MICPA has a long history of producing top notch professional accountants who have gone on to become reputable business leaders in various organisations both locally and internationally. MICPA emphasises the importance of having an extensive and in-depth technical knowledge coupled with excellent soft skills. MICPA prides itself on having a Programme that produces professionals who can lead, innovate, value-add and is a trustworthy source of knowledge and advice.

A Deeper Understanding of Accounting in Malaysia

Being a Malaysian-based Accounting professional body, MICPA is poised to provide its members with comprehensive advice and support in local regulatory requirements, statutes, standards and laws in the area of tax and accounting that influence the business environment in Malaysia.  As a MICPA member, you will have access to the latest updates in these areas and provision of advice by the technical experts who are in regular discussions with governing authorities such as the Malaysian Institute of Accountants (MIA), Malaysian Accounting Standards Board (MASB), Inland Revenue Board (IRB), Securities Commission (SC), Audit Oversight Board (AOB), Malaysian Companies Commission (SSM), and Bursa Malaysia.

Technical Activities

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) & 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 & statutory requirements;
• Working jointly with relevant Government authorities in developing accounting & reporting standards for specialised industries such as banking & financial services and insurance;
• Working in consultation with various regulatory authorities in reviewing existing regulations & legislations, & in the development of new ones;
• Providing Government with technical assistance in whatever areas that might require the application & 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 & auditing standards & guidelines;
• Full recognition for these standards – not only by the business community, both local & international, but also the regulatory authorities & most significantly the Government;
• A high stature in international circles & forums. MICPA is 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 MICPA x CAANZ Partnership

In 2009, MICPA and Institute of Chartered Accountants Australia (ICAA) signed a Memorandum of Understanding (MoU) which has widened the horizons for potential candidates in Malaysia who wish to obtain a professional accounting profession. With the amalgamation between ICAA and the New Zealand Institute of Chartered Accountants (NZICA) which led to the establishment of Chartered Accountants Australia and New Zealand (CA ANZ), graduates of the MICPA x CA ANZ Qualifying Programme will be entitled to use the titles Certified Public Accountant (Malaysia) and Chartered Accountant (ANZ) upon fulfilling all requirements. The syllabus and exams for these 2 professional bodies are the same, with the exception of Taxation, which is based on Malaysian requirements.

Access to the Global Accounting Alliance (GAA)

As a graduate of the MICPA x CA ANZ Qualifying Programme, you will be able to gain access to the Global Accounting Alliance (GAA), an alliance of 10 professional bodies globally:

• Chartered Accountants Australia and New Zealand (CA ANZ)
• American Institute of Certified Public Accountants (AICPA)
• Chartered Professional Accountants Canada (CPAC)
• Chartered Accountants Ireland (CAI)
• Hong Kong Institute of Certified Public Accountants (HKCPA)
• Institute of Chartered Accountants in England and Wales (ICAEW)
• Institute of Chartered Accountants of Scotland (ICAS)
• Institute of Public Auditors in Germany, Incorporated Association (IDW)
• Japanese Institute of Certified Public Accountants (JICPA)
• South African Institute of Chartered Accountants (SAICA)

The GAA represents around 1,400,000 accountants around the world.  As a MICPA x CAANZ Qualifying Programme graduate, your qualification is recognised by the GAA member organisations who are there to provide services to you when you practice in their jurisdiction.  This further broadens your horizon as an accountant, removing boundaries from your career of choice.

Find out more about the GAA on their website: www.globalaccountingalliance.com

Services to Our Members

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

• Development & issuance of standards & guidelines on accounting, auditing & financial reporting
• Rendering advisory services to members on all areas of a CPAs work covering accounting, auditing, taxation, company law, financial management & insolvency practice
• Conducting continuing professional education & development programmes
• Setting & monitoring members’ compliance with ethical standards governing members’ professional conduct thereby safeguarding the interest of the general public
• Updating members via electronic means on updates to technical & professional standards
• A bi-monthly periodical produced by MICPA – The Malaysian Accountant
• Issuance of a Members’ Handbook containing technical & professional standards.