Persons wishing to apply for the practising certificate to offer statutory audit and assurance services shall meet the following conditions:

• a. The applicant shall be at least 18 (eighteen) years of age at the date of his application for the Practising Certificate; and
• b. The applicant shall not have been found guilty of a criminal offence by a court of law in the Republic of Maldives or any other jurisdiction; and
• c. The applicant shall not have been declared bankrupt by a court of law in the Republic of Maldives or any other jurisdiction during 5 (five) years preceding the application; and
• d. The applicant shall not have been convicted of fraud by a court of law in the Republic of Maldives or any other jurisdiction; and
• e. The applicant shall not have been subjected to a disciplinary action by a professional accountancy body; and
• f. The applicant shall satisfy the Licensing and Disciplinary Committee of his proficiency in relevant local laws and regulations by undertaking an appropriate interview/test, as determined by the Auditor General’s Office; and
• g. Any applicant with a decreed debt shall be making regular payments to discharge the same as provided in the judgement.
• h. A Maldivian national applying for the Practising Certificate shall have a relevant MNQF Level 7 accounting or auditing qualification from an institution of higher education accredited by the Maldives Qualifications Authority (MQA) or a relevant MNQF Level 7 professional qualification from a professional accountancy body – as set out in Annex 1 – that is a member of the International Federation of Accountants (IFAC)
• i. An applicant who is not a Maldivian national shall have full membership of, and a practising certificate – or a certificate of practice – from any of the professional accountancy bodies listed in Annex 1
• j. Notwithstanding subsection (h), a Maldivian national applying for the Practising Certificate on or after 1 January 2019 shall be a member or an affiliate of any of the professional accountancy bodies listed in Annex 1 of this Regulation and shall have passed an " Advanced Audit and Assurance" paper or an equivalent audit and assurance paper as part of their professional or academic examinations
• k. The Practising Certificate issued under the subsection (h) above shall be rendered invalid on 31st December 2018. Applications for the Practising Certificate issued pursuant to subsection (j) above shall be submitted 45 (forty-five) days prior to the Practicing Certificate issued under subsection (h) becoming invalid.