Welcome

Welcome to Myanmar Institute of Certified Public Accountants Website.

Myanmar Institute of Certified Public Accountants, MICPA (မြန်မာနိုင်ငံ လက်မှတ်ရ ပြည်သူ့စာရင်းကိုင်များအသင်း) is the National Accountancy Body (the only national Professional Accountancy Organization) in Myanmar. CPA (full-fledged) is the only one Professional Designation that is allowed by the Myanmar Accountancy Council (MAC) to sign off audit reports. Members of MICPA are only CPAs until the beginning of 2020, with the new Constitution, adopted on 15 December 2019 on the Special General Meeting of MICPA, intending to take more accounting professionals and students into its membership from the financial year 2020-2021 onwards. As of March 2020, it has more than 1000 members and about 700 are professional accountants in public practice (PAPPs) and the rest are professional accountants in business (PAIBs).

MICPA’s mandate

The Myanmar Institute of Certified Public Accountants (MICPA) is the Professional Accountancy Organization (PAO) established as a not-for-profit organization under the Myanmar Companies Act 1914 to regulate the Accounting profession in Myanmar (registration number 5167/2013-2014).

The Institute operates in the public interest and has wide-ranging responsibilities, including acting as a key adviser to government, driving compliance with international standards, ensuring CPA members keep pace with the latest developments and other tasks delegated to it by the regulator – MAC.

Vision and Mission

Our vision is to be a globally recognized, relevant, reliable, respected and authoritative professional accountancy organization of Myanmar and our mission is to enhance the success, influence and value of the Myanmar accountancy profession by acting in the public interest, delivering value to the public and private sectors and society and ensuring recognition for MICPA and its members regionally and internationally through adopting and enforcing international standards supported by a robust governance and compliance infrastructure.

MICPA Values

  • Integrity: to be objective, reliable, accountable, responsible and truthful in all we do.
  • Excellence: to empower to achieve the highest level of standards and execute tasks with competence and due care that is expected.
  • Observance: to be compliant with all the ethical and professional codes of the accounting profession
  • Collaboration: to support, share and work together to achieve success and goals.
  • Lifelong learning: to keep pace with the latest developments in business practice, government and the accountancy profession.

MICPA Objectives

  • To be a sustainable organization: the Institute will ensure its long-term recognition, sustainability and financial viability;
  • To be relevant to the market: the Institute will build its membership and demonstrate the value of a professional, ethical PAO;
  • To deliver member value and be recognized as a key authority; and
  • To ensure professionalism by driving compliance with international standards.

MICPA’s IFAC Membership Application

MICPA-ACCA-IFAC PAO Capacity Building Project: “This project will contribute to Myanmar’s ongoing economic reform in line with the new government’s policy of liberalization, which includes modernizing the accountancy profession,” said Joseph Bryson, IFAC Director, Quality and Development. IFAC (International Federation of Accountants) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

Recognizing the critical role that the accountancy profession can play for the economic growth of a country, a central project goal is to support the national accountancy body of Myanmar (MICPA) with the preparation of a IFAC membership package during the project term. IFAC membership is a globally recognized hallmark of a high-quality Professional Accountancy Organization (PAO) and by means of IFAC membership, MICPA shall demonstrate not only its own credibility and capacity but also the competence and capabilities of its individual members.

IFAC has selected the Association of Chartered Certified Accountants (ACCA) to partner with MICPA on this capacity building project. With the technical support of ACCA, MICPA has developed a new strategy and detailed implementation plan covering the period from 2019 to 2023, and has revised the new Constitution embedding the new governance structure which is based on the IFAC 12 principles of good governance. This new Constitution was approved by its members at the Annual General Meeting held on December 15, 2019.

In addition to the strategy and the new governance structure, MICPA has developed an IFAC Action Plan addressing IFAC Statements of Membership Obligations (SMOs) which are Quality Assurance, International Education Standards, International Auditing Standards, IFAC Code of Ethics, Public Sector Accounting Standards, Investigation and Disciplinary mechanism and International Financial Reporting Standards. Through its IFAC Action Plan, MICPA plans to support the IFAC mission by promoting the adoption and implementation of international standards and sharing the successes and challenges experienced in Myanmar with the international community.

As a precondition of an IFAC membership application, two IFAC member organizations in good standing - Association of Chartered Certified Accountants (ACCA) & Institute of Singapore Chartered Accountants (ISCA) sponsored our application by providing their respective due diligence reports. With all the requirements for the membership application addressed, MICPA submitted a “membership application package” in December 2019 and is hopeful of achieving the IFAC Associate Membership in the very near future.

MICPA, continues to work with ACCA, IFAC and other partners to maintain the progress made to date under the current project.

The Constitution and the IFAC Action Plan of MICPA can be accessed at the following link;

  1. MICPA Constitution
  2. IFAC Action Plan

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