Who is ICAA?
The Institute of Chartered
Accountants in Australia (ICAA) is the professional body representing Chartered
Accountants in Australia. The ICAA is a founding member of the Global Accounting
Alliance (GAA), an international accounting coalition formed by 10 of the
world's premier accounting bodies and representing more than 800,000 accountants
in over 140 countries. In Australia, the ICAA's reach extends to more than
62,000 of today's and tomorrow's business leaders representing over 50,000
Chartered Accountants and 12,000 of Australia's best graduates who are currently
enrolled in our world-class post graduate Chartered Accountants Program.
Who is MICPA?
The Malaysian Institute of
Certified Public Accountants (MICPA) was incorporated in 1958 in Malaysia as a
professional body to advance the theory and practice of accountancy in line with
global trends and practices. MICPA aims to promote high standards of
professional conduct by its members, maintain the reputation of the accountancy
profession and advance the public interest. MICPA also provides quality
education and training thereby creating a competitive advantage for its
members.
Why did MICPA and ICAA enter into this MoU?
With the globalisation of economies, international accounting is becoming
increasingly important. Collaborations between national accounting bodies, such
as this one, will encourage high levels of education and continuous training in
the profession and will ensure that as an industry, we are equipped to manage
the dynamic challenges of globalisation.
This is a great step forward in accelerating and enabling future members of MICPA to add an international dimension to their professional credentials, and to further enhance their career mobility across borders. The MoU is also a positive step forward for the accounting profession for both countries and another way to strengthen the relationship between the two nations.
What is the basis of the MoU?
The principles of cooperation and collaboration embedded in the MoU provides for
Recognition, Examination & Membership arrangements between the two
Institutes including:
- Development of a revised programme for MICPA that incorporates education modules of both ICAA and MICPA;
- Exchange of data, intelligence, education materials and resource persons; and
- Once a student of MICPA completes the revised MICPA programme and other admission requirements satisfactorily, the student will be eligible for membership of both MICPA and ICAA.
What are the Admission
Requirements for the Revised MICPA Programme?
In order to qualify as a CPA and CA, candidates must:
- Possess a recognised degree in accountancy or other discipline accredited by MICPA or ICAA
- Pass the MICPA examinations within the prescribed period
- Obtain at least 3 years of approved practical experience
Graduates with non-relevant degrees must undergo a conversion course to fulfill the pre-requisite requirements before admission to the revised MICPA Programme.
Does the Revised MICPA Programme provide for any Entry
Qualification Exemption?
Yes, to view the List of Approved Qualifications for exemption from the
revised MICPA Programme, please click here
If a student has a degree in accounting from an
Australian University, does MICPA recognise this qualification for registration?
If a student has an accounting degree from an Australian university which is
recognised by ICAA, they can register for the exams in Malaysia.
Can a student who is currently undertaking the existing
CPA Programme be allowed to convert/opt to the revised MICPA Programme?
Yes, they would be allowed to convert to the revised MICPA Programme but will
be subject to transfer and conversion procedures.
Approved Practical Experience
Work experience forms an integral part of the revised MICPA programme
process. However, there is no standard model for the work experience to be given
to every student. It varies from student to student and from office to office.
As a general guide, the following categories of experience are held to be fundamental to the work of professional accountants.
| Accounting | Financial Management | Auditing | Insolvency | Taxation | Information Technology |
All potential CPAs under the revised MICPA programme are required to obtain not less than 3 years of approved practical experience.
What streams of training are provided under the Revised
MICPA Programme?
Two streams of training are available to students as follows:
Stream I: where a student works in the office of a CPA in public practice under a training contract and sits for the examinations at the same time. To view the list of CPA firms, please click here
Stream II: where the training must be obtained in an approved training organisation (ATO) under the supervision of a member of MICPA or one of the professional bodies approved by MICPA. To view the list of ATOs, please click here
What is the examination structure for the Revised MICPA
Programme?
Students will be required to undertake a common examination which comprises 4
technical modules and a final module as follows:
Technical Modules
- Financial Accounting & Reporting
- Audit & Assurance
- Management Accounting & Analysis
- Taxation
Final Module
- Ethics & Business Application (EBA)
Each module examination will be conducted as an open-book exam.
What sequence must the modules be completed?
The five modules in the Programme run for 12-14 weeks each. Candidates can
undertake the four technical modules in any order and will only be allowed to
sit for the final module, Ethics and Business Application, when they have
successfully passed all technical modules.
Are students allowed the option to take more than one
module per sitting?
Students are only allowed to take one module at a time.
Would students be entitled to study leave for the
Revised MICPA Programme?
Yes, students will be entitled to study leave. For the guidelines on study
leave, please click here
How is the assessment framework for the Revised MICPA
Programme?
The assessment process will be designed to ensure that students have gained
the knowledge, skills and professional values which are fundamental to becoming
a Certified Public Accountant in Malaysia and a Chartered Accountant in
Australia.
For each module, students will be assessed on a range of activities including written projects, focus session attendance and written examinations.
What are the Weightings of Assessment for the 4
Technical Modules?
The new assessment framework has three requirements for each module: a
Project of 20% marks, a final examination of 80% marks and attendance at four
(4) focus sessions (no marks).
To pass a module, a student must meet the following three requirements:
- Pass the exam by achieving a minimum of 40 marks out of 80;
- Pass the module by achieving 50 marks overall (the combined project and examination mark); and
- Attend four focus sessions.
What if a student does not pass the Project (i.e. get
less than 10 marks) will they be eligible to sit the examination?
Yes, it is not a requirement to pass the Project. Candidates will have the
opportunity in the exam to make up the extra marks needed to get the minimum of
50 marks needed to pass the module overall.
For example, if candidates receive 8 marks out of 20 for the Project, they will need to achieve a minimum of 42 marks out of 80 in the final exam to reach the overall module pass mark of 50.
What are the Weightings of Assessment for the Final
Module, Ethics and Business Application?
The assessment for the EBA module is a 100% examination but
it is compulsory for a student to attend 3 focus sessions before to be eligible to pass the module.
How many terms are there in a year for the Revised MICPA Programme?
There will be 3 terms in a year - January, June and September.
- Two (2) Technical modules and the Ethics and Business Application module will be offered in each term.
- A Supplementary Examination will be held for students who have failed the Technical modules marginally.
- There will be no Supplementary Examination for the Ethics and Business Application module.
When will the examination results be released after a
sitting?
The results will be released approximately eight (8) weeks after the final
examinations are held.
Is there a time-frame for completion of the Revised
MICPA Programme?
The examinations must be completed within the time bar of eight (8) years.
Would focus sessions be conducted under the new
Programme? If yes, what is the structure of the focus sessions?
Focus sessions will be conducted for each module and a student who has been
absent from any of the focus sessions without a valid reason will be barred from
passing a module.
What is the scale of fees payable by a student upon
registration?
The fee payable by a student would be in the range of RM17,000 and would
cover registration fee, student annual fee, fee payable to students society,
examination fee, candidate learning pack and focus sessions.
For further information on the Scale of Fees, please click here
Under the MoU, what would be the membership arrangements for MICPA and ICAA?- Once a student of MICPA completes the Revised MICPA Programme in Malaysia and other admission requirements satisfactorily, the student will be eligible for membership of both MICPA and ICAA;
- Alternatively, once a student of ICAA completes the Chartered Accountants Program in Australia and other admission requirements satisfactorily, the student will be eligible for membership of both ICAA and MICPA; and
- A student is expected to hold both memberships.
The revised programme will facilitate and enhance the movement of younger members within a worldwide alliance.
What are the rights and privileges entitled to a member under the Revised MICPA Programme?
- Entitled to use the designation Certified Public Accountant (CPA)
- Enjoy the full range of service provided by MICPA
- Entitled to use the designation CA Australia
As a member of the Australian Institute, you will also be entitled to a range of reciprocal benefits as part of the Global Accounting Alliance (GAA) passport wherever your work may take you. The GAA represents over 800,000 professional accountants in over 140 countries from around the globe. Member benefits include access to local knowledge centres, networking opportunities, training and development, and publications at member rates.
Further information regarding GAA member support is available at: globalaccountingalliance.com
Enquiry
If you need further information or have any queries on the
Revised MICPA Programme, please contact
The Malaysian Institute of Certified Public Accountants (MICPA)
No.15 Jalan Medan Tuanku
50300 Kuala Lumpur
Tel: +603-2698 9622
Fax: +603-2698 9403
Email: micpa@micpa.com.my
