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MICPA Examinations

Examination Regulations & Syllabus

Part One - Examination Regulations

This information is for the guidance of students, prospective students, principals and organisations providing training of CPAs. It is divided into three parts, the first provides the Institute’s examination regulations which have been revised in January 2006, the second sets out the examination syllabus and the third contains the transitional arrangements for registered students for conversion to the revised examination structure.

The syllabus for the Professional Stage Examination was revised in 2002 and implemented with effect from the November 2002 examination. The syllabus for the Advanced Stage Examination has recently been revised and implemented with effect from the November 2006 examination.

Please click HERE for a copy of EXAMINATION REGULATIONS & SYLLABUS in PDF.

Part Two - Examination Syllabus

  1. Syllabus Outline

    The MICPA examination consists of 10 papers divided into 6 modules, which are arranged into two stages as follows:

    Professional Stage Examination Advanced Stage Examination
    Module A
    Financial Accounting and Taxation
    Business and Company Law
    Management Information and Control

    Module B
    Financial Reporting
    Auditing and Assurance
    Business Finance and Management     		Module C
    Advanced Taxation

    Module D
    Advanced Financial Reporting

    Module E
    Advanced Auditing & Assurance

    Module F
    Advanced Business Management & Integrative Case Study

  2. Syllabus Content Specification

    The syllabus for each examination paper is designed to assess candidates' knowledge and skills more precisely. In order to assist the examiners in this objective and students in their preparation for the examination, a specification grid has been drawn up for each paper indicating the relative weightings of the main sections of the syllabus.

    In addition, each topic in the syllabus is broken down into a number of areas and a level of knowledge (ranging from A to C) is shown against each area to indicate the depth at which students can expect to be examined.

    The levels of knowledge are defined as follows:

    Level A A thorough and detailed knowledge and substantial comprehension, together with the ability to solve problems where candidates have to select the information required from the fairly unstructured data provided and exercise professional judgement.
    Level B A detailed knowledge of the principles, concepts and techniques with the ability to solve problems where the information needed is clearly indicated.
    Level C An overview or current awareness only.

  3. Examinable Material

    • Legislation

      Questions involving knowledge of legislation will be based on Malaysian legislation and students are expected to have knowledge of any current changes in legislation. However no questions on new legislation will be set until at least 6 months have elapsed since the last day of the month in which Royal Assent was given to the new legislation.

    • Technical Pronouncements

      At the Professional Stage Examination, students are expected to have a working knowledge of, and answer in accordance with the requirements of approved accounting standards, approved auditing standards, generally accepted accounting principles, generally accepted auditing standards and Malaysian legislation.

      At the Advanced Stage Examination, students are expected to have a detailed knowledge of, and answer in accordance with the requirements of approved accounting standards, approved auditing standards, generally accepted accounting principles, generally accepted auditing standards, exposure drafts, and regulations and legislation relating to financial accounting, reporting and auditing.

      Questions involving knowledge of new approved accounting standards, approved auditing standards and exposure drafts will not be set until at least 6 months have elapsed since the last day of the month in which the statement became effective or was published.

Notes:
  1. Approved Accounting Standards

    Approved accounting standards comprise:

    1. Approved accounting standards and other technical pronouncements issued by the Malaysian Accounting Standards Board (MASB);
    2. Malaysian Accounting Standards (MAS) issued by MICPA, which have not been replaced by MASB Standards.

    Technical Bulletins and other statements issued by the Council of the MICPA relating to accounting are to be regarded as opinions on best current practice and thus form part of generally accepted accounting principles (GAAP).

  2. Approved Auditing & Assurance Standards

    Approved auditing & assurance standards comprise:

    1. International Standards on Quality Control (ISQC), International Standards on Auditing (ISA), International Standards on Assurance Engagements (ISAE), and International Standards on Related Services (ISRS) approved and issued by MICPA;
    2. International Auditing Practice Statements (IAPS) approved and issued by MICPA;

    Auditing Technical Releases and other statements issued by the Council of the MICPA relating to auditing are to be regarded as opinions on best current practice and thus form part of generally accepted auditing standards (GAAS).