Frequently asked questions for MIA members cover the following areas:
The agreement
Q. Is CPA Australia or the MIA making the MRA publicly available?
A. Public comment may be made in relation to this MRA but the document is not available as is deemed as confidential.
Q. What is the term of this MRA?
A. The initial term is for five years, commencing 27 June 2007. It will be re-visited for possible renewal near the end of term. Members acquiring CPA membership under this MRA will be able to maintain their membership should the MRA not be renewed.
Membership
Q. Why should I become a member of CPA Australia?
A. The MRA provides MIAs with increased recognition in Australia, China, Hong Kong, Malaysia, New Zealand and Singapore and, therefore, increased international profile and mobility.
Q. What are the annual fees for CPA Australia?
A. For an Associate member admission fees are:
$138 AUD for Australia and New Zealand residents
or
$125 AUD for overseas residents;
plus a membership fee applies for the remainder of 2008:
$165 AUD for Australia and New Zealand residents
or
$150 AUD for overseas residents
Full CPA membership fees are:
1 January to 30 June 2008
- $544 AUD for Australia and New Zealand residents
- $494 AUD for overseas residents
1 July to 31 December 2008
- $272 AUD for Australia and New Zealand residents
- $247 AUD for overseas residents
Q. Do MIAs need to pass any exams or take any courses before they can become eligible for CPA membership?
A. Yes. MIAs must complete the CPA Program and may apply for a full exemption under the recognition of prior experience arrangement 1 for the Mentor Program.
Q. Will my CPA designation be recognised in other countries?
A. The CPA designation is recognised in Australia, China, Hong Kong, Malaysia, New Zealand and Singapore. However, members admitted under the terms of this MRA are not eligible for membership in other bodies under other MRAs signed by either organisation.
Q. Will MIA members be eligible to take advantage of the reciprocity agreement CPA Australia has with the in the US. Would this provide any benefits to an MIA who becomes a CPA?
A. No. Members admitted under one MRA between two bodies are not eligible for admission in a third body under another MRA.
Q. If I am already a CPA, do I have to do anything?
A. No. Individuals who are currently members of both CPA Australia and MIA only need to ensure each designation's requirements are maintained to remain a member of both.
Eligibility
Q. Am I eligible to join CPA Australia through the MRA if I gained membership of the MIA through my membership with another body?
A. No.
Q. Does the agreement cover MIAs living only in Malaysia?
A. No. The agreement offers MIAs around the world the opportunity to become a CPA Australia member.
Application documentation / process
Q. If I am an MIA member wanting to apply for CPA Australia membership, what documents will I need to submit?
A. You will need to submit:
- 100 points of identification (see application form)
- Membership Status Letter , which can be obtained from MIA
- Certified true copies of university academic awards and transcripts
- admission and membership fee (see application form)
- change of name documentation (if applicable)
Q. Do I need to apply for an overseas assessment as part of the MRA process?
A. No. Your qualifications will be assessed as part of the application process.
Q. Can I apply for a Migration Assessment at the same time I apply for the membership?
A. Yes. There will be no charge for a migration assessment at the time of application.
Q. How long will it take for my application for CPA Australia membership to be processed?
A. Approximately 3 - 4 weeks.
CPD
Q. Do members of each body have to complete extra CPD?
A. No, just the CPD hours stipulated by each body, which is in accordance with IFAC. For further information visit the IFAC website.
Q. If I complete my CPA Australia CPD requirements, will this count towards my MIA CPD requirements as a member?
A. Yes. Completion of CPA Australia's CPD requirements will satisfy the CPD requirements set by MIA. However, you will be required to report annually to both MIA and CPA Australia.
Public practice
Q. Does the MRA confer the right to sign audited financial statements in countries where CPA Australia has statutory audit recognition?
A. No. Members wishing to sign audited financial statements, conduct public accounting services and act as a tax agent in Australia must upon completion of the CPA Program obtain a Public Practice Certificate to meet the additional requirements of CPA Australia or the relevant regulatory authority.
