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Qualified with a UK accounting professional qualification not recognised in Malaysia

Qualified with a UK accounting professional...

I hold a UK recognised accounting qualification for many years. Unfortunately, my qualification is not recognised in Malaysia, my home country.

I was told many times over many years that there are people pursuing the recognition of my qualification but all they kept saying is promises and promising statements but no promises delivered so far.

In the last AGM held by the local alumni for this UK body, there was again promises made that recognition by the national regulatory body will be delivered within three to six months time. Now, one year and almost two months has passed, where is that deservedly recognition? No where in sight.

Last year, a group of probably disgruntled members took up suit case against the regulatory body over the delay in evaluating their qualification for eligibility to sit the qualifying examination of the regulatory body. This group failed. After which was quietness, no appeal.

Of late, there is confirmations handed down by the regulatory body that holders of this recognised UK accounting qualification can sit the qualifying examinations of the regulatory body. This is a chance now for those holding this UK unrecognised qualification in Malaysia.

The question is why is the alumni body or its UK parent body keeping quiet over this acceptance of its qualification by the regulatory body in Malaysia? Don't the parent body in UK like to see its members graduate in Malaysia and become full-fledged accountants rather than retire a slow-suffering frustrated and angry days numbered?

Without membership of the regulatory body in Malaysia, one cannot be called an "accountant" and we are law abiding Malaysian citizens holding that UK recognised accounting qualifications.

What can members alike me do now? Take legal action again? Against the parent body for not showing enough support?

I do share the mindfullness of concerned really helpful people around. There are many who said why not the regulatory body just recognised this qualification when it has met the accounting degree standards of British Universities? This would just solved all the issues surounding it.

Many members of this body is also getting old. We aged daily and we get not to be called "accountants", "financial managers", "financial controllers" or any other term related or associated with "accountant" that could mislead one to believe he is a member of the national regulatory body.

If not for those advise that recognition is coming in the near future, a big number would have left this body and joined the recognised bodies like CIMA, ACCA, etc which would have solved the problems of being unable to be called "accountant" in Malaysia.

Sad sad story to tell.

Professional advise would be much appreciated.

Thank You.

Qualified accountant's distress

Replies

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22nd Nov 2004 06:51

Is it confirmed announcement in 28 Nov 2004 convocation that AIA
Can any alumni member of AIA Malaysia confirm that AIA has been recognised by ICAEW for direct membership without further examination just like HKICPA members get admitted to ICAEW without restrictions and conditions?

Will this be announced in the coming 28 Nov 2004 convocation at the Grand Plaza Hotel in its Park Royal ballroom?

I want short cut direct admission to ICAEW via the AIA and then forget about AIA membership because I don't benefit by being AIA member. ICAEW benefits are far much better and greater than AIA.

I believe all Malaysian AIA members will follow my good example and AIA will have no more members in Malaysia but only students. These student will also follow my foot steps by joiningg ICAEW after obtaining AIA membership and join ICAEW membership.

Unless AIA tell me that they are offering good benefits like ICAEW, then I may think twice maintaining AIA membership. What do other AIA members think?

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19th Oct 2004 03:10

AIA got every reason to celebrate with this achievement
Tho Me Lee , 19th-October
AIA has good reason to celebrate with this news
James Wang , 18th October 2004
Entry into CA training
No worry AIA member, the English CA Mill might have considering AIA members to go straight into ICAEW Associate same as HKICPA, then there isn't any need to write any examinations.
--------------------------------------------------------------------------------
AIA member very WORRIED now , 18th October 2004
ABE and IFA are recognised by ICAEW
These two bodies make AIA members very much more worried about themselves now. AIA can sit ICAEW exams or not or cannot? Can ICAEW examination council chief tell us or AIA uk please?

--------------------------------------------------------------------------------
AIA member very WORRIED now , 18th October 2004
AIA to ICAEW pathway "lost"?
If you surf ""http://www.icaew.co.uk/careers/index.cfm?AUB=TB2I_69902,MNXI_69902 exemptions for UK bodies
http://www.icaew.co.uk/careers/index.cfm?AUB=TB2I_69904,MNXI_69904""

and can't find AIA qualification in it, do you you worry a little, a bit little worried, worried, much worried, very worried, or very much worried?

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05th Oct 2004 05:17

CFA and CA - for better if merged?
Prof Toddlings , 5-Oct-2004
Would there be MRA between CFA(SA) and CA(SA) or merger?
Consider this, what if CFA(SA) got the offer to merge with CA(SA)? What would ICAEW think? Better? Because there is more members?
"Prof Toddlings , 5th October 2004
CFA(SA) and NIA
Now that the change of name of CFA(SA) to CPA(SA) is more or less confirmed, I would be interested to see how the new brand CPA(SA) would progress onwards.
Brand name do create a stimulus for change for the better .... or the worse. That all depends on how the CEO would spearhead his operations. In CFA(SA)'s case, the designate CPA(SA) is certainly better sounding than CFA (SA) (some thought it to be Chartered Financial Analyst (USA)).

I would also wonder how CA(SA) think about this change. Certainly, it didn't object to CFA(SA)'s name change, otherwise, the process would not have been successful.

The world shall see only two major designates - CA and CPA. Let's see how CPA and CA fare in South Africa.

CFA(SA) has MRA with NIA Australia. We shall soon see how things could developed further between the two.

By the way, how is the NIA Strategic Plans going on in Malaysia? Lots of news have been said about NIA much earlier. I would like to know its progress and has it achieved its strategic goals by now in Malaysia? NIA seemed to have cut-off the MRA with the Inst of Cooperative and Management Accountants in Malaysia, a move best told by NIA's CEO to explain it here. NIA CEO, and NIA Malaysia, are you listening?"

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13th Sep 2004 10:22

From the AIA E-News
Dato' Johan Raslan is a ICAEW qualified/member.

This is extracted from the AIA E-News :

"DATO’ JOHAN RASLAN APPOINTED CHAIRMAN OF THE FINANCIAL REPORTING FOUNDATION
Friday, July 11 2003, 09:58

The Finance Minister II has appointed Dato' Johan Raslan as the new chairman of the Financial Reporting Foundation (FRF) for a three-year term from 1 July 2003 until 30 June 2006.

.......

Dato' Johan holds an honours degree in Economics and Accounting from the United Kingdom. He is a member of the Malaysian Institute of Accountants (MIA) and the Malaysian Institute of Certified Public Accountants (MICPA). He sits on the board of the Labuan International Financial Exchange Inc. (LFX Inc.), an offshore exchange wholly owned by the Kuala Lumpur Stock Exchange and is also a member of the KLSE Rules and Development Sub-Committee. Dato' Johan is also a member of the Board of Trustees of Yayasan Tun Suffian and is an Eisenhower Fellow. Earlier, the Minister of Finance appointed Dato’ Zainal Abidin bin Putih as Chairman of the Malaysian Accounting Standards Board."

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09th Sep 2004 08:22

Just what is ACCA waiting for now, I don't understand
I just don't understand ACCA's attitude towards the issue of HKCPA. Isn't it likened to "crying over spilt milk"?

There are many golden opportunities opened to ACCA right now.

ACCA can form alliances with AIA, CPA(A) and CIPFA.

These formation will enable ACCA to speak with a louder voice than before.

The formation will have more than 200,000 members' voice and a much stronger strategic alliance to oppose.

Isn't such an excellent alliance at work?

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06th Sep 2004 03:32

I thought this might be usefully served
I wrote this on another website thread of this forum.

".....AIA UK the much deservedly right to a funeral possession in Malaysia for not doing anything for its AIA Malaysia members as AIA members can now write the MIA QE. I do agree with a lot of AIA members that patience has died out in the pursuit for MIA recognition. So what's more? MIA QE lahh laahhh lahhhaahhhah hahaha.......and the "demise" of AIA in Malaysia, that is why AIA UK finally decided to spend its AIA Members' subscription money to travel to Malaysia to hold DIALOGUE with its AIA Malaysia members on 6 th September 2004 at Putra World Trade Centrer and WOW WOW WOW what a larvish place to hold such long long long ago much desired DIALOGUE. Is this professional or not ???"

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09th Sep 2004 04:45

Equal misery?

The Hong Kong Institute of Certified Public Accountants (HKICPA), formerly known as the Hong Kong Society of Accountants, defended its plan to end its recognition of certification with accounting bodies, saying the move is intended to uphold the standards and uniformity of its members.

The accounting group, the sole statutory licensing body for CPAs in Hong Kong, will no longer recognise certifications from ACCA, CPA(A), AIA, AICPA, CIMA, and CIPFA starting next July.

This means students who have passed their examinations with these bodies will not be eligible for HKICPA membership, which is a prerequisite for accountants to sign off on a financial statement in Hong Kong. Existing members who are also HKICPA members will not be affected.

But the HKICPA will still recognise certifications from these bodies if they pass its new evaluation and assessment.


The revamp has drawn heavy criticism from the profession because it would affect thousands of existing accounting students and accountants who are not yet chartered.

Among them, ACCA has been the most vocal. The UK-based accounting body, which has been working with the HKICPA for two decades, described the termination as like ``stabbing an old friend in the back''.

We ``find this behaviour to be unprofessional and highly regrettable, given the spirit of co-operation which has existed between our two bodies for 20 years,'' ACCA chief executive Allen Blewitt said in a letter sent to its 16,000 members on August 26.

He said ACCA had consulted its legal advisers about the situation and believed there were strong grounds for challenging the HKICPA's decision.

Commenting on ACCA's strong reaction, an informed regulatory source said: ``It's all about money.''

``ACCA will lose lots of money from its education programmes if its qualifications are not recognised by the HKICPA and students may not be keen to get the ACCA qualification.''

In response to ACCA's concern, HKICPA president Roger Best told reporters on Wednesday that it desired to continue its relationship with the ACCA but that the revamp is in Hong Kong's best interest.

We need CPAs to ``have a relatively consistent academic and professional background in terms of education and training'', Best said.

He added that the HKICPA has scheduled a meeting with Blewitt on September 21 to resolve the issue.

According to HKICPA chief executive Winnie Cheung, the entry requirements for the seven bodies vary. For example, ACCA accepts non-degree holders for its programme, while HKICPA does not.

Marcellus Wong, president of CPA Australia's Hong Kong China division, said he was confident the issue would be resolved.

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06th Sep 2004 06:21

All other frustrated idiots
True or not ?? " As a membership organisation the Association values its members and students opinions and believes that this meeting will allow them to express their views on all areas of the profession. "

Why so much complaints by members over no replies, they still keep quiet? Why all these nonsence? maybe, they are the biggest idiots of all idiots in this whole universe.

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07th Sep 2004 06:57

Forget about others, you "idiots"
Look at what I posted on another thread "Prof TOTs (Sr) PhD MBA CA , 7th September 2004
Certainly the heat is on ACCA but caused by AIA
Soon, many many AIA members in Malaysia shall sit for the MIA QE examinations.
Many years back, AIA members were eyeing the ACCA examinations but unfortunately ACCA does not grant a single paper exemptions to AIA holders, not even ACCA's first financial accounting paper for its home country DTI recognised qaulification. What a funny thinking and decision on exemptions! So, it appeared to the world that ACCA's first financial accounting paper is higher standard than AIA's final financial accounting III paper which offers no exemption to even PhD holders like I. Is this fair, true and just to do so?

Fortunately, (not unfortunately now) ACCA continued to grant NO EXEMPTION to AIA members, thus, it is just right and fortunate for AIA members to join the MIA QE examinations of four papers which it deserves.

Ain't the heat is on ACCA now because of AIA.

To ACCA, you better grant 12 out of 14 paper exemptions to AIA members in order to beat the MIA QE offer of 4 papers.

Let's say the papers Corporate Financial Reporting and Management papers at final part of ACCA be offered to AIA members from now on. If more than that, no AIA members would sit the ACCA examinations.

AIA - make your wisest choice, so should ACCA make its wisest choice so that the heat is not on ACCA anymore. ACCA's wise choice will grab the AIA market in Malaysia and its members shall forget about AIA UK because they make the wisest choice of joining ACCA to sit the final 2 papers."

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08th Sep 2004 12:34

Sorry, Prof TOTs (Sr)
Please accept my humble apologise; I have got confused as there are many professors here making contributions to the topic.

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By Anonymous
18th Aug 2004 13:50

Not bad la
Hoorah AIA Malaysia members can finally sit for MIA QE for qualifying as accountant in Malaysia, it's a great achievement la. On the contrary, HKSA or HKCPA is still awaiting for good news about reciprocal recognition from Chinese CPA under CEPA arrangement. Or ICAEW is sitting alongside with HKSA looking out for good news from China Oh.

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07th Sep 2004 12:31

MIA
Prof Toddlings, you are right that ACCA may be a bit short-sighted and it should entrench its position in Malaysia by giving more exemptions to AIA members as a measure to combat ICAEW's allies in Malaysia.

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18th Aug 2004 07:38

Approaches to look at
Legal point - sue who and who
Social point - what employers think if you lose the suit
Political point - can some MPs help out to get the qualification recognised?
Technical point - any problems with that qualification? any defects rendering it not recognised by the regulatory body after such a long time?
Economic point - is it a viable qualification in Malaysia? since it is not recognised. If not viable, forget it and don't pay any more fees to them and hold an EGM to tell all members in Malaysia to forget it

Why is the parent body in UK not informing Malaysian graduates about the acceptance of your qualification for the qualifying examination of the regulatory body? Any reasons given?

It sounds more like the parent body is afraid that they will lose all its members in Malaysia because its members will not pay annual subscriptions to UK anymore due to no recognition if the members start to do the QE course - does this make sense to all readers?

It is also like why bother to pay two fees and why bother about the parent body in UK who don't care to inform Malaysian members about developments or undevelopments like NO RECOGNITION instead kept quiet?

I think the point is one of selfishness here.

Just who are the councilmen of the UK body? Hold an EGM and boot them out of power.

Who is their CEO anyway? And other directors or do dos who did not do their dos? Petition an EGM to have them replaced too.

Does the above make sense or not?

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By Anonymous
08th Sep 2004 15:34

Who care
ACCA sees thing much deeper and further than you can imagine. Who care about people looking for short cuts with no actual abilities? If you want to become ACCA, then take the proper steps.

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19th Aug 2004 08:10

Join MICPA, ICMA or ICIA Malaysia
I understand that besides the Malaysian Institute of Accountants (MIA), there are other local Malaysian Accountancy bodies where they are "legally" incorporated as Accountany bodies namely:

1) Malaysian Inst of CPA (www.micpa.com.my)
2) Inst of Cooperative & Management Accountants Malaysia (www.ica.com.my)
3) Inst of Commercial & Industrial Accountants Malaysia (www.iciamy.org)

These organisations recognised accountants from UK where they offer attractive exemptions or even direct admission.

You might want to contact these bodies for more information.

Gopal Krishnan

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19th Aug 2004 03:53

S Cheung
"Not??? very Bad lah" - if you are talking about the MIA QE, the pass rate was 2 or 3 %, probably worse than the actuary examinations of USA. (USA actuary examinations - once you passed, you are being hunted by insurance companies to be their actuary, you don't need to look for jobs, co hunt you down. Pass rate very very low too, I heard).

The point here is for members of that UK Professional body to question all its executive councilmen why they are not bothered to inform its members of this opportunity of a lifetime? Its members waited very very long to hope for something good to happen. White hair grew on their head already, some are semi-bald and some got few hair left as I was told and when they passed the examinations, they are probably heading for retirement for good and bid goodbye to figures and facts accounting. Now that it happened, no one from the executive council of this UK body bothered about it. Do you think they are "still going to get recognised?"

Patience must have run out on them.

The approval of these members are not all in one go. They approved it slowly, but why slowly? Let them all go and show the world that they are the BEST in quality, experience, capability, skills, knowledge and attitude. Since its members talk so much of their pretigious qualities, prestigious capabilities, great heightened knowledge comparable to ICAEW, invaluable experience comparable to recognised bodies but "backed up" by the kind of experience equating to those NON-RECOGNISED bodies' members (after all, they are not recognised, how can they get to do equivalent level jobs as those recognised ones), etc etc like above par excellence and never at mediocrity levels.

Good Luck them, I wish them all.


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08th Sep 2004 09:21

Vincent Ng, don't grab my stuff and credit others
You are also short-sighted too. I am Prof TOTs (Sr), not Prof Toddlings. Please wear you glasses right away to see clearer before you spell wrong legal words and facts and figures that land you to jail.

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19th Aug 2004 09:22

Gopal Krishnan
Thanks for highlighting those three other accountancy bodies in Malaysia.

I am aware of MICPA and they grant only very few paper exemptions to UK non-RSB bodies. For instance, IFA is not listed in its exemption list nor is the IComA which was merged with AIA last year. Even the ICEA is also not in their list too.

The ICIA, though long enough establised, does not hold examinations as far as I know. A good number of their members are via ICEA, IFA. What good and strength does this do to a professional body? This proves that ICIA just can't march forward without quality members. (Just off-track a bit to prove my point said in another thread - This proves that I am right to say that a recognised body like AIA should not merge or takeover IFA as this will certainly dilute the quality of AIA members).

Are the council members of ICIA out-of-date? Look at the following subjects offered :

Level 1 - Business Calculations
Level 3 - Principles of Marketing and Principles of Malaysian Tax
Level 4 - The Regulatory Framework for Finance and Accounting

The persons who wrote the 16 paper subjects of ICIA certainly :

a) lacks direly in foresight and planning of commercial and industrial accounting subjects
b) is not qualified to be a Certified Commercial and Industrial Accountants
c) did not consider the importance of management & strategy contents such as corporate governance or is he not trained in enterprise governance
d) did not consider the standard and quality its ICIA graduates could fare when they were to compete with professional graduates from CIMA, AIA, ACCA, etc
e) insuffient in syllabus content such as corporate financial reporting, company tax as these subjects are not spelt clearly

The list to justify the inadequately trained ICIA member based on its established syllabus to face today's challenging needs of a full-fledge accountant, be it in Malaysia or overseas is certainly very long.

My advise to ICIA would be to please evaluate its syllabus and amend according to today's accountant's needs. How can a Certified Commercial and Industrial Accountants achieve anything out of studying Business Calculations? Such is an ancient subjects found in the pre-historic CA syllabus. I am sorry to say that I would certainly not recommend such a qualification to anyone to sit.

Gopal, has the website of Inst of Cooperative and Management Accountants changed? I just can't sign in.

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20th Aug 2004 08:21

Do you mean AIA?

If yes, AIA will be bad again as maybe phasing out the recognition from HK Institute of Certified Public Accountants (Hong Kong Society of Accountants) after 30/6/05.

MIA is very wise not to recognise AIA since 1994.

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23rd Aug 2004 08:14

ICMA Malaysia examination must take off fast
Inst of Co-operative and Management Accountants, Malaysia (ICMAM)'s examination must take off fast in view of the dire need of qualified accountants in Malaysia.

MIA QE only produce a notable passes of 2 person so far. How can this meet the country's year 2020 need of 60,000 accountants?

If MIA don't do anything to meet this country's needs, Malaysia will fall behind in its developments in accounting, auditing, taxation and financial and risk management needs.

I believe ICMAM can do the job correctly. With MIA's QE entrance being so rigid and so slowly processed for AIA graduates, what's more can we say? But to encourage ICMAM to take off its qualifying exam fast in view of the country's needs.

ICMAM can serve the country just like CMA Canada. ICMA is a co-operative accounting/auditing body as well as a management accounting body. ICMAM is recognised as auditors in the co-operative field recognised by the government. So, what is it that is stopping ICMAM from taking off its qualifying exam in meeting the country's need. I don't understand the delay by ICMAM.

I urge ICMAM to take off its exam fast and not be bothered by any unnecessary stories said by others. It is an opportunity for ICMAM to produce its numbers through its very own exams and very own quality.

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17th Jan 2007 04:34

Consider CIMA option too
Since CIMA is the smaller of the UK accountancy bodies in Malaysia, how about CIMA offering its final three papers to AIA members who passed its final exams? This offer shall not be extended to AIA members who obtained their membership without passing the final four papers.

I don't see any reasons for not granting the final three papers of CIMA to AIA members. If the AIA members are not in anyway "qualified" for the earlier CIMA exemptions, then these AIA members shall fail badly.

What I suggest would be this - publish a column on AIA members taking the CIMA final three papers and show their marks obtained and papers passed for the information of AIA critics.

Fair enough?

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