The ASEAN Federation of Accountants (AFA) has released its 2016 Annual Report which has revealed an increase in membership between 2012 and 2016 for almost all primary members.
The highest increase in membership over the last five years was recorded by the Federation of Accounting Professions (FAP) of Thailand which has increased from 54,319 to 71,128 between 2012 and 2016. The Institute of Indonesia Chartered Accountants (IAI) was a close second by gaining 16,000 members in the same period.
Other members such as the Institute of Singapore Chartered Accountants (ISCA) gained 6,000 members, the Malaysian Institute of Accountants (MIA) gained 3,000 and the Vietnam Association of Accountants and Auditors (VAA) increased by 2,000.
However, the Philippine Institute of Certified Public Accountants (PICPA) in contrast to all other members halved its membership in the same period from 22,567 to 10,528. Nine thousand members were lost in just the year 2015 to 2016 alone.
Primary and associate members of the AFA include professional bodies across the ASEAN and Asia Pacific regions.