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MIA Membership Routes in Malaysia

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Questions and Answers

What is the role of the Malaysian Accounting Standards Board (MASB)?

To develop and promote high quality accounting and reporting standards consistent with international best practices.

Name two examples of regulatory bodies in Malaysia.

Securities Commission Malaysia and Bank Negara Malaysia

List two examples of professional bodies related to the accountancy profession in Malaysia.

MICPA and ACCA

What is the minimum requirement for accounting graduates from Malaysian universities listed under Schedule 1 of Part 1 of the Accountants Act 1967 to become MIA members without obtaining a professional accounting qualification?

Three years of relevant accounting working experience Signup and view all the answers

When was the Malaysian Institute of Certified Public Accountants (MICPA) formed, and under what legal framework?

MICPA was formed in 1958 as a company limited by guarantee under the Company Ordinance 1940. Signup and view all the answers

How has the Malaysian Institute of Certified Public Accountants (MICPA) contributed to the business and financial reporting environment in Malaysia?

Its involvement as a technical advisory to Malaysian regulatory bodies has played a key role in the development and organization of business and financial reporting environment in Malaysia. Signup and view all the answers

What is the role of the Malaysian Institute of Certified Public Accountants (MICPA) in relation to the International Federation of Accountants (IFAC)?

The role of MICPA is as a founding member of IFAC, contributing to the protection of public interest and advancement of the accounting profession internationally. Signup and view all the answers

Why is membership to the Malaysian Institute of Accountants (MIA) crucial for the accounting profession in Malaysia?

Membership to MIA is crucial as it is the sole issuer of the license to practice as an accountant in Malaysia. Signup and view all the answers

What are some of the areas monitored by the IFAC member body compliance programme?

The compliance programme monitors regulatory and standard-setting framework, as well as roles and responsibilities in audit, accounting, ethics, discipline, and continuous development. Signup and view all the answers

What are some of the other international professional accounting bodies besides MICPA that have gained significant presence in Malaysia?

ACCA, ICAEW, CPA (Australia), and CIMA are some of the other international professional accounting bodies present in Malaysia. Signup and view all the answers