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Republic o the Philippines

Congress o the Philippines

Metro Manila

Twelth Congress

Third Regular Session

Begun and held in Metro Manila, on Monday, the twentyeight day o !uly, two

thousand three"

Republic #ct $o" %&%' May (), &**+

#$ #CT R-./#T0$- T1 PR#CT0C 23 #CC2.$T#$C4 0$ T1 P10/0PP0$S,

RP#/0$- 32R T1 P.RP2S PRS05$T0#/ 5CR $2" 6%&, 2T1R70S8$27$ #S T1 R90S5 #CC2.$T#$C4 /#7, #PPR2PR0#T0$- 3.$5S

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Be it enacted by the Senate and 1ouse o Representati:es o the Philippines

in Congress asse;bledPhilippine

#ccountancy #ct o &**+>

Section &" 5eclaration o Policy" The State recognizes the i;portance o

accountants in nation building and de:elop;ent" 1ence, it shall de:elop and

nurture co;petent, :irtuous, producti:e and well rounded proessional

accountants whose standard o practice and ser:ice shall be e?cellent,

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qualitati:e, world class and globally co;petiti:e though in:iolable, honest,

efecti:e, and credible licensure e?a;inations and though regulatory

;easures, progra;s and acti:ities that oster their proessional growth and

de:elop;ent"

Section )" 2b@ecti:es" This #ct shall pro:ide and go:ern