In 2003, MICPA was established following the issuance of an Association Permit from the Associations Formation and Control Central Committee (under the Ministry of Home Affairs of Myanmar). In 2013, MICPA was then re-constituted as a not-profit corporate entity under the authority of the Directorate of Investment and Companies Administration. Following the enactment of the MAC Law in 2015, MICPA was recognized as an independent national accountancy body. And in 2017, in addition to the provisions under the MAC Law, MICPA was re-registered as a company limited by guarantee. MICPA was established to protect the rights of professional accountants in compliance with relevant laws and regulations, to promote the accounting profession by acting as a platform for training and development, and to serve as the voice for the accountancy profession in Myanmar. Membership with MICPA is mandatory for all CPAs. MICPA is an IFAC Associate member and a Primary Member of the ASEAN Federation of Accountants.