The Institute of Chartered Accountants in England and Wales today signed a Memorandum of Understanding (MoU) with the Myanmar Institute of Certified Public Accountants (MICPA) to work more closely together.

The agreement was signed in Yangon, Myanmar by ICAEW south-east Asia regional director Mark Billington and MICPA chairman Kyaw Tin, witnessed by UK minister of state for trade and investment Lord Green.

The MoU establishes a framework for the two bodies to develop talent and advance the profession in Myanmar and south-east Asia. ICAEW and MICPA will share views about the profession both nationally and internationally, cooperating in areas such as corporate governance, professional ethics, technical research, continuing professional development, professional accountancy training, quality control, education and examinations.

The bodies will also create a framework for MICPA to review and advance its strategy and plans and develop learning programmes in areas of mutual interest, such as International Financial Reporting Standards, International Standards on Auditing and audit firm governance.

ICAEW south-east Asia regional director Mark Billington said: "Myanmar is an emerging and fast-growing economy with many opportunities and great potential for development. ICAEW hopes to use its global experience to support the profession in Myanmar by developing joint programmes and supporting further learning in areas of mutual interest to MICPA members and ICAEW chartered accountants".

MICPA chairman Kyaw Tin said: "We are delighted to be working with ICAEW, a world leader in the field of accountancy and finance. With Myanmar’s economy becoming more international, companies will be looking for accounting professionals with internationally-recognised accreditation. This agreement cements our commitment to enhancing our members’ capacities and professionalism."

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