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Malaysian Institute Of Accountants

The Malaysian Institute of Accountants (MIA) is a statutory body responsible to regulate the accountancy profession in Malaysia. It is the sole organisation in Malaysia with the right to determine whether or not a person is qualified to be recognised as an accountant by virtue of the power provided by the Accountants Act, 1967. The focus of MIA is to enhance the credibility of the accountancy profession through three approaches. Firstly, MIA sets the benchmark for the qualification to be recognised. It is also involved in providing continuing professional education to ensure the members are updated on the new knowledge and skills required out of them. Secondly, MIA sets professional standards to be complied with by its members in line with global expectations. This includes providing implementation guidance to members. The standards set by MIA are auditing standards and By-laws (On Prefessional Conducts and Ethics). Finally, MIA enforces the standards through its surveillance and disciplinary processes. To assist better implementation of Financial Reporting Standards in Malaysia, MIA establishes the Financial Reporting Standards Implementation Committee which provides guidance on implementation issues. At the international level MIA is a member of the International Federation of Accountants, Confederation of Asian and Pacific Accountants and Asean Federation of Accountants.