rajya Sabha only

Description : What is the composition of the electoral college for the election of Vice-President of India? (1) Elected members of Lok Sabha, Rajya Sabha and State Legislative Assemblies (2) Elected members of Lok Sabha and Rajya Sabha (3) Members of both Houses of Parliament (4) Members of Rajya Sabha only

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Who votes in the election of Vice President of India? (1) All the members of Lok Sabha and Rajya Sabha (2) All the Members of Parliament and members of legislative assemblies (3) Elected MPs and MLAs (4) All of the MPs, MLAs and MLCs

Description : Who votes in the election of Vice President of India? (1) All the members of Lok Sabha and Rajya Sabha (2) All the Members of Parliament and members of legislative assemblies (3) Elected MPs and MLAs (4) All of the MPs, MLAs and MLCs

Last Answer : (4) All of the MPs, MLAs and MLCs Explanation: All the members of Lok Sabha and Rajya Sabha votes in the election of Vice— President of India.

Elected by the members of the two houses of parliament at a joint sitting by a) The President b) The Vice-President c) The Prime Minister d) Speaker

Description : Elected by the members of the two houses of parliament at a joint sitting by a) The President b) The Vice-President c) The Prime Minister d) Speaker

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The APO shall renew its Certificate of Accreditation once every how many years after the date of the Resolution granting the petition for re-accreditation and the issuance of the said certificate upon submission of the requirements? a. 2 years b. 3 years c. 4 years d. 6 years

Description : The APO shall renew its Certificate of Accreditation once every how many years after the date of the Resolution granting the petition for re-accreditation and the issuance of the said certificate upon submission of the requirements? a. 2 years b. 3 years c. 4 years d. 6 years

Last Answer : 3 years

Members of the Professional Regulatory Board of Accountancy shall serve for: a. Three years, subject to renewal. b. Seven years, not subject to renewal. c. Three years, subject to reappointmentd. Three years, not subject to reappointment.

Description : Members of the Professional Regulatory Board of Accountancy shall serve for: a. Three years, subject to renewal. b. Seven years, not subject to renewal. c. Three years, subject to reappointment. d. Three years, not subject to reappointment

Last Answer : Three years, subject to reappointment

The ETC shall be composed of a. 7 members. b. 8 members. c. 15 members d. 14 members

Description : The ETC shall be composed of a. 7 members. b. 8 members. c. 15 members d. 14 members

Last Answer : 7 members.