|
ASEAN MRA
Framework on Accountancy Services
The ASEAN
Mutual Recognition Arrangement (MRA) Framework on
Accountancy Services was signed by the ASEAN Economic
Ministers (AEM) at the 40th AEM meeting on 25 August 2008 in
Singapore.
The MRA Framework lays down the broad principle and
framework for the negotiations of bilateral or multilateral
MRAs on Accountancy Services among ASEAN Member States by
providing a structure towards the conclusion of such MRAs.
The MRA Framework also provides for the exchange of
information in order to promote and take into consideration
the development of the best practices on standards and
qualifications in the accountancy profession.
In granting mutual recognition, the ASEAN Member States
recognise that education, licenses, demonstration of
competencies and experience may be the principal elements for
consideration. In addition, ASEAN Member States are
encouraged to take into account the standards and guidelines
set out by IFAC. The professional competencies and
qualifications threshold for the practice of accountancy in
ASEAN Member States shall be established, maintained and
upheld according to these standards wherever possible,
taking into consideration the domestic regulations of each
ASEAN Member States.
The MRA Framework, being framework in nature, does not
provide for implementation and operationalisation among
ASEAN Member States. Due to the differences in domestic
regulations and social and economic developments of each
ASEAN Member State, the MRA Framework acknowledges that
multilateral MRAs between ASEAN Member States for the
accountancy sector would be very difficult to achieve. For
this purpose, this MRA Framework acts as a tool to encourage
ASEAN Member States to explore bilateral MRAs in the
accountancy sector.
For detailed information, you can download the ASEAN MRA
Framework on Accountancy Services
HERE. |
