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ACCA and MICPA sign major accountancy agreement
Relationship strengthened by MRA
14 Aug 2007
An agreement that will have significant impact towards the development of the accountancy profession in Malaysia has been signed by the Malaysian Institute of Certified Public Accountants (MICPA) and ACCA.
The Mutual Recognition Agreement (MRA) provides a route for members of both MICPA and ACCA to join the other body, and enjoy the benefits which both respected designations can offer. Both institutions of reputation and tradition have joined forces to work on strengthening the Malaysian accountancy profession. ACCA is the world’s largest and fastest-growing global professional accountancy body and MICPA is an established professional accountancy body with technical excellence. It has over 3,000 CPAs engaged in public accounting practice and various fields of employment and close to 800 students pursuing the CPA qualification.
ACCA members may obtain MICPA membership by passing the MICPA Admitting Examination. Alternatively, ACCA members with more than five years post-qualification experience can qualify for CPA membership by passing an interview with the MICPA Membership Admission Panel. Upon obtaining CPA membership they will gain a prestigious CPA designation with technical excellence.
MICPA members wanting to gain ACCA membership will have to prepare for and pass ACCA’s Professional Accountant paper, P1, from the final level of ACCA’s examinations. Alternatively, those MICPA members with more than five years post-qualification experience can qualify for ACCA membership by taking the ACCA online Professional Ethics module, a key part of ACCA’s revised 2007 professional syllabus or the ACCA Critical Incident Questionnaire. Upon obtaining the ACCA membership they will gain a globally-recognised and portable qualification.
MICPA president, Y Bhg Dato’ Nordin Baharuddin, said: ‘The Mutual Recognition Agreement (MRA) between ACCA and MICPA facilitates closer working relationship between the two bodies in professional education and development and provides members with access to the services offered by both bodies. The MRA also provides an opportunity for Malaysian accountants to gain an additional qualification that increases their international mobility.’
ACCA president Gillian Ball said: ‘We are delighted to be signing the MRA with MICPA which strengthens our already excellent relationship and which will benefit members of both bodies and the wider profession. Both bodies share common and strong interests in the advancement of accountancy, especially in relation to the maintenance and strengthening of professional and educational standards, and this agreement has been reached on the basis of equivalence of qualifications and sound educational review of each other’s syllabus.’
For more information on this agreement, please click below or under ‘See also’.