13 June 2013
ICAEW, a world leader of the accountancy and finance profession, and the Myanmar Institute of Certified Public Accountants (MICPA) have signed a Memorandum of Understanding (MoU) to work more closely together.
The agreement between the two bodies was signed in Yangon, Myanmar on 13 June 2013 by ICAEW South East Asia Regional Director Mark Billington and MICPA Chairman Kyaw Tin and witnessed by Lord Green, Minister of State for Trade and Investment in the United Kingdom.
The MoU establishes a framework for the two bodies to work together to develop talent and advance the accountancy profession in Myanmar and South East Asia. ICAEW and MICPA will share views on the accountancy profession both nationally and internationally, with emphasis on co-operation in areas such as corporate governance, professional ethics, technical research, continuing professional development, professional accountancy training, quality control, education and examinations.
Together, the bodies will create a framework for MICPA to review and advance its strategy and plans. ICAEW and MICPA will also be developing learning programmes in areas of mutual interest – such as International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA) and audit firm governance.
Mark Billington, ICAEW South East Asia Regional Director, said: “We look forward to strengthening the relationship between ICAEW and MICPA. Myanmar is an emerging and fast-growing economy with many opportunities and great potential for development. ICAEW hopes to use its global experience to support the profession in Myanmar by developing joint programmes and supporting further learning in areas of mutual interest to MICPA members and ICAEW Chartered Accountants.”
“This is part of ICAEW’s commitment to strengthen and support the accountancy profession worldwide, promoting the highest professional, technical and ethical standards so that people can do business with confidence.”
Kyaw Tin, Chairman of MICPA, said: “We are delighted to be working with ICAEW, a world leader in the field of accountancy and finance. With Myanmar’s economy becoming more international, companies will be looking for accounting professionals with internationally-recognised accreditation. This agreement cements our commitment to enhancing our members’ capacities and professionalism.”
Lord Green said, “ICAEW Chartered Accountants are recognised and respected around the world. This initiative will help to facilitate capital flows by supporting transparency and good corporate governance – hallmarks of global financial centres like London – and is evidence of the UK’s commitment to this country. My colleagues at the British Embassy here look forward to working with both groups to develop this relationship for the benefit of both countries"