HKICPA and ACCA renew mutual recognition agreement

The Hong Kong Institute for Accredited General Accountants (HKICPA) renewed the mutual recognition agreement (MRA) with the Association of Public Accredit Accountants (ACCA).

The partnership has supported the job development of Hong Kong accounting professionals since 2000.

It aims to enhance the growth of the accounting sector by providing mobility and enhanced professional development opportunities.

The new MRA, which has been appointed for three years, allows the HKICPA members who have completed the QP program (QP) and gained at least three years of practical experience to obtain ACCA membership.

On the contrary, ACCA members who have passed their professional exams in the UK or Hong Kong, including the specific advanced units, and have three years of practical experience, can apply for HKICPA membership after passing QP coronation.

The updated agreement simplifies the ACCA members to obtain a CPA assignment from HKICPA.

It extends to eligibility to ACCA members with a degree with a qualification equivalent to a higher diploma or a common degree under the Hong Kong Rehabilitation Framework, provided that they meet the relevant conditions.

Hkicpa expects that improved MRA will attract more talented individuals from various backgrounds to the accounting profession in Hong Kong and follow up on the appointment of CPA.

“MRA provides simplified tracks for both organizations to obtain professional qualifications from each other, thus enhancing the transfer of their career life. Work along with other professional accounting organizations to attract talents from various academic backgrounds, build a stronger group of talents, lead the continuous progress of the accounting profession,” said the president of Hkicpa Edward Ou.

“With more than 120 years of world heritage and heritage that lasted 75 years in Hong Kong, ACCA has constantly shown to redefine the accountant through times of change. In response to advanced needs and community expectations, ACC will provide a qualified qualification in 2027. Society.

As a founding member of the Global Alliance for Accounting (GAA), Hkicpa focuses on maintaining international recognition of its membership and participating in exchanges with international accounting professions.