Skip to main content

Malaysian Institute of Accountants

Member | Established: 1967 | Member since 1977

Established under the Accountants Act 1967, the Malaysian Institute of Accountants (MIA) is the national accountancy body that regulates, develops, supports, and enhances the integrity, status, and interests of the profession in Malaysia. MIA accords the Chartered Accountant Malaysia or CA (M) designation. Working closely alongside businesses, MIA connects its membership to a range of resources, events, and professional development and networking opportunities. Currently, there are more than 32,000 members across all industries in Malaysia and around the world. MIA’s international outlook and connections are reflected in its membership in regional and international professional organisations, such as the ASEAN Federation of Accountants.

View Country/Jurisdiction Profile

Statements of Membership Obligation (SMO)

The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.

Last updated: 03/2015
We welcome feedback. Please email

SMO Action Plan

Status of Fulfillment by SMO

  • SMO 1: Quality Assurance

    MIA maintains a practice review program to assess compliance of its member firms with all applicable professional standards and statutes during the performance of their audit work, and has processes in place to address the requirements of SMO 1 on an ongoing basis.

    MIA reports that it enhances awareness of the Practice Review Program of its members and other stakeholders, plans to increase the resources available to the programs, and continues to conduct regular seminars on audit quality enhancement as part of the audit enhancement program for member firms.

    Current Status: Sustain

  • SMO 2: International Education Standards

    The Accountants Act (1967) in Malaysia sets pre- and post-qualification requirements for accountancy professionals. MIA currently maintains a system that is overall in line with IES requirements. MIA maintains a system that includes accrediting accounting degree programs, conducting examinations, implementing the Chartered Accountant’s Relevant Experience (CARE) practical experience program, and maintaining a continuing professional education requirement for members. MIA is currently reviewing its CARE program with the aim of improving it to meet the requirements of revised IES 5.

    MIA continues to review new degree programs offered in Malaysia. To promote further continuing education activities, MIA is producing various technical and non-technical continuing professional education (CPE) programs relevant to the accountancy profession in the form of seminars, workshops, forums, and conferences. MIA regularly communicates with members on CPE requirements and promotes CPE courses via its website, e-learning modules, email campaigns, journals, and brochures.

    Current Status: Review & Improve

  • SMO 3: International Standards on Auditing

    Having adopted ISA, MIA has established an ongoing process to ensure continuous adoption of the standards. MIA also reviews consultation documents issued by the IAASB and submits comments and facilitates implementation of ISA for its members. MIA also organizes events to train and educate its members on ISA, and offers technical assistance by responding to technical enquiries from members.

    Current Status: Sustain

  • SMO 4: Code of Ethics for Professional Accountants

    MIA has processes in place to address the requirements of SMO 4 on an ongoing basis. MIA reports that its Ethics Standards Board (ESB) has adopted the latest version of the IESBA Code of Ethics, with some modifications, to promote adherence to high-quality ethical standards in Malaysia. MIA reports that it raises member awareness of the IESBA Code of Ethics through seminars and public practice programs. The ESB has an ongoing process in place to monitor the implementation of Part I of the MIA by-laws by reviewing and commenting on IESBA exposure drafts on proposed changes to the IESBA Code of Ethics, as well as creating dialogue with members to discuss the issues of the application of the provisions under Part I of the MIA by-laws.

    Current Status: Sustain

  • SMO 5: International Public Sector Accounting Standards

    MIA does not have direct responsibility for defining public sector financial reporting requirements, but it has representatives in the Government Accounting Standards Advisory Committee. MIA’s Public Sector Accounting Committee endeavors to promote IPSAS by sharing information with the Accountant General Department, reviewing IPSASB Exposure Drafts and other consultative documents and submitting comments, providing input and technical assistance to Datuk Wan Selamah Wan Sulaiman (a member of IPSASB), and sharing experience and expertise aimed at bringing about the implementation of accrual accounting in Malaysia’s public sector.

    Current Status: Sustain

  • SMO 6: Investigation and Discipline

    MIA maintains a system for conducting investigations and discipline of its members. While most of the requirements of SMO 6 are in place, MIA has identified areas that need to be addressed, including (i) ensuring members of its disciplinary committee include non-accountants, (ii) ensuring there is an independent review of complaints that have no follow up (iii) publishing outcomes and results of investigative proceedings, and (iv) liaise with outside bodies when serious offences and crimes are identified.

    MIA has indicated that it is reviewing its current rules to comply with the requirements of SMO 6. MIA has made progress in clearing its backlog of cases, and has implemented new and revised standard operating procedures to increase the efficiency and effectiveness of the process. It is also strengthening its manpower through the recruitment of legally trained staff with accounting and auditing experience. Since October 2013, MIA has recruited a director to head the Surveillance and Enforcement Division, a manager to handle disciplinary matters, and an accounting manager and assistant accounting manager to ease the work load.

    Current Status: Review & Improve

  • SMO 7: International Financial Reporting Standards

    MIA has processes in place to address the requirements of SMO 7 on an ongoing basis. Having no direct responsibility for the adoption of IFRS, MIA focuses on providing guidance on the implementation of IFRS, reviewing drafts, and issuing comments on drafts issued by the Malaysian Accounting Standards Board (MASB), and is involved in MASB’s standard-setting process via working groups and task forces. MIA educates its members on MFRS adoption by sharing information with its members, offering relevant training, and providing technical assistance to members.

    Current Status: Sustain


IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.


Dewan Akauntan, Unit 33-01, Level 33
Tower A, Vertical Business Suite, Ave 3
Kuala Lumpur59200