Service with Technical Excellence
The 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
The upshot of all these efforts are clearly evident.
Today the 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.
The 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