Professional accountants in order for them to

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Unformatted text preview: untants [Issued January 2007] PART II: BY-LAWS ON PROFESSIONAL CONDUCT AND PRACTICE 410.3 CPE learning activities are those learning activities that develop and maintain capabilities to enable professional accountants to perform competently within their professional environments. Participation in CPE learning activities is therefore vital in maintaining high standards and public confidence in the profession. 410.4 All professional accountants are required to complete at least 120 CPE credit hours of relevant CPE learning for every rolling 3 calendar year period, of which 60 CPE credit hours should be structured and verifiable, and at least twenty (20) CPE credit hours of such structured and verifiable CPE learning should be obtained each calendar year. Accredited structured and unstructured CPE learning activities are shown in Appendix V to the By-Laws. The application of these requirements to professional accountants who have been admitted as members at different periods is set out in Appendix VI to the By-Laws. 410.5 Any failure to maintain and improve professional competence is a violation of one of the fundamental principles of the profession and can result in disciplinary action. It is unfair to the majority of professional accountants who comply with the CPE requirements to allow those who do not comply to claim the same status or competencies. NOTE: The above provisions are based substantially on the provisions in the International Education Standard (IES) 7 issued by IFAC. Continuing Professional Education Audit 410.6 A CPE audit will be conducted by the Institute on a sample of professional accountants who will be selected at random from the Institute’s records. During each CPE audit, the randomly selected professional accountants will be required to produce evidence of their compliance with the CPE requirements set out in section 130 of Part I of the By-Laws. 410.7 Professional accountants are required to maintain records of their compliance with the CPE requirements set out in section 410 above. 410.8 Professional accountants are required to tender the appropriate evidence of such compliance if called upon to do so pursuant to paragraph 410.6. 114 By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants [Issued January 2007] PART II: BY-LAWS ON PROFESSIONAL CONDUCT AND PRACTICE 410.9 The Council may in its absolute discretion, grant a temporary or partial exemption from the CPE requirements for the following reasons (a) prolonged illness or disability; and/or (b) any other reason as may be determined by the Council. 410.10 An application made pursuant to paragraph 410.9 should be in writing and supported by a certificate from a licensed physician or hospital in the case of subparagraph (a), or supported by any other relevant documents in respect of subparagraphs (b), wherever appropriate. Such application should be made no later than 30 days after the professional accountant is selected for the CPE aud...
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