Apparently, this court order copy issued by Caloocan RTC branch 128 has been floating around via emails since December 30, 2010. Perhaps, it’s about time to share this copy by means of this blog specially that I am getting a lot of queries about this subject. Anyhow, the meat of this order why it was favored by the court are as follows:
First, BOA wanted to enforce and implement the regulation effective January 1, 2011, and its mandatory that all practicing CPAs must pay the required fees. It’s an expensive fee in the external appearance of a regulation.
Second, non-payment of the regulatory fees are subject to penalties. It’s per day penalty, starting from the day you have committed the violation, of an amount ranging from Php200.00. – Php9, 000.00. Take note, the penalty is on per day basis.
Third and last, non-compliance of the regulation may result to suspension and/or cancellation of CPA professional license that will result to immediate loss of the privilege to engage in public practice. Wow, this is so great!
Anyhow, aside from these points given by the petitioners, the court granted the preliminary injunction on the basis that —
1) non-filing of the resolution with the Office of the National Administrative Register; and
2) non-publication of the resolution in a newspaper of general circulation.
And as I am writing this blog, I received an invite coming from the QAR-response group for the second round of petition for the PSQC-BOA requirements. No worries, I will update you about this soon.
By the way, you can download the archive file here. Right click your mouse then choose save image as. Please rename the file with jpg extension to a zip file for you to read the archive (for example, CourtOrder.RTC128.BOA.QAR.jpg to CourtOrder.RTC128.BOA.QAR.zip). You may need winzip or winrar utility for the decompression.