What is ASEAN CPA?
Sources: https://aseancpa.org/what-is-an-aseancpa/
With business services like accountancy being an important part of economies and trade, the liberalisation of trade in services will help ASEAN to achieve the objective to transform ASEAN into a single market and production base that will allow the ASEAN member states (AMS) to enjoy free movement of goods, services and investment, as well as benefit from smoother flow of capital and skilled labour.
The mobility of accountants within the region is facilitated by the Mutual Recognition Arrangement on Accountancy Services (MRAA) which was signed by all 10 ASEAN member states in 2014.
The objectives of the MRAA are as follows:
Under the MRAA, a professional accountant who is an ASEAN national and possesses the necessary qualifications and experiences that comply with the MRAA may apply to be an ASEAN Chartered Professional Accountant (ASEAN CPA). ASEAN CPAs are legally allowed to provide accountancy services under Central Product Classification (CPC) 862 of the United Nations (except for the signing-off of the independent auditor’s report and providing accountancy services that require domestic licensing) in ASEAN markets without having to undergo extensive re-training or re-qualification procedures.
An ASEAN CPA who wishes to provide professional accountancy services in another ASEAN country shall apply directly to the National Accountancy Body (NAB) and/or Professional Regulatory Authority (PRA) of that country (also known as “Host Country”) to be registered as a Registered Foreign Professional Accountant (RFPA). An RFPA will have to work in collaboration with a local professional accountant in the Host Country and agrees to be bound by the domestic laws and regulations of the Host Country. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) is now in discussion on the RFPA registration process and more details will be released soon.
With business services like accountancy being an important part of economies and trade, the liberalisation of trade in services will help ASEAN to achieve the objective to transform ASEAN into a single market and production base that will allow the ASEAN member states (AMS) to enjoy free movement of goods, services and investment, as well as benefit from smoother flow of capital and skilled labour.
The mobility of accountants within the region is facilitated by the Mutual Recognition Arrangement on Accountancy Services (MRAA) which was signed by all 10 ASEAN member states in 2014.
The objectives of the MRAA are as follows:
- Facilitate mobility of accountancy services professionals across ASEAN;
- Enhance the current regime for the provision of accountancy services in the AMS;
- Exchange information in order to promote adoption of best practices on standards and qualifications.
Under the MRAA, a professional accountant who is an ASEAN national and possesses the necessary qualifications and experiences that comply with the MRAA may apply to be an ASEAN Chartered Professional Accountant (ASEAN CPA). ASEAN CPAs are legally allowed to provide accountancy services under Central Product Classification (CPC) 862 of the United Nations (except for the signing-off of the independent auditor’s report and providing accountancy services that require domestic licensing) in ASEAN markets without having to undergo extensive re-training or re-qualification procedures.
An ASEAN CPA who wishes to provide professional accountancy services in another ASEAN country shall apply directly to the National Accountancy Body (NAB) and/or Professional Regulatory Authority (PRA) of that country (also known as “Host Country”) to be registered as a Registered Foreign Professional Accountant (RFPA). An RFPA will have to work in collaboration with a local professional accountant in the Host Country and agrees to be bound by the domestic laws and regulations of the Host Country. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) is now in discussion on the RFPA registration process and more details will be released soon.
Why Should I Apply to be an ASEAN CPA?
Sources: https://aseancpa.org/why-should-i-apply-aseancpa/
ASEAN is one of the world’s fastest-growing emerging markets and with the scheme to integrate the economy through the free flow of goods and services will broaden the opportunity to do business in ASEAN. The title of ASEAN CPA is exclusively only for the ASEAN member state, and it gives the new meaning for the accountancy profession. Thanks to the Mutual Recognition Arrangement on Accountancy services, it allows professional accountants in ASEAN member states to get credential that will validate their knowledge and expertise in the accountancy field and provide them more opportunities through greater access to the high-growth ASEAN market.
Align with the objective of the Mutual Recognition Framework, the ASEAN CPA holder will have sufficient exchange information among Accountant Professionals in the ASEAN region. Meanwhile, the ability to exchange data and knowledge among the ASEAN CPA holder will also promote the development of the best practices on standards and qualifications in the accountancy profession.
ASEAN is one of the world’s fastest-growing emerging markets and with the scheme to integrate the economy through the free flow of goods and services will broaden the opportunity to do business in ASEAN. The title of ASEAN CPA is exclusively only for the ASEAN member state, and it gives the new meaning for the accountancy profession. Thanks to the Mutual Recognition Arrangement on Accountancy services, it allows professional accountants in ASEAN member states to get credential that will validate their knowledge and expertise in the accountancy field and provide them more opportunities through greater access to the high-growth ASEAN market.
Align with the objective of the Mutual Recognition Framework, the ASEAN CPA holder will have sufficient exchange information among Accountant Professionals in the ASEAN region. Meanwhile, the ability to exchange data and knowledge among the ASEAN CPA holder will also promote the development of the best practices on standards and qualifications in the accountancy profession.
Qualification to Become an ASEAN CPA
Sources: https://aseancpa.org/aseancpa-qualification/
A professional accountant who meets the qualifications, practical experience and conditions is eligible to apply to be an ASEAN Chartered Professional Accountant (CPA) on the ASEAN Chartered Professional Accountant Register.
1. Holds the nationality of an ASEAN country
2. Has completed an accredited accountancy degree or professional accountancy examination programme recognised by the National Accountancy Body (NAB) and/or Professional Regulatory Authority (PRA) of the Country of Origin or Host Country, or has been assessed and recognised by the NAB and/or PRA as having the equivalent of such a degree
3. Possesses a current and valid professional registration certificate in the Country of Origin issued by the NAB or PRA, of that Country of Origin and in accordance with its policy on the registration, licensing and/or certification of the practice of accountancy
4. Has acquired relevant practical experience of minimum three (3) years cumulatively within any five (5) year period prior to application
5. Has complied with the Continuing Professional Development (CPD) policy of the Country of Origin, and
6. Has no record of serious violation of technical, professional or ethical standards
A professional accountant who meets the qualifications, practical experience and conditions is eligible to apply to be an ASEAN Chartered Professional Accountant (CPA) on the ASEAN Chartered Professional Accountant Register.
1. Holds the nationality of an ASEAN country
2. Has completed an accredited accountancy degree or professional accountancy examination programme recognised by the National Accountancy Body (NAB) and/or Professional Regulatory Authority (PRA) of the Country of Origin or Host Country, or has been assessed and recognised by the NAB and/or PRA as having the equivalent of such a degree
3. Possesses a current and valid professional registration certificate in the Country of Origin issued by the NAB or PRA, of that Country of Origin and in accordance with its policy on the registration, licensing and/or certification of the practice of accountancy
4. Has acquired relevant practical experience of minimum three (3) years cumulatively within any five (5) year period prior to application
5. Has complied with the Continuing Professional Development (CPD) policy of the Country of Origin, and
6. Has no record of serious violation of technical, professional or ethical standards
Legend
• NAB: National Accountancy Body
• PRA: Professional Regulatory Authority
• NMC: National Monitoring Committee
• ACPACC: ASEAN Chartered Professional Accountant Coordinating Committee
For further information on the ASEAN CPA requirements for each country, please refer to
the ASEAN Member States pages.
NAB: National Accountancy Body for Lao PDR is Lao Chamber of Professional Accountants and Auditors (LCPAA)
PRA: Professional Regulatory Authority for Lao PDR is the Ministry of Finance (Accounting Regulatory Department)
• NAB: National Accountancy Body
• PRA: Professional Regulatory Authority
• NMC: National Monitoring Committee
• ACPACC: ASEAN Chartered Professional Accountant Coordinating Committee
For further information on the ASEAN CPA requirements for each country, please refer to
the ASEAN Member States pages.
NAB: National Accountancy Body for Lao PDR is Lao Chamber of Professional Accountants and Auditors (LCPAA)
PRA: Professional Regulatory Authority for Lao PDR is the Ministry of Finance (Accounting Regulatory Department)
For Lao professional accountants would like to register as ASEAN CPA or foreign accountants would like to register as RFPA (Registered Foreign Professional Accountant), please apply below
Application forms and Fee
Fee for Lao CPA to become ASEAN CPA
1. Application Fees: 100 USD
2. Annual Fees: 50 USD
Fee for foreign CPA to become Registered Foreign Professional Accountant (RFPA)
1. Application Fees: 200 USD
2. Annual Fees: 200 USD
1. Application Fees: 100 USD
2. Annual Fees: 50 USD
Fee for foreign CPA to become Registered Foreign Professional Accountant (RFPA)
1. Application Fees: 200 USD
2. Annual Fees: 200 USD
Application forms to become ASEAN CPA
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1. Notice on application for ASEAN CPA
2. Request form - Lao version for Lao professional accountants 3. Application form - for both Lao and foreign professional accountants | ||||||