A lot of write ups that are very informative can be seen here. Based on my work experience, the norm is...

If you plan to practice as an accountant in Malaysia then you must be registered with MIA irrespective of whether you have an accounting degree from a local univ or a professional accounting qualification from overseas.

If you plan to work as an accountant in the Malaysian private sector then definitely the employers will look for those with professional qualifications as these candidates are supposed to be far more well versed in accounting techniques as compared to just an MIA member who graduated from a local uni.

If you plan to work overseas then you will need a globally-recognised accounting qualification. If you have an ACCA/ICA/CIMA etc based in the UK then it may be easy for you to work in any Commonwealth countries or even in other European nations or other parts of the world, as compared to just being an MIA or just having MICPA.

Sometimes we may just brush away the thought of working overseas thinking that we may never have that chance in our life. But once you have a globally-recognised professional qualification you will know how to look for that chance and it will definitely come your way as compared to someone who doesn't have the qualification. But getting such a qualification is no walk in the park..you have to be very disciplined and it calls for hard work/struggle and more than 100% commitment. Doing a local accounting degree is nothing compared to going for a professional qualification. Through several decades I've seen a lot of students who gave up half way through their professional courses especially due to lack of focus or commitment.

This post has been edited by katakrabun: Feb 9 2015, 11:42 AM