The MoU includes organising joint events focused on professional development. Credit: Andrei_R/Shutterstock.

The Philippine Institute of Certified Public Accountants in Dubai (PICPA Dubai) has signed a memorandum of understanding (MoU) with CPA Australia, reported The Filipino Times.  

This agreement, formalised in Dubai, seeks to enhance mutual collaboration by promoting professional and educational standards and supporting the internationalisation of the accounting profession. 

Signatories of the MoU include PICPA Dubai founder and chairman Lyndon Magsino and CPA Australia chief member experience officer Rowena Buddee.  

This partnership represents an advancement in the growth of Filipino CPAs in the UAE, ensuring they are well-equipped for the evolving landscape of the accounting profession. 

The MoU includes organising joint events focused on continuous professional development, as well as information sessions to share knowledge about the accounting and finance sector.  

Furthermore, the agreement provides Filipino CPAs the opportunity to be exempted from three out of six CPA Australia exams, based on their Philippine CPA license and relevant work experience. 

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The two organisations will work together on information sessions to detail the process for becoming a licensed CPA in Australia.  

Founded in February 2017, PICPA Dubai has grown to include more than 1,000 members, comprising CPAs, auditors, and finance professionals.  

It offers training and seminars on various topics, and has recently received a Special Award for its performance as an International Affiliate.  

In November 2024, Chartered Accountants Australia and New Zealand (CA ANZ) and CPA Australia expressed their concerns regarding the revised guidance for the Payment Times Reporting Scheme (PTRS). 

The PTRS aims to improve payment times for small businesses in Australia by requiring that large businesses and certain government enterprises report on their payment terms and practices.