What are the steps to be done for a member of ICAI (qualified CA in India) to become a member of CPA Australia?
Step 1: Determine eligibility The following criteria applies to members of ICAI who: is the holder of a recognised university degree or is not a degree holder but who has at least five years' work experience in professional accounting have successfully completed: a. the ICAI examinations b. the ICAI practical experience requirements and is a member of good standing and not currently subject to any disciplinary sanctions or investigations and have not been subject tp any disciplinary sanctions in the past five years Each application is subject to a formal, individual assessment of qualifications. If you are uncertain as to your eligibility for membership under the MRA, contact mais.admission @ cpaaustralia.com.au.
The following steps demonstrate the pathway for the Institute of Chartered Accountants India (ICAI) qualified members to become a CPA Australia member under the conditions of the mutual recognition agreement (MRA) at the status of Associate member (ASA). Step 1: Determine eligibility The following criteria applies to members of ICAI who: is the holder of a recognised university degree or is not a degree holder but who has at least five years' work experience in professional accounting have successfully completed: a. the ICAI examinations b. the ICAI practical experience requirements and is a member of good standing and not currently subject to any disciplinary sanctions or investigations and have not been subject tp any disciplinary sanctions in the past five years Each application is subject to a formal, individual assessment of qualifications. If you are uncertain as to your eligibility for membership under the MRA, contact mais.admission @ cpaaustralia.com.au. Step 2: Complete application Complete the Application for admission as a CPA under the ICAI MRA. Include the following with your application: application, membership and enrolment fees (see application and enrolment form) 100 points of identification (see application and enrolment form) letter of good standing dated no older than one year prior to application to be obtained from ICAI which contains the following information: a. date joined ICAI b. date advanced to current member status c. date current membership is fully paid to d. confirming you are not a member of ICAI by virtue of another mutual recognition agreement e. confirming you are not currently subject to any disciplinary sanctions or investigation and have not been subject to any disciplinary sanctions in the past five years certified true copies of university academic awards and transcriptts/mark sheets or if not a degree holder, provide a workplace testimonial/s (see application and enrolment form) from employer/s to confirm position and period of employment. Evidence of five years practical experience as a professional accountant is required change of name documentation (if applicable). Step 3: Forward application All documentation to be forwarded to: Member Advisory and Information Services CPA Australia GPO Box 2820 Melbourne VIC 3001 Australia Step 4: Processing of application Your application will take approximately three to four weeks to process. If there are any queries regarding the details of your application a CPA Australia staff member will contact you via e-mail. If your application is successful, an initial e-mail will be sent to you informing you of your success. If your application is unsuccessful, a letter will be sent to you outlining the reasons why your application was not successful. Advice will be provided as to how you can meet CPA Australia's membership requirements. Step 5: Advancing to CPA status Once you become an Associate member of CPA Australia you are required to complete the following within two years: CPA113 - Business Strategy and Leadership CPA Program segment and examination This is a segment of the CPA Program and is offered by distance learning mode. Course materials are delivered to each candidate, with additional study tools and materials available via the online learning tool called MYOL (My Online Learning). Each candidate is required to sit an examination. CPD238 - Better Practice in Governance and Accountability This is a three modular continuing professional development product. All materials and assessment will be delivered via CPA Australia's online learning tool called My Online Learning (MYOL). The assessment is not an examination, it is to be undertaken online with results of the assessment displayed upon completion. Refer to the Application and enrolment form for enrolment details. To advance to CPA status, you will need to complete the Advancement to CPA status form and send to CPA Australia via the details on the form. Membership obligations Once you are a member of CPA Australia your obligations are to: Maintain membership of both CPA Australia and ICAI Complete 120 hours per triennium of continuing professional development (CPD*) Comply with CPA Australia's constitution, by-laws, code of ethics for professional accountants, professional and technical standards, and pronouncements of the board * Completion of CPA Australia's CPD requirements will also satisfy ICAI's CPD requirements. You will be required to report annually to both ICAI and CPA Australia. CPA Australia has an online CPD Diary which can electronically record your CPD hours. You can view and update the diary at any time via CPD Diary. Please note: this MRA does not include rights for ICAI members to conduct public accounting services, signed audited financial statements or act as a tax agent. A separate application for the practicing certificate issued by CPA Australia is required. How do I take advantage of this MRA if I am currently an Associate member? You will need to provide a letter of good standing from ICAI, complete sections A, C, E and F of the application form (note - application and membership fees will not apply to existing members). Send this to the address on the Application and enrolment form along with a cover note indicating you are a current member of CPA Australia (provide your CPA Australia membership number) and advise that you wish to take advantage of the MRA with ICAI.