The various options of training under the current system will be streamlined into two streams as follows:
Stream I
Stream I is the traditional route of training where a student works in the office of a CPA in public practice under a training contract, and sits for the MICPA examinations at the same time. This stream of training is targeted at students who plan to build a career in public accountancy practice.Stream II
Stream II is designed for students who wish to seek a career in commerce, industry or the public sector. The students are not required to enter into a training contract but must maintain a training log book as a record of their practical experience. Practical 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. The students may undertake the MICPA examinations prior to the commencement of practical training or during the training period.
