EASYUNI Ultimate University Guide 2013 July Issue | Page 52

Accountancy Bodies

`Certi?ed Public Accountant
(CPA) is the statutory title of
quali?ed accountants who have
passed the Uniform Certi?ed
Public Accountant Examination
(Uniform CPA Exam) set by the
American Institute of Certi?ed
Public Accountants (AICPA) and
administered by the National
Association of State Boards of
Accountancy (NASBA) and have
met additional state education
and experience requirements.
CPAs primarily provide services
related to assurance services
also known as ?nancial audit
services or public accounting. In
assurance services, CPAs certi?es
the reasonableness of disclosures,
freedom from material
misstatement and the adherence
to the applicable Generally
Accepted Accounting Principles
(GAAP) in ?nancial statements.
As for CPAs employed by corporations, they do not provide
services directly to the public. Some CPAs also serve as business
consultants. CPAs have always been required by professional
standards to maintain independence from the entity for which
they are conducting an attestation.
Malaysia also has its own body of accountants - the Malaysian
Institute of Accountants (MIA) - established 40 years ago to
regulate and develop the accountancy profession in Malaysia.
A few of its responsibilities include education, quality assura