AIA has announced that they have signed an agreement for mutual examination paper exemption (MEPE) with the HKICPA, following an extensive mutal review.
This new agreement will come into effect on Sunday 1 June 2008 and will be in force until 31 May 2013. It provides a pathway for members of both organisations to attain the qualification of the other.
According to the MEPE, members of the AIA who qualified in Hong Kong and the United Kingdom (UK) will be eligible for exemption from module examination of A (Financial Reporting), module examination of C (Auditing and Information Management) and module exam of D (Taxation) of the Institute’s Qualification Programme (QP). QP qualified members of the HKICPA will be eligible to apply for full membership of the AIA. For full terms of the Agreement.
“AIA members applying for Institute’s membership must meet the following criteria:
1) Hold a university degree accredited or recognised by the Institute;
2) Pass all sixteen papers of the AIA Qualifying Examination taken in the United Kingdom or in Hong Kong;
3) Complete and pass the workshops of Module A (Financial Reporting), Module B (Financial Management), Module C (Auditing and Information Management) and Module D (Taxation) of the QP;
4) Pass the module examination of Module B (Financial Management) of the QP;
5) Pass the Final Examination of the QP;
6) Pass the Hong Kong Institute of CPAs’ Aptitude Tests on Hong Kong Law and Hong Kong Taxation;
7) Meet other standard membership requirements, e.g. be a fit and proper member in good standing, and not subject to any adverse disciplinary findings or pending complaints and investigations; and
Satisfy the Institute that he has at least 3 years of practical experience in accountancy which has been gained under an Authorised Employer or Authorised Supervisor complying with the Hong Kong Institute of CPAs’ Practical Experience Requirement.”
The reciprocal treatment for QP graduate CPAs applying for AIA membership is so light:
“Under this MEPE agreement, QP qualified Hong Kong Institute of CPAs’ members are eligible to apply for full membership of the AIA provided they meet standard membership application requirements of the AIA e.g. be a fit and proper member in good standing, and not subject to any adverse disciplinary findings or pending complaints and investigations.”
Source: http://www.aiaworldwide.com/database/email/attachments/HKICPA_Approved_Open_Letter.pdf
