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CA Sri Lanka - CPA Australia MRA

Frequently Asked Questions

for CA Sri Lanka members intending to apply for CPA Australia membership of under the Mutual Recognition Agreement (MRA) with CPA Australia

The MRA provides for Recognition and Examination arrangements for the members of the two Institutes. This agreement would facilitate mobility of members across the borders and further strengthen the ties between Sri Lanka and Australia. The MRA entitles Institute membership without license to practice.

This MRA was effective from 23rd day of September 2013.

  • is a member of good standing and not currently subject to any disciplinary sanctions or investigations and who meets any additional admission requirements, including but not limited to, language proficiency, evidence of good character and payment of fees, as imposed by CPA Australia on application for membership or under law;
  • did not gain entry through another MRA;
  • has successfully completed:
    1. the CA Sri Lanka  exams; and
    2. the CA Sri Lanka practical experience requirements
      AND
    3. is the holder of a degree recognised by the AEI NOOSR as being at least equivalent to Australian bachelor degree level ;or
    4. is not a degree holder but who has at least five (5)years’ work experience in professional accounting.

Once admitted as an ASA, the member will undertake the required CPA Program professional level segment, Ethics and Governance. On successful completion of this segment the member is eligible to apply to CPA Australia for CPA status.

To apply for membership with CPA Australia under the CA Sri Lanka - MRA pathway, the following fees will be applicable:

  • A non-refundable application fee (based on home address):
    • AUSTRALIA -  AU$150  (GST inclusive)
    • NEW ZEALAND – NZ$194 (NZ GST inclusive)
    • ANY OTHER LOCATION –  AU$136

Associate membership fee if application is successful – AU$300

Step 1: Determine your eligibility

Step 2: Complete your application

Step 3: Submit your application

Send your application to:
Member Services - CPA Australia
GPO Box 2820
Melbourne VIC 3001
Australia

Alternatively, you can mail your application to your nearest CPA Australia office.

Step 4: Processing your application

  • certified true copies of 100 points of identification
  • certified true copies of your official degree awards and transcripts
  • certified true copies of your CA Sri Lanka membership certificate and examination results
  • syllabus or course content of university degree
  • letter of good standing from CA Sri Lanka, dated no older than one year prior to the application and containing:
    • the date you joined CA Sri Lanka
    • the CA Sri Lanka syllabus year
    • the date you advanced to your current membership level confirmation that you are not currently subject to any disciplinary sanctions or investigation, and have not been subject to any disciplinary sanctions in the past five years

There is no requirement to undertake any additional training

Nothing in this MRA provides the members of one of the parties with rights to:

  • conduct public accounting services;
  • sign audited financial statements; or
  • act as a tax agent,

in Australia or Sri Lanka or any other country of the world.

The Professional Level of the CPA Program runs on a semester basis, enrolments for semester 1 begin on the 9th December 2013 and materials are dispatched in January 2014, the first semester exams are in the week commencing 28th April 2014. Semester two enrolments open 16th June, materials are dispatched in July and exams are in the week starting 20th October.

Members of CA who have been admitted to CPA Australia membership via the MRA pathway, must complete the Ethics and Governance segment of the CPA Program within two years of admission. Members who are unable to complete the Ethics and Governance segment within the allocated time will be reviewed on a case-by-case basis.

Yes.  Current members of CPA Australia may take advantage of the MRA pathway by completing the CASL-MRA application form and providing a current letter of good standing from CA Sri Lanka.

The British Council, Colombo.

Do you mean a mentor under the Professional Experience Requirement? If so;

Yes. Full members are able to support graduate accountants complete their Professional Experience Requirement.

Mr Aruna Alwis
Secretary /CEO
The Institute of Chartered Accountants of Sri Lanka

Mr. Robert Thomason
Executive General Manager, Business Development
CPA Australia

Yes. To the full extent permitted by Australian and Sri Lankan laws, a member of either CPA Australia or the Institute of Chartered Accountants of Sri Lanka that gains membership of the other under the terms of this MRA must retain membership in his or her original membership body.

  • The CPA Program currently has exam locations in Sri Lanka for all of our members, this will also include members studying Ethics & Governance through a Mutual Recognition Agreement. You can refer to our website for a full listing of current exam venues - exam locations<http://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/pd-cpa-programs-professional-level-exam-locations.html>
  • All CPA Program – professional level segments are open book and held at the locations listed on the website. No CPA Program exam are held online however, we provide almost all of the learning resources for Ethics & Governance online through My Online Learning portal for CPA Australia members

  • All members are able to apply for FCPA status after completing the requirements of becoming a CPA. To be eligible for FCPA status, members must fulfill below criteria.
  • Highly-experienced CPAs can become a Fellow of CPA Australia (FCPA). You must be a CPA with at least 15 years full-time work in accounting, finance or business, including at least five years' experience in an executive position or as a public accountant - FCPA application <http://www.cpaaustralia.com.au/~/media/Corporate/AllFiles/Document/become/fcpa-application.pdf>

  • Members who would like to become a member, but don’t meet any of the requirements for Mutual Recognition Agreement are able to apply for membership through the standard membership assessment. The requirements for becoming a CPA includes holding a degree or postgraduate award recognised by CPA Australia. In conclusion, they would need to complete a degree before advancing to CPA

Frequently Asked Questions for CPA Australia members intending to apply for membership of CA Sri Lanka under the Mutual Recognition Agreement with CA Sri Lanka

The MRA provides for Recognition and Examination arrangements for the members of the two Institutes. This agreement would facilitate mobility of members across the borders and further strengthen the ties between Sri Lanka and Australia. The MRA entitles Institute membership without license to practice.

This MRA was effective from 23rd day of September 2013

  • is the holder of an accounting degree approved by CPA Australia and who has successfully completed:
    1. the CPA Program including the practical experience requirement;
  • is the holder of a non-accounting degree, and who has successfully completed:
    1. an appropriate accounting conversion course approved by CPA Australia; and
    2. the CPA Program including the practical experience requirement;

Yes; CPA Australia member who has completed either Advanced Audit and Assurance or Advanced Taxation and the Strategic Planning module in CA Sri Lanka examination under either of the following conditions.

  1. A CPA Australia members who has not completed Advanced Audit and Assurance as an elective module in the CPA Program is to complete the  Advanced Audit and Assurance module in CA Sri Lanka; or
  2. A CPA Australia member who has completed the Advanced Audit and Assurance as an elective module in the CPA Program is to complete the Advanced Taxation and Strategic Tax Planning module in CA Sri Lanka

There is no requirement to undergo any additional training

Complete and return the prescribed application along with the requisite documents

Registration applications may be submitted online or hard copy, duly signed by the member.

The applicant will then receive from the CA Sri Lanka:

  • a letter confirming CA Sri Lanka registration; and
  • a unique reference number which will be used on all further correspondence.

Following successful registration, application for Associate membership will be issued to each applicant by the CA Sri Lanka

Members should submit their registration application, including all required documentation, to:

The Member Relations Division
The Institute of Chartered Accountants of Sri Lanka,
No. 30A, Malalasekara Mawatha ,
Colombo 07

  • Duly completed Application Form
  • An updated C.V. of the applicant
  • A Certified copy of the Passport/s
    • A certified copy of the Birth Certificate
    • A certified copy of the Marriage Certificate (if any)
    • A certified copy of the Membership Certificate of CPA Australia
    • A Certified Copies of the Examination Results Sheets
    • A copy of the Membership Identity Card of CPA Australia
    • A letter of good standing to confirm your membership and that you have a good disciplinary record. (This letter has to be issued within last three months)

Nothing in this MRA provides the members of one of the parties with rights to Public Practice in Sri Lanka.

Any members wishing to undertake public Practice must obtain such licenses and/or meet such requirements including legislative requirements as may be in force in Sri Lanka at the time. If a CPA Australia member is admitted to CA Sri Lanka membership under this MRA, they will be eligible to apply for a Sri Lanka practicing certificate on the same basis as CA Sri Lanka members.

Members joining the CA Sri Lanka under the CA Sri Lanka / CPA Australia MRA must abide by the Provisions of the Institute of Chartered Accountants Act No. 23 of 1959 (as amended) and the guidelines framed there under from time to time.

Yes.

Yes. To the full extent permitted by Australian and Sri Lankan laws, a member of either CPA Australia or the Institute of Chartered Accountants of Sri Lanka that gains membership of the other under the terms of this MRA must retain membership in his or her original membership body.

The strategic Level exams are conducted in June and December months of each year and applications for examination will be open from March and September respectively.

Associate membership fee if application is successful - LKR 37,500

Mr Aruna Alwis
Secretary /CEO
The Institute of Chartered Accountants of Sri Lanka

Mr. Robert Thomason
Executive General Manager, Business Development
CPA Australia

Click here to download the Application Form