Practising in Asia

This guidance is intended to provide an introduction and overview of the requirements to practice as an accountant in Hong Kong, Malaysia and Singapore. It does not cover the requirements of members based in Asia who wish to provide public accounting services in Australia and New Zealand.

CPA Australia members are responsible for ensuring that they are aware of, and comply with, all regulators’ requirements in the countries in which they work. 

Hong Kong

The Accounting and Financial Reporting Council (AFRC) is the independent regulator of the accounting profession in the Hong Kong Special Administration Region (HKSAR). AFRC is responsible for:

• issuing practising certificates to certified public accountants
• registration of accounting practice units and Public Interest Entities auditors
• inspection, investigation and discipline work of the accounting profession
• oversight of the Hong Kong Institute of Certified Public Accountants (HKICPA) performance in its various statutory professional functions.

AFRC’s legal mandate to regulate the accounting environment in Hong Kong is based on the Accounting and Financial Reporting Council Ordinance - chapter 588.

Other relevant legislation includes:

• Companies Ordinance – chapter 622 
• Business Registration Ordinance – chapter 310
• Limited Partnerships Ordinance – chapter 37
• Partnership Ordinance – chapter 38.

The Hong Kong Institute of Chartered Secretaries and the Institute of Financial Planners of Hong Kong both recognise the CPA Australia designation for their entry requirements but the Securities and Futures Commission only recognises the HKICPA qualification.

Find out more about practising in Hong Kong

• Applying for a HKICPA practising certificate
• Becoming a member of HKICPA

 

Malaysia

You can’t practise or represent yourself as an accountant in Malaysia unless you are registered as a member of the Malaysian Institute of Accountants (MIA). Members of CPA Australia who hold CPA status are eligible for admission to MIA without further requirement. 

The accountancy profession in Malaysia is regulated by the Accountants Act 1967 (the Act) and the Malaysian Institute of Accountants (Membership and Council) Rules 2001. The Act established The Malaysian Institute of Accountants to carry out the following functions:

• to determine the qualifications of people for admission as members
• to provide for the training and education of people practising or intending to practise in the accountancy profession
• to regulate the practice of the accountancy profession
• to promote the interests of the accountancy profession
• to help members or their dependents with a view to protecting or promoting the welfare of members.

The Act also controls the use of the word ‘accountant’. No one can practise or refer to themselves as a chartered accountant unless they are registered under the Act and their principal or only place of residence is within Malaysia. The same rule applies to using the terms ‘auditor’, ‘tax consultant’, ‘tax adviser’ or any other similar description.  

Accountants in Malaysia are employed in banking, commerce, industries and educational institutions. Others may set up firms to provide professional services in the field of auditing, financial planning, tax and corporate services.

Members may describe themselves as an accountant in Malaysia and can use the designations Chartered Accountant – C.A.(M), Licensed Accountant – L.A.(M) or Associate Member – A.M.(M).

Find out more about practising in Malaysia  

• Public practice in Malaysia
• For CPA Australia member to be a C.A. (Malaysia)

 

Singapore

The Accounting and Corporate Regulatory Authority (ACRA) regulates public accountants and public accounting entities in Singapore. ACRA administers the Accountants Act 2004, and, together with the Public Accountants Oversight Committee (PAOC), ensures the integrity of public accountancy services. ACRA also maintains registers of public accountants, public accounting corporations, public accounting firms, and public accounting limited liability partnerships.

The PAOC plays an important role in the registration and oversight of public accountants. It has broad powers, including overseeing continuing professional education programs and assisting ACRA with the establishment of professional codes of conduct and ethics for public accountants.

Those who wish to qualify as accountants must meet several requirements, including: 

1. Completed the Singapore Chartered Accountant Qualification (SCAQ) or its equivalent 
2. Meet practical experience requirements
3. Fulfil the minimum number of CPE hours within a specific period 
4. Completed courses on Ethics and Professional Practice subjects 
5. Is a member of the Institute of Singapore Chartered Accountants (ISCA) and has been conferred with the Chartered Accountant of Singapore (CA (Singapore)) designation

The national accounting body, ISCA administers the SCAQ, which is the professional qualification pathway for individuals seeking to become Chartered Accountants of Singapore (CA (Singapore)).

The CPA Australia designation is recognised as meeting the qualification requirement for registration as public accountant under the Accountants Act. There is a mutual recognition agreement between CPA Australia and ISCA that sees members of one body being recognised by the other. 

Find out more about practising in Singapore

• How to register as a public accountant
• For CPA Australia members to become CA (Singapore)
• Applying for a financial adviser's licence
• Requirements to register as a tax adviser