HKICPA renews its Mutual Recognition Agreement with ACCA

The two accounting bodies continue to join hands together to pave ways for career development of the accounting talents in Hong Kong, with the aim to foster the development of the accounting profession.

The HKICPA has held MRA with ACCA since 2000. The new MRA is for a term of three years, continuing to enhance the professional development mobility of members of both bodies, further expanding their professional development opportunities. HKICPA members completing the Qualification Programme (QP) and obtaining at least three years of practical experience may acquire ACCA membership through the agreement. On the other hand, ACCA members who have completed ACCA professional examinations in the United Kingdom or Hong Kong (Including the Advanced Audit and Assurance and Advanced Taxation (Hong Kong) examinations) and having at least three years of practical experience, may apply for HKICPA membership after having passed the Capstone of the QP.

The new MRA has been enhanced to ease the path for ACCA members to gain the CPA designation offered by the HKICPA. Under the new MRA, the eligibility for seeking HKICPA membership will be extended to ACCA members who are non-degree holders possessing a qualification at a level not lower than higher diploma/ associate degree (or equivalent) under the Hong Kong Qualification Framework, and fulfilling relevant conditions. The HKICPA believes that the enhanced MRA would attract more talented individuals from various disciplines to join the professional field of Hong Kong accountants and obtain the CPA designation.

HKICPA President Edward Au said, "We are delighted to renew the MRA with the ACCA. The MRA provides simplified pathways for members of both organizations to obtain professional qualifications from each other, thereby enhancing their career mobility. Furthermore, the synergies created by the co-operations between HKICPA and ACCA enable us to provide advanced support to the development of the accounting profession in Hong Kong, benefiting businesses as well as Hong Kong economy as a whole. HKICPA will continue to work hand in hand with other professional accounting organizations to attract talent from diverse academic backgrounds, build a stronger talent pool, and drive the continuous advancement of the accounting profession."

ACCA Hong Kong Chairman Stanley Ho said, "We welcome the enhanced MRA, which offers greater flexibility for membership mobility between the two bodies, reflecting our shared commitment to empowering career opportunities and advancing the profession. With over 120 years of global legacy and a proud 75-year heritage rooted in Hong Kong, ACCA has consistently demonstrated leadership in redefining the accountant through times of change. In response to the evolving needs and expectations of society, ACCA will introduce a redesigned qualification in 2027. We look forward to working closely with HKICPA to drive sustainable growth for the profession and the wider community."

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 ACCA, 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.

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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.