Education

Guidelines & Syllabus

The examination guidelines and syllabus are prepared as reference and guidance for the candidates and the Examination Body. The examination guidelines shall be read subject to the MIA Qualifying Examination Rules 2002.

Part One - Examination Guidelines

1.1 No person shall be eligible to sit for the Qualifying Examination unless he possesses a qualification relating to accounting, business or finance recognised by the Public Service Department or other qualifications approved by the Council.
1.2 The applicant must possess a qualification of not lower than a first degree in relation to accounting, business or finance and the accounting content in the qualification referred to under para 1.1 above shall form not less than sixty percent (60%) of the total qualification which will be assessed by the Examination Committee.
2.1 Applications for registration to sit for the Qualifying Examination shall be submitted to the Examination Committee in the form prescribed in the First Schedule of the Malaysian Institute of Accountants Qualifying Examination Rules 2002. Application forms are available on request from the Institute’s Secretariat at the MIA Office. The forms are also available on the MIA website, (www.mia.org.my).
2.2 Applications must be received by the Examination Committee on or before the closing date set for acceptance by the Committee. MIA will upload the closing date of the registration on the MIA website.
2.3 The application must be accompanied by:-
  1. The prescribed fees payable for registration.
  2. A certified true copy of the results transcript of the qualification referred to in sub-paragraph 1.1. The copy is to be attested by:-
    1. the candidates’ employer; or
    2. a member of the institute; or
    3. a Commissioner for Oaths.
  3. Any other document as the Examination Committee deems appropriate on a case to case basis.
3.1 If the candidate is eligible to sit for the Qualifying Examination, the Examination Committee will issue the Certificate of Candidacy.
3.2 Upon receipt of the Certificate of Candidacy, candidates are advised to check carefully the information contained therein. If there is any doubt, the candidate should contact the Institute’s Education Department immediately.
3.3 The Certificate of Candidacy shall be valid for a period of 2 years from the date the certificate.
3.4 The Certificate of Candidacy is renewable for a period of 2 years upon its expiration. Applications for renewal must be accompanied by the prescribed fee.
4.1 The candidates are required to undertake the MIA QE Assessment which comprises of workshop evaluation and final examination. For the workshop evaluation, candidates are required to attend a series of workshops for each paper registered.
4.2 The workshop evaluation may be in the form of quizzes, assignments, group project paper, presentation and any other forms of assessment as decided by the Examination Committee.
4.3 The candidates must obtain at least 50% of the final examination marks.
4.4 The passing mark for Qualifying Examination is 50% for each paper based on summation marks obtained from the workshop evaluation and final examination.
4.5 The candidates will be provided with MIA QE Study Text and Workshop Manual upon registering for the workshops.
4.6 Attendance and participation in these workshops are compulsory. Failure to comply will result in the candidates failing the MIA Qualifying Examination.
4.7 MIA will announce the workshop evaluation marks before the final examination. The candidates are required to check the workshop evaluation marks from the MIA website.
4.8 The results released by MIA for the Qualifying Examination is final and no appeal will be entertained as stated in paragraph 9.3.
4.9 In the event the candidate is absent or fails in the final examination, the can-didate will be allowed to retain the workshop evaluation marks for the next immediate examination sitting only, subject to approval of the appeal to the Examination Committee, whereby:
  1. All appeals from candidates who are absent from the final examination shall be made in writing to the Examination Committee within seven (7) working days after the commencement of the final examination which the candidate was scheduled to sit. These candidates must provide a concise explanatory statement regarding his/her absence to support his/her appeal together with any relevant documentary evidence; and
  2. All appeals from candidates who failed the final examination shall be made in writing to the Examination Committee within seven (7) working days after the announcement of the examination results of which the candidate had sat.
4.10 Candidates who are successful in their appeals under paragraph 4.9 above are required to apply to re-sit for the final examination in the next immediate sitting.
4.11 Candidates will have to register and repeat the MIA QE Workshop under the following circumstances:
  1. if the candidates are unsuccessful in their appeals under paragraph 4.9; or
  2. if the candidates have failed or were absent during the re-sitting of the fi-nal examination pursuant to paragraph 4.10
4.12 Candidates are allowed to consider reattempting the MIA QE Workshop in the next immediate sitting.
4.13 Decisions made by the Examination Committee regarding the appeals are fi-nal and no further correspondence shall be entertained.
5.1 The Examination Committee will set the workshop dates and closing date for the workshop registration and the dates will be uploaded on the MIA website.
5.2 The candidate is required to submit the workshop registration form together with registration form for the final examination to MIA with the prescribed fees.
5.3 A candidate is not allowed to defer or change the paper(s) once registered for the same.
5.4 Candidates are required to attend all the workshops in accordance with the workshop group that have been allocated to them. Candidates are not allowed to change their workshop group unless under exceptional circumstances and must be supported by appropriate documentation. Appropriate original documentary evidence must be submitted to the Institute within 5 working days after the conclusion of the workshop.
5.5 Candidates can be barred from presenting themselves for the final examination if found to commit any misconduct during the workshops, subject to the discretion of the Examination Committee. Misconduct includes, inter alia:-
  1. aiding, or attempting to aid another candidate or obtaining , or attempting to obtain aid from other candidate
  2. failing to obey any instructions of the facilitators
  3. giving false or misleading information to the facilitators
  4. Plagiarism.
6.1 The Institute’s Qualifying Examinations will be held twice every calendar year. The examination dates and the closing date will be uploaded on the MIA website.
6.2 Application for the Qualifying Examination shall be submitted to the Examination Committee in the prescribed form together with a copy of Certificate of Candidacy. Application forms are available at the Institute’s Secretariat at the MIA Office. The forms are also available on the MIA website.
6.3 The application must be accompanied by the prescribed fees payable for the examination.
6.4 Upon receiving the application form, the Examination Committee will issue the examination docket stating the examination number, subjects entered for, date of the examination and the venue of the examination centre. The announcement of the issuance of the examination docket will be made on the MIA website. The docket serves as authority for the candidate to enter the examination hall.
6.5 A candidate is not allowed to defer or change the paper(s) once registered for the same.
7.1 Registration fee
The applicant is required to pay the following upon submission of the application form :-
  1. Processing fee as prescribed by the Institute (non-refundable) and
  2. Candidacy fee as prescribed by the Institute (valid for 2 years from the date of approval issued by the Examination Committee as stated in the Certificate of Candidacy)
    For those whose applications are rejected by the Examination Committee or withdrawn by the applicants, MIA will refund the candidacy fee only.
7.2 Workshop Registration Fee
The candidate is required to pay the workshop registration fee as prescribed by the Institute.
7.3 Final Examination Fee
The candidate is required to pay the final examination fee as prescribed by the Institute.
7.4 Withdrawal from the Qualifying Examination.
Candidate who wants to withdraw from sitting the Qualifying Examination is required to submit withdrawal for both registrations; MIA QE Workshop and Final Examination as specified in paragraph 7.5 and 7.6.
7.5 Refund of Workshop Registration Fee
  7.5.1 If a candidate withdraws his entry after the payment of the workshop registration fees, the fees may be partly refunded as follows:
  1. A candidate whose request to withdraw from a workshop is received within five working days BEFORE the closing date of acceptance of entries will obtain a refund of the fee paid for the workshop less a sum equivalent to 20% of the fee paid subject to a maximum of RM1,000.00.
  2. A candidate whose request to withdraw from a workshop is received AFTER the closing date for acceptance of entries will not be entitled to any refund of the fee paid, except that the Examination Committee may:-
    1. on receipt of satisfactory medical evidence grant a refund, if any, to a candidate who, by reason of illness, withdraws from the workshop after the closing date or who is absent from the workshop for which he has entered;
    2. grant a refund, if any, in such other circumstances as the Examination Committee may deem fit.
      An application for a refund of fees under para 7.5.1 (b) (i) and (ii) must be received by the Examination Committee with supporting evidence.
  7.5.2 If the candidates withdraw from the MIA QE Workshops after the commencement of the workshops, the workshop evaluation marks obtained in the MIA QE Workshop(s) will be disregarded.
7.6 Refund of Final Examination Fees
  7.6.1 If a candidate withdraws his entry or fails to attend the examination in one or more papers after the payment of the examination fees, the fees may be partly refunded as follows:-
  1. A candidate whose request to withdraw from an examination is received within five working days BEFORE the closing date of acceptance of entries will obtain a refund of the fee paid for the examination less a sum equivalent to 20% of the fee paid subject to a maximum of RM200.00.
  2. If a candidate is unable to sit for the examination and notifies the Examination Committee as such AFTER the closing date for acceptance of entries, the candidate will not be entitled to any refund of the fee paid, except that the Examination Committee may:-
    1. on receipt of satisfactory medical evidence grant a refund to a candidate who, by reason of illness, withdraws from an examination after the closing date or who is absent from all the papers in an examination for which he has entered;
    2. grant a refund in such other circumstances as the Examination Committee may deem fit.
       An application for a refund of fees under para 7.6.1 (b) (i) and (ii) must be received by the Examination Committee, with supporting evidence, within 28 days from the commencement of the examination for which the candidate is scheduled to sit. A sum equivalent to 20% of the fee paid subject to a maximum of RM200.00, will be deducted from the fee paid when the refund is made.
  7.6.2 For the purpose of para 7.6.1 above, the notice for the closing date for acceptance of entries for each examination shall be announced on the MIA website.
8.1 All candidates must adhere to the Examination Regulations as determined by the Examination Body from time to time.
8.2 It is the duty of the Examination Body to investigate and submit a report to the Examination Committee all cases of misconduct in connection with an examination. Misconduct includes, inter alia:-
  1. being in possession of any books, notes or other unauthorised material while in the examination room;
  2. aiding, or attempting to aid another candidate or obtaining , or attempting to obtain aid from other candidate;
  3. failing to obey any instructions of the invigilators; or
  4. giving false or misleading information to the invigilators.
8.3 The Examination Committee reserves the right to withhold publication of the examination results of a candidate suspected of having been involved in any misconduct in connection with an examination pending inquiry into the alleged misconduct by the Examination Body.
9.1 Announcement of the Examination Results
The Examination Committee shall notify the candidates of the examination results within 60 days from the last day of the respective examination session. The results will also be made available on the website.
9.2 Successful completion of Qualifying Examination
The Examination Committee shall issue a Certificate of successful completion of the Qualifying Examination to the candidates who have passed all the required papers in the Qualifying Examination. The certificate of successful completion shall be proof of the candidate’s completion of the Qualifying Examination as part of the requirements for the purposes of application for an admission to the Institute as a member of the Institute.
9.3 Finality of the Examination Results
The decision of the Examination Committee with regards to candidates’ examination results is final and no correspondence shall be entertained with the candidates themselves, their employers, their parents or any persons or organisations claiming interest therein.
10.1 Candidates who are unsuccessful in any examination paper will be allowed to re- sit for the respective paper subject to paragraph 11. The candidates must apply to re-sit the respective paper by filling up the examination form stating their intention together with the prescribed fees determined by the Examination Committee.
10.2 Candidates who are subject to paragraph 4.10 above are required to ap-ply to re-sit for the final examination in the next immediate sitting. Fail-ure to comply will result in having to register and repeat the MIA QE Workshop.
11.1 A candidate is allowed to sit for a minimum of 1 paper per sitting. All 4 papers should normally be completed within 4 years from the date of the first Certificate of Candidacy.
11.2 In the event the candidate is unable to complete all 4 papers within the first 4 year period of the candidacy, the candidate may apply for extension of time to complete the examination provided that the candidate has passed 1 paper within the first 4 years of the candidacy.
11.3 A candidate who has fulfilled the requirement in paragraph 11.2 shall be allowed to renew their Certificate of Candidacy with the renewal fee for a further extension of 2 years.
11.4 A candidate is required to complete the remaining paper(s) within the next 4 consecutive examination sittings.
11.5 If a candidate fails to complete all the papers within 6 years from the date of the first issuance of the Certificate of Candidacy such candidate shall be deemed to have failed to complete the Qualifying Examination.
11.6 In the event of paragraph 11.5 as above, any subsequent application by such candidate for re-registration under paragraph 7.1 of this Guideline shall be considered as a fresh application by the Examination Committee without any further consideration of the papers that the candidate may have sat for and successfully passed in any previous attempt to undertake the Qualifying Examination.
11.7 A candidate who has never sat for any examination paper within the first 4 years would be able to apply for another 4 years of candidacy only.

Candidates who require special arrangements to sit for the examination should make an application for such arrangements 3 weeks from the date the examination is scheduled to be held. The application should be supported by a doctor’s report in writing, describing the nature of the candidate’s condition and an indication of any special arrangements deemed appropriate.

Any changes or revisions in the guidelines will be notified to the candidates in the MIA website



Part Two - Examination Syllabus

The MIA Qualifying Examination shall consist of four (4) papers as listed below:-

1.1 Business and Company Law
1.2 Auditing and Assurance Services
1.3 Taxation
1.4 Advanced Financial Accounting and Reporting

The syllabus for each examination paper is designed to assess candidates’ knowledge and skills in the respective area of study. In order to assist the examiners to achieve this objective and students in their preparation for the examination, a specification grid has been drawn up for each paper indicating the relative weightings of the main sections of the syllabus. Each topic of the syllabus is divided into a number of areas according to the level of knowledge (ranging from A to C) as shown against each area to indicate the depth at which candidates can expect to be examined.

Level A A thorough and detailed knowledge and substantial comprehension, together with the ability to solve problems where candidates have to select the information required from the fairly unstructured data provided and exercise professional judgement.
Level B A detailed knowledge of the principles, concepts and techniques with the ability to solve problems where the information needed is clearly indicated.
Level C An overview or current awareness only.
3.1 Legislation
Questions involving knowledge of legislation will be based on Malaysian legislation and candidates are expected to have knowledge of any current changes in legislation. However no questions on new legislation will be set until at least six (6) months have elapsed since the last day of the month in which Royal Assent was given to the new legislation.
3.2 Technical Pronouncements
Candidates are expected to have a detailed knowledge of and capable of answering questions in respect of the approved accounting standards, approved auditing standards, generally accepted accounting principles, generally accepted auditing standards, exposure drafts, regulations and legislation relating to financial accounting, reporting and auditing.

Questions involving knowledge of new approved accounting standards, approved auditing standards and exposure drafts will not be set until at least 6 months have elapsed since the last day of the month in which the statement became effective or was published.

Notes
  1. Approved Accounting Standards

    Approved Accounting Standards comprise of:
    1. Accounting Standards and other technical pronouncements issued by the Malaysian Accounting Standards Board (MASB); and
    2. MASB Approved Accounting Standards which comprise of the International Accounting Standards (IAS) and the Malaysian Accounting Standards (MAS) issued by MIA and MICPA, which have not been replaced by MASB Standards.

    Statements issued by the Council of the MIA relating to accounting are to be regarded as opinions on best current practice and thus form part of generally accepted accounting principles (GAAP).

  2. Approved Auditing Standards

    Approved auditing standards comprise of:
    1. International Standards on Auditing (ISA) and Related Services approved and issued by MIA; and
    2. Malaysian Standards on Auditing (MSA) issued by MIA.

    International Auditing Practice Statements (IAPS) approved and issued by MIA are to provide practical assistance to auditors in implementing the standards or to promote good practice. These Statements are not intended to have the authority of Standards.

    Statements issued by the Council of the MIA relating to auditing are to be regarded as opinions on best current practice and thus form part of generally accepted auditing standards (GAAS).

INTRODUCTION

The syllabus comprises 40% Business Law and 60% Company Law. The emphasis is on their practical applications and the impact on the organizations for which the professionals, especially the accountants, bear the responsibility and accountability.

OBJECTIVE

To provide a sound knowledge of the core elements of Malaysian Business Law together with a thorough understanding of the Malaysian Company Law and its regulations with their applications in the management and administration of companies to the best interest of society and the profession.

LEARNING OUTCOMES

Upon successfully completing the course, candidates should be able to:

  • demonstrate a sound understanding of the legal aspects of the law affecting businesses
  • explain the principles of Malaysian Business Law and Company Law
  • apply the principles of law in the business environment through reasoning abilities
  • analyse the importance of good corporate governance and ethics

Description: Business and Company Law Syllabus
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INTRODUCTION

This course is designed to enable the candidates to understand the nature and objectives of audit in general as well as audit procedures, techniques and reporting. It would also help the candidates to be able to identify and assess the audit risks involved in various situations.

Candidates are expected to apply their knowledge of the subject matters covered in this course as well as related courses like Financial Accounting and Company Law and Practice in resolving issues relating to audit of financial statements and other audit related and assurance services.

Candidates are also expected to have knowledge of the clarified auditing standards, guidelines and technical releases pronounced by MIA.

OBJECTIVE

To equip candidates with knowledge and understanding of the audit process and report when performing the audit of financial statements including consideration of other issues relating to provisions of audit-related and assurance services.

LEARNING OUTCOMES

Upon successfully completing the course, candidates should be able to:

  • Explain the nature, purpose, scope and issues relating to auditing and provisions of audit-related and assurance services.
  • Explain the auditor’s professional responsibilities on the professional conduct and ethics and the auditor’s legal liabilities in the context of financial statements audit
  • Identify audit risks through the understanding and evaluation of Internal Controls
  • Determine the nature, timing and extent of substantive audit procedures to obtain sufficient and appropriate audit evidence to support audit opinion.
  • Identify and apply techniques employed in the various stages of the audit process to verify the financial statement items.
  • Evaluate auditing in a computerized information system (CIS) environment and the use of Computer Assisted Audit Techniques (CAATs) as an audit tool.
  • Prepare appropriate reports for the respective users.

Description: Auditing and Assurance Services Syllabus
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INTRODUCTION

This course is designed to develop an understanding among candidates of the concepts and principles of personal, business and corporate income taxation, taxation of specialised entities, withholding taxes, etc. Besides these, legislation relating to real property gains tax and investment incentives will also be covered.

Candidates are expected to display an understanding of the impact of all major taxes on the transactions of individuals, companies and special undertakings and be able to identify and discuss the tax issues in a particular situation as well as planning opportunities.

OBJECTIVE

To equip candidates with the knowledge and understanding of the concepts, principles and current tax practices in Malaysia as well as the ability to solve practical problems and to be familiar with aspects of other relevant legislation.

LEARNING OUTCOMES

Upon successfully completing the course, candidates should be able to:

  • Explain how the Malaysian Tax System operates.
  • Determine the taxability of receipts and deductibility of expenses in accordance with the tax legislation.
  • Prepare the computation of tax liability for individuals, companies, trusts, partnerships, limited liability partnerships, estates, clubs, co-operative societies and other specialised businesses.
  • Explain the major tax incentives available to tax payers and investors.
  • Prepare computations of and advice individuals and companies on issues relating to real property gains tax.
  • Explain the application of exemptions and reliefs and advise tax payers accordingly.

Description: Taxation Syllabus
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INTRODUCTION

This course is designed to develop an understanding among candidates of the concepts and principles of financial accounting and reporting for non-private entities.

Candidates are expected to display an in-depth knowledge of financial reporting standards applicable to public entities.

OBJECTIVE

To equip the candidates with knowledge and skill in applying financial reporting standards in preparing financial statements for public companies including group of companies.

LEARNING OUTCOMES

Upon successfully completing the course, candidates should be able to:

  • Explain the regulatory and professional requirements in the preparation and presentation of financial statements.
  • Describe the conceptual framework and its relationship with the preparation and presentation of financial statements.
  • Account for transactions in accordance with the relevant accounting standards in Malaysia.
  • Apply the requirements of financial reporting standards to recognise, measure, present and disclose elements of assets, liabilities, equity, income and expenses.
  • Prepare and present financial statements of group accounts and a single company in accordance with relevant accounting standards.
  • Discuss current issues and future directions of financial accounting and reporting particularly in Malaysia.

Description: Advanced Financial Accounting and Reporting Syllabus
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