o A holder of the COR shall
be issued a PIC subject to
renewal every 3 years. It
should
bear
a
registration
number,
date of issuance, expiry
date and signature of the
PRC chairman.
Article IV: Practice of
Accountancy
• Single practitioners and
partnerships for the
practice
of
public
accountancy must be
CPAs and will be issued a
certificate
of
accreditation after such
registrant has acquired a
minimum of 3 years
meaningful experience.
The accreditation is
renewable every 3 years.
• Workings papers shall be
treated confidential and
privileged and remain
the property of the CPA.
• Continuing Professional
Education
(CPE)
program
o Renewal of certificate of
accreditation – 120 units
within the last 3 years
prior to renewal.
Article V: Penal and Final
Provisions
• Violation
of
any
provisions of the Act
shall be punishable with
a fine of no less than P
50,000
or
by
imprisonment for a