This course provides a discussion on (1) the Adoption of the 2016 edition of the IESBA Code of Ethics for Professional Accountants in the Philippines, (2) Republic Act No. 9298 or the Philippine Accountancy Act of 2004. Accountants play an integral part of every organization as they perform analysis , management advisory, financial data management, financial report preparation and regulatory and reporting compliance roles. A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public’s interest. Therefore, a professional accountant shall observe and comply with the Code of Ethics..

ENTRY COMPETENCIES of Participants (Prerequisites): No technical prerequisites

COURSE OBJECTIVES/LEARNING OUTCOMES Expected from the course program:

LEARNING OUTCOMES

TOPICS TO BE DISCUSSED

Specific OBJECTIVES OF THE TOPICS OR SUBTOPICS

Review on understanding of International Ethics Standards Board of Accountants.

Objectives and overview of the International Ethics Standards Board of Accountants (IESBA) and  Handbook of the code of ethics for Professional Accountants

Review the objectives and overview the International Ethics Standards Board of Accountants (IESBA) and the Handbook of this code. Also, appreciate its relevance and importance of Code of Ethics to the Accounting Profession. 

Review and understand the Role of International Federation of Accountants.

Overview of the role of International Federation of Accountants (IFAC).

Learn the overview of the role of International Federation of Accountants and the history of IFAC.

Understand the Republic Act 9298 – “Philippine Accountancy Act of 2004”

Republic Act No. 9298 – “Philippine Accountancy Act of 2004”

Learn and understand the overview the RA No. 9298 or also known as “Philippine Accountancy Act of 2004”

Understand the Adoption of the 2016 edition of the IESBA Code of Ethics for Professional Accountants as the Code of Ethics for Professional Accountants in the Philippines.

Adoption of the 2016 edition of the IESBA Code of Ethics for Professional Accountants as the Code of Ethics for Professional Accountants in the Philippines.

Learn the overview the Code of Ethics for Professional Accountants in Philippine Setting

Reinforce facts and principles covered in relation to the Code of Ethics for Professional Accountants in the Philippines

Reading Materials: RA 9298 – “Philippine Accountancy Act of 2004 and Professional Regulatory Board of Accountancy Resolution No. 18 Series of 2018.

Identify the provisions under the Code which relate to the topics discussed

Master the facts and principles covered in the lesson

Short Quiz (Multiple Choice)

Gain mastery of the principles and application of what was covered in the module

 

*EVALUATION by the CPD PROVIDER:  Passing rate is 75%. Participant can stream the training video and retake for an unlimited number of times until the subject is mastered.

Course Curriculum

  • 1

    Important Reminders Before You Start Your Training

    • Daily Training Limit, Time Zone and Other Reminders
  • 2

    Test Your Knowledge

    • Test Your Knowledge
  • 3

    Reference Materials

    • Code of Ethics for Professional Accountants - Updates

    • 2018-18-code-of-ethics-2016
  • 4

    Introduction and Overview

    • Standard Setting Bodies and Governing Law

    • Overview of the Code of Ethics

    • Overview of the Fundamental Principles
  • 5

    SECTION REVIEW: Introduction and Overview

    • SECTION REVIEW: Introduction and Overview
  • 6

    Changes in 2014 and 2015 IESBA Code of Ethics

    • Changes in IESBA Code of Ethics 2014 and 2015 Editions
  • 7

    SECTION REVIEW: Changes in 2014 and 2015 IESBA Code of Ethics

    • SECTION REVIEW: Changes in 2014 and 2015 IESBA Code of Ethics
  • 8

    NOCLAR Provisions

    • Provisions on NOCLAR (2016 IESBA Code of Ethics Sections 225.33 to 34)

    • Provisions on NOCLAR (2016 IESBA Code of Ethics Sections 225.35 to 36, 225.52 to 54 and 360)
  • 9

    SECTION REVIEW: NOCLAR Provisions

    • SECTION REVIEW: NOCLAR Provisions
  • 10

    Sections Amended to Fit Philippine Pertaining to Professional Accountants in Public Practice

    • Section 290

    • Section 291
  • 11

    SECTION REVIEW: Sections Amended to Fit Philippine Pertaining to Professional Accountants in Public Practice

    • SECTION REVIEW: Sections Amended to Fit the Philippine Setting
  • 12

    Conclusion

    • Definition of Assurance Engagement and Professional Accountant

    • Conclusion
  • 13

    EXERCISES

    • LIST OF SCENARIOS

    • SCENARIO 1

    • SCENARIO 1 - Questions

    • SCENARIO 2

    • SCENARIO 2 - Questions

    • SCENARIO 3

    • SCENARIO 3 - Questions
  • 14

    CASE STUDY

    • CASE STUDY: HIRED BY A MONEY LAUNDERER

    • CASE STUDY QUESTIONS
  • 15

    Code of Ethics Lesson 4 Quiz

    • Quiz
  • 16

    Evaluation Form

    • Evaluation Form and Attendance Sheet (as required under PRC Resolution no. 1244 Series of 2020)

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