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TITLE: Keynote and Officiating Speech by YBhg Datin Paduka Ir. Dr. Siti Hamisah Tapsir, Director General, Higher Education Department, Ministry of Education Malaysia at National Accounting Educators Convention 2018

DATE: 28/11/2018

KEYNOTE AND OFFICIATING SPEECH BY

YBHG DATIN PADUKA IR. DR. SITI HAMISAH TAPSIR

DIRECTOR GENERAL

HIGHER EDUCATION DEPARTMENT

FOR

NATIONAL ACCOUNTING EDUCATORS CONVENTION 2018

28 NOVEMBER 2018 (THURSDAY), KUALA LUMPUR

(Read By: YBhg Prof. Dr Noor Azizi Ismail, Deputy Director General of Higher Education (Public Universities), Ministry of Education)

Ladies and Gentlemen,

Malaysia's higher education system has grown rapidly and steadily over the last decades. The Ministry of Education however recognizes that this system needs to be further enhanced in order to remain competitive and in line with global trends. Disruptive technologies such as advanced robotics, the Internet of Things, and knowledge-based automation work are expected to transform overall business and social landscapes. Hence, students in Malaysian Higher Education Institutions (HEIs) need to be prepared through a transformed higher education system to face a challenging and ever changing future.

The Malaysian Institute of Accountants (MIA) as the body entrusted to regulate the accountancy profession in Malaysia is certainly faced with the same challenges. I do believe MIA is working very hard to equip its members with the 21st century knowledge and skill while at the same time maintaining the quality and credibility of the profession. Therefore this Convention with the theme of Nurturing Future Accountants is timely as it will foster a world-class accounting education discourse. Thus contribute to the production of highly qualified and highly skilled accountants to meet market demands.

Ladies and Gentlemen,

In developing future ready graduates, the Ministry of Education is working on transforming the curriculum as well as the teaching and learning delivery in higher education to enable the students to undergo a more holistic academic program. Experiential or work-based learning, technology-enabled learning and blended learning models are some of the main pedagogy approach of all HEIs. Students will benefit from robust cyber infrastructure for online learning through Massive Open Online Courses (MOOCs) and industry-academia collaboration thus, equipping them with the latest knowledge in line with current developments and labour market’s needs.

Ladies and Gentlemen,

The Ministry of Education through the Department of Higher Education is accelerating the efforts to produce graduates who are able to meet the challenges brought by Industrial Revolution 4.0 (IR4.0) so as to meet industry needs and demands. The industrial mode academic program (2u2i) was introduced using the experiential or work-based learning model. 2u2i combines learning inside and outside campus throughout the course of study. The term 2u2i is used to illustrate the various mix of learning periods on campus and in industries such as 2 years in university and 2 years in industry (2u2i), 3 years in university and 1 year in industry (3u1i) and so on. It aims at producing graduates who are not only prepared to face the challenges of the workplace, but also have sufficient working experience which enable them to function well at the work place immediately upon graduating.

In the field of accounting, 2u2i has been realized through the Bachelor of Accountancy program offered by University Malaysia Terengganu (UMT) with the setting up of Teaching and Firm (TAF), a collaborative effort between the university and Salihin (Chartered Accountants). Currently, TAF is the world's first to serve as a hub to integrate student learning and training in accounting. Implementation of this program involves placement of students in TAF as early as in their 2nd year of study. These students will undergo their normal academic courses in campus and also need to complete 120 hours of work at TAF. The implementation of the 2u2i Program for Bachelor of Accountancy is expected to produce students with holistic skills in accounting which includes theories and practices. The program is also expected to enhance lecturer’s knowledge through the sharing of knowledge with the firm.

Ladies and Gentlemen,

In addition to the 2u2i initiative, the development of the “Curriculum Framework 4.0: Future Ready” is also under way. It’s flexible and organic curriculum framework able to produce graduates who are adaptive to their future needs in line with the challenges of the 21st century. This framework will serve as reference and guide to the Public Universities in developing a relevant and of quality academic program in line with the needs of the industry IR 4.0.

Ladies and Gentlemen,

In an effort to create more Bumiputera accountants, the Government in the 2019 budget speech has allocated RM17.5 million to the Malaysia Professional Accountancy Center (MyPAC). MyPAC is also given the target of producing 600 accredited Bumiputera accountants within the next 5 years so as to achieve the aim to produce 3,000 Bumiputera accountants registered with Malaysian Institute of Accountants (MIA) compared to 1,554 currently available. This effort is expected to produce more Bumiputera accountants who will meet market demands, as well as inculcate a more equitable and inclusive society for the benefit of all citizens.

In addition, the government has also allocated RM400 million to empower research activities at HEIs. The allocation includes a RM30 million matching grant for the Malaysia Partnership Program and Alliances in Research (MyPAIR) aimed at enhancing cooperation between HEIs with local industry and international agencies in strategic areas. With this allocation, it is hoped that more collaborative research with the industry will be able to be conducted which in the long run will benefit the graduate with the research outcomes and findings.

In line with that, the Ministry of Education especially the Higher Education Department strongly urge MIA to work closely with HEIs that offer accounting courses through the Accounting Deans Council of public and private HEIs. This collaboration will open up opportunities for innovation and enhance the skills of existing accountant students in order to create future ready accountants.

Finally, it is hoped that the National Accounting Educators Convention 2018, with the theme of Nurturing Future Accountants, will become a significant platform for participants to create sustainable and smart partnerships and ultimately becomes the turning point towards greater success in the world of accounting. Indeed, the Ministry of Education Malaysia and the Department of Higher Education always support the efforts of organizing such program. With these words, I would like to congratulate the organizing committee on your commitment to ensure the success of this Convention. Thank you very much to the participants, presenters, sponsors and the media. With Bismillahirrahmanirrahim, I am pleased to officiate the National Accounting Educators Convention 2018.