Pathway to CPA Australia membership for Institute of Certified Public Accountants of Singapore members

The following steps demonstrate the pathway for Institute of Certified Public Accountants Singapore (ICPAS) qualified members to become a CPA Australia members under the conditions of the mutual recognition agreement (MRA).

Pathway to membership

The following steps demonstrate the pathway for members of ICPAS to gain Associate (ASA) membership of CPA Australia.

Step 1: determine eligibility

Members must be a member of good standing of ICPAS, this means a member who:

• has no outstanding subscription fees, other fees or accounts payable to the relevant body
• has not had his or her membership suspended or terminated as a result of any professional conduct investigation
• has no current investigation into his or her professional conduct

Each such member of ICPAS applying for ASA membership will be exempt from the requirement to complete the practical experience requirement. Members will be individually assessed to determine whether they receive any exemptions from the professional level of CPA Program based on their prior qualifications.

CPA (Aust.) status membership

The following eligibility criteria applies to members of ICPAS who are the holder of either:

• an AEI-NOOSR recognised degree
• an ICPAS recognised degree, which fulfils CPA Australia’s core competency requirements

Members must also have successfully completed:

• the ICPAS professional examination
• ICPAS practical work experience requirements
• any other standard entry requirements for admission to membership of ICPAS

And be a member of good standing of ICPAS who:

• has attained CPA or FCPA status
• has no outstanding subscription fees, other fees or accounts payable to the relevant body
• has not had their membership suspended or terminated as a result of any professional conduct investigation
• has no current investigation into their professional conduct

Each application is subject to a formal, individual assessment of qualifications.

CPA status membership

Please note the following transitional arrangements expire Thursday 31 December 2009.

The following eligibility criteria applies to a member of ICPAS who:

• has been a member for 10 consecutive years
• at the time of applications holds the status of CPA
• is a member of good standing and not currently subject to any disciplinary sanctions or investigations and have not been subject to any disciplinary sanctions in the past five years

FCPA status membership

Please note the following transitional arrangements expire Thursday 31 December 2009.

The following criteria applies to a member of ICPAS:

• has been a member for 10 consecutive years
• at the time of applications holds the status of FCPA
• is a member of good standing and not currently subject to any disciplinary sanctions or investigations and have not been subject to any disciplinary sanctions in the past five years

Step 2: complete application

Complete the application form and include the following with your application:

• application and membership fees (see application form)
• 100 points of identification (see application form)
• letter of good standing dated no older than one year prior to application to be obtained from ICPAS which contains the following information:
• date joined ICPAS
• date advanced to current member status
• date current membership is fully paid to
• confirming you are not a member of ICPAS by virtue of another mutual recognition agreement
• confirming you are not currently subject to any disciplinary sanctions or investigation and have not been subject to any disciplinary sanctions in the past five years
• certified true copies of university academic awards and transcripts / mark sheets
• change of name documentation (if applicable)

Step 3: forward application

Send your application to member advisory and information services at CPA Australia.

Step 4: processing applications

Your application will take approximately one – two weeks to process. If there are any queries regarding the details of your application a CPA Australia staff member will contact you via e-mail.

If your application is successful, an initial e-mail will be sent to you informing you of your success. If your application is unsuccessful, a letter will be sent to you outlining the reasons why your application was not successful.

Advice will be provided as to how you can meet CPA Australia’s membership requirements.

Step 5: advancing to CPA status

Once you become an Associate member of CPA Australia you are required to complete the professional level of CPA Program within six years. This includes four compulsory segments and two elective segments.

ICPAS members will receive an exemption from practical experience requirements of CPA Program.

To advance to CPA status, you will need to complete the advancement to CPA status form and send to CPA Australia via the details on the form.

Membership obligations

Once you are a member of CPA Australia you are obliged to:

• maintain membership of both CPA Australia and ICPAS
• complete 120 hours per triennium with a minimum of 20 hours per year of continuing professional development (CPD*)
• comply with CPA Australia’s constitution, by-laws, code of ethics for professional accountants, professional and technical standards, and pronouncements of the board.

* Completion of CPA Australia's CPD requirements will also satisfy ICPAS CPD requirements. You will be required to report annually to both ICPAS and CPA Australia. CPA Australia has an online CPD Diary which can electronically record your CPD hours.

Please note this MRA does not include rights for ICPAS members to conduct public accounting services, signed audited financial statements or act as a tax agent in Australia. A separate application for the practicing certificate issued by CPA Australia is required.

Public practice

Please note the MRA does not include rights for ICPAS members to conduct public accounting services, sign audited financial statements or act as a taxation agent in Australia.

If you wish to offer public accounting services in Australia (including book keeping services) you will need to fulfil the minimum enrolment requirements to obtain a Practising Certificate (Public Practice Certificate), which is issued by CPA Australia.

The minimum requirements to obtain a Public Practice Certificate include:

• completion of examinations approved by the CPA Australia Board in the subjects of Australian company law, taxation and audit procedures; (note the CPA Program Foundation Program - Fundamentals of Business Law exam is not a substitute for Australian company law);

• CPA Program Taxation or Advanced Taxation exam;

• Public Practice Program (distance learning program and residential); and
  relevant Australian work experience.

Additional requirements are prescribed by Australian regulators for members wishing to offer taxation, financial planning or insolvency services.