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Position Paper

4 January 2017

The Hong Kong Institute of Certified Public Accountants (the "Institute") has completed the CPA qualifying process reform to ensure professional accountants are trained with the skills, expertise and ethics that can support Hong Kong as an international business and financial centre. The reform also ensures the CPA qualification is in step with the continual changes in business needs and professional markets in Hong Kong as well as international best practices.

The new version of the Qualification Programme ("QP") is the result of the CPA qualifying process reform in consultation with major employers, academia, education providers and practitioners, in addition to an extensive review by independent consultants from a top-tier overseas accountancy body and a major international accounting firm. Click here for the consultation on proposed changes to CPA Qualifying Process. In general, there is a strong support for the new QP and its proposed changes to the CPA qualifying process.

This Position Paper sets out the final content, structure and design of the new QP.

The new QP will comprise three progressive levels with 14 modules and a Capstone, i.e. Associate Level (10 modules), Professional Level (four modules) and Capstone Level. It offers alternative pathways and greater flexibility for students with different educational backgrounds, including sub-degree holders and non-accounting majors, to become CPAs. This could attract more students from other disciplines to join the accountancy profession which is important in developing a sustainable talent pool of accounting professionals.

The new QP will introduce an integrated Capstone comprising three-day workshops and the final examination with an increased emphasis on developing and assessing higher-order enabling skills such as problem solving, critical and lateral thinking to enhance students' ability to identify complex problems including aspects of ethical dilemma and to develop professional solutions. This aims to train professional accountants with the necessary skills to deal competently with professional type situations, thereby improving their employability in the market.

Consultation paper cover