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  • Reflection Paper CMAM

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    MaryWyleneAmparado
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    The document discusses the impact of ASEAN integration on the accountancy profession. It begins by providing background on ASEAN, the organization of 10 Southeast Asian countries formed in 1967 to promote economic growth. A key program is the ASEAN Economic Community Blueprint, which envisions an integrated economic region by 2015 with the free flow of goods, services, and labor. This integration will impact the accountancy profession through the ASEAN Mutual Recognition Agreement. The MRA will standardize accountancy education across ASEAN countries and improve professional licenses so accountants can practice across borders. It also stresses the importance of experience and compliance with international standards to facilitate overseas employment of accountants. The document concludes that ASEAN economic integration will boost the Philippines' economy

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    A reflection paper about the ASEAN Integration and its impact to the accountancy profession

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    The document discusses the impact of ASEAN integration on the accountancy profession. It begins by providing background on ASEAN, the organization of 10 Southeast Asian countries formed in 1967 to promote economic growth. A key program is the ASEAN Economic Community Blueprint, which envisions an integrated economic region by 2015 with the free flow of goods, services, and labor. This integration will impact the accountancy profession through the ASEAN Mutual Recognition Agreement. The MRA will standardize accountancy education across ASEAN countries and improve professional licenses so accountants can practice across borders. It also stresses the importance of experience and compliance with international standards to facilitate overseas employment of accountants. The document concludes that ASEAN economic integration will boost the Philippines' economy

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    © All Rights Reserved
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    6 views2 pages

    Reflection Paper CMAM

    Uploaded by

    MaryWyleneAmparado
    The document discusses the impact of ASEAN integration on the accountancy profession. It begins by providing background on ASEAN, the organization of 10 Southeast Asian countries formed in 1967 to promote economic growth. A key program is the ASEAN Economic Community Blueprint, which envisions an integrated economic region by 2015 with the free flow of goods, services, and labor. This integration will impact the accountancy profession through the ASEAN Mutual Recognition Agreement. The MRA will standardize accountancy education across ASEAN countries and improve professional licenses so accountants can practice across borders. It also stresses the importance of experience and compliance with international standards to facilitate overseas employment of accountants. The document concludes that ASEAN economic integration will boost the Philippines' economy

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    AMPARADO, Mary Wylene F.

    CMAM232 AC21
    ASEAN Integration: Impact to Accountancy Profession
    The Association of Southeast Asian Nations (ASEAN) is an organization
    of 10 countries Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia,
    Myanmar, Philippines, Singapore, Thailand, and Vietnam in Southeast Asia
    which was officially formed in 1967. This organization is set up to accelerate
    economic growth, social progress and cultural development among its
    member countries and to provide assistance to each as well.
    There are many programs implemented and proposed by this
    organization

    which

    includes

    the

    ASEAN

    Economic

    Community

    (AEC)

    Blueprint. This blueprint envisioned an integrated economic region by 2015


    which is marked by the free flow of goods, services, and labor between
    member countries. With this program, a lot of things with regards to our
    economy are affected, including the Accountancy Profession under the
    ASEAN Mutual Recognition Agreement (MRA). There will be changes in what
    they considered as the five elements of this profession. They would start
    focusing on the education in the said profession because, according to them,
    it is the most important among the elements and may have the most impact
    when improved. They would also be improving the licenses so that
    professionals from our country will be able to practice their profession in the
    member countries and vice versa. The MRA also pointed out that experience
    is an important element in the profession since accountants are expected to
    demonstrate competency in their profession. It also aims to achieve full
    compliance with IFAC Standards and guidelines which would help a lot in the
    employment of accountants overseas.
    With these programs of the ASEAN, and the Philippines as one of the
    member countries in this organization, I think that the economy of our
    country will grow and will become more competitive with other countries. I

    also think that the MRA is a big opportunity for a lot of professionals,
    especially Accountants for their future endeavors and for a more successful
    career.

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