- Hong Kong Institute of Certified Public Accountants
The Hong Kong Institute of Certified Public Accountants (Chinese: 香港會計師公會) (HKICPA) is a professional body for
accountantsin Hong Kong.
Its main responsibilities are:
*Registration and regulation of profession accountants in Hong Kong.
*Issurance of financial reporting standards and auditing standards.
*Promotes the accountancy profession to businesses and the general public.
It was set up in
1974with the assistance of Association of Chartered Certified Accountants(ACCA) as the local statutory accountancy body in Hong Kong. Formerly named as "Hong Kong Society of Accountants", it has since renamed to the Hong Kong Institute of Certified Public Accountants on September 8, 2004.
Since 2001 the institution has begun to offer the "Qualification Programme" or QP for short, as a direct route to become a member of the institution.
To become a registered student of the QP, there are three routes available:
#Holder of a recognised accountancy degree.
#Non-accountancy degree holder who has undergone a Conversion Programme.
#Sub-degree holder - a HKIAAT who has undergone a Foundation Programme "or" Professional Bridging Exam
QP Students will have to complete four modules, plus a final six hours examination. They will also have to meet the Practical Experience Requirement set by the institute.
The four modules are:
*Module A -
*Module B -
*Module C -
Auditingand Information Management
*Module D -
Each module consists of:
*15 weeks self-study material provided by the institute,
*four interactive workshops to attend, and
*a three hours open book examination.
The final examination will consist of material taken from all four modules.
"Please note these information are for reference only - you are advised to check the official site for up-to-date information. [ [http://www.hkicpa.org.hk/ Information on QP from the HKICPA official site] ] "
Recognition with other institutions
Association of Chartered Certified Accountants (ACCA)
2002, Hong Kong accountants were allowed to obtain full memberships from both Association of Chartered Certified Accountants(ACCA) and HKICPA under a joint examination scheme between the two institutions. On 1 July, 2005, the institute announced recognition arrangements between the two institutions under the Agreement of Recognition Arrangement(ARA) [ [http://www.hkicpa.org.hk/recognition_overseas/ACCA_July05.pdf HKICPA annoucements regarding the recognition arrangement] ] . Then on 22 August, 2006, a new Agreement of Recognition Arrangement (MRA) was signed and will be in force until 30 June, 2010, replacing an old MRA that expired in June 2005 [ [http://www.accaglobal.com/hongkong/members/recognition/press_release ACCA press release regarding the new ARA, 22 August, 2006] ] .
Institutes of Chartered Accountants
HKICPA has "Mutual Recognition Agreements" with the major
Chartered Accountantbodies worldwide:
Institute of Chartered Accountants in England and Wales
Institute of Chartered Accountants of Scotland
Institute of Chartered Accountants in Ireland
Institute of Chartered Accountants of Australia
Canadian Institute of Chartered Accountants
New Zealand Institute of Chartered Accountants
South African Institute of Chartered Accountants
Institute of Chartered Accountants of Zimbabwe
These agreements, in general, only apply to relatively recent HKICPA members who qualified through the "Qualification Programme".
HKICPA also has limited recognition arrangements in place with:
Chartered Institute of Management Accountants
Incorporated by the
Professional Accountants Ordinance(Chapter 50 of the Laws of Hong Kong) on 1 January 1973, the Hong Kong Institute of Certified Public Accountants (the Institute) is the only statutory licensing body of accountants in Hong Kongresponsible for regulationof the accountancyprofession.There is a similar organization called the HKAAT.
The Institute is a member body of the following international or regional organisations :
* Asia-Oceania Tax Consultants' Association
* Confederation of Asian and Pacific Accountants
* International Accounting Standards Board
International Federation of Accountants
* International Federation of Insolvency Practitioners
Hong Kong Accounting Standards
* [http://www.hkicpa.org.hk Official Website]
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