KUALA LUMPUR: Malaysia Institute of Accountants (MIA) and the Association of Chartered Certified Accountants (ACCA) have inked a memorandum of understanding in efforts to develop 60,000 accounting professionals by 2020.
Under the agreement, eligible MIA members would be exempted from nine ACCA papers from a total of 14 papers with initial registration and exemption fees waived.
ACCA executive director Stephen Heathcote said the exemption would be able to expedite the certification process while at the same time produce able and qualified accountants in the country.
"We will work together to ensure sustainable pipeline of qualified accountants in Malaysia to support the government's Economic Transformation Programme and contribute to the economic growth."
Malaysia is currently only halfway to meeting the targeted number of professionals needed in the accounting field.
The agreement is hoped to boost the number of professionals in addition to elevate the profession to a higher level.