Pursuant to the Malaysian Institute of Accountants (Membership and Council) Rules 2001 which was approved on 7 November 2001, a member shall not hold himself out as a member in public practice unless he holds a valid practising certificate issued by the Institute.
In this Rules, “Member in public practice” means a chartered accountant or licensed accountant who, is a sole proprietor or in a partnership, provides or is engaged in public practice services in return for a fee or reward for such services otherwise than as an employee.
“Public practice services” includes:
- auditing including internal auditing;
- accounting and all forms of accounting related consultancy;
- accounting related investigations or due diligence;
- forensic accounting;
- taxation, tax advise and consultancy;
- costing and management accounting;
- insolvency, liquidation and receiverships;
- provision of management information systems and internal controls;
- provision of secretarial services under the Companies Act 2016; or
- such other services as the Council may from time to time prescribe
Who Should Apply Practising Certificate
Those who intend to:
- Apply for audit licence and later to set up or be a partner of an existing audit firm,
- Set up or be a partner of an existing non-audit firm, or
- Be a director in a limited or unlimited company which offers accounting, taxation and secretarial services under the Companies Act 1965. Please refer to Section B200.6 of Institute’s By-Laws (On Professional Ethics, Conduct and Practice) for further information.
- MIA member – Chartered Accountant
- Attended the Public Practice Programme
- Effective 1 January 2019, the certificate issued for Public Practice Programme shall only be valid for 2 years from the date of attendance for the purpose of applying the practising certificate.
- However, who have attended the Public Practice Programme from the period of 1 January 2014 – 31 December 2018, the validity remains at 3 years for audit approval application if you are holding a valid PC.
- This validity period applies to practising certificate holders making their first attempt for the audit approval or to setting up a non-audit practice or joining an existing non-audit firm as a partner and to participate as a director in limited or unlimited company which offers public practice services.
- If the certificate is no longer valid after obtaining the audit approval, member would be required to re-attend the Public Practice Programme within 6 months after setting up an audit practice or joining an existing audit firm as a partner.
- Practising Certificate application must be submitted through member’s online account HERE together with payment of PC annual fee and to settle any outstanding fee
- Copy of Public Practice Programme (PPP) certificate.