The Association of Southeast Asian Nations (ASEAN) was established in 1967 to promote economic development, technology, and competitive advantage in the region. ASEAN Economic Community (AEC) to integrate the regional economy by 2015. The areas of co-operation include the recognition of professional qualifications such as the accounting profession. Upon its implementation, a professional accountant in a member country may apply to be registered as an ASEAN Chartered Professional Accountant and thus shall be eligible to apply to practice in other member countries