The Board of Accountancy, its Composition and Duties.
Section 8
SEC. 8. The Board of Accountancy, its Composition and Duties.—The Board of Accountancy shall be composed of a chairman and five members to be appointed by the President of the Philippines from a list of not less than fifteen names approved and submitted by the Board of Directors of the Philippine Institute of Certified Public Accountants, after due consultation with other accounting associations whose membership consists entirely of licensed Certified Public Accountants in the Philippines. The President of the Philippines shall fill any vacancy that may occur from the list of names submitted by the Philippine Institute of Certified Public Accountants in accordance with the provisions of this Act. The Board of Accountancy shall conduct the examination to qualify Certified Public Accountants at least once in each calendar year in the City of Manila or its suburb, Cebu City and Davao City: Provided, However, That if conditions warrants the Board of Accountancy may upon previous approval of the Commissioner of Civil Service consider conducting examinations in other places. The Board of Accountancy shall evaluate, grade, sign and submit the examination results to the Commissioner of Civil Service within one hundred eighty days from the date of the termination of the examinations. The Secretary of the Board of Accountancy shall submit to the President of the Philippines for approval the names of the successful candidates as having been duly qualified for licensure with their corresponding grades. The Commissioner of Civil Service shall furnish the Board of Accounting Education with a report on the performance of all schools represented in the examination. Subject to the approval of the President, the Board of Accountancy, after consultation with the Philippine Institute of Certified Public Accountants shall promulgate necessary rules and regulations, and set professional standards for the practice of accountancy. Such rules shall include security measures to protect the secrecy and integrity of the examinations.