The Education Board (“EB”) is an independent committee designated by, and operating under the auspices of the Council of the Malaysian Institute of Accountants (“MIA” or Institute) to establish requirements on professional accounting education. The EB sets the MIA Competency Framework (“CFM”), which serves as the baseline requirements for accountancy professionals to register as MIA members.
The EB also approves and oversees the implementation plans and activities related to MIA CFM and ensures it is consistent with global standards and particularly IFAC International Education Standards (“IES”) as issued by the International Accounting Education Standards Board (“IAESB”).
To ensure the MIA CFM is relevant based on market requirements;
To determine the qualifications and proficiency required for persons for admission as members of MIA reflecting good practice in education, development and assessment of professional accountants; and
To oversee any other matters on professional accounting education.
To develop, review, and maintain the MIA CFM to ensure its relevance to the market;
To evaluate and accredit accounting qualifications for purpose of admission as members of the Institute;
To ensure the compliance of the MIA CFM to the International Federation of Accountants (“IFAC”) Statement of Membership Obligations 2 (SMO 2);
To ensure institutions seeking accreditation demonstrate that their programmes meet the requirements of the Institute for the purpose of admission as members of the Institute;
To liaise with the MQA on policy matters and other matters pertaining to the accreditation of accounting education;
To prepare comment letters to IAESB and provide feedback on matters related to accounting education involving MOE, MQA and ASEAN Qualifications Reference Framework (“AQRF”);
To engage and obtain feedback from Boards and Committees within the Institute and relevant stakeholders including the MOE, MQA, Institutions of Higher Learning, and other professional bodies in enhancing and disseminating any development in accountancy education and profession;
To co-ordinate strategies and measures to ensure growth in the number of accountancy professionals is in line with the nation’s economic needs;
To support on initiatives relating to focus funding on accounting education and to highlight issues and concerns relating to the promotion and reward structures for accounting lecturers;
To establish relevant platforms for the creation of awareness regarding the accountancy profession and imparting the necessary knowledge and skills regarding the accountancy profession at the tertiary and secondary school level;
To strengthen Malaysia’s position as the hub for accounting education and training;
To support the establishment of a more inclusive profession and encourage more Bumiputeras to pursue professional qualifications; and
To generally do such acts as the EB deems fit for the purpose of achieving any of the aforesaid objectives.
Unit 33-01, Level 33, Tower A, The Vertical, Avenue 3, Bangsar South City,
No.8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia.
The use of the word ‘Accountant’
In Malaysia, the word ‘Accountant’ is protected as provided for under the provisions of the Accountants Act 1967 which states that no one can hold himself out or practise as an Accountant unless he is registered as a member of the Malaysian Institute of Accountants.
‘The Malaysian Institute of Accountants is committed to the observance and practice of the highest ethical standards of the accountancy profession. All PC holders are reminded that under the MIA By-Laws (On Professional Ethics, Conduct And Practice), no person shall practice or hold out anything on audit/tax services without a license approved by the Ministry of Finance. Every PC holder is therefore expected to comply fully with Section B200.1 to B200.6 of the MIA By-Laws (On Professional Ethics, Conduct And Practice) failing which, you may be held liable for unprofessional conduct and disciplinary action may be taken against you.’