APEC Economy: The Philippines

As of December 2011, no response had been received from the Philippines to the APEC Accounting Services Initiative questionnaire. Limited information from publicly available sources is provided below.

Accountancy Services – General background

In the Philippines, provision of accountancy services requires a license from both a regulatory body and a professional accounting body
The provision of the following accountancy services requires a license from a regulatory body:

Licensing Requirements

The name of and contact details of the organisations that control the licensing of accountants, the regulations applicable to licensing of accounting services in this economy are as follows:

Republic of Philippines Securities and Exchange Commission
Website: www.sec.gov.ph/

Professional Regulation Commission (PRC)
Address:  P.Paredes St. cor.
Address 2:  Morayta Street
City/Town: Sampaloc, Manilla
Phone number: +632 736 8018
Fax number:  +632 735 4476
Website:  http://www.prc.gov.ph/

Legislation: PICPA By Laws:

Licensing of Foreign Nationals

A foreign accountant can obtain a license to provide limited accountancy services in this economy. Section 34. Foreign Reciprocity. - Subject or citizen of foreign countries may be allowed to practice accountancy in the Philippines in accordance with the provisions of existing laws, international treaty obligations including mutual recognition agreement entered into by the Philippines government with other countries.

A person who is not a citizen of the Philippines shall not be allowed to practice accountancy in the Philippines unless he/she can prove, in the manner provided by the Rules of Court that, specific provision of law in the economy of which he/she is a citizen, subject or national admits citizens of the Philippines to the practice of the same profession without restriction.

There are specific restrictions or requirements relating to education and experience (other than nationality or residency) that limit the ability of foreign nationals or residents to become fully licensed local accountants in this economy. The minimum level of education is a university degree in accounting that includes related subjects such as auditing, commercial law, company law and taxation.

The relevant legislation are as follows:

Regulations:  Accounting Act 2004
Web access: http://www.lawphil.net/statutes/repacts/ra2004/ra_9298_2004.html

Name of organisation: Professional Regulation Commission (PRC)
Website:                     http://www.prc.gov.ph/
Regulations:              Resolution No. 98-547 Guidelines for the registration of foreign professionals allowed by laws to practice the regulated professional in the Philippines
Web access:             http://www.prc.gov.ph/international/?id=32

Limited Licence

Unable to determine.

Professional Accounting Bodies

A separate license is required from the local professional body in order to provide professional accountancy services in this economy. There are four categories for registration:-

  1. Public Practice
  2. Commerce and Industry
  3. Education /Academia
  4. Government

Application to change category of registration can only occur every three years.

There is one recognised professional accounting body in this economy:


Philippine Institute of Certified Public Accountants


PICPA Building,

Address 2:

700 Shaw Boulevard


Mandaluyong City

ZIP/ Postcode:




Email address:


Phone number:
Fax number:

+63 2723 0691-9
+63 2723 6305



Levels of membership:

  • Active Member
  • Sustaining Life Member
  • Honorary Life Member
  • Associates

Eligibility to other bodies in the APEC economies

Unable to determine.

Alliance & MOUs

Unable to determine.

Temporary practice arrangements

A foreign accountant is permitted to provide professional accountancy services on a temporary basis without a local license in this economy (S35) in the following circumstances:

In this economy:

Other regulatory issues

Unable to determine.

Additional information relevant to the Accounting profession

Unable to determine.

Contact Details

Unable to determine.