The ASEAN Mutual Recognition Arrangement (MRA) for Accountancy Services was signed last November 2014 by all ASEAN member states. This MRA is intended to provide mobility of accountants in the ASEAN where there will be minimal restrictions imposed on accountants working in the various countries in the region. Filipino CPAs will be able to take advantage of the demand for accountants in Singapore, Malaysia, and the other ASEAN member states and consider employment in these countries. The Philippines has organized a Monitoring Committee for the MRA implementation which will soon be releasing the guidelines on how to become ASEAN Chartered Professional Accountants (ACPAs).
In the past three years, the accountancy representatives of the ten ASEAN countries have been discussing the transition implementation details of the ASEAN MRA. The matters discussed included the establishment of the Monitoring Committees for each country that will spear head the implementation; the ACPACC Rules; the updated List of Regulated Accountancy Services ; the Assessment Statements that each country shall prepare; Final Report of Development of Implementation/Action Plans to Enhance Mobility of ASEAN Professionals on Accountancy Services Project; the ACPACC Rules and Regulations; the setting up of web site, the finalization of the List of Regulated and Non-Regulated Services and, the Philippine recommendation to discuss of fast tracking of activities to enhance mobility of accountants in the region.
“Filipino accountants need to be prepared and ready to meet the opportunities and benefit that the MRA will bring. At the same time, we should all be ready to face the competition from the other ASEAN countries that will result in challenges to our accountants. The Monitoring Committee of the PRC Board of Accountancy is now accepting applications for ACPAs from Filipino CPAs,” said Chairman Tan-Torres.
The BoA has come up with the ASEAN AWARENESS FOR ACCOUNTANTS of the MRA” series or the “3AM series.” This is an awareness campaign on the MRA that is directed towards making the stakeholders in the accountancy profession aware of the important developments in the MRA. The BoA has been posting information materials on the MRA on its Facebook and website. Discussions on the MRA have been held in various fora and events attended by the BoA Chairman and members .
Flyers and brochures on the MRA have been published and disseminated. The Continuing Professional Development seminars and modules prescribed by BoA offer topics on the MRA. Announcements and news on the MRA shall be posted on the BoA website and various social networking accounts.
All accountants are encouraged to post questions and topics that they would want to be discussed in this 3AM series. The suggested topics or any questions on the MRA can be also be emailed to email@example.com.
For information on the MRA and 3A series you can log in at the BoA website at https://boa.com.ph/asean-mutual-recognition-arrangement/
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