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AE3 - Regulatory Framework and Legal Issues in Business
AE3 - Regulatory Framework and Legal Issues in Business
transactions, business associations, and business laws as well as their legal implications.
The CPA candidates should know and understand the pertinent legal provisions, general
principles, concepts, and underlying philosophy of the law.
The examination is not intended to test the candidates’ expertise in legal matters so as to
practice law but only to determine that their knowledge is sufficient to enable them to
recognize the legal implications of business situations or transactions and to know when
to seek legal counsel or recommend that it be sought.
The examinations shall consist of a maximum of seventy (70) multiple choice questions
on concepts and situational problems.
Effective October 2017, the examination will include the following new topics:
Cooperatives
Insolvency Law
Corporate Rehabilitation
Bouncing checks