MICPA - Malaysian Institute Of Certified Public Accountants.
All countries have established organizations that will serve as the enforcer of standards and assistance for its people. In the field of accountancy, there are also several organizations that were built in order to assist all people who are taking accountancy and willing to learn about the guidelines that they must consider for them to be recognized in their chosen field. In Malaysia, one of the organizations that were established for this field is the MICPA or the Malaysian Institute of Certified Public Accountants.
What Is MICPA?
MICPA was established in the year July 26, 1958, and it is consists of 20 members. On July 6 1964, MICPA was first named as MACPA or The Malaysian Association of Certified Public Accountants and was only named as MICPA on January 29, 2002. MICPA is a private sector in which its main objective is to ensure that there will always be advancement both in accountancy practice and theory. MICPA was established as a company based on the Companies Ordinances 1940 - 1946. MICPA was also recognized as a professional body based on the Accountants Act. Through this recognition, it was built to let all MICPA members will be eligible to register as a chartered accountant with MIA. However, MIA members are not eligible to register for membership under MICPA unless MIA members they were able to pass the MICPA examination and obtain one of its requirements, which is to have a practical experience.
MICPA Objectives.
MICPA created all its objectives with the enhancement in the level of education and training for accountants in Malaysia as the sole consideration. The principal objectives that were created are being followed in order to strengthen this aspect includes to advance both practice and theory of accountancy on all aspects, to enlist, to educate, to train as well as to assess members or accountant through examinations, or by members who are skilled in all areas of accounting. It includes preserving the professional independence of all accountants at all times in whatever capacities in which they are serving. Maintaining a high standard is also one of the principal objectives of MICPA. This high standard must be maintained by all MICPA members both in practice and professional conduct. Lastly, MICPA aims to implement all these objectives in a way that it must contribute to the advancement of the accountancy profession in connection to the industry, public practice, education, public practice and commerce.
The Structure Of MICPA.
MICPA is presided by a Council, which is comprised by thirty elected members. All of the elected members of MICPA are either member from commerce, industry, public sector, or from accounting practice. The functions and roles of MICPA are all carried out by 15 committees as well as several working groups.
MICPA is also a program that was created for all candidates who will be taking the MICPA examinations. Through this association and program together with proper implementation of the standards created by MICPA, the overall industry of Malaysia is ensured that it will be able to produce accountants that are efficient and have what it takes in further developing the business industry.
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