MRA Accountancy ASEAN
The Governments of Brunei Darussalam, the Kingdom of Cambodia, the Republic of Indonesia, Lao People’s Democratic Republic, Malaysia, the Republic of the Union of Myanmar, the Republic of the Philippines, the Republic of Singapore, the Kingdom of Thailand, and the Socialist Republic of Viet Nam, Member States of the Association of South East Asian Nations (ASEAN or ASEAN Member States).
Recognising the objectives of the ASEAN Framework Agreement on Services (AFAS), which are to enhance cooperation in services amongst ASEAN Member States in order to improve the efficiency and competitiveness, diversify production capacity and supply and distribution of services of their services suppliers within and outside ASEAN; to eliminate substantially restrictions to trade in services amongst ASEAN Member States; and to liberalise trade in services by expanding the depth and scope of liberalisation beyond those undertaken by ASEAN Member States under the General those undertaken by ASEAN Member States under the General Agreement on Trade in Services (GATS) with the aim to realising free trade in services;
Noting that Article V of AFAS provides that ASEAN Member States may recognise the education or experience obtained, requirements met, and license or certification granted in other ASEAN Member States, for the purpose of licensing or certification of service suppliers;
Noting the decision of the Bali Concord II adopted at the Ninth ASEAN Summit held in 2003 calling for completion of Mutual Recognition Arrangements (MRA) for qualifications in major professional services by 2008 to facilitate free movement of professionals / skilled labour / talents in ASEAN;
Recalling the ASEAN Mutual Recognitions Arrangement (MRA) Framework on Accountancy Services signed by the ASEAN Economic Ministers on 26 February 2009 in Cha-am, Thailand, which lays down the broad principle and framework for the negotiations of bilateral or multilateral MRAs on accountancy services between or among ASEAN Member States;
Desiring to conclude multilateral MRA Under Article V of the ASEAN MRA Framework on Accountancy Services to promote the flow of relevant information and exchanging expertise, experiences and best practices suited to specific needs of ASEAN Member States;
Have Agreed on this ASEAN Mutual Recognition Arrangement on Accountancy Services, and signed by all 10 ASEAN member countries in Nay Pyi Taw, Myanmar on 13 November 2014.
The MRA is the foundation of mutual recognition of ASEAN professional accountants through the ASEAN Chartered professional Accountants (ASEAN CPA) designation. It stipulates and the requirements and application procedures for becoming an ASEAN CPA, the right and obligations of an ASEAN CPA.