The Mongolian Institute of Certified Public Accountants
since 1994…

 The Mongolian Institute of Certified Public Accountants is very proud of representing almost 3000 individual members and over 90 member bodies at:

- associate member in 2003
- a member in 2012
  IFAC or International Federation of Accountants which has 173 members and associates in 129 countries, and represents over 2.5 million accountants
full member in 2000



CAPA or Confederation of Asian and Pacific Accountants with 31 accounting bodies from 23 countries to which the MonICPA is being an ordinary member since 2000.


1.    About the IFAC

The International Federation of Accountants

The International Federation of Accountants was founded on October 7, 1977, in Munich, Germany, at the 11th World Congress of Accountants. Beginning with 63 founding members from 51 countries in 1977, IFAC's membership has grown to now 2.84 million include 175 members and associates, in 130 countries and jurisdictions worldwide. Overall direction and administration is provided by the IFAC Secretariat headquartered in New York.

IFAC Mission

IFAC’s mission is to serve the public interest by: contributing to the development of high-quality standards and guidance; facilitating the adoption and implementation of high-quality standards and guidance; contributing to the development of strong professional accountancy organizations and accounting firms and to high-quality practices by professional accountants, and promoting the value of professional accountants worldwide; and speaking out on public interest issues.

IFAC Vision

IFAC’s vision is that the global accountancy profession be recognized as a valued leader in the development of strong and sustainable organizations, financial markets and economies.

IFAC Governance

Ultimate governance of IFAC rests with the IFAC Council, which comprises one representative from each member. The Council meets once a year and is responsible for deciding constitutional and strategic matters and electing the Board.

Operations

Overall direction and administration is provided by the IFAC Secretariat headquartered in New York. IFAC is staffed by accounting professionals from around the world.

IFAC Boards & Committees

The IFAC has the following 4 Boards which is responsible for development of standards in the areas of auditing, education, ethics, and public sector financial reporting:

·         International Auditing and Assurance Standards Board (formerly the International Auditing Practices Committee)

·         International Accounting Education Standards Board (formerly the Education Committee)

·         International Ethics Standards Board for Accountants (formerly the Ethics Committee)

·         International Public Sector Accounting Standards Board (formerly the Public Sector Committee)

Committees and Advisory Panel:

·         Professional Accountancy Organization Development Committee (formerly Developing Nations Committee)

·         Nominating Committee

·         Professional Accountants in Business Committee (formerly the Financial and Management Accounting Committee and originally established as the Management Accounting Committee)

·         Small and Medium Practices Committee

·         Transnational Auditors Committee

IFAC is led by its President, who is nominated by a member body and appointed by the IFAC Council. IFAC's current President is Warren Allen, who will serve as President until November 2014 was elected in November 2012 in Cape Town, South Africa.

·         Compliance Advisory Panel 

The Compliance Advisory Panel (CAP) oversees and provides advice to IFAC Compliance staff regarding the implementation and operation of the IFAC Member Body Compliance Program, recommendations to the IFAC Board about membership applications, and collaboration with Regional Organizations and Accountancy Groupings.

 

MonICPA and IFAC

  • Associate member- Annual General meeting , Singapore, 2003.11.12-14
  • Full member- Annual general meeting, Cape town, South Africa, 2012.11.16
  • Meeting with IFAC executives, New York, USA, 2003.11.01-10,. /L.Dondog, L.Badamkhand/
  • 17th World congress of accountants, Istambul, Turkey 2006.11.14-17/67 delegates/
  • 18th World congress of accountants, KL, Malaysia, 2010.11.8-12 /63 delegates/
  • CEO Ch. Chimidsuren made speech on MonICPA’s experience on seminar, Dubai, United Arab Emirates,  2012.02
  • 19th World Congress of accountants, Rome, Italy 2014.11.10-13 -/104 delegates/

2.   About the CAPA

Confederation of Asian and Pacific Accountants

The idea of CAPA was conceived at the First Far East Conference of Accountants that was held from November 28 to December 1, 1957 in Manila, Philippines. However, it was only in 1976 that the Confederation of Asian and Pacific Accountants was formally established.

The Confederation of Asian and Pacific Accountants (CAPA) represents national professional accounting organizations in theAsia-Pacific region. Today, CAPA has a membership of 32 accountancy organizations in 23 jurisdictions. CAPA is by far the largest regional accountancy organization and its geographical area spans half the globe!

Governance
Members elected to the Board will serve the period between one Assembly and the next (normally a 4-year term).

The President and Deputy President is elected from within the Board and serve one-half of the period between one Assembly to the next, respectively (normally a 2-year term). When the Deputy President steps up as the President, a new Deputy President is elected from within the Board.

CAPA has a permanent Secretariat and an office based in Kuala Lumpur, Malaysia. The Secretariat serves to carry out the policies and directions of the Board, and is proactive in its functions. The Secretariat is headed by Brian Blood as the Chief Executive who reports to the Board.

Vision - for the Profession in the region                                                      
A relevant and respected accounting profession, trusted and valued by governments and businesses, and recognized for contributing to the development of sustainable financial markets and economies.


Vision - for CAPA (as an organization)
An inspirational leader for the accounting profession in the region.


Mission
The mission of CAPA is to develop, coordinate, and advance the accounting profession in the region, by:

  • Contributing to the formation and development of strong and sustainable professional accounting organizations capable of providing and maintaining accountants to effectively meet the needs of the country in which they operate
  • Fostering a cohesive accounting profession within the region, by facilitating the development of relationships and sharing of knowledge amongst professional accounting organizations
  • Promoting the benefits of high quality financial management and reporting in public, not-for-profit, and private sectors, including international standards in accounting, audit, ethics, and accounting education
  • Liaising with international, regional, and national organizations to influence the development of efficient and effective capital markets
  • Promoting the value of professional accountants in the region
  • Providing input to, and supporting the global profession in, matters of public interest where the accountancy profession's expertise is most relevant, including establishing and issuing policy positions


Values

The Members and staff of CAPA embrace the following core values:
  • Trust - displaying honesty, transparency, integrity and fairness
  • Respect - recognizing and rewarding each other's contributions and efforts
  • Cooperation - sharing freely, responding promptly
  • Inclusiveness - welcoming to others
  • Positive attitude - working with a commitment to be successful
  • Excellence - doing what we say we will and striving for quality
  • Kaizen - continually improving

Strategy

CAPA has established 3 strategic thrusts:

1. Capacity Building

  • To assist develop Member bodies and their members
  • To assist develop capital markets, liaising and working with other relevant organizations

2. Leadership - the profession

  • To promote the profession to assist Member bodies achieve objectives
  • To promote harmonization through the adoption of IFAC and IASB standards
  • To promote matters in the public interest

3. Leadership - emerging issues

    • To research and develop thought leadership arising from changing economic, political or social factors

The strategy is achieved through two main avenues, "Meetings" and "Initiatives". Meetings provide the means for members to build relationships, exchange knowledge, and debate pertinent issues; whilst initiatives allow specific matters or activities to be researched or implemented.

MonICPA and CAPA

·         At 15th CAPA Conference received Full membership certificate, Philippines, Manila 2000 November 08-12

·         “Train the Trainers” regional seminar, Hanoi, Vietnam 2002 September 08-13

·         Former Vice President L.Enkh-Amgalan made a presentation at regional IFRS conference, Tokyo, Japan, 2007

·         Former President L.Dondog made a speech at 17th CAPA Conference, Osaka, Japan, October, 03-05, 2007

·         IFRS for SME Project, the round table discussion, Bangkok, Thailand, May 30- June 02, 2008

·         IFRS for SME seminar, Kuala Lumpur, January 20-22, 2010

·         Former CEO L.Enkh-Amgalan made a presentation at the Meeting of Asian-Oceanian Standard-Setters Group (AOSSG) Tokyo, Japan, September 28-October 02, 2010

·         CAPA Strategy Committee Meeting, Ulaanbaatar, Mongolia, 14th of July, 2011

·         President, Vice President, and CEO of CAPA visited MonICPA.

  • The project  “Program to Strengthen Accounting Capacity aimed at Improving CPD Systems”  finaced by World Bank was started 1st semester of 2014 and finished in December 2015.

 MonICPA and other professional accountancy bodies

 Made MOU with following professional bodies:

  • With Institute of Chartered Accountants of India in 2009
  • With Australian CPA in 2010
  • With Philippine Institute of CPA in 2012
  • With ACCA in 2013
  • With Korean Institute of CPA in 2015