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By Laws

Code of Ethics













SECTION 1. FISCAL YEAR. The fiscal year of the Philippine Institute of Certified Public Accountants. - Dubai Chapter shall begin with the first day of January and shall end with the last day December of each calendar year.


SECTION 2. ACCOUNTING SYSTEM. The Chapter shall use the accounting system adopted by the National Secretariat.


All committee activities shall be promptly and properly accounted for and costing sheet listing all the regular expenses shall be used for the purpose. Among the regular and necessary expenses are costs of stationery, meeting notices, postage and messengerial services.


Accounts receivables arising from activities must be collected within thirty (30) days from the last day of the month they were realized.


The following accountable forms, to be provided by the National Office, shall be used by the chapter:


a)     Official Receipts

b)     Debit/Credit Notes

c)     Statement of Accounts


and distributed as follows:


a) Original - Customer/member

b) Duplicate - National Office

c) Triplicate - Chapter File


SECTION 3. REPORTS. The Chapter Treasurer shall be responsible for the preparation and completion of the following reports as provided for in Section 5 of Article VIII on a monthly basis for reporting to the chapter members and to the National office, as and when required, so that the National Board may be informed of the Chapter Finances, The reports shall be audited by the Auditor and Approved by the Chapter President


1.         Financial Reports


a)     Schedule of Monthly Remittance to the National Office;

b)     Monthly Statement of Receipt and Disbursement;

c)     Semestral Statement of Revenue and Expenses;

d)     Summary of Monthly Receipts

e)     Semestral Balance Sheet

2.         Quarterly Operating Report which will highlight the chapter activities held for the past quarter, new member recruited during the month, sports activities, etc.


SECTION 4. RECORDS. The following records should be preserved indefinitely or permanently, in such a manner that the same should be easily available to the auditor and to those properly authorized.


1.         Chapter Guidelines

2.         Membership Records

3.         Minutes Book

4.         A list of members in good standing and a list of members with outstanding accounts.

5.         Books of Accounts

a)     Cash Receipts Book

b)     Cash Disbursement Book

c)     General Journal

d)     General Ledger

e)     Membership Accounts/Subsidiary Ledger

f)       Accounts Payable


6.         Official receipts, vouchers and other source documents including supporting documents.





SECTION 1. NON-POLITICAL/SECTARIAN ASSOCIATION. The Chapter shall be strictly non-political, non-partisan. Any member indulging in any activity that tends to impair this basic feature is strictly prohibited and shall be penalized in the discharge of his functions.


SECTION 2. PICPA FOUNDATION SUPPORT. The Chapter supports the Philippine Institute of Certified Public Accountant’s Foundation.


SECTION 3. POSITIONS HONORARY. The leadership of the Philippine Institute of Certified Public Accountants - Dubai Chapter shall serve primarily the interest of the CPA profession and its members and the attainment of the objectives of the National Organization.


Except as maybe specifically authorized or allowed by the Professional Regulation Commission, no council member shall received any compensation, allowance or emolument from the funds of the Chapter for any services rendered therein or be entitled to reimbursement for any expenses incurred in the discharge of his functions.


SECTION 4. GRIEVANCE PROCEDURES. The Chapter Council shall provide in the By-laws for grievance procedures for the enforcement and maintenance of discipline among all the members, but no action involving the suspension or loss of membership or the removal of his name from the registry of Certified Public Accountants shall be effective without the approval of the PICPA National Board of Directors with concurring approval of Professional Regulation Commission.






SECTION 1. RULES OF ORDER. The rules of parliamentary procedures contained in “Robert’s Rule of Order” shall govern all meetings of Chapter members, Chapter Council or committees.






SECTION 1. PROFESSIONAL ETHICS. To strengthen the foundation of the Accountancy profession in the Emirates, there must be a unity of purpose and clear concept of the obligations of all Certified Public Accountants to the profession, to their clients of employees, to their colleagues in the profession and to the public. These obligations include the maintenance of high standards of technical competence, morality and integrity. For this purpose, the Code of Professional Ethics for Certified Public Accountants promulgated by the Board of Accountancy on March 15, 1978 is hereby made part of these By-Laws to which all members of the Chapter must adhere.


SECTION 2. VIOLATIONS OF THE CODE OF PROFESSIONAL ETHICS. Any violation of the provision of the Code of Professional Ethics committed by the member of the Chapter shall be referred to the Ethics Board of the National Organization who shall have jurisdiction to hear and decide the case and forward the decision to the Board of Accountancy. The Board, after the hearing, may reprimand the member, recommend the suspension of his membership for the period not exceeding five (5) years; or recommend the revocation of his membership from PICPA if adjudged guilty of the offense complained of. The suspension or revocation of membership shall not become final until after approval by the Professional Regulation Commission.


SECTION 3. REINSTATEMENT. A petition for reinstatement of an expelled member shall also be referred to the Ethics Board of the National Organization, who after lapse of five (5) years may recommend to the PICPA National Board of Directors for the restoration of his membership, provided that the petitioner had, during the period when his certificate was revoked acted in an exemplary manner and has not committed any illegal, immoral or dishonorable act.






SECTION 1. AMENDMENTS. These By-Laws may be amended or repealed in whole or in part by the affirmative vote of the majority of the members in good standing at any regular meeting of the members or in any special meeting duly called for that purpose. The power to repeal of amend these By-Laws may be delegated to the Chapter Council in the manner provided by the Philippine Corporation Law.






SECTION 1. EFFECTIVITY. The provision of these By-Laws shall be effective starting January 1, 1997.


Done in the City of Dubai, United Arab Emirates, this 15th day of November, 1996.


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