The collaboration process is emphasized more at the study program level to support the achievements of the Merdeka Campus. Over the last three years, the study program has carried out 19 national level collaborations through MoUs and 6 international level collaborations including with the London School of Accountancy and Finance (LSAF) in terms of holding international certification from the Association of Chartered Certified Accountants (ACCA), Asia University Taiwan , as well as several universities in Malaysia, namely University of Technology Mara (UiTM), Universiti Sains Malaysia (USM) and WSB University in Poznan, Poland. On-going collaboration is also being carried out with Universiti Kebangsaan Malaysia (UKM) and International Islamic University Malaysia (IIUM).

During the 2020-2022 period there were 17 practitioners, both international and national, who became lecturers in the Center of Excellence (CoE) School of Sustainability Accounting (SSAC) program and Village Accounting Professional Class, CoE Tourism and Hospitality, Supply Chain Management (SCM), and Sharia Banking and Fintech Professional Class. The involvement of practitioners and several national and international institutions has improved the quality of study programs in terms of internationalization. Collaboration at the national level, one of which is with the Indonesian Accountants Association, has provided benefits in providing test center facilities which are a place for students to take online FSAB certification tests, developing practical knowledge for students, as well as USAS, CAFB, CA and CGAE for lecturers.

Collaboration carried out by the study program includes sharing knowledge with several stakeholders, both from foreign and domestic academics, government agencies, NGOs, the Business World of Industry (DUDI). DUDI, especially companies that have good performance and contribute to the world of education, for example through facilitating student internships, work practices, research for student and lecturer study programs.

In the field of education, cooperation at the international level in the field of education with Asia University Taiwan in the form of International Credit Transfer (ICT), with ACCA and LSAF. Teaching mobility is carried out with universities in Poland. Several FEB UMM lecturers had the opportunity to teach at WSB University in Poznan, Poznan University and Warsaw University in Poland in 2022. As a result of this collaboration, the study program received a visit from a guest lecturer from WSB University in Poznan in 2023. Apart from teaching mobility, collaboration was also carried out in staff mobility and student mobility. Cooperation is also carried out on the basis of an agreement under the Erasmus+ program. Several students got the opportunity for student mobility to Metu University, Turkey and Hanyang University in Seoul, Korea. National level collaboration is also carried out with the University of Surabaya (Ubaya) and the State University of Malang (UM), including the exchange of lecturers to teach several subjects, for example Management Accounting.

In the field of research, collaboration has been carried out with the Accounting Research Institute (ARI) University Teknologi Mara UiTM, in the form of joint research and publications on the theme of whistleblowing intention. Research on sharia accounting is also being carried out with lecturers from IIUM.