KEY activities carried out by the MonICPA (extracted from the MonICPA Bylaw, Article 13) are as follows:

3.1 Organize CPA Examination in cooperation with the relevant state organization and CPE training for CPAs, offer training courses and seminars for accountants. Development of  the code of ethics for CPAs and those who is in public practice, submission for approval and update, and control over its implementation are also part of its function.

3.2 Translate international accounting standards and develop manuals for approval and update them in cooperation with relevant authority.

3.3 Translate international standards on auditing, and develop and update manual on application of those standards.

3.4 Develop ethical standards in confirmation with those approved by the IFAC and guidance for use by professional accountants, and encourage its enforcement.

3.5 Develop and deliver pre- and post-qualification education programs for accountants to assist them in continually improving their professional conduct, performance and expertise.

3.6  Provide a range of professional literature; research and development of intellectual property on financial and management accounting, auditing, accounting information system, financial management and other subjects.

3.7  To bring results of the CPA examination and the exam for extension of CPA certificate to relevant authority for ratification.

3.8  Promote and protect the lawful professional interest of its members.

3.9  Promote public awareness and advertisement of CPAs and audit firms within the framework of the Code of Ethics.

3.10  Strengthen good standing of CPAs and audit firms within the social life through uniform organization of activities conducted by CPAs and audit firms.

3.11  Search for all potential ways to increase range of services and revenue earned by members, and negotiate with both state and non-state business enterprises in respect of this principle aspect.

3.12  Implement the audit quality review, and submit opinion and report of the review process to relevant central administrative body.

3.13  Retain registration of CPAs, auditors and audit firms and issue Certificates to them, and provide assessment of criteria on professional and legal requirements for candidates who apply for license for the first time to the relevant central administrative body (s).

3.14  Submit the issues which is under general interest of its members to the relevant state administrative body (s), and take appropriate actions relying on their policy.