Assessment Statement for the ASEAN Chartered Professional Accountant (ACPA) - Part A Introduction

Sep 2, 2026

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Assessment Statement for the ASEAN Chartered Professional Accountant (ACPA) sets out the governance framework used by the ASEAN Monitoring Committee on Professional Accountancy Services of the Philippines to assess Professional Accountants for registration on the ASEAN Chartered Professional Accountant Register (ACPAR). It explains the ASEAN Mutual Recognition Arrangement objectives, defines an ACPA and its authorization process through the Professional Regulatory Authority and the monitoring committee, and details scope and limitations for Registered Foreign Professional Accountants in the Philippines, including permitted practice areas and collaboration conditions.

LanguageEnglish

CategoryExam

FormatPDF

Pages13

Reading Time33 min

AccessFree to download

Part A. Introduction

1. ASEAN Mutual Recognition Arrangement on Accountancy Services

2. ASEAN Chartered Professional Accountant (ACPA)

3. Purpose and Operation of the Assessment Statement

4. Registered Foreign Professional Accountant (RFPA)

5. Privileges and Obligations of a Registered Foreign Professional Accountant

Part B: Professional Regulatory Authority and Monitoring Committee

6. Professional Regulatory Authority (PRA)

# ASEAN MONITORING COMMITTEE ONPROFESSIONAL ACCOUNTANCY SERVICES OF THE PHILIPPINES Resolufones of12086) # APPROVAL OF THE ADMINISTRATIVE AND PROCEDURAL GUIDELINES FOR ASEANCHARTERED PROFESSIONAL ACCOUNTANTS(ACPA)APPLICATIONS WHEREAS,the ASEAN Mutual Recognition Arrangement(MRA)on Accountancy Services(Annex A)provides the framework for mutual professional recognition and borderless practiceof Professional Accountants within the ASEAN Region; WHEREAS,pursuant to the same,the ASEAN Monitoring Committee on ProfessionalAccountancy Services of the Philippines (AMCPASP)was established by virtue of Memorandumof Agreement(MOA-01-2018)dated 12 January 2018(Annex B)to perform the functionsprovided under Article 6 of the ASEAN MRA on Accountancy Services; WHEREAS,pursuant to the Memorandum of Agreement,the AMCPASP shall prepare thenecessary implementing guidelines to operationalize the ASEAN MRA on Accountancy Servicesin the Philippines NOW,THEREFORE,the committee RESOLVES,as it is hereby RESOLVES,to approve thefollowing: 1)Assessment Statement for the ASEAN Chartered Professional Accountants(Annex C); 2)ACPA Registration Procedure(Annex D1 and D2); 3)ACPA Philippines Applicant's Checklist(Annex E);and 4)ACPA Application Form (Annex F This resolution and its Annexes shall take effect immediately upon approval. Let this Resolution,including its Annexes,be posted in the PRC,BOA and PICPA websites.Done this 27th day of September 2018 in the City of Manila,Philippines. / TEOFILOS.PILANDO 8 Chairperson AruyGLORIA T.BAYSAMember MA.ASUNCION MGOLEZ amgMember DNA NOE G.QUINANOLAMember SAMUE B.PADILLA Member # REPUBLIC OF THE PHILIPPINESASSESSMENT STATEMENT FOR THEASEAN CHARTERED PROFESSIONAL ACCOUNTANT(ACPA) ## PART A.INTRODUCTION ### 1.ASEAN Mutual Recognition Arrangement on Accountancy Services The Governments of Brunei Darussalam,the Kingdom of Cambodia,the Republic ofIndonesia,Lao People's Democratic Republic,Malaysia,the Republic of the Union ofMyanmar,the Republic of the Philippines,the Republic of Singapore,the Kingdom ofThailand,and the Socialist Republic of Viet Nam,Member States of the Association ofSouth East Asian Nations(hereinafter collectively referred to as "ASEAN"or "ASEANMember States"or singularly as "ASEAN Member State")have agreed on the ASEANMutual Recognition Arrangement on Accountancy Services with the following objectives: 1.1 To facilitate mobility of accountancy services professionals across ASEANMember States; 1.2 To enhance the current regime for the provision of accountancy services in theASEAN Member States;and 1.3 To exchange information in order to promote adoption of best practices onstandards and qualifications. ### 2.ASEAN Chartered Professional Accountant(ACPA) 2.1 A Professional Accountant who is a national of an ASEAN Member State andwho possesses the qualifications and experience to comply with therequirements specified in Part B of this Assessment Statement may apply to beregistered on the ASEAN Chartered Professional Accountant Register (ACPAR)and accorded the title ASEAN Chartered Professional Accountant(ACPA).ASEAN Member States may have different nomenclatures and requirements forthe term "Professional Accountant". 2.2 Under the ASEAN Mutual Recognition Arrangement on Accountancy Services,the Professional Regulatory Authority(PRA)in each participating ASEANMember State,or in the case of the Philippines,the Professional RegulationCommission(PRC),shall authorize a Monitoring Committee(MC)to receive andprocess applications of its Professional Accountants for registration as ACPA,and to develop,operate and maintain the ACPAR. 8 4 2.3 Pursuant to the Memorandum of Agreement(MOA)made and entered into byand among the Professional Regulation Commission(PRC)and the PhilippineInstitute of Certified Public Accountants(PICPA),the ASEAN MonitoringCommittee on Professional Accountancy Services of the Philippines(AMCPASP)was created to serve the functi

FAQs

What is the ASEAN Mutual Recognition Arrangement on Accountancy Services intended to achieve?

It facilitates mobility of accountancy services professionals across ASEAN Member States, enhances the provision regime in member states, and supports exchanging information to promote adoption of best practices on standards and qualifications.

Who can apply to be registered as an ASEAN Chartered Professional Accountant (ACPA)?

A Professional Accountant who is a national of an ASEAN Member State and meets the qualifications and experience requirements in Part B may apply for registration on the ACPAR and be accorded the ACPA title.

What practice areas may a Registered Foreign Professional Accountant (RFPA) perform in the Philippines?

An RFPA may practice financial auditing services, accounting review services, compilation of financial statements services, other accounting services, and book-keeping services (excluding tax returns), under the stated conditions.

Sep 2, 2026

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