HKICPA renews its Mutual Recognition Agreement with CPA Australia

Based on the new MRA, the HKICPA will continue to join hands with peer accounting professional body to cultivate top-tier talents for the accounting profession and foster its development.

The HKICPA has held MRA with CPAA since 2000, which widened the development opportunities for accounting professionals in Hong Kong. The new 5-year MRA between HKICPA and CPAA continues to enhance the professional development mobility of their members. HKICPA members completing the Qualification Programme (QP) of the HKICPA and having at least three years of relevant practical experience in accountancy, may apply for CPAA membership through the MRA. On the other hand, CPAA members completing CPAA's CPA Program and having at least three years of relevant practical experience in accountancy, may apply for HKICPA membership after completing the Institute's Aptitude Test in Hong Kong Taxation and the Capstone of the QP.

In addition, the new MRA has been enhanced in several aspects to ease the path for members of both professional bodies to gain professional qualifications offered by the HKICPA and CPAA. These enhancements include extending the eligibility for HKICPA membership by relaxing the geographical limitation on the origin of undergraduate degrees obtained by CPAA members, and removing the geographical restrictions on their completion of CPAA's CPA Program. The HKICPA believes that the enhanced MRA would attract more overseas accounting talents to seek qualification as HKICPA members and work in Hong Kong. Meanwhile, the geographical restriction on the completion of the QP by HKICPA members seeking CPAA membership has also been removed.

On last Friday (20 June), the HKICPA and CPAA held an MRA extension signing ceremony. The MRA was signed by Margaret Chan, Chief Executive and Registrar of HKICPA, and Rowena Buddee, Chief Member Experience Officer of CPAA, under the witness of Edward Au, President of HKICPA and Karina Wong, Divisional President of Greater China of CPAA.

HKICPA President Edward Au said, "We are delighted to continue our collaboration with CPAA, which reflects our commitment to nurturing high-quality professional talent for Hong Kong's accounting industry and advancing the development of the profession. This mutual recognition agreement provides our members with greater professional mobility and further supports them in achieving their professional goals. The HKICPA will continue to work hand in hand with professional accounting organizations to contribute to solidifying Hong Kong's position as an international financial center."

CPAA's Divisional President of Greater China Karina Wong said, "The MRA provides members of both professional bodies a streamlined pathway to take up each other's designation and further improve their career opportunities. Renewing this agreement for a fifth time also allows both organisations to continue delivering high-quality education programs that strengthen the technical capabilities of accounting, business and finance professionals all around the world. Forming and strengthening positive, collaborative relationships with professional accounting bodies is a priority for CPA Australia and we thank the Hong Kong Institute of Certified Public Accountants for many years of mutually beneficial commitment."

As one of the founding members of the Global Accounting Alliance (GAA), HKICPA has consistently engaged in exchanges with international accounting professions, and remains committed to upholding the international recognition of its membership. Including CPAA, the HKICPA holds mutual membership recognition agreements or mutual examination papers exemption agreements with 11 accounting bodies in the Mainland and overseas. In the future, the HKICPA will continue to expand its global network, explore potential collaborations with more overseas accounting bodies to facilitate exchanges and opportunities for new mutual recognition agreements for members.Hashtag: #HKICPA


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Hong Kong Institute of Certified Public Accountants

The Hong Kong Institute of Certified Public Accountants ("HKICPA") is the statutory body established by the Professional Accountants Ordinance responsible for the professional training and development of certified public accountants in Hong Kong. The Institute is also a standard setter of the local accounting industry. The Institute has over 47,000 members and about 12,000 registered students.

Our Qualification Programme assures the quality of entry into the profession, and we promulgate financial reporting, auditing, ethical and sustainability disclosure standards that safeguard Hong Kong's leadership as an international financial centre.

The CPA designation is a top qualification recognised globally. The Institute is a member of and actively contributes to the work of the Global Accounting Alliance and International Federation of Accountants.