Memorandum of Understanding between the Association of Certified Accountants (Malaysia) and the Institute of Certified Management Accountants (Australia & New Zealand)

1. Purpose of the MOU

This agreement will serve to both strengthen the professional accounting links between two of the world’s leading economies and provide highly skilled professional accountants for the global labour market, enabling both institutes to work together to enhance recognition of the profession and their professional bodies.

2. Commencement, Duration and Termination

• This MoU shall come into effect from the date it is signed by the respective parties.
• The MoU’s duration shall be 5 years from the date of signing.
• This MoU may be terminated by either party giving 90-day written notice to the other party of its intention to terminate it.

3. Amendment and Extension

This MoU may be amended and extended under the written mutual agreement of both organisations.

4. Contents of the MOU

• The two sides will cooperate in sharing information and professional experience in Malaysia (the country), paying special attention to cooperation in the field of membership management, professional development and professional ethics, updating their knowledge, quality control, training and career development.
• The two sides will organise, cooperate and participate in conferences, seminars and joint activities to bring benefits to both sides, focusing on the emerging fields of interest in the accounting profession in Malaysia, including the support that the CMA (ANZ) will provide in terms of speakers for conferences and training updates for ACA’s members.
• The two sides will promote the mutual cooperation in their respective activities, events and publications.
• The two parties will recognise mutual membership pathways as follows:
•  ACA: CMAs and AMAs of ICMA (ANZ) will be directly eligible for Associate Cost Accountant (AACA) membership in ACA provided they meet the practical experience requirements for that respective grade that have been established by ACA. Further, CMAs of ICMA(ANZ) will be eligible for Certified Membership in ACA provided they complete the ACA Certified Professional Programme and meet the practical experience requirements for the respective grade that has been established by ACA.
•  ICMA(ANZ): CACAs and AACAs of ACA will be directly eligible for Associate Management Accountant (AMA) membership in ICMA(ANZ) provided they meet the practical experience requirements for the respective grade that has been established by ICMA(ANZ). Further, CACAs of ACA will be eligible for Certified Management Accountant (CMA) membership in ICMA(ANZ) provided they complete two (2) subjects of the ICMA(ANZ)-CMA Education Program and meet the practical experience requirements for the respective grade that has been established by ICMA(ANZ).
• The two sides will engage in other activities of the mutual cooperation.
• The two sides agree that the MOU is not exclusive and that each party can cooperate with other partners in the region and internationally in accordance with their capacity.

The two sides agree to the contents of the Memorandum of Understanding and on the implementation and the commitment towards cooperation and sustainable development goals for professional career development.

Enquiries:

TFAC:

Prof. Dr. Tan Yen Wooi

Email: ACA SECRETARIAT <[email protected]>

CMA(ANZ)

Dr. Chris D’Souza

Email: [email protected]