Common use of ASEAN CHARTERED PROFESSIONAL ACCOUNTANT COORDINATING COMMITTEE Clause in Contracts

ASEAN CHARTERED PROFESSIONAL ACCOUNTANT COORDINATING COMMITTEE. 7.1 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be established and shall have the authority to confer and withdraw the title of ASEAN Chartered Professional Accountant (ACPA). This authority may be delegated in writing from time to time by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) to the Monitoring Committee (MC) in each participating ASEAN Member States. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall comprise of one appointed representative from each Monitoring Committee (MC) of the participating ASEAN Member States. The functions of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall include: Facilitating the development and maintenance of the ASEAN Chartered Professional Accountants Register (ACPAR); Promoting the acceptance of ASEAN Chartered Professional Accountants (ACPAs) in each participating ASEAN Member Country as possessing general technical and professional competence that is substantially equivalent to that of Professional Accountants registered or licensed in the Country of Origin; Developing, monitoring, maintaining and promoting mutually acceptable standards and criteria for facilitating practice by ASEAN Chartered Professional Accountants (ACPAs) throughout the participating ASEAN Member States; Seeking to gain a greater understanding of existing barriers to such practice and to develop and promote strategies to help governments and licensing authorities reduce those barriers and manage their processes in an effective and non- discriminatory manner; Encouraging the relevant government and licensing authorities to adopt and implement streamlined procedures for granting rights to practice ASEAN Chartered Professional Accountants (ACPAs), through the mechanisms available within ASEAN; Identifying and encouraging the implementation of best practice for the preparation and assessment of accountants; and Continuing mutual monitoring and information exchange by whatever means that are considered most appropriate, including but not limited to: sharing of information and regular communication concerning assessment procedures, criteria, systems, manuals, publications and lists of recognised Professional Accountants; and informing all National Accountancy Bodies (NABs) and/or Professional Regulatory Authorities (PRAs), when it has been notified that an ASEAN Chartered Professional Accountant (ACPA) is no longer qualified to undertake professional accountancy practice in the Country of Origin, has not complied with the Continuing Professional Development (CPD) policy of the Country of Origin, or has seriously violated technical, professional or ethical standards either in the Country of Origin or the Host Country, whereby such violations have led to deregistration or suspension from practice or withdrawal from the ASEAN Chartered Professional Accountants Register (ACPAR). The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) may, whenever it deems appropriate, invite the non-participating ASEAN Member States to attend as observers to its meetings. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall report its progress of work to ASEAN Coordinating Committee on Services (CCS). The administration of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be facilitated by a Secretariat. The establishment and funding of the Secretariat shall be decided by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC). General Meetings of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be held at least once in each two (2) year period to deal with applications for emplacement on the ASEAN Chartered Professional Accountant Register and/or applications by Monitoring Committees to review the Guidelines on Criteria and Procedures (Appendix II), Assessment Statement (Appendix Ill), Assessment Statement Flowchart (Appendix V) and other related guidelines, procedures and documentation, and recommend any amendments.

ASEAN CHARTERED PROFESSIONAL ACCOUNTANT COORDINATING COMMITTEE. 7.1 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be established and shall have the authority to confer and withdraw the title of ASEAN Chartered Professional Accountant (ACPA). This authority may be delegated in writing from time to time by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) to the Monitoring Committee (MC) in each participating ASEAN Member States. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall comprise of one appointed representative from each Monitoring Committee (MC) of the participating ASEAN Member States. . 7.2 The functions of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall include: : 7.2.1 Facilitating the development and maintenance of the ASEAN Chartered Professional Accountants Register (ACPAR); ; 7.2.2 Promoting the acceptance of ASEAN Chartered Professional Accountants (ACPAs) in each participating ASEAN Member Country as possessing general technical and professional competence that is substantially equivalent to that of Professional Accountants registered or licensed in the Country of Origin; ; 7.2.3 Developing, monitoring, maintaining and promoting mutually acceptable standards and criteria for facilitating practice by ASEAN Chartered Professional Accountants (ACPAs) throughout the participating ASEAN Member States; ; 7.2.4 Seeking to gain a greater understanding of existing barriers to such practice and to develop and promote strategies to help governments and licensing authorities reduce those barriers and manage their processes in an effective and non- non-discriminatory manner; ; 7.2.5 Encouraging the relevant government and licensing authorities to adopt and implement streamlined procedures for granting rights to practice ASEAN Chartered Professional Accountants (ACPAs), through the mechanisms available within ASEAN; ; 7.2.6 Identifying and encouraging the implementation of best practice for the preparation and assessment of accountantsaccountants ; and and 7.2.7 Continuing mutual monitoring and information exchange by whatever means that are considered most appropriate, including but not limited to: : (a) sharing of information and regular communication concerning assessment procedures, criteria, systems, manuals, publications and lists of recognised Professional Accountants; and and (b) informing all National Accountancy Bodies (NABs) and/or Professional Regulatory Authorities (PRAs), when it has been notified that an ASEAN Chartered Professional Accountant (ACPA) is no longer qualified to undertake professional accountancy practice in the Country of Origin, has not complied with the Continuing Professional Development (CPD) policy of the Country of Origin, or has seriously violated technical, professional or ethical standards either in the Country of Origin or the Host Country, whereby such violations have led to deregistration or suspension from practice or withdrawal from the ASEAN Chartered Professional Accountants Register (ACPAR). . 7.3 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) may, whenever it deems appropriate, invite the non-participating ASEAN Member States to attend as observers to its meetings. . 7.4 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall report its progress of work to ASEAN Coordinating Committee on Services (CCS). . 7.5 The administration of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be facilitated by a Secretariat. The establishment and funding of the Secretariat shall be decided by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC). . 7.6 General Meetings of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be held at least once in each two (2) year period to deal with applications for emplacement on the ASEAN Chartered Professional Accountant Register and/or applications by Monitoring Committees to review the Guidelines on Criteria and Procedures (Appendix II), Assessment Statement (Appendix IllIII), Assessment Statement Flowchart (Appendix V) and other related guidelines, procedures and documentation, and recommend any amendments.

ASEAN CHARTERED PROFESSIONAL ACCOUNTANT COORDINATING COMMITTEE. 7.1 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be established and shall have the authority to confer and withdraw the title of ASEAN Chartered Professional Accountant (ACPA). This authority may be delegated in writing from time to time by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) to the Monitoring Committee (MC) in each participating ASEAN Member States. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall comprise of one appointed representative from each Monitoring Committee (MC) of the participating ASEAN Member States. . 7.2 The functions of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall include: : 7.2.1 Facilitating the development and maintenance of the ASEAN Chartered Professional Accountants Register (ACPAR); ; 7.2.2 Promoting the acceptance of ASEAN Chartered Professional Accountants (ACPAs) in each participating ASEAN Member Country as possessing general technical and professional competence that is substantially equivalent to that of Professional Accountants registered or licensed in the Country of Origin; ; 7.2.3 Developing, monitoring, maintaining and promoting mutually acceptable standards and criteria for facilitating practice by ASEAN Chartered Professional Accountants (ACPAs) throughout the participating ASEAN Member States; ; 7.2.4 Seeking to gain a greater understanding of existing barriers to such practice and to develop and promote strategies to help governments and licensing authorities reduce those barriers and manage their processes in an effective and non- discriminatory manner; ; 7.2.5 Encouraging the relevant government and licensing authorities to adopt and implement streamlined procedures for granting rights to practice ASEAN Chartered Professional Accountants (ACPAs), through the mechanisms available within ASEAN; ; 7.2.6 Identifying and encouraging the implementation of best practice for the preparation and assessment of accountants; and and 7.2.7 Continuing mutual monitoring and information exchange by whatever means that are considered most appropriate, including but not limited to: : (a) sharing of information and regular communication concerning assessment procedures, criteria, systems, manuals, publications and lists of recognised Professional Accountants; and and (b) informing all National Accountancy Bodies (NABs) and/or Professional Regulatory Authorities (PRAs), when it has been notified that an ASEAN Chartered Professional Accountant (ACPA) is no longer qualified to undertake professional accountancy practice in the Country of Origin, has not complied with the Continuing Professional Development (CPD) policy of the Country of Origin, or has seriously violated technical, professional or ethical standards either in the Country of Origin or the Host Country, whereby such violations have led to deregistration or suspension from practice or withdrawal from the ASEAN Chartered Professional Accountants Register (ACPAR). . 7.3 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) may, whenever it deems appropriate, invite the non-participating ASEAN Member States to attend as observers to its meetings. . 7.4 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall report its progress of work to ASEAN Coordinating Committee on Services (CCS). . 7.5 The administration of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be facilitated by a Secretariat. The establishment and funding of the Secretariat shall be decided by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC). . 7.6 General Meetings of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be held at least once in each two (2) year period to deal with applications for emplacement on the ASEAN Chartered Professional Accountant Register and/or applications by Monitoring Committees to review the Guidelines on Criteria and Procedures (Appendix II), Assessment Statement (Appendix IllIII), Assessment Statement Flowchart (Appendix V) and other related guidelines, procedures and documentation, and recommend any amendments.

ASEAN CHARTERED PROFESSIONAL ACCOUNTANT COORDINATING COMMITTEE. 7.1 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be established and shall have the authority to confer and withdraw the title of ASEAN Chartered Professional Accountant (ACPA). This authority may be delegated in writing from time to time by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) to the Monitoring Committee (MC) in each participating ASEAN Member States. The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall comprise of one appointed representative from each Monitoring Committee (MC) of the participating ASEAN Member States. . 7.2 The functions of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall include: : 7.2.1 Facilitating the development and maintenance of the ASEAN Chartered Professional Accountants Register (ACPAR); ; 7.2.2 Promoting the acceptance of ASEAN Chartered Professional Accountants (ACPAs) in each participating ASEAN Member Country as possessing general technical and professional competence that is substantially equivalent to that of Professional Accountants registered or licensed in the Country of Origin; ; 7.2.3 Developing, monitoring, maintaining and promoting mutually acceptable standards and criteria for facilitating practice by ASEAN Chartered Professional Accountants (ACPAs) throughout the participating ASEAN Member States; ; 7.2.4 Seeking to gain a greater understanding of existing barriers to such practice and to develop and promote strategies to help governments and licensing authorities reduce those barriers and manage their processes in an effective and non- non-discriminatory manner; ; 7.2.5 Encouraging the relevant government and licensing authorities to adopt and implement streamlined procedures for granting rights to practice ASEAN Chartered Professional Accountants (ACPAs), through the mechanisms available within ASEAN; ; 7.2.6 Identifying and encouraging the implementation of best practice for the preparation and assessment of accountantsaccountants ; and and 7.2.7 Continuing mutual monitoring and information exchange by whatever means that are considered most appropriate, including but not limited to: : (a) sharing of information and regular communication concerning assessment procedures, criteria, systems, manuals, publications and lists of recognised Professional Accountants; and and (b) informing all National Accountancy Bodies (NABs) and/or Professional Regulatory Authorities (PRAs), when it has been notified that an ASEAN Chartered Professional Accountant (ACPA) is no longer qualified to undertake professional accountancy practice in the Country of Origin, has not complied with the Continuing Professional Development (CPD) policy of the Country of Origin, or has seriously violated technical, professional or ethical standards either in the Country of Origin or the Host Country, whereby such violations have led to deregistration or suspension from practice or withdrawal from the ASEAN Chartered Professional Accountants Register (ACPAR). . 7.3 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) may, whenever it deems appropriate, invite the non-participating ASEAN Member States to attend as observers to its meetings. . 7.4 The ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall report its progress of work to ASEAN Coordinating Committee on Services (CCS). . 7.5 The administration of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be facilitated by a Secretariat. The establishment and funding of the Secretariat shall be decided by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC). . 7.6 General Meetings of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) shall be held at least once in each two (2) year period to deal with applications for emplacement on the ASEAN Chartered Professional Accountant Register and/or applications by Monitoring Committees to review the Guidelines on Criteria and Procedures (Appendix II), Assessment Statement (Appendix IllIII), Assessment Statement Flowchart (Appendix V) and other related guidelines, procedures and documentation, and recommend any amendments.