Terms of Reference

Terms of Reference

1.	Objective The primary objective of the Public Practice Committee (PPC) is to enhance the professional performance (competency, quality and growth) of the members in public practice. The Committee also serves as a forum for consultation and discussion of accounting and auditing practice issues relevant to members in public practice.
2.	Accountability The Committee reports to the Council.
3.	Scope and Authority i) To provide strategic direction to management to assist in developing recommendations in relation to auditing and accounting practice matters: • The content of the Public Practice Programme (PPP) and Approval of Company Auditors Seminar including its on-going development and maintenance; • Current and anticipated trends in the auditing and accounting sector that may have an impact on MIA’s reputation, its ability to attract new members, its relationship with governments, regulators or other stakeholders; • The way in which MIA By-laws and operating structures function in relation to the needs of practicing members; • Approval of Company Auditors process; • The Professional Indemnity Insurance and other auditing and accounting practising matters. ii) To engage in discussion with stakeholders relevant to the auditing and accounting profession, such as the Audit Oversight Board (AOB), Malaysian Accounting Standards Board (MASB) and Auditing and Assurance Standards Board (AASB) of MIA; iii) To develop guidance materials on auditing and accounting practice issues in collaboration with the relevant Board / Committee / Department in MIA; iv) To consider and where applicable make recommendations in relation to broader professional development needs in the area of auditing and accounting practice; v) To provide communication link between the MIA and the relevant authorities, professional bodies and professional accountants in public practice in respect of issues affecting the auditing and accounting practice profession; vi) To initiate and recommend responses to the Council on matters relating to auditing and accounting practice profession.
4.	Term of Office a) Composition The composition of the Committee and terms of office shall be determined by the Council. b) Quorom The quorum for the Committee meetings shall be 5 members (inclusive of Chairperson). c) Meetings The Committee shall meet at least four (4) times in a financial year of the Institute.
5.	Confidentiality Statement MIA Committee members must maintain the strict confidentiality of non-public information entrusted to them by the Institute or other parties with whom the Institute does business, except when disclosure is authorized or legally required. Protected information includes any information that the Institute has not disclosed or made generally available to the public, and that is material or might be harmful to the Institute or its stakeholders if disclosed. This may include information related to the Institute’s financial information, contracts, technical and enforcement or surveillance activities information. All members (except for authorized spokespersons) are requested to contact the Institute’s Communications personnel before discussing Institute-related matters with the press.
6.	Declaration of Interest MIA Committee members are responsible for fully disclosing their interests that may have a bearing, or be perceived to have a bearing, on their ability to properly and impartially discharge the duties of their office.