What is the purpose of the CPA qualifying process reform?
The HKICPA, with its statutory role of developing and regulating the accountancy profession in Hong Kong, launched the CPA qualifying process reform in 2014 to ensure professional accountants are trained with the skills, expertise and ethics that can uphold Hong Kong as an international business and financial centre. The reform also ensures the CPA qualification is in step with the continual changes in business needs and professional markets in Hong Kong as well as international best practices. It is imperative that the CPA qualifying process provided by the HKICPA not only trains professional accountants to meet current needs but also adequately prepares them for the future.
Are there any changes to the structure of the professional programme under the new QP?
Yes, the new QP will comprise three progressive levels with 14 modules and a Capstone, i.e. Associate Level (10 modules), Professional Level (four modules) and Capstone Level.
What are the key features of the new QP?
The key features of the new QP are summarized as follows:
(a) Comprise three progressive levels with 14 modules and a Capstone, i.e. Associate Level (10 modules), Professional Level (four
modules) and Capstone Level.
(b) Adopt the CPA Competence Blueprint which sets out the competence requirements and learning outcomes for the three tenets
of the qualification framework, i.e. pre-entry education, professional programme, and practical experience.
(c) Set the entry requirement of an academic qualification of higher diploma/ associate degree in any discipline pitched at the Hong
Kong Qualifications Framework Level 4 for entry into the Associate Level.
(d) Exempt the Associate Modules to individuals with a relevant academic qualification subject to the assessment outcome with a
charge of exemption fees. Students will be awarded a Certificate of Completion upon successful completion of the Associate L
Level, which is pitched at Hong Kong Qualifications Framework Level 5.
(e) Introduce an integrated Capstone comprising three-day workshops and the Final Examination with an increased emphasis on
developing and assessing higher-order enabling skills such as problem solving, critical and lateral thinking to enhance students'
ability to identify complex problems including aspects of ethical dilemma and to develop professional solutions.
(f) Introduce an examination policy on the maximum number of attempts allowed for completing the 14 modules of the professional
programme, i.e. four attempts for each module of the Associate and Professional Levels.
(g) Extend the practical experience to cover six broad areas of technical competence where students can choose a wider variety of
work environments to achieve competence for the CPA qualification.
(h) Introduce additional membership admission policy that graduates of the new QP who have completed the professional
programme for over three years will be required to complete Continuing Professional Development activities before they can
become a member of the HKICPA.
When will the new QP be launched?
The new QP will be launched stage-by-stage with the first examination session for the Associate Modules, the Professional Modules and the Capstone to be held in June 2019, December 2019 and June 2020 respectively.