The May 2014 CPA licensure exam was recently postponed due to vacancies in the membership of the Professional Regulatory Board of Accountancy which left only two active members of the seven-member board thereby rendering the Board short of the requirement for a quorum to validly perform its duties and functions, specifically in the formulation and extraction of test items, conduct of the examination proper and releasing of the results.
Meanwhile, with the assumption into office of the new members of the Board (Accountancy), a resolution was issued through Board of Accountancy Resolution No. 01 dated June 9, 2014 rescheduling the new dates of the July 2014 CPA board.
The CPA licensure exam will be held in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo, Legazpi and Lucena.
In addition, PRC also announced the new schedules of the subjects in the July 2014 CPA board exam.
The new schedule of subjects is as follows:
FIRST DAY - JULY 20, 2014 (Sunday)
8:00 AM - 11:00 - AUDITING PROBLEMS
1:00 PM - 4:00 PM PRACTICAL ACCOUNTING II
SECOND DAY - JULY 21, 2014 (Monday)
8:00 AM - 11:00 AM - THEORY OF ACCOUNTS
1:00 PM - 4:00 PM - AUDITING THEORY
THIRD DAY - JULY 28, 2014 (Monday)
8:00 AM - 11:00 AM - MANAGEMENT SERVICES
1:00 PM - 4:00 PM PRACTICAL ACCOUNTING I
FOURTH DAY - JULY 29, 2014 (Tuesday)
8:00 AM - 11:00 AM - BUSINESS LAW AND TAXATION
The new schedule is embodied in Memorandum Order No.2014-03 dated June 9, 2014.
PRC said that the changes in the schedules of the subjects will be applicable in the July 2014 CPA board exam only.