The Malaysian Institute of Accountants is a statutory body set up under Accountants Act, 1967 to regulate and develop the accountancy profession in Malaysia. The functions of the Institute are, inter alias:

1. To regulate the practice of the accountancy profession in Malaysia;

2. To promote in any manner it thinks fit, the interests of the accountancy profession in Malaysia;

3. To provide for the training and education by the Institute or any other body, of persons practising or intending to practise the profession;

4. To determine the qualifications of persons for admission as members; and

5. To approve, regulate and supervise the conduct of the Qualifying examination.

At the helm of stewardship is the Council represented by the Accountant General, elected and appointed Council Members in public practice, commerce and industry, government and academia, as well as the Registrar. The President, elected amongst the Council Members, heads the Council.

The Council seeks to carry out the functions entrusted to the Institute under the Act, and to serve members not only within Klang Valley but also in the other states throughout Malaysia. While most of the functions are undertaken from the Institute’s office (HQ) in Kuala Lumpur, some of the functions are enhanced through the contributions of members outside the Klang Valley.

In Malaysia, the word “accountant” is protected as provided for under the provisions of the said Act which states that “no one can hold himself out or practise as an accountant unless he is registered as a member of MIA”. Members of MIA are registered in one of the following categories: Chartered Accountant, Licensed Accountant or Associate Member.

As the national accountancy body, the MIA sets high professional and ethical standards that all accountants in Malaysia must adhere to. All accountants are bound by the MIA’s strict code known as the Institute’s By-Laws (On Professional Conduct and Ethics) and any breach of the ethics by members will render them liable to disciplinary proceedings by the Institute.

Members of MIA receive technical services support and are updated on information regarding the latest developments in the accountancy profession through, inter alias, the Continuing Professional Education (CPE) programmes, members’ dialogues/forums, MIA’s journal (Accountants Today) and website.

The Institute is an active partner in nation-building by participating in the government’s activities and programmes, as well as contributing views and ideas for the well-being of the nation and the accountancy profession. In addition, the Institute monitors international and local accounting trends and developments, and consults regularly with the government and statutory bodies.

In the international and regional arena, the Institute plays a significant role in developing and advancing the global accounting profession. The MIA is a member body of the following professional bodies viz.:

ASEAN Federation of Accountants (AFA)
Confederation of Asian and Pacific Accountants (CAPA)
International Federation of Accountants (IFAC)

MIA has also won the bid to host the prestigious 18th World Congress of Accountants (WCOA) in Kuala Lumpur in 2010.

Visit MIA’s website at www.mia.org.my.