Tuesday, 31 October 2017

How to Be a Chartered Accountant in Malaysia

Siti Eva Aman CA(M)

Alhamdulillah, alhamdulillah, alhamdulillah.. 
Just got the formal admission email from Malaysian Institute of Accountant (MIA). So now I'm a Chartered Accountant! 😁😁

Membership Routes
There are a few ways for you to become a Chartered Accountant under MIA. The easiest one is to graduate from local university with a Bachelor in Accounting (Hons) and gain 3 years of working experience (not including internship). 

The second route is by being a full member of accounting body (ie MICPA, ACCA, ICAEW, CPA, CIMA etc).

And the final route is catered for accounting, business and finance graduate; you will need to sit for the Qualifying Exam (QE). But accounting modules must be at least 60% of the total courses in your degree.

There are a total of 4 papers for the exam; 
  • Business and Company Law
  • Auditing
  • Taxation
  • Advanced Financial Accounting and Reporting
And each of the papers consist of workshops and final exam. 



Statistics


Currently, there are approximately 33,700 Chartered Accountant in Malaysia.

20,000 of them are professionally qualified (ACCA, ICAEW etc).
And out of these 20,000 only 8% is Bumiputera 🙇🙇

Of course, there's a lot of professionally qualified Bumiputera Accountant out there who doesn't bother to register with MIA but this organisation is the one used by the government as a yardstick. And at the moment, the goal is to have 60,000 registered accountant by 2020 which is almost double from the current tally. 

Of course, the push is for all the accountants to be professionally qualified [which at the moment, you can be Chartered Accountant without having ACCA etc certification via Route One].

And for you to be a practising Accountant in Malaysia, you MUST be registered with MIA.


Application Process



Technical Aspects of the Application

3 years working experience
Any employment period of less than 6 months or 'part time' experience will not be included towards the 36 months working experience. By that virtue, internship experience shall be excluded.

MIACare
Applicant will need to complete the CARE program online [documentation of working experience to be verified by mentors and supervisors].

Mentor MUST be an existing MIA member, in or out your organization (networking is vital!).
Supervisor can be anyone you are directly reporting to. 

With that being said, thank you Sir Azwan, Richard and Kak Balqis! 💕
You guys made this easier!!


Fees
Admission Fee - RM500
Annual Fee - RM350
Online Induction Course - RM180

Total - RM1,010 
[Check with your company whether this amount is reimbursable. Majority of companies will reimburse the fees in order to get you qualified]



So go get your membership if you're qualified. Fast!

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