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TITLE: Welcome Remarks by Dr Nurmazilah Dato’ Mahzan, Chief Executive Officer, Malaysian Institute of Accountants at Data Driven Decision (DDD) for Finance and Accounting Professionals Webinar

DATE: 12/05/2020

WELCOME REMARKS BY

DR NURMAZILAH DATO’ MAHZAN

CHIEF EXECUTIVE OFFICER

MALAYSIAN INSTITUTE OF ACCOUNTANTS

AT

DATA DRIVEN DECISION (DDD) FOR FINANCE AND ACCOUNTING PROFESSIONALS WEBINAR

12 MAY 2020 (TUESDAY)

  • YBhg Dato’ Ng Wan Peng, Chief Operating Officer MDEC
  • Distinguished Speakers
  • Ladies and Gentlemen
  1. Good morning and welcome to the webinar on Data Driven Decisions (DDD) for Finance and Accounting Professionals, a collaboration between MIA and MDEC.
  2. As somebody who is passionate about harnessing data, I strongly believe that strategies and decisions must be evidence-based. While intuition that is based on a wealth of expertise is important, it must be underpinned by metrics, facts and figures.
  3. Therefore, today’s webinar is going to explore data-driven decision-making, as the COVID-19 crisis presents a window of opportunity for finance and accounting professionals to have an insight on making informed and timely decisions that can optimise operations, business models and business continuity, and that can help us be more agile and resilient in this economic downturn.
  4. Thank you very much to everyone for joining us today. And thank you very much to our expert speakers for joining us today: Dr Karl Ng Kah Hou, Director of Data Ecosystem Development Division; Mr Kang Yew Jin, Group Chief Technology Officer from Star Media Group; and YBhg Dato’ Vimmy Yap, Chairman of 6Biz Sdn Bhd and GoKudos Sdn Bhd
  5. Dr Karl from MDEC, who is also a member of the MIA Digital Technology Implementation Committee (DTIC) will be giving us the big picture on the importance of data in today’s world and why accountants and finance professionals need to embrace data-driven decisions.
  6. Mr Kang and Dato’ Vimmy will then share their best practices and used cases for data driven decision making. Both are highly experienced trailblazers in this area. In November 2019, Mr Kang was named as one of ASEAN’s 50 most innovative technology leaders by IDG (International Data Group) which is a leading global technology research firm. Dato’ Vimmy’s expertise will be particularly relevant to our practitioners as she is a chartered accountant and MIA member who has successfully integrated data and analytics into her businesses.
  7. Dr Karl will be sharing why the profession needs to embrace data and how MDEC can help you to start the journey, and Mr Kang and Dato’ Vimmy will be guiding us all on how to get started and kickstart a data-driven culture.
  8. Inculcating a data-driven culture among our members is just one of the many ways in which MIA is driving digital transformation of the profession, to future-proof accountants which in turn will support business sustainability and sustainable nation building. Our digital advocacy is guided by our MIA Digital Technology Blueprint which was launched in 2018 and is being operationalised. Our most recent Technology Adoption survey conducted in 2019 showed that our efforts to create awareness and educate members on data and digital are paying off – 52% and 36% of survey respondents indicated to adopt data analytics tools and Artificial Intelligence (AI) respectively in the next three years. The ability to work with data remotely and to utilise more AI, analytics and automation will of course be crucial as we enter the post-COVID-19 new normal, where we will continue to practise social distancing and work from home. We are also working to help our member firms digitalise to become more efficient and resilient and safeguard their business continuity, especially the small and medium practitioners who are business advisors to SMEs. Just recently, MIA’s e-confirm.my went live, a multi-stakeholder Industry-wide Electronic Bank Confirmation Platform that not only facilitates paperless bank confirmations but is integral to our long-term roadmap of audit digitisation.
  9. Ladies and gentlemen, I am confident that today’s webinar will be eye-opening for all of us here. Webinars that harness MIA’s collaborative leadership and social and relationship capital will become a normalised alternative to physical conferences and large events as we go forward, due to social distancing. I am happy to report that MIA is getting excellent response to our webinars since we accelerated our e-learning development in April 2020, as part of our own business continuity planning and to support continuing professional development despite restrictions. As a regulator, MIA fully supports the Government’s policies and regulations for social distancing and COVID-19 prevention and we exhort our members and stakeholders to comply as well, in the public interest.
  10. Once again, thank you for being part of this webinar. Do join us at our upcoming webinars and I wish everybody a productive two hours.