The requirements to become an approved company auditor are as follows:-
Applicant has passed the Final Examination of Part I of the First Schedule of the Accountants Act, 1967; OR
admitted as a member of any of the recognized bodies specified in Part II of the First Schedule of the Accountants Act, 1967;
Applicant must be a member of the MIA and registered as a “Chartered Accountant”;
Applicant must hold valid practising certificate issued by MIA. Please take note that the practising certificate only valid for 6 months. Therefore, it is advisable to submit the audit licence application immediately after you obtain the practising certificate;
Applicant must has five (5) years of accumulative working experience, on full time basis, which can be either Pre- & Post- MIA membership, but:
at least one (1) year upon being a MIA member;
at least three (3) years out of the five (5) years’ experience must be in audit practice; and
one (1) year practice (out of the above three (3) years) in audit supervisory role. Audit supervisory means overseeing, managing and controlling audits consulting engagements including preparing financial reports and audit planning.
First time applicant is required to attend the Public Practice Programme organized by MIA. The certificate of attendance must valid during the application;
Applicant who possess the relevant auditing experience but are no longer in an audit practice, is still eligible to apply at the point of submission, if he/she had:
left the Audit Practice within three (3) years from the date of application; or
left the Audit Practice for more than three (3) years but has at least one (1) year recent working experiences in audit practice within the Malaysian environment prior to the submission for new application.
Applicant having experiences in audit firm in other countries can also be considered provided he/she has at least one (1) year recent working experiences in audit practice within the Malaysian environment, on a full time basis.
Unit Unit Kawal Selia Juruaudit dan Penyelesai Syarikat
Bahagian Pembangunan Perakaunan dan Pengurusan
Jabatan Akauntan Negara Malaysia
Aras 6 & 7, Kompleks Kementerian Kewangan
No.1, Persiaran Perdana
Presint 2, 62594 Putrajaya
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.’