
Myanmar
Head of State :
U Win Myint
Capital :
Nay Pyi Taw
Language(s) :
Myanmar
Currency :
Kyat
Profile of the Country
Public Accountant firm
Regulated Accounting Services
- Statutory Audit (Including component auditor performance)
- Financial Investigation (including Forensic Audit)
- Review Engagement
- Assurance Engagement
- Agreed upon Audit Procedure (Including Independent Internal Audit)
- Signing off as an external auditor for assurance on Account, Notification, prospectus, statement of account, report, cash-book and signature or form.
NAB Membership and/or PRA Registration
NAB Requirement:
Yes.
PRA Requirement:
Yes. Auditor must be registered as the Certified Public Accountant (CPA) (full-fledged) as well as registered as practising accountant (PA) with PRA (MAC) under personal or firm name.
NAB Membership and/or PRA Registration Requirement
(such as examination, test, recognised qualifications, etc)
NAB Requirement:
Membership with MICPA is required.
PRA Requirement:
- Entry route of 2-year 12-paper CPA Qualification requiring 3-year apprenticeship.
- Entry route of international qualification holders who pass 3-paper test, requiring 3- year apprenticeship. They must be Myanmar citizens.
- CPA and PA require registration with PRA and NAB.
- Firms need to register with PRA in their names, but not with NAB.
Citizenship Requirement
Auditor must be a Myanmar Citizen who practises in Myanmar. He/she stays within the country not less than 183 days within the calendar year for next year renewal of registration and license.
Remarks
Subject to domestic laws and regulations, such as Myanmar Accountancy Council Law and By-laws, the Myanmar Companies Law, Financial Institutions Law, Notifications issued by MAC, etc.
Eligibility requirement, where applicable (ASEAN CPA/RFPA)
ASEAN CPAs are not allowed to engage in regulated services.
Regulations for RFPA are in the process of being developed.
Currently, ASEAN CPAs/RFPAs are not allowed to practice auditing under the MAC Law; they can only engage in providing non-audit services, as mentioned above. Only Myanmar citizen Practicing Accountants are entitled to pursue public accounting
practice, as shown in the first column under Public Practice.
Non-Regulated Accounting Services
- Financial accounting
- Booking
- Cost and Management Accounting
- Preparation, compilation or reporting of financial statements
- Financial management consultancy
- Investment consultancy
- Tax consultancy, Tax Filing , Tax Calculation
- Company registration and secretarial services
- Liquidation, insolvency and receivership
- Accounting system design, development and implementation
- Accounting system review & analysis
- Internal Audit
- Accounting Education Establishment
- Share Valuation
- Business Valuation
- Other accounting related services which shall be determined by PRA from time to time
NAB Membership and/or PRA Registration
NAB Requirement:
No.
PRA Requirement:
No.
NAB Membership and/or PRA Registration Requirement
(such as examination, test, recognised qualifications, etc)
NAB Requirement:
NAB membership is not required yet.
PRA Requirement:
PRA registration is not yet required and also there is no restriction on examinations, tests and recognised qualifications. However practising and non-practising CPA (who are registered at PRA) could perform those services.
Citizenship Requirement
No.
Remarks
No. Subject to domestic Laws and regulations, such as Myanmar Accountancy Council Law and By-laws, the Myanmar Companies Law, Financial Institutions Law, Notifications issued by MAC, etc.
Eligibility requirement, where applicable
Open to ASEAN CPA / RFPA.
ASEAN nationals officially recognized as ACPAs by ACPACC under MRA. At present, RFPAs are allowed to practice non-regulated services under MAC Law.
All About Registered Foreign Professional Accountant (RFPA)

