Chartered Institute of Management Accountants (CIMA)
Agreement for Mutual Examination Paper Exemption (MEPE) between the Hong Kong Institute of Certified Public Accountants (HKICPA/ the Institute) and the Chartered Institute of Management Accountants (CIMA) (1 July 2024 – 30 June 2029)
HKICPA members applying for CIMA membership
Q1. What are the criteria for HKICPA members to become CIMA members under the MEPE agreement?
All HKICPA members, including Qualification Programme (QP) and non-QP qualified members should have (a) passed or been exempted from Paper P3 (Risk Management) of the Chartered Global Management Accountant (CGMA) Professional Qualification; (b) passed the Strategic Case Study Exam; and (c) satisfied CIMA that he has at least 3 years of practical experience as a management accountant recorded as a Career Profile with Record of Skills Development.
HKICPA members may be exempted from passing all papers of the CGMA Professional Qualification save and except Paper P3 (Risk Management) and Strategic Case Study Exam of the CGMA Professional Qualification in accordance with the terms and conditions:
(a) Save and except those members identified in (b) below, HKICPA members who apply for membership of CIMA (and not for any other purpose) shall be exempted from sitting and passing Paper P3 (Risk Management).
(b) A person who becomes a member of the Institute by virtue of his being a member of another accountancy body or without completing HK QP shall be subject to a competency assessment by the CIMA on a case-by-case basis for the eligibility of the exemption of Paper P3.
Notwithstanding a HKICPA member is exempted from sitting and passing Paper P3 under clause (a) or (b), the member is required to attend the Strategic Case Study Exam preparatory workshop provided by CIMA before taking the Strategic Case Study Exam.
Q2. I am a QP student, how can I take advantage of the MEPE agreement?
You must become a HKICPA member before you can register as a CIMA student to take Papers P3 (if applicable) and Strategic Case Study Exam of the CGMA Professional Qualification under the MEPE agreement.
CIMA members applying for HKICPA membership
Q3. What are the criteria for CIMA members to become HKICPA members under the MEPE agreement?
CIMA members who wish to apply for HKICPA membership under the MEPE agreement must meet all the criteria and submit his/her membership application to HKICPA on or before 30 June 2029 for processing.
Please click HERE for details.
Q4. I am a CIMA student. Do I need to register as a HKICPA student in order to take advantage of the MEPE agreement?
You must become a CIMA member before you can register as a HKICPA student and take and pass the QP Modules and the Capstone in order to be eligible to apply for HKICPA membership under the MEPE agreement.
Degree recognition and paper exemption
Q5. What is "an accounting or non-accounting degree accredited or recognised by HKICPA?"
Accounting or non-accounting degrees accredited by HKICPA are those undergraduate or postgraduate degrees which are accredited by HKICPA.
Accounting or non-accounting degrees recognised by HKICPA refer to those undergraduate or postgraduate degrees awarded by institutions or programme providers which are recognised by HKICPA.
Q6. When should I apply for assessment of my degree and the exemption(s) I have obtained from any of the papers of the Chartered Global Management Accountant (CGMA) Professional Qualification?
You should complete and return a preliminary assessment form to the HKICPA for processing. After the preliminary assessment, if you are eligible to apply for HKICPA membership under the MEPE agreement, you will be asked to register as a QP student to take the requisite QP modules and the Capstone. You should then apply for (i) assessment of your degree and (ii) paper exemption(s) of the CGMA Professional Qualification at the time you submit your QP student registration application to HKICPA. You are required to submit copies of your degree certificate, transcript and the CGMA Professional Qualification result report for assessment, which may levy an assessment fee.
Q7. I am a CIMA member and a QP student who have already passed one QP module. Can my QP module result be transferred for satisfying one of the membership requirements under the MEPE agreement?
Yes, your QP module result can be used for satisfying the module requirement in MEPE agreement.
Q8. Can I apply for QP student registration and enroll for QP Module(s) required under the MEPE agreement before completion of the Chartered Global Management Accountant (CGMA) Professional Qualification?
No, you must be a CIMA member and have obtained an accounting or non-accounting degree accredited or recognised by HKICPA before you are eligible to apply for QP student registration and QP module(s) enrolment.
Q9. I have attended some workshops offered by CIMA. Have I fulfilled the workshop requirement of QP Module(s)?
No, you must complete and pass the workshops of QP Module(s).
Q10. Do I need to register as a QP student before I enrol in Module 13 and/or 14 of the QP or the Capstone?
Yes, you must register as a HKICPA student and hence, shall be subject to the student registration procedures and enrolment deadlines applicable to QP students.
You will also be required to pay the initial and annual student registration fees and module fees and the Capstone enrolment fees to HKICPA.
Q11. I am a CIMA member and have just registered as a QP student. Can I take the Capstone before completion of the QP Modules required under the MEPE agreement?
No, you must complete the QP Modules before you are eligible to take the Capstone.
Q12. I am a student of CIMA. Can I sit the Capstone?
No. The MEPE agreement benefits are only available after you met the requirements of the Chartered Global Management Accountant (CGMA) Professional Qualification and become a CIMA member.
Q13. Are there any other options to satisfy the Aptitude Test requirement?
Yes, please click to see other examinations that are recognised as satisfying the Aptitude Test on Hong Kong Law paper.
Q14. What is "three years of relevant accounting experience" required for registration as a HKICPA member?
You must have gained at least three years of relevant accounting experience under an Authorized Employer or Authorized Supervisor complying with the requirements of Institute’s Practical Experience Framework. Please click here for details of the practical experience time and competence requirements for membership admission.
Q15. Will my experience acquired prior to my registration as a QP student be counted?
Your practical experience acquired on and after 1 July 2005, irrespective of the date of your registration as a CIMA student, must be obtained under HKICPA Authorized Employers or Authorized Supervisors (AE/AS). Under the MEPE agreement route, your prior practical experience acquired under an AE/ AS before you become a registered QP student may also be recognized. Accounting experience acquired under non-AE/AS before 1 July 2005 will be considered on a case-by-case basis.
Q16. My current employer is a CIMA accredited employer but is not an HKICPA Authorized Employer or Authorized Supervisor (AE/AS). Will my experience qualify for HKICPA membership admission?
No, your employer or supervisor must register as an AE/AS before your working experience can be counted for HKICPA membership admission purpose. Details of the AE/AS registration requirements can be found here .
Q17. Am I (CIMA member) eligible for any exemption from the PRC CPA Uniform Examination under the mutual examination paper exemptions agreement for mainland and Hong Kong accountants after admission to HKICPA through the MEPE agreement?
No, only HKICPA members who were admitted to the Institute on or before 29 July 2008 can enjoy exemption from four out of seven papers of the PRC CPA Uniform Examination. Members admitted to HKICPA on or after 30 July 2008 need to have qualified through completion of the QP in full in order to enjoy the exemption under the MEPE agreement for mainland and Hong Kong accountants.
