- 1. Originally, Myanmar Accountancy Council (MAC) was formed by the Myanmar Accountancy Law (1972) which was enacted by the Union of Myanmar Revolutionary Council’s Law No.2, dated 12 January 1972.
- 2. Then in 1994, MAC was reformed by the Myanmar Accountancy Law (1994) which was enacted by the State Law and Order Restoration Council’s Law No.(1/94), dated 8 March 1994, thereby repealing the Myanmar Accountancy Law (1972). Through the tenure of all MACs, the Office of the Auditor General of the Union (OAG) acts as the MAC Secretariat.
- 3. Then, in 2015, MAC was reformed by the Myanmar Accountancy Council Law (2015) which was enacted by the Pyidaungsu Hluttaw Law No. 31, dated 5 June 2015, thereby repealing the Myanmar Accountancy Council Law (1994)
- 4. In 2019, The Law Amending the Myanmar Accountancy Council Law was enacted by the Pyidaungsu Hluttaw Law No. 5, dated 30 January 2019.
- 5. Under the new MAC Law (2015), MAC was formed and renewed every four years consisting of:-
|(a) Auditor General of the Union||Chairman|
|(b) Deputy Auditor General||Vice-Chairperson (1)|
|(c) Chairperson of the Association||Vice-Chairperson (2)|
|(d) Division and State Autiors-General||Members|
|(e) Vice-Chairperson, Central Bank of Myanmar||Member|
|(f) Director General, Internal Revenue Department||Member|
|(g) Director General, Directorate of Investment and Companies Administration||Member|
|(h) Rectors from the Universities of Economics not exceeding 5 in number||Members|
|(i) Nine representatives from the Association||Members|
|(j) Vice-Chairperson, Union of Myanmar Federation of Chambers of Commerce and Industry||Member|
|(k) suitable citizen accounting professionals not exceeding 5 in number||Members|
|(l) Director General, Administration, Training and Research Department, Office of the Union Auditor-General||Secretary`|
|(m) Secretary of the Association||Joint-Secretary|