The New MIA Practice Review Framework (PR) 2024 & Navigating The PR Effectively
INTRODUCTION
The new Practice Review (PR) Framework was issued by the Malaysian Institute of Accountants (MIA) and came into effect on 1 July 2024. The PR program is a quality assurance program established under Section B250: Quality Assurance and Practice Review of MIA
By-Laws, first established in 2003.
The key changes brought about by the 2024 revision include the introduction of a single review, annual submission of the Remedial Action Plan (RAP) over a 2-year period, the imposition of 2 Orders by the Practice Review Committee for Type 3 ratings and engagement peer reviews & enrolment in a Quality Assurance Program (QAP).
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