International Finance and Accounting Handbook

15 • 11

Hong Kong

Certified Public Accountant

Companies Ordinance: Hong

The applicant must be

Practicing certificates are is-

Kong Society of Accountants

21 years of age and of good

sued by the General Council

(HKSA), established in 1973

character, belong to an

of the HKSA to registered

by the Professional

approved institute or have

accountants with not less

Accountants Ordinance

completed successfully the

than 30 months of full-time

prescribed examinations in

experience in the office of a

accountancy and other sub-

professional accountant or

jects, and have accumulated

not less than four years of

five years of practical experi-

experience as a registered

ence. Graduates of approved

accountant.

universities or colleges mayhave the experience require-ment reduced by as much astwo years.

Korea (South)

Certified Public Accountant

The Ministry of Finance and

All applicants are eligible to

There are no educational re-

the Securities and Exchange

take the first part of the CPA

quirements for becoming a

Commission

examination. Those who pass

CPA. Thirty hours of continu-

it may take the second part,

ing education are required

which enables them to be-

each year.

Especially, Junior

come junior CPAs. After serv-

CPAs should complete

ing for two years for a CPA

200 hours of training at the

firm

or three years for a

gov-

Accounting Education

ernment agency, or bank,

Institute of KICPA before

applicants are able to

register

becoming a CPA.

with the Ministry of Financeto become a CPA.

Applicants

with qualifying experiencewith the government, themilitary, or bank do not haveto sit for the

first part

of the

examination.

Exhibit 15.1.

(Continued

)