Professional Qualifications

Hong Kong Institute of Certified Public Accountants (HKICPA)

In order to become a professional accountant in Hong Kong, one has to obtain full membership with the Hong Kong Institute of Certified Public Accountants (HKICPA) as specified in the . The HKSA is the only statutory body responsible for the licensing of Certified Public Accountants (CPA) and regulation of the accountancy profession in Hong Kong. Full membership may be granted to a person who:

(1) has passed the Society's professional examinations (the HKSA Qualification Programme (QP) or the HKSA/ACCA Joint Examination Scheme prior to 31 December 2001) or
(2) has acquired the full membership status of an overseas accountancy body recognised by the Society's Council as listed below and
(3) has satisfied the specific accountancy experience requirement (i.e., 3 years for recognised degree holders; 4 years for recognised diploma holders; 5 years for other qualifications)

Mutual Recognition Agreement (MRA)

In May 2000, the HKSA signed MRAs with CPA Australia (formerly the Australian Society of Certified Practising Accountants) and the Association of Chartered Certified Accountants (ACCA). The agreements enable HKSA members who have completed the QP to apply for membership of the respective bodies.

Recognised Overseas Accountancy Bodies

The following are the overseas accountancy bodies recognised by the Hong Kong Society of Accountants:

Qualification Programme (QP)

The HKSA Qualification Programme (QP) has been launched since 1999. It reflects the most up-to-date stance on accounting education and training. Competency-based standards are applied to develop and nurture ¡§forward thinking accountants¡¨. The QP comprises a Professional Programme component and a Final Professional Examination.

Depending on the educational background, there are three paths to become a professional accountant through the HKSA QP:

* Note: The list of accredited degrees and programmes will be updated from time to time. Please contact the HKSA or visit their web site (http://www.hkicpa.org.hk) for the latest list.

What Does The QP Contain?

The QP comprises a Professional Programme (PP) component and a Final Professional Examination (FPE).

The Professional Programme comprises 4 modules:

After successful completion of the four PP modules, candidates will take a 6-hour open book Final Professional Examination (taken in two sessions of 3 hours each).

The FPE tests candidates¡¦ ability to integrate knowledge and skills from any part of the PP syllabus and apply these across all fields of competency, demonstrating a level of skills appropriate to a professional practitioner. The whole course will take at least one year to complete.

Other Professional Bodies

The Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA) and the Hong Kong Association of Accounting Technicians (HKAAT) also conduct examinations for candidates locally.

The HKAAT conducts professional examinations for accounting technicians whose employment wholly or partly comprises accounting work but who have not qualified to be registered under the as professional accountants. Under the new HKSA examination scheme, non-degree holders who wish to join the HKSA Qualification Programme must first obtain the Hong Kong Accounting Technician qualification and then complete the examination or programmes accredited by HKSA which includes the Professional Bridging Examinations, the Foundation Programme offered by The Hong Kong Polytechnic University/ The Open University of Hong Kong or the BA Accounting Degree offered by the Napier University in collaboration with the City University of Hong Kong.

For other professional bodies, students have to go abroad to obtain their qualifications. For further information, interested parties may contact the relevant bodies direct.



The Association of Chartered Certified Accountants (ACCA)

ACCA has statutory power over the auditing, taxation and liquidation matters in the United Kingdom and members of the European Union.

In Hong Kong, the ACCA organises three types of examinations:

I. ACCA Professional Examinations

Entry Requirements

To register as the student of ACCA and sit for the Professional Examinations, one can apply through the following routes:

(1) Business or accounting degree holders with comparable assessed study experience may qualify for exemptions for some or all of the Part 1 or Part 2 examinations; or
(2) Students who have acquired level C of ACCA¡¦s Certified Accounting Technician (CAT) qualification will receive exemption from the Part 1 examinations; or
(3) Aged 18 years or above; passes in 2 HKALE subjects and credits (grade A, B or C) in 3 HKCEE subjects in a total of 5 separate subjects, including English and Mathematics; or
(4) Aged 21 years or above and pass Part 1 papers 1.1 and 1.2 within 2 years (4 consecutive examination sessions) from registration

Examination Syllabus

ACCA conducts examinations in June and December each year. The syllabus contains three parts:

#²Ä¤T³¡¤À

* Candidates can choose the Hong Kong taxation and law papers.

# Candidates have to complete any two of the four papers.

Practical Experience Requirement

To acquire membership of ACCA, in addition to passing the professional examinations, you must:

(1) gain a minimum of three years¡¦ supervised, relevant practical experience
(2) satisfy the minimum competence requirements for membership

Professional and Academic Qualifications

ACCA is recognised by the Hong Kong Institute of Certified Public Accountants (HKICPA) and ACCA members can apply for membership of HKSA to satisfy the statutory requirements to practise in Hong Kong.

In addition, ACCA has developed a partnership with the United Kingdom¡¦s Oxford Brookes University which enables students to obtain a BSc Honours degree in Applied Accounting upon successful completion of Part 2 of the ACCA examinations plus a research and analysis project of 5 000 words and key skills statement of 1 500 words.



II. Certified Accounting Technicians (CAT)

Entry Requirements

(1) Aged 16 years or above; there are no formal academic qualifications necessary; or
(2) Holders of London Chamber of Commerce and Industry (LCCI) or Pitman qualifications or other relevant qualifications or a pass in Principles of Accounts in HKALE may receive exemptions from some of the papers

Examination Syllabus Level A
A1 Transaction Accounting
A2 Office Practice and Procedure

Level B
B1 Maintaining Financial Records and Accounts
B2 Cost Accounting Systems
B3 Information Technology Processes

Level C: Core Papers
C1 Drafting Financial Statements (Industry or Commerce)or C1A Drafting Financial Statements (Public Sector)
C2 Information for Management

Choose any two of the four papers
C3 Auditing Practice and Procedure
*C4 Preparing Tax Computations and Returns
C5 Managing Finances
C6 Managing People

* Candidates can choose Preparing Tax Computations and Returns in Hong Kong.

Practical Experience Requirement

To become a qualified Certified Accounting Technician, one has to demonstrate that, in addition to passing the examinations, one has:

  • obtained at least one year's relevant supervised work experience, which satisfies ACCA competence based experience requirements III. Certified Diploma in Accounting and Finance (CDipAF)

    Entry Requirements

    (1) Holders of a recognised degree or diploma or a non-accounting professional qualification; or
    (2) Individuals of at least 23 years old may be admitted on the basis of their work experience

    Examination Syllabus

    There are two examination sessions each year, in June and December. The candidates have to complete a total of four papers:

    1. Interpretation of Financial Statements
    2. Management Accounting
    3. Financial Management
    4. Business Analysis

    Further Study

    Holders of CDipAF can receive exemptions in MBA programmes run by some of the universities in UK


    The Chartered Institute of Management Accountants (United Kingdom)

    The Chartered Institute of Management Accountants is the only recognised professional body specialising exclusively in cost and management accountancy in the United Kingdom.

    Student Registration

    To register as a student and to sit for the examinations of the Institute, a candidate is required to fulfil the following conditions:

    (1) Possess a university degree; or
    (2) 2 passes in HKALE or in GCE Advanced Level Examination and 3 passes in HKCEE or in GCE Ordinary Level Examination, including English and Mathematics; or
    (3) Attained 3 LCCI Higher Stage Certificates and 2 LCCI Intermediate Stage Certificates in 5 distinct and separate subjects including English and Mathematics; and
    (4) Competence in English and Mathematics must be shown at either level

    Associate Membership

    To qualify as an associate member of the Institute, a candidate is required to fulfil the following conditions:

    (1) Be at least 21 years of age
    (2) Has passed all the examinations of the Institute
    (3) Has at least 3 years' practical experience in management accountancy and related work

    Examination Syllabus

    The examination is held twice a year, in May and November. The syllabus is consisted of three levels:

    Foundation Level
    1. Financial Accounting Fundamentals
    2. Management Accounting Fundamentals
    3a. Economics for Business
    3b. Business Law
    3c. Business Mathematics

    Intermediate Level
    4. Finance
    5. Business Taxation*
    6. Financial Accounting*
    7. Financial Reporting
    8. Management Accounting ¡VPerformance Management
    9. Management Accounting ¡VDecision Making
    10. Systems & Project Management
    11. Organisational Management

    Final Level
    12. Management Accounting ¡VBusiness Strategy
    13. Management Accounting ¡VFinancial Strategy
    14. Management Accounting ¡V Information Strategy
    15. Management Accounting ¡VCase Study

    * Candidates can elect to sit this exam with either the UK Accounting Standards format or the International Accounting Standards format.

    The Hong Kong Association of Accounting Technicians (HKAAT)

    Starting from 1995, the Hong Kong Association of Accounting Technicians (HKAAT) introduced its own local examination scheme ¡V Accounting Technician Examinations. Subsequently in June 1997, it launched the Bookkeeping and Accounts Examination, the Computerised Accounts Examination in December 2000 and later in December 2002, the Professional Bridging Examinations.

    I. Accounting Technician Examinations

    The Accounting Technician Examinations aim to provide an accounting education and examination system which matches the needs of the Hong Kong environment. In addition, the Examinations offer students the opportunities to progress to register for the HKSA's Qualification Programme after completing additional examinations or programmes accredited by HKSA.


    Entry Requirement

    Anyone who has attained the age of 16 may register as students of the Association. Only registered students may take the HKAT Examinations.


    Examinations Syllabus

    Paper 1 Financial Accounting
    Paper 2 Business Communication
    Paper 3 Cost Accounting
    Paper 4 Statistics and Information Technology
    Paper 5 Hong Kong Taxation
    Paper 6 Hong Kong Business Law
    Paper 7 Advanced Accounting
    Paper 8 Auditing

    Qualifications and Further Progression

    Upon successful completion of the Accounting Technician Examinations, students will be awarded with a Certificate. Graduates may register as a student of the HKSA under the Qualification Programme after completion of the Professional Bridging Examinations, the Foundation Programme or an accounting degree accredited by the HKSA.

    The route for Non-Degree holders wishing to qualify as a professional accountant under the new Professional Programme is as follows:

    Professional Accountant

    Complete the HKSA Qualification Programme plus appropriate working experience

    Register with HKSA as a student

    Complete the following examination or programmes accredited by HKSA: Professional Bridging Examinations
    or Foundation Programme offered by The Hong Kong Polytechnic University or The Open University of Hong Kong
    or BA Accounting Degree offered by Napier University in collaboration with the City University of Hong Kong

    HKAAT Graduate

    Complete the eight HKAAT papers through examination or exemption

    Register with HKAAT as student

    Aged 16 or above


    II. Professional Bridging Examinations

    In 2002, the HKSA and HKAAT launch the Professional Bridging Examinations (PBE) for sub-degree holders who have completed the Accounting Technician Examinations.

    The PBE is specially developed for HKAAT graduates, giving them a direct alternate route to meet the HKSA Qualification Programme (QP) admission requirements and to become a recognised professional accountant.


    Examination Syllabus

    Paper I - Financial Reporting
    Paper II - Management Accounting (including Management Information Systems)
    Paper III - Financial Management (including Economics and Statistics)
    Paper IV - Legal Environment

    Upon successful completion of the PBE, the student's eligibility for QP admission will be certified.


    III. Book-keeping and Accounts Examination

    The Bookkeeping and Accounts Examination has been operated by the Association since 1997 to give students or working adults a recognised qualification on Book-keeping and Accounts. While the examination is set in English, a Chinese paper has been available since June 1998. Secondary 5 students and above who have studied Principles of Accounts and working adults who wish to acquire a basic accounting qualification can apply to take the Examination which is organised in June and December each year. Candidates who have obtained a credit or above in the Book-keeping and Accounts Examination can be exempt from Paper 1 ¡V Financial Accounting in the Accounting Technician Examinations.


    IV. Computerised Accounts Examination

    The Computerised Accounts Examination was introduced in 2000 to give working adults a recognised qualification on Information Technology (IT) skills in operating accounting software. Today, many companies and organisations in Hong Kong operate computerised accounting systems and there have been rapid developments in the application of IT in the business environment. This examination is particularly useful to accounting clerks who are interested in further career development and enhancement in this aspect.


    Certified Accounts Clerk Qualification

    The Certified Accounts Clerk certificate is another qualification established by the Association in 2000 to accredit accounts clerks who possess an adequate knowledge of accounting concepts and skills to operate computerised accounting systems. This is an entry level accounting qualification which is designed to facilitate career development and enhancement of junior accounting staff in Hong Kong.

    Upon completion of both the Book-keeping and Accounts Examination and the Computerised Accounts Examination, candidates will be awarded the Certified Accounts Clerk qualification.

    Certified Accounts Clerk

    Bookkeeping and Accounts Examination + Computerised Accounts Examination

    Where to Obtain Further Information

    You may contact the following organizations for more details of the professional qualifications in the field:


    Hong Kong Institute of Certified Public Accountants (HKICPA)
    4/F, Tower Two, Lippo Centre, 89 Queensway, Hong Kong
    2287 7228
    http://www.hkicpa.org.hk
    hkicpa@hkicpa.org.hk

    The Chartered Institute of Management Accountants (CIMA) Hong Kong Division
    Suites 1414-1415, 14/F., Jardine House, Hong Kong
    2511 2003
    http://www.cimaglobal.com

    The Association of Chartered Certified Accountants (ACCA) Hong Kong Branch
    Room 1901, 19/F, World Wide House, 19 Des Voeux Road, Central, Hong Kong
    2524 4988
    http://hongkong.accaglobal.com

    The Hong Kong Association of Accounting Technicians
    17/F, Fortis Bank Tower, 77-79 Gloucester Road, Wanchai, Hong Kong
    2529 9474 Hotline: 2866 7066
    http://www.hkaat.org.hk /
    hkaat@hkaat.org.hk


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