NEWS

 

TITLE: Welcome Remark by Yang Berusaha Encik Salihin Abang, President, Malaysian Institute Of Accountants, 50TH Anniversary Gala Dinner

DATE: 30/09/2017

WELCOME REMARKS BY

YANG BERUSAHA ENCIK SALIHIN ABANG

PRESIDENT

MALAYSIAN INSTITUTE OF CORPORATE GOVERNANCE

AT

50TH ANNIVERSARY GALA DINNER

30 SEPTEMBER 2017, SATURDAY, KUALA LUMPUR

Bismillah hirahmah nirahim

Assalammualaikum

Menghadap

Duli Yang Maha Mulia Paduka Seri Sultan Perak Darul Ridzuan, Sultan Nazrin Muizzuddin Shah Ibni Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-Lah

dan

Duli Yang Maha Mulia Raja Permaisuri Perak Darul Ridzuan, Tuanku Zara Salim

Ampun Tuanku, beribu-ribu ampun, sembah patik mohon diampun.

Izinkan patik bagi pihak Institut Akauntan Malaysia dengan penuh hormat dan takzimnya merafak sembah, menjunjung setinggi-tinggi kasih di atas limpah perkenan Duli-Duli Yang Maha Mulia Tuanku sudi mencemar duli berangkat ke Majlis Makan Malam MIA sempena menyambut Ulang Tahun ke 50 pada malam yang sungguh permail dan indah ini.

Sesungguhnya keberangkatan Duli-Duli Tuanku amat di sanjungi oleh seluruh warga MIA serta patik sekalian dan telah menambah seri lagi majlis ini.

Ampun Tuanku

Izinkan patik untuk turut mengalu-alukan tetamu kenamaan serta hadiran sekelian.

Yang Berhormat Dato Seri Johari Ghani, Menteri Kewangan Kedua dan Yang Berbahagia Datin Seri Zurwati Haslinda Zainal Bahry

Yang Berbahagia Dato’Mohammad Faiz Azmi, Pengerusi Majlis Sambutan Ulang Tahun ke-50 MIA dan Yang Ariff Datin Faizah Jamaludin

Yang Berbahagia Tan Sri Hanafiah Hussain and Y Bhg Puan Sri Datin Mimi Abdullah

Yang Berbahagia Dato’ Narenda Jasani, Timbalan Presiden MIA

Yang Berusaha Dr Nurmazilah Mahzan, Ketua Pegawai Eksekutif, MIA

Tan Sri–Tan Sri, Dato’-Dato’, Datin-Datin, Tuan-Tuan, Puan-Puan, ahli ahli MIA dan para media hadirin sekalian

Ampun Tuanku,

Patik mohon limpah perkenan Duli-Duli Tuanku untuk patik meneruskan sembah ucapan patik dalam Bahasa Inggeris.

Ampun Tuanku,

Your Royal Highnesses, Honoured Guests, Ladies and Gentlemen

Welcome to the MIA’s 50th Anniversary celebration. I am very grateful that you could spare this precious Saturday evening to celebrate together with us at this Gala Dinner, which marks the culmination of our Golden Jubilee.

In particular, MIA would like to record our utmost appreciation to His Royal Highness Sultan Nazrin and Her Royal Highness Tuanku Zara and the Honourable Minister of Finance II for gracing us with their presence tonight.

Tonight, there are close to 800 of us in this room, celebrating our 50 years of achievement. Our story began with the implementation of the Accountants Act 1967. Following the Act, the MIA was established on 30th September 1967, and entrusted with a statutory mandate to develop and regulate the accountancy profession, and thus to support nation building.

Guided by our purpose of nation building, we have grown from strength to strength since our founding. From 1619 members with CA(M) in 1980, we now have more than 34,000 members, and we are still growing.

Our CA(M) and members have an impact in all segments of the economy and society – our CA(M) are making a difference in public practice, large corporate and industry, small and medium enterprise, public sector and government, and education.

Our achievements have been made possible first and foremost through unity among our members, collaboration with our stakeholders, loyalty and diligence from MIA staff, and support from the government.

Ladies and Gentlemen,

As the developer and regulator of the profession as enshrined in the Act, the Institute is best positioned to spearhead the profession’s advancement. We will continue to strengthen the profession in accordance with the recommendations of the Government’s Committee to Strengthen the Accountancy Profession (CSAP).

We are tasked to strengthen the accountancy profession by building up the supply and quality of professional accountants i.e. capacity building, in order to support the country’s economy.

To grow our membership, we have put in place several key initiatives. For example, we are working hard to position accountancy as a profession of choice to attract and retain the country’s best young talent. Currently, about 44% of our members today are below the age of 40, and we expect this percentage to increase in future through engagement programmes with schools and universities.

To build up competency and skills, we will continue to enhance our Continuing Professional Education (CPE) offerings and roll out initiatives such as our Competency Framework to map out the skills required of accountancy professionals, and to match skills to market demands.

Ladies and Gentlemen,

The Institute has identified digitalisation and enforcement as two key issues that must be addressed to enhance the profession’s effectiveness, relevance and sustainability.

What are some of the digital disruptions that will affect the profession? One, we observe that accountancy is increasingly cloud-based and empowered by Big Data, and processes are becoming more efficient and mobile.

As a result, accountants are facing a paradigm shift in our roles and the way we do things.

Two, we are facing challenges in the shape of codification and commoditisation of professional knowledge; automation of processes and methodology; as well as inclination towards heavy reliance on artificial intelligence. These shifts will drive rising demand for tech-savvy accountants with critical thinking and data interpretation skills.

We have also established a Digital Economy Task Force that studies the impact of technology on the accountancy profession in Malaysia, and we are preparing the MIA Digital Economy Blueprint to plan our digital strategy and guide the implementation of digital initiatives. These initiatives replacing the MIA Membership Information System and digitise training materials to improve member calibre and satisfaction.

Over in the enforcement space, a key step was to appoint a new head to our newly-created position of Executive Director – Surveillance and Enforcement. Under his leadership, our Surveillance and Enforcement division has put in place changes to speed up investigative and disciplinary procedures – such as Practice Review - within the current scope of the Accountants Act 1967.

Plus, we are working closely with the Companies Commission of Malaysia to combat the problem of bogus accountants. Other milestones include the completed revision and adoption of enhanced SOPs (standard operating procedures) benchmarked to ISOs for surveillance and enforcement.

Ladies and Gentlemen,

A stronger accountancy profession in Malaysia is a positive driver for society and the economy. For the past fifty years, MIA has recorded many successes in our continuing journey to serve the nation and the people, and we will strive to do even more for the public, our members, our stakeholders, and the nation.

Before I end, I wish to thank the people who have made this 50th Celebration and this Gala Dinner a resounding success: our esteemed members; our partners, sponsors and collaborators; the management and staff of MIA; and the Organising Committee for the 50th Anniversary Celebrations. I would also like to say a special thank you to the MIA 50th Anniversary Organising Committee Chairman Dato’ Faiz for his guidance and support.

I thank you from the bottom of my heart and wish you all a fabulous evening ahead.

Thank you and wassalaamualaikum warahmatullaahi wabarakaatuh

Menjunjung Kasih Tuanku.