The Board of Accountancy (BOA), the accounting division of the Professional Regulation Commission (PRC), is raising the revenue threshold of businesses required to engage certified public accountants (CPA) in preparing and signing financial statements.

In a statement, the Philippine Exporters Confederation Inc. (Philexport) said it met with the BOA and urged the accountancy body to review and relax its ruling under BOA Resolution No. 03-2016 —passed January this year—that requires businesses earning P10 million and up annually to engage the services of CPAs.

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