Professional Recognition

Hong Kong Institute of Certified Public Accountants (HKICPA)

The HKICPA Qualification Program (QP) is a comprehensive training programme that provides the knowledge and skills necessary to become a CPA. QP builds on an accounting degree and progresses to course work and examinations. Graduates of the MSAC program will be eligible to enroll into the HKICPA QP. Also students are required to fulfill the QP entry requirement of the following seven basic subjects at undergraduate level:

HKICPA QP major areasCourse to meet QP requirement
Accounting ACCT 2010 Principles of Accounting I

ECON 2103 Principles of Microeconomics
ECON 2123 Macroeconomics

Information Systems ISOM 2010 Introduction to Information Systems
Management MGMT 1110 Introduction to Management
Marketing MARK 2120 Marketing Management
Statistics ISOM 2500 Business Statistics

Students who have not studied the required major areas before should take the corresponding subjects at the HKUST Business School in order to meet the QP requirement.

Students will be charged an extra fee of HK$10,000 per course for taking the undergraduate basic courses at HKUST.

Graduate of the MSAC program are eligible for direct entry to the HKICPA QP, provided that they have set and passed all the MSAC core courses and the prescribed elective course “ACCT 5220 – International Treasury Management”.

For other detail information about this accreditation, please click here.

Scholarship awarded by HKICPA

HKICPA scholarships were established to encourage accountancy studies and recognize academic excellence in accountancy at universities. For each academic year, the scholarship of HK$6,000 will be awarded to deserving candidates as recommended by the universities.

The scholarship recipients for undergraduate or postgraduate programs of respective university should be a person of good character, possess outstanding performance in both academic studies and extra-curricular activities; and accept an undertaking that he/she will take the Institute's QP as the first professional accounting examination after graduation.

Other Accreditations

The MSAC program is already accredited by different professional bodies in accounting area which include:

Associate Chartered Certified Accountants (ACCA)

The MSAC program has been accredited by the Association of Chartered Certified Accountants (ACCA) and exemptions will be granted to MSAC graduates for the following papers:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law
  • F5 Performance Management
  • F6 Taxation
  • F7 Financial Reporting
  • F8 Audit and Assurance
  • F9 Financial Management

MSAC graduate can continue to complete the ACCA exam at professional level.

For further information, please ACCA website here.

CPA Australia

The graduates of MSAC program will be granted for the exemptions for the following papers and can gain direct entry to the exam of Professional level#:

  • Foundations of Accounting
  • Economics and Markets
  • Fundamentals of Business Law
  • Business Finance
  • Financial Accounting and Reporting
  • Management Accounting

#Students who wish to apply for the exemption of CPA Australia foundation exams shall take the related undergraduate elective courses in Economics, Information Technology and Quantitative Methods during MSAC program studies.


Chartered Institute of Management Accountant (CIMA)



CIMA professional qualification comprises three pillars of domain knowledge divided into three levels of achievements. The pillars are enterprise, performance and financial, and the levels are operational, management and strategic.

The graduates of MSAC program are being granted for exemptions for at least 11 papers, including BA1-BA4 of certificate BA level and the following papers:

Operational LevelManagement LevelStrategic Level*
E1 Organizational Management E2 Project and Relationship Management E3 Strategic Management
P1 Management Accounting P2 Advanced Management Accounting  
F1 Financial Reporting and Taxation F2 Advanced Financial Reporting  

MSAC students can start with the “Management Case Study Exam” from Management Level.

*E3: Elective Modue: MGMT 5480 Strategic Management in China