The Institute

The Principal Objects of the Institute as set out in the Memorandum and Articles of Association are as follows:

• To advance the theory and practice of accountancy in all its aspects.
• To recruit, educate, train and assess by means of examination or otherwise a body of members skilled in these areas.
• To preserve at all times the professional independence of accountants in whatever capacities they may be serving.
• To maintain high standards of practice and professional conduct by all its members.
• To do all such things as may advance the profession of accountancy in relation to public practice, industry, commerce, education and the public service.

To be the premier business qualification in Malaysia, comparable to the best in the world.

• To enhance the value and distinctiveness of the Certified Public Accountant (CPA) qualification.
• To promote high standards of professional conduct and technical competence of members to safeguard public interest.
• To provide quality professional education and training thereby creating a competitive advantage for members.

MICPA provides a wide range of services to its members including:

• Developing and issuing of standards and guidelines on accounting, auditing and financial reporting;
• Rendering advisory services to members on all areas of CPAs work covering accounting, auditing, taxation, company law, financial management and insolvency practice;
• Conducting continuing professional education and development programmes;
• Setting and monitoring members’ compliance with ethical standards governing members’ professional conduct thereby safeguarding the interest of the general public;
• Updating members via a Members’ Handbook containing technical and professional standards and via a bi-monthly journal, The Malaysian Accountant.

MICPA has played an instrumental role in the research and development of accounting and auditing standards in Malaysia.

Its scope of commitment in developing technical standards include:

• Reviewing and setting guidelines on the applications of International Accounting Standards (IAS) and International Standards on Auditing (ISA) in Malaysia;
• Development of Malaysian Accounting and Auditing Standards for application where specific standards are necessary in order to comply with local business conditions and statutory requirements;
• Working jointly with relevant Government authorities in developing accounting and reporting standards for specialised industries such as banking and financial services and insurance;
• Working in consultation with various regulatory authorities in reviewing existing regulations and legislations, and in the development of new ones;
• Providing Government with technical assistance in whatever areas that might require the application and review of technical standards.

The upshot of all these efforts are clearly evident. Today MICPA has earned to its credit:

• The issuance of no less than 80 accounting and auditing standards and guidelines;
• Full recognition for these standards – not only by the business community, both local and international, but also the regulatory authorities and most significantly the Government;
• A high stature in international circles and forums. MICPA is more often than not acknowledged as the authoritative corporate “representative” of the accountancy profession of Malaysia.
• Maintenance of high standards in financial reporting in the country which, by all measurements, are ranked as one of the top in the Asia-Pacific region.

The Secretariat is responsible for the day-to-day running of the Institute and provides membership, technical advisory, education and examination services to our members and candidates.