26th of March—thousands of criticizing remarks from the public swarmed the comment section as they watched the virtual public consultation on the proposed amendments to R.A. 9298 or the Accountancy Act of 2004. Headed by the chairman of PRC BOA, Mr. Noe G. Quiñanola, the executives intend to resolve the drop of licensure passing rates from the consecutive years of administering one of the perceived difficult board examinations in the country.
Hence, the Board of Accountancy has proposed paramount concerns for the individuals involved in the field. Particularly, in the amendments made for the admission to the licensure examinations where a candidate must undergo a 2-year relevant professional experience, and the “conditional” status is subject to removal, thereby proposing a 75% overall passing grade requirement in the three-day examination.
All of which are hypothetically perceived to be the determinants that may influence the possible rise of passers in the national setting—but unfortunately, the global competence we desperately integrate with the educational system we have does not correspond to the existing circumstances in the field, most especially, with the quality of education within various academic institutions.
As the BOA attempts to make the profession standardized, there may be an oversight of the inefficiencies within the system we currently have in the context of education and in the workforce.
The “Gainful” Employment
Overexploited and underpaid—while this course attracts millions of potential examinees in the academe, individuals who are already exercising the profession share the same sentiments. By requiring candidates to spend another 2-year preparation for the exam, the executives dare to establish an international branding of Filipino CPAs with enhanced quality of professionalism among the candidates.
A seemingly familiar situation may be recalled as they attempt to express potential negotiations with huge firms for the endorsement of non-CPAs in the field—just like how senior high school graduates were given guarantees for employment opportunities from the K-12 program.
Furthermore, measuring the competence of the aspiring CPAs with foreign countries like the USA through this would mean a reassessment of the economic framework in the Philippines—is it stable enough to provide fair and just remunerations to the accountants before they get the entitlement of the profession they had been dreaming of?
Even so, the amendments were proposed without a systematic basis as to how these established claims may be justified. Provided that this 2-year experience is to be implemented, evaluating the needs of the existing system based on another nation as if there are no varying socio-economic landscapes is not a guarantee that this step will be one of the solutions for the alarming concern of declining passing rates in the said licensure examination.
Quality Education as the root of all
Upon observing the trends in the revisions of the examination, the complex structure of the existing system may be linked to the negligence towards the actual reasons as to why candidates are still nowhere near the aimed competence in the industry.
The quality of education in the country may prove to be one of the missing pieces that the BOA needs to address in the establishment of amendments. Perhaps, some educational factors must be reconsidered as it heavily shape the eligibility of the BSA graduates in the profession.
Studies confirm the positive influence of the revisions in the curriculum towards the necessary skill set of graduates for the examination. Given that there are timely and relevant modifications of standards in the licensure exam, there is also a reiteration on the innate nature of the existing textbook-oriented curriculum, making it extensively different from an international setting; ergo, why not start with the modifications of this structure that would reflect the aimed competencies focused on a real-world setting?
With the mention of education, we must involve instructors who play vital roles in guiding the examinees. Without the need to explain further, Laguador and Refozar (2020) stated, “But the question of qualification of faculty members teaching the accountancy programs in the country can be reflected in the issue of competency and capacity of most public higher education institutions offering accountancy programs. Strengthening the faculty selection process to improve the qualification of faculty roster is vital in maintaining a culture of excellence and ensuring the development of core competencies among students.”
Additionally, potential CPAs are also bound to go through the miraculous technical changes in the passing grades of the exam—while former examinees are given chances to obtain a conditional status through a 65% passing grade in a subject, it is now about to be revoked for the Board proposes to establish a 75% grade requirement in all subjects covered by the exam to be taken for three consecutive days. Numerical results may also be denied for disclosure to the candidates as well as the publications of ranking and the passing rates of successful candidates in educational institutions.
Even though these figures are not necessarily the indicators of quality education, studies justify how these may serve as the groundwork for reforms in accounting education as it may be utilized to assist authorities in evaluating the standards of the institutions.
Many have also expressed their disapproval towards the provisions provided by the authorities but Dr. Patricia Empleo, one of the most notable professors in the field, has declared a counterproposal during the PICPA and NACPAE summit. “Why not allow the graduates to take the CPALE even without the two-year experience, but their certification be deferred until they are able to submit the document evidencing this two-year certification?”, she stated.
Amidst the risk of education arising from learning outcomes in the new setup today, aspirants of the accounting profession deserve to be enlightened about how these amendments will shake up their preparation for the examination that may lead to further questions.
Will the public be heard?
If the foundation remains to be frail, the implementation of these amendments may not produce favorable results, thereby failing to achieve the competence that we long for.
Long-term objectives exemplify the vision of an institution—but could anyone consider it foreseeable? The quest must definitely embark on the distinction of the underlying reasons behind the continuous decline of the passing rates in the licensure exams. For all one knows, taking the initiative to address the existing concerns may stand a chance for the aspiring Filipino Accountants to become professionally competent in the global setting.
Ultimately, this is a growing concern to the aspiring CPAs out there, and we cannot afford more of the delays given the economic framework of our nation today.
[REFERENCES]
Bala, J. S. (2010). The Naked Truth about the CPA Board Examination. Graduate School Research Journal University of the East, 12. https://doi.org/10.3860/gsrj.v12i0.1757
Calma, R. R., & Correa, L. V. (2020). Performance of the BSA Graduates in the CPA Licensure Examination from 2010 to 2019.
Laguador, J. M., & Refozar, R. F. G. (2020). Five-Year Declining Performance of Private and Public Schools in the Philippine Certified Public Accountant Licensure Examination. European Journal of Educational Research, 9(3), 995–1007. https://doi.org/10.12973/eu-jer.9.3.995
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