THE ISSUE: REVISION OF ACCOUNTANCY LAW

The education you'll need in order to become an accountant will

depend on your specific career goals. The Board of Accountancy chairman,
Mr. Joel Tan-Torres stated that there is an upcoming change in BS
Accountancy program and CPA licensure examination process that the Board
of accountancy will be submitting to congress for its legislation and is
expected to start by year 2023.
CPA licensure examination includes two levels of tests. First, to those
who are graduates of any in the four accounting programs (BS Accountancy,
BS Management Accounting, BS Internal Auditing and BS Accounting
Information System) will have to take the Certified Accountant (CA)
Examination. The passers of the CA examination will be authorized to work
as accountants in the government, public practice and private sector, except
to sign auditors certifications and to teach as accounting educators. Second,
the

accounting

students

may also

choose

to

pursue

an

education

aforementioned exempted accountancy work will have to pass the second

level of test which is the Certified Public Accountant (CPA) Examination.
These changes will provide different options for accounting students to
pursue depending on his or her specialty field.

THE ALTERNATIVE POSITION - TO OPPPOSE THE REVISION:

Over the years, accounting has been viewed as highly prestige yet
very critical profession. In the Philippines, an aspirant should finish his 5-year
degree course including integration subjects which serve as comprehensive
review and preparation before taking the licensure examination. Subsequent
to commencement, the aspirant is hugely encouraged and compelled to
enroll in a review school. Being a Certified Public Accountant is the blackbelt for public accounting, and in essence, for the accounting profession in
general. It is extraordinarily prepared by many. The Certified Public
Accountants (CPA) licensure examination has always been constantly
observed as the ultimate test of competency and the mark of quality for all
aspiring accountants. It has been bannered by accounting schools and
reviewer institutions as a gauge of their educational standards, taking pride
in their passing percentages and the number of topnotch students that
graduate from their hallowed halls.
Today,

there is

forthcoming diversion of the CPA

licensure

examination that the Board of Accountancy will be submitting soon to

Congress for its legislation. There will be a reformatting of the licensure
examination process. In the nearest future, the licensure examination will
include two levels of tests. The graduates should take the first-level Certified
Accountant (CA) examination which exempts the passer to sign auditors
3

certifications and to teach as accounting educators. Those who want to

pursue the aforementioned exempted accountancy work will have to pass
the second-level Certified Public Accountant (CPA) or Certified Professional
Accountant (CPA) examination, depending on their educational specialization
or attainment.
It has been a game breaking change considering that the former
regulation mentioned in Republic Act No. 9298 Accountancy Law was
perceived to be tough one should take in. According to many articles, one of
the top threats or downside of this and of taking accounting courses as a
whole is getting certified. What more is to get certified for two times? One
thing to consider is time investment. While becoming an elite CPA, doors will
for more career opportunities the exam is toughthe passing rate is around
50 percent, according to the American Institute of CPAs, though the respect,
security and 10 percent pay increase are all the more incentive to achieving
this career milestone.

THE GROUPS CHOSEN POSITION - TO SUPPORT THE REVISION:

The Accountancy profession is a very dynamic profession. Hence, the

need of professionalism and globalization makes the program more
challenging. So we need to enhance the competence of CPAs in order to be
able to compete globally or to be equipped with the required knowledge that
can render a world-class service. In order for us to obtain that, is through this
forthcoming diversion of the CPA licensure examination that the Board of
Accountancy will be submitting soon to Congress for its legislation.
This diversion of CPA licensure examination will give more options for
the students to choose what course to take that fit their skills and interests.
They must be a graduate from one these four programs (BS Accountancy, BS
Management Accounting, BS Internal Auditing and BS Accounting Information
System) for them to take the Certified Accountant (CA) exam. After that, they
need to have years of meaningful experience for them to take the Certified
Public Accountant (CPA) exam. That meaningful experience would help
them be a competent accountant so that if they pass the second level of
exam, they would be equipped with firsthand knowledge of their profession.

ALL ABOUT THE REVISION OF REPUBLIC ACT 9298:

Game-breaking changes are forthcoming in the area of accountancy

education and the licensure examination process. These new accountancy
tracks for the accountancy profession are among the revisions of the
accountancy law that the Board of Accountancy (BOA) will be submitting
soon to Congress for its legislation.
The new tracks start with the taking of any of the four accounting
programs in college. The accounting courses that will be available by school
year 2018-2019 include BS Accountancy, BS Management Accounting, BS
Internal Auditing and BS Accounting Information System. The Commission of
Higher Education (Ched), in coordination with the BOA, will be issuing before
year-end the necessary Ched memorandum order to provide the details of
these accountancy programs. These programs will provide different options
for the accounting student to pursue depending on his or her interest.

In
addition
to these forthcoming changes in the accountancy education, there will also
be a reformatting of the professional licensure examination process. The
licensure examination of the future will include two levels of tests. The
graduates of the four accounting programs will have to take the first-level
Certified Accountant (CA) examination. This examination consists of five core
accounting subjects, to include financial accounting reporting, advanced
financial accounting reporting, management advisory services, taxation and
regulatory framework for business transactions. The examinees will have to
pass this CA examination to work or practice accountancy. The passers of the
CA examination will be authorized to work as accountants in the
government, public practice and private sector, except to sign auditors
certifications and to teach as accounting educators.
Those who want to pursue the aforementioned exempted accountancy
work will have to pass the second-level Certified Public Accountant (CPA) or
7

Certified Professional Accountant (CPA) examination, depending on their

educational specialization or attainment. There will be a CPA examination for
each of the four accountancy courses or specialization. There will be a CPA
examination dwelling for each of the accountancy specialization of auditing,
management accounting and accountancy information system. The CPA
examination can be taken optionally after three years of meaningful work
experience. Once the examinees have passed the CPA exam, they can now
be signatories of the external audit certification, while passers of the
Certified Professional or Public Accountant exams can qualify as accounting
teachers. The new licensure examination consisting of both the CA and CPA
examinations are expected to start by year 2023.

These changes are in line with the objective of the Six-Point Expanding
Horizons Strategic Plan (EH Strategic Plan) of elevating the Filipino
accountant and the accountancy profession to a level that exceeds global
standards.
The measures under the EH Strategic Plan are:

Institute quality and governance measures.

Effectively regulate the profession.

Enhance image and reputation of the accounting professional.

Enhance stakeholders involvement and cooperation.

8

Institute structural changes.

Provide communication and assistance mechanisms.

THE PREMISE FOR ALTERNATIVELY OPPOSING THE REVISION:

In recent years, we have become witnesses in the significant emerging

issues which bear impact to the accounting profession. Globalization is one
of the challenges currently faced by a Certified Public Accountant (CPA). To
be able to compete globally, a CPA must be able to find ways and means to
practice his profession on a globalized basis. As we all know, the number of
accounting graduates and professionals are increasing to the point that some
of them are not being employed. In the current revision of the Accountancy
Law, it gives a greater competition for the employment of future accounting
graduates and professionals. In past years, record shows that there is a
decrease demand for the fresh accounting graduates but there is an increase
in amount of graduates. This revision in the program may cause some of the
professionals to work abroad due to high degree of competition that it may
cause to the profession.
Other issue we found about the revision in the Accountancy Law is the
3 year experience requirement. Some of them think that this is too long for
them because in some countries they only require 2 years of experience for
you to become or to take the CPA licensure exam. In this prolonged period
some think that they may forget or lost their interest in taking the exam.
They cannot do their work and review at the same time. Also, if their salary is

10

sufficient enough for themselves they will not take the examination anymore
and it may results to low number of CPAs in the future.
Accounting graduates will enter a business environment characterized
by globalization, international transactions and standards, technological
development and changing social values. They must be equipped to respond
to these new demands. The Board of Accountancy must produce professional
and global accountants who are creative, innovative and capable of
rendering world-class quality service. They can only achieve this by excellent
academic and hands-on training or practicum not by prolonging the agony of
waiting and increasing the possible competitors with achieving same results.
Quality accounting education is the passport of the future graduates to the
business world.

11

THE GROUPS POSITION: TO SUPPORT THE REVISION AND ITS

REASONS:

In line with this drastic change of curriculum, the students will now be
more prepared to face the new challenges of the corporate world.

These

changes will provide more focused options for those desiring to pursue
accountancy education and careers. Unlike the present situation where there
is only one option of taking the BS Accountancy course as the first step in
being an accountant, the academic and licensure track of the future will
present more options to cater to the interest and competence of the future
accountant. By having four programs instead of one, they can choose what
really fits their skills and interest. Although all are related to accounting, they
can specialize in a field in which they excel. For example, a student has skills
in computer systems. It is favorable for him to take the accounting
information systems program, for todays business depends a lot on
technology and databases.
According to Adam Smith in his book The Wealth of Nations, each
worker becomes an expert in one isolated area of production, thus increasing
his efficiency. Following this theory, accountants will be more efficient in their
field of expertise after applying the changes stated. In the increase on the
demand of accountants, this specialization strategy set by the Board of
Accountancy will lift the professions integrity and standard. Furthermore,
12

these changes in place will help our future accounting professionals to be

more qualified and prepared to meet or even exceed the growing demands
of the local and global community.
Five years of study and three additional years of meaningful work
experience will surely hone the future accountants in the country. Not all the
knowledge an accountant needs is provided inside the classroom. We all
know that theories are far from what is being practiced in the actual field.
Being exposed to both study and work will enhance their understanding. The
accountants will have specialized skills and a more practical experience and
mind-set. More years of preparation means more years of improvement for
our future accountants. When the time comes, they will become more than
ready to be the linguist of the business world, handling leading companies
and serving the publics interest.
Changes are difficult; there are lots of uncertain things that could
happen. But what wonderful thing didnt start out scary? The changes
implemented by the regulatory Board will help our future accountants face
the increasing demand of the corporate world. Professional accountants are
expected to uphold values of integrity, objectivity, professional competence
and due care, confidentiality and professional behavior. Even the top level
management seeks them for help and advice. They are the ones to provide
information that will be crucial to decision making. As a profession that has
been bestowed a privileged position in society, the accountancy profession

13

deals with a wide range of issues that has a public interest angle. In the case
of professional accountants in business, not only must they maintain high
standards but they also have a key role to play in helping organizations to
act ethically. As protector of public interest, accountants need to be trusted
to provide public value. Thus, proper training and preparation needs to be
promoted to a greater degree. Changes need to be welcomed for us to
improve and be better pillars of the society.

14

IMPORTANCE OF THE ISSUE:

Practice of accountancy shall constitute in a person, be it in his

individual capacity, or as a partner or staff member in an accounting or
auditing firm, holding out himself as one skilled in the knowledge, science,
and practice of accounting, and as qualified to render professional services
as a certified public accountant; or offering or rendering, or both, to more
than one client on a fee basis or otherwise, services such as the audit or
verification of financial transactions and accounting records; the preparation,
signing, or certification for clients of reports of audit, balance sheets, and
other financial accounting and related schedules, exhibits, statements, or
reports which are to be used for publication or for credit purposes, or to be
filed with a court or government agency, or to be used for any other purpose;
the installation and revision of accounting system, the preparation of income
tax returns when related to accounting procedures; or when he represents
clients before government agencies on tax matters related to accounting or
renders professional assistance in matters relating to accounting procedures
and the recording and presentation of financial facts or data.
A Certified Public Accountant shall be considered in the practice of his
profession, if the nature and character of his employment whether as an
officer or employee in a private enterprise or educational institution involves
decision-making

requiring

professional
15

knowledge

in

the

science

of

accounting or when he represents his private employer before any

government agency on tax matters related to accounting, and such
employment or position requires that the holder thereof must be a Certified
Public Accountant; or if he holds or is appointed to a position in the
accounting occupational group in the government or in government-owned
or controlled corporations, including those performing proprietary functions,
where a civil service eligibility as a Certified Public Accountant is a
prerequisite.

16

THE GROUPS POINT OF VIEW:

There are a lot of changes in accounting profession but those changes

will become more beneficial to our future accountant. Implementing the four
specialized accounting program which is BS Accountancy, BS Auditing
internal Auditing, BS Management Accounting and BS Accounting System
and Information Technology would help them, they can choose what really
appropriate in their skills. If creating things from file of raw numerical data
sounds like a fun way to spend a day, lean toward Accounting (BS
Accountancy), if on the other hand taking someone elses creation and
picking it a part looking for errors and inconsistencies sounds like more
interesting and exciting, a career in auditing (BS Auditing Internal Auditing)
can give what you desire. The changes that being implemented was very
useful because it gives an opportunities to enhance their expertise in the
field that they have been chose and It turns into our future accountant most
probably become more effective and efficient to meet the standards knowing
that the corporate world was looking for an accountant who has the
capability to compete and having satisfactory degree of intelligence.
Moreover, it would offers strong income potential and above average job
security. As for which it can lead to a more successful and satisfying career.

17

18

ADDITIONAL KNOWLEDGE ABOUT THE ISSUE:

The prospective changes in Accountancy Program here in the

Philippines amended by Board of Accountancy are beneficial to us especially
to the subsequent Future CPAs who want to practice accountancy. Just to
give a heads up to those who still don't know, first world-countries like USA,
Australia, European countries, Middle East, etc. don't give recognition to
Filipino CPAs as counterparts of their respective CPA programs.
Some Filipino CPAs in the other country, need to undergo a bridging
course and complete the CPA program to become a CPA in the country they
have been employed. CPAs from other countries even third world countries
such as Malaysia, Sri Lanka etc. can be recognized as CPAs here without
undergoing the bridging course and CPA program. These countries have a
mutual recognition program with Australia, something the Philippines lack.
We should be familiar to the other countries academic and CPA
requirements, Accountancy Course Program, Training and Work experience,
etc. in order for us to realize that these new implementations of BOA is really
helpful and useful to us. So that, Filipino CPAs is now ready to work abroad
with the same standard of education and skills without any discrepancy to
the other country.

Here are the list of selective top countries with their

respective CPA requirements:

19

20

CPA Requirements in USA:

To become a CPA in the US, a student must pass the exam and meet
other state requirements such as gaining a certain amount of work
experience or furthered education. The CPA licenses accountants to provide
their services to the general public. The CPA designation is taken very
seriously, as its requirements maintain that only the most knowledgeable
accounts can qualify. The designation is usually used behind a persons name
to signify the level of experience, and is often a punishable offense if it is
used without actually passing the exam and requirements.
Students who want to become an expert in accounting and achieve the
CPA designation will first need to pass the CPA exam. The exam is certainly
21

not easy and tests many of the most important accounting principles. The
exam is called the Uniform CPA exam, and the eligibility to actually take the
exam depends on the exact state the student plans to test in. There are
three main requirements for taking the CPA Exam. They are categorized as
the 3 Es: Exam, Education, and experience. One of the main qualifications to
sit for the exam is advanced education. Undergraduate degrees carry 120
credit hours. The CPA exam usually requires 150 credit hours. This means
students will have to achieve 30 hours of graduate level coursework. It most
cases, an international student will take the 30 extra hours and then
complete a few extra classes to earn a masters degree in accounting. The
exam also tests some of the laws of the state including contract and state
laws and often tests the knowledge of federal laws as well. The third
requirement to sit for the exam is usually some type of experience in the
field of accounting. While not mandatory in all states, some states require
that a CPA candidate have 2 years of work experience in accounting or tax
preparation. Some states only require general experience in accounting.
There

are

many

different

types

of

accounting

degrees,

with

undergraduate-level titles such as Bachelor of Accountancy or Bachelors

in

Accounting.

The

specialized Bachelor

Accountancy (BAcy, BAcc or BAccty)

in

the

US

is

often

of
the

only

undergraduate degree recognized in the country for subsequent practice as

a professional accountant in that respect, it works as a first professional
degree.
22

Elsewhere, accounting degrees may be offered as a Bachelor of Arts

(BA) in

Accounting,

or

as

a Bachelor

of

Science

(BSc)

in

accounting (also abbreviated as BS/ACC). Meanwhile, South Africa offers

undergraduate accounting degrees titled Bachelor of Accounting Science
(BAccSci) and Baccalaureus Computations (BCompt).
While many universities offer undergraduate degrees with a sole focus
on accounting, its also common to find accounting offered alongside other
subjects (most commonly finance, economics or business management) in a
joint-degree format. There are also general business degrees with a focus on
accounting such as the Bachelor of Business Administration (BBA) in
Accounting and the Bachelor of Commerce (BCom) in Accounting.
Most accounting degrees are accredited by a relevant professional
body for accountants at the national level. Examples include the UK-based
Association of Chartered and Certified Accountants, Institute of Financial
Accountants and Chartered Institute of Management Accountants, and the
American Institute of Certified Public Accountants based in the US. Studying
an accredited degree allows graduates to apply to the relevant body for
exemptions from certain exams once they start working towards chartered
accountant status.

CPA Requirements in Middle East:

23

CPA is one of the leading financial accounting qualifications in the

Middle East. CPAs are trusted financial advisors who can help businesses and
other organizations plan and reach their financial goals.

Here are the Courses in the Middle East:

24

Exams
Financial Accounting and Reporting (FAR)
Auditing and Attestation (AUD)
Regulation (REG)
Business Environment and Concepts (BEC

The CPA exams are made up of a mixture of MCQs, task based

simulations and written questions

The pass mark for the CPA exams is 75%
Exams can be taken during the following four testing windows:

January/February; April/May; July/August; October/November

The exams can be taken at authorized test centers in Bahrain, Kuwait,

Lebanon and the UAE

The CPA exams are very flexible and can be taken in any order
From the date of passing your first exam you must take and pass all four

exams within 18 months

Candidates usually gain their CPA qualification within 12-24 months

Minimum entry requirements:

Each

applicants

of

Board

of

Accountancy

have

different

eligibility

requirements for the CPA qualification. However these generally include:

1. A 4 years bachelors degree in accounting, finance or business. Some
States accept 3 years BCom + Masters or MBA or other professional
qualification (e.g. ACCA, Indian CA, etc)
2. A minimum of 120 credit hours to be eligible to take the CPA exams
3. A minimum of 150 credit hours and 1-2 years work experience to apply
for a CPA license

25

4. A minimum of 24 semester hours in business and minimum of 15

semesters hours in accounting
CPA Requirements in Singapore:
1. Academic Requirements
All applicants must satisfy the requirements of the Academic Base of the
Singapore QP before they can embark on the Professional Programme. To
satisfy the requirements of the Academic Base, applicants must either:
A) Hold an accredited accountancy degree with a five-year validity period
commencing from the date of conferment^; or
To enroll directly into the Professional Programme, applicants must possess
one of the following accredited accountancy degrees:

Bachelor of Accountancy from the Nanyang Technological University;

Bachelor of Business Administration (Accountancy) from the National

University of Singapore;
Bachelor of Accountancy from the Singapore Management University;
Bachelor of Accountancy from the UniSIM University;
Bachelor of Accountancy from the UniSIM University (part-time);
Master of Professional Accounting from the Singapore Management

University;
Master of Science in Accountancy from the Nanyang Technological
University (previously known as Master of Business Administration
(Accountancy))* or

26

Bachelor of Accountancy (Corporate Accounting Focus)# from the

Singapore Institute of Technology (SIT)

^ Applicants with an accredited degree that exceeds the five-year validity

period may have their working experience considered for direction admission
into the Professional Programme on a case-by-case basis.
* Graduates of the NTU Master of Business Administration (Accountancy)
programme are allowed to enroll directly into the Professional Programme.
# This degree has been awarded a provisional accreditation status for six (6)
months, from 1 January 2017 to 30 June 2017. During this period, eligible
graduates from SIT will be able to apply directly into the Professional
Programme as Candidates and enroll for module examinations.
The certified true copy of the degree and transcript must be submitted
at the time of enrolment into the Singapore QP. These degrees are also
recognized for the purpose of registering public accountants

under

the Accountants Act (Cap. 2).

B)

Hold

an accredited

degree or non-accredited

degree that

is

recognized by the SAC as at least comparable to a three-year undergraduate

degree using internationally recognized reference sources and complete the
Foundation Programme for Singapore QP.
27

2. Practical Requirements
To

register

in

the

Programme,

applicants

must

be

employed

with

an Accredited Training Organisation (ATO) which issues a Training

Agreement and assigns an Approved Mentor to their Candidates.

CPA Requirements in Malaysia

TheMalaysian

Institute

of

Certified

Public

Accountants

(MICPA)

Students Sponsorship Programme (SSP) was developed by the Institute

to essentially provide accredited accounting degree students with a
headstart in pursuing a professional qualification.
A

tripartite

collaboration

among

the

Institute,

employers

and

universities, the SSP opens the doors for chosen students to undertake 2 out
of 5 modules of the MICPA-CAANZ Programme (i.e. Taxation (TAX) and
Accounting

&

Reporting

(FIN)

modules)

in

the

final

year

of

their

undergraduate degree and continue to pursue the remaining 3 modules upon

graduation and commencing full-time employment with a participating
employer.
Under the SSP, employers will assess and interview eligible accounting
degree students from accredited participating universities, with the view of

28

offering successful applicants a sponsorship grant to undertake the MICPACAANZ Programme.

In return, the students will serve the employers as interns for a period
of at least 6 months and most importantly, continue to serve the employers
after the completion of their degree programmes for a minimum period of at
least 3 to 4 years. The terms and conditions of sponsorship will be stipulated
in a sponsorship contract or letter of undertaking to be mutually agreed by
both the employer and the student.

29

The Advanced Stage of CPA in Malaysia

At the Adanced Stage, the MICPA-CAANZ Programme is a unique
collaboration between MICPA and the Chartered Accountants Australia and
New Zealand (CAANZ).

The modules in the Advanced Stage are:

Financial Accounting & Reporting (FIN)

Management Accounting & Applied Finance (MAAF)

Taxation (TAX)

Audit & Assurance (AAA)

Capstone (CAP)

30

31

CPA Requirements in Hongkong:

PThe peak of success

The qualification programme is a comprehensive training program that

provides the knowledge and skills necessary to become a CPA. QP builds on
an accounting degree and progresses to course work and examinations -- the
knowledge side of the pyramid. On the practice side, you will participate in
workshops that simulate issues you will face at work as a CPA. You will then
go on to real-world experience, gained under the tutelage of a CPA, which
prepares you to assume roles with greater responsibility.

When you join the Institutes QP, you join a dynamic group of students who
32

are gaining the worlds best training for professional accountants and the
designation of CPA, the apex of accounting qualifications. Graduates of the
program have the knowledge, skills and values it takes to carry the
designation of CPA.

Completing the QP exempts you from passing the Hong Kong practicing
certificate examinations, which are necessary for registration as an auditor.

All QP students registered who hold a non-Hong Kong accountancy degree

need to sit and pass the aptitude test on Hong Kong law to gain a practicing
certificate.

CPA Requirements in Australia:

CPA PROGRAM
Includes four compulsory subjects, two electives and an experience
component that will give you the skills to stand out in the real world.
1. Ethics and Governance

33

Learn the application of ethical principles, together with a strong

knowledge of key corporate governance principles and mechanisms.
2. Financial Reporting
Apply accounting standards, interpret financial reports, and understand
the business impacts of financial reports.
3. Strategic Management Accounting
Learn how management accounting provides the information critical to
the business decision making process. This subject then takes it all one
step further and introduces the role of the management accountant in
business strategy.
4. Global Strategy and Leadership
In the capstone subject, you will use strategic analysis to address
complex business issues in a competitive and uncertain business
environment.
5. Elective 1
6. Elective 2
If you have completed recognized studies in taxation and auditing, you
can

choose any two electives. If you have not completed recognized

studies in

taxation and/or auditing, you must select Advanced Taxation

and/or Advanced Audit and Assurance.

34

ADVANCED TAXATION

Identify, analyze, and assess taxation implications for individuals and

business

entities and ensure compliance with taxation laws. Local taxation

units are

available or Malaysia and Singapore.

ADVANCED AUDIT AND ASSURANCE

Focus on both external and internal audit procedures. This subject will
ensure

you understand the audit process and are able to apply

international standards to

complex audits.

FINANCIAL RISK MANAGEMENT

Recognize the financial risks faced by businesses and understand the

key

mechanisms and frameworks used to address and manage risk.

CONTEMPORARY BUSINESS ISSUES

Analyze and evaluate the role of the CPA in contemporary business and
how the

accounting profession continues to evolve.

Your Experience:
To become a CPA you need 36 months of relevant experience. You can
complete Your Experience before, after, or concurrently with your CPA
35

Program subjects, however we recommend doing it concurrently. You will

gain skills in four skill areas:

Technical
Personal effectiveness
Business
Leadership

WORKS CITED:

Philippine Regulatory Commission. Board of Accountancy. Retrieved from

http://www.prc.gov.ph/prb/?id=1&content=1

BOA Secretariat (August 24, 2016). New Accountancy Tracks Forthcoming.

Retrieved from http://philcpa.org/2016/08/new-accountancy-tracksforthcoming/

Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of
Nations. Retrieved from
https://www.ibiblio.org/ml/libri/s/SmithA_WealthNations_p.pdf

Yousuf Dhamee (1996). Adam Smith and the Division of Labor. Retrieved
from http://www.victorianweb.org/economics/division.html

Cooraaf, Abdirizak Mohamed Ali (April 19, 2015). Roles and Importance of
Professional Accountants in Business. Retrieved from
https://www.linkedin.com/pulse/roles-importance-professional-accountantsbusiness-abdirizak

Philippine Statistics Authority (May 7, 2014). 2012 Census of Philippine

Business and Industry - Professional, Scientific and Technical Activities for
Establishments with Total Employment of 20 and Over: Preliminary Results.
36

Retrieved from https://psa.gov.ph/content/2012-census-philippine-businessand-industry-professional-scientific-and-technical

De La Salle University (January 1997). The DLSU Accountancy Program:

Broradening the Capability of future CPAs. Retrieved from
http://www.dlsu.edu.ph/research/centers/cberd/pdf/business/vol1/vol1no2.pdf

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