Members of CICPA

The Institute has an agreement with the Chinese Institute of Certified Public Accountants (CICPA) for mutual examination paper exemptions (MEPE). The MEPE allows members of CICPA exempt from three modules (A, B and C) of the Institute's QP.
  
To be eligible for taking the QP, the applicant should:
  
(i)
be a recognized degree holder; and
 
(ii)
have passed the PRC CPA Uniform Examination and obtained the Certificate of Completion; or  have registered as a member of CICPA on or before 29 July 2008 though he did not complete the PRC CPA Uniform Examination.

 

Practical experience requirements for CPA membership


In order to meet the requirements for CPA membership of the Institute, apart from successful completion of the QP professional examinations, students are also required to comply with the competency-based Practical Experience Framework (PEF). For relevant experience gained outside Hong Kong by registered students on or after 1 January 2005, such experience will be recognized only if it is gained under an Authorized Employer/ Supervisor (AE/AS). Experience gained in the branch office of an Authorized Employer situated outside Hong Kong will also be recognized. For QP students under the MEPE working in the Mainland but not under an AE/AS, they may fulfill the practical experience requirements if their employers satisfy certain quality assurance criteria such that they will be regarded as having worked under a structured training environment of a standard equivalent to the PEF.

 

Practising certificate

A CPA who wishes to sign statutory audit reports must apply to the Institute for a Practising Certificate (PC). The applicant needs to meet additional requirements, including ordinarily resident in Hong Kong, PC examinations, auditing experience, continuing professional development, and non-bankruptcy requirements, etc. CICPA members who qualified as a CPA member of the Institute by taking Module D (Taxation) and Final Examination of the QP under the MEPE are required to sit the PC-Law paper for PC issuance purpose. Those who have not sat and passed the Auditing paper in the PRC CPA Uniform Examination of CICPA are required to sit the PC-Business Assurance and PC-Law papers. For details of the PC issuance requirements, please refer to the Institute's homepage.