HKICPA renews Mutual Recognition Agreement with CPA Australia

Both sides further enhanced connection by relaxing restrictions on exchanges.

Hong Kong Institute of Certified Public Accountants (HKICPA) renewed its Mutual Recognition Agreement (MRA) with CPA Australia (CPAA) on 20 June.

The new five-year MRA provides HKICPA members who have at least three years of accountancy relevance experience and completes a Qualification Programme to apply for CPAA membership.

Similarly, CPAA members who completed its CPA Program and have at least three years of relevant experience may apply for HKICPA membership. In addition, they need to complete the HKICPA's Aptitude Test in Hong Kong Taxation and the Capstone of the Qualification Programme.

Geographical restrictions for completion of CPAA's CPA Program and HKICPA’s programme were removed while CPAA membership requirements for undergraduate degrees were relaxed, easing the path for members of both professional bodies to gain qualifications.

As one of the founding members of the Global Accounting Alliance, HKICPA holds mutual relationships with 11 accounting bodies in the world. The MRA with CPAA has been held since 2000.