CPA Australia (CPAA)
Mutual Recognition Agreement (MRA) between the Hong Kong Institute of Certified Public Accountants (HKICPA/ the Institute) and CPA Australia (CPAA) (New MRA)
(1 July 2025 - 30 June 2030)
HKICPA members applying for CPAA membership
Q1. What are the conditions for HKICPA members to become CPAA members under the new MRA effective from 1 July 2025 to 30 June 2030?
HKICPA members who wish to apply for CPAA membership under the new MRA must meet the following conditions: -
hold an accredited or recognized university degree;
pass the Qualification Programme (QP) in full;
meet the HKICPA practical experience requirements recognised by CPAA, i.e. experience gained under HKICPA Authorized Employer or Authorized Supervisor (AE/AS);
are a HKICPA member in good standing; and
when an applicant has taken up permanent residency in Australia (as opposed to working or residing temporarily in Australia) pass university examinations offered on behalf of CPAA or the HKICPA in the appropriate subject or subjects of Australian Company, Taxation or Other Laws as prescribed by the By-Laws from time to time of CPAA, and may be required to pass the Global Strategy and Leadership segment of the CPAA CPA Program.
If you are a QP student registered before 1 July 2005, you would fall under the transitional arrangement of the old MRA. Please refer to Q2 for more information.
Q2. What is the difference between the new and old MRA?
With effect from 1 July 2025, the new MRA is in force. The 2000 MRA (old MRA) ended on 30 June 2005. Transitional arrangement for the old MRA is in place.
The conditions for HKICPA members to obtain CPAA membership are the same under the new MRA and the transitional arrangement of the old MRA except that under the new MRA, HKICPA members who take permanent residency in Australia may be required to pass the Global Strategy and Leadership segment of the CPAA CPA Program.
Q3. I am a Qualification Programme (QP) student. Do I need to register as a CPAA associate member in order to enjoy the new MRA?
No, you are not required to register as an associate member of CPAA. After having completed the QP and gained experience under an AE/AS1 to become the HKICPA member, you are eligible to apply for CPAA membership.
1 If you did not gain experience under an AE/AS, your experience will be vetted by CPAA when you apply for membership according to their prevailing requirements.
Q4. Do I need to maintain my HKICPA membership if I obtain CPAA membership under the MRA?
HKICPA members should retain their HKICPA membership after attaining CPAA membership.
CPAA members applying for HKICPA membership
Q5. What are the conditions for CPAA members to become the HKICPA member under the new MRA?
CPAA members who registered as associate members (students) of CPAA on or after 16 August 2004 and wish to apply for HKICPA membership must meet all conditions in the new MRA and submit their membership application to HKICPA on or before 30 June 2030 for processing.
Please click HERE for the detailed conditions.
Q6. What is the difference between the new and old MRA?
With effect from 1 July 2025, the new MRA is in force. The 2000 MRA (old MRA) ended on 30 June 2005. Transitional arrangement for the old MRA is in place.
The conditions for CPAA members to obtain HKICPA membership under the new MRA and the transitional arrangement of the old MRA are detailed on our webpage .
The main differences in the conditions are:
Under the old MRA, CPAA members who registered as associate members before 16 August 2004 and passed the CPAA CPA Program by 30 June 2007 can apply for HKICPA membership after satisfying the Institute’s practical experience requirements. No further examinations or tests are required. Under the new MRA, CPAA members are required to hold a university degree accredited or recognised by CPAA (NOT restricted to degree gained through a course of study undertaken in Australia for the full duration of the course), excluding a university awarded by a university in Mainland China or Hong Kong. They are also required to satisfy other conditions set out HERE .
Q7. I am a CPAA member. Is the new MRA applicable to me?
If you were registered as an associate member of CPAA on or after 16 August 2004, or if you were registered as an associate member of CPAA but failed to pass the CPAA CPA Program by 30 June 2007, the new MRA will apply to you, provided you hold a university degree accredited or recognised by CPAA, awarded by a university outside Mainland China or Hong Kong.
Q8. I am a CPAA member. Do I need to register as a HKICPA student in order to enjoy the new MRA?
Yes, you are required to register as HKICPA student in order to take the Capstone of the Institute’s Qualification Programme (QP). Please complete a preliminary assessment of your eligibility for the HKICPA membership under the MRA before you may proceed to register as a QP student. When you submit your QP student registration application, you will need to provide your degree certificate, transcript, CPAA professional examination result report, and any other relevant fees for the HKICPA's assessment.
Q9. I took a university degree awarded in Mainland China. Am I eligible for HKICPA membership under the new MRA?
No, under the new MRA, you must hold a university degree accredited or recognised by CPAA, excluding a university degree awarded by a university in Mainland China or Hong Kong.
Q10. Do I need to maintain my CPAA membership if I obtain HKICPA membership under the MRA?
CPAA members should retain their CPAA membership after attaining HKICPA membership.
Q11. What is a university degree accredited or recognised by CPAA?
A recognised university degree means a degree recognised by the Australian Government and CPAA for admission to CPAA membership. For a list of accredited university degrees, please visit the CPAA website for details.
Q12. I have completed the CPAA CPA Program, but it does not include one of the compulsory / mandatory segments required by the new MRA. Do I qualify for HKICPA membership?
No, you must complete the specific compulsory and mandatory segments (see HERE ) under the new MRA in order to qualify for HKICPA membership. You should either: -
(a) sit and pass the required segment(s) of the CPAA CPA Program; or
(b) pass the corresponding module(s) of the Institute’s Qualification Programme (QP) as follows, or equivalent QP Module(s) in previous version: -
Compulsory Segments / Mandatory Segments of CPAA CPA Program Correspondence Module of the QP
Financial Reporting and Disclosure / Financial Reporting
Module 11 (Financial Reporting)
Financial Risk Management
Module 12 (Business Finance)
Assurance Services and Auditing / Advanced Audit and Assurance
Module 13 (Business Assurance)
Q13. I have attended the workshops in a segment of the CPAA CPA Program. Have I fulfilled the workshop requirement under the new MRA?
No, you must pass the Capstone (which includes workshops) of the QP. If you passed the Final Examination in the previous version of the QP, you are required to complete and pass the workshops of a QP module.
Q14. What is "three years of practical experience in accountancy" required for registration as a HKICPA member?
You must have at least three years of relevant accounting experience g ained under an AE/AS complying with the requirements of the 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 which was acquired prior to my registration as associate member of CPAA and not under an Authorized Employer or Authorized Supervisor (AE/AS) be counted?
No, your practical experience acquired on and after 1 July 2005, irrespective of your registration date as a CPAA associate member, has to be obtained under an AE/AS.
Q16. I am working in Australia under the CPAA Mentor Program, and my employer is not an Authorized Employer or Authorized Supervisor. Will my experience qualify for HKICPA membership admission?
Under the new MRA, experience acquired outside Hong Kong may be accepted by HKICPA if it is considered being equivalent to the Institute’s Practical Experience Framework. This will be assessed on a case-by-case basis.
Q17. Am I (CPAA member) eligible for any exemption from the PRC CPA Uniform Examination under the mutual examination paper exemptions (MEPE) agreement for mainland and Hong Kong accountants after I have admitted as a HKICPA member through the new MRA?
No, only members who were admitted to HKICPA on or before 29 July 2008 can enjoy exemption from four out of seven papers of the PRC CPA Uniform Examination. HKICPA members admitted on or after 30 July 2008 need to have qualified through completion of the Institute’s Qualification Programme (QP) in full in order to enjoy the exemption under the MEPE agreement.
