NEWS

 

TITLE: Aspirations for 2021

DATE: 31/12/2020

Dear Members,

On behalf of MIA, I would like to thank all of you for your patience, fortitude and support throughout 2020, which has been an unprecedented year in terms of turbulence, uncertainty and complexity.

MIA, however, was able to steer a steady course and remain resilient, agile and future-oriented through adoption of suitable workplans. We never lost sight of our ultimate purpose, which is to uphold good governance in the public interest and to future-proof the profession and accountancy professionals to be relevant and valued contributors to nation building.

Indeed during 2020, we achieved several noteworthy highlights even as we were coping with the onslaught of the COVID lockdowns -- we were able to launch MIA’s textbook on MFRS application for Islamic finance institutions and MIA’s Illustrative MPERs e-book, roll out the multi-stakeholder eBank Confirmation platform (econfirm.my) and PLC Professional Liquidity Scheme, dedicated COVID-19 webpage with numerous COVID-19 related guidance and articles, enhance surveillance and enforcement activities and hold numerous webinars and online events as part of our continuing professional development service for our members.

Going into 2021, we will continue to prioritise key initiatives that support our regulatory and development agenda for the benefit of the profession and members. Of utmost importance is our continuing effort to reform the Accountants Act 1967, to strengthen MIA’s effectiveness as the national accountancy regulator and for the profession to stand tall in the eyes of the world. We will also continue to implement programmes to support members’ continuing professional development and wellbeing, as well as your business continuity and sustainability. I strongly encourage members to make full use of MIA’s programmes and facilities to add value to your skillsets and portfolios, getting into position for 2021 and beyond when things pick up.

While we are cautiously optimistic, I would like to remind everybody that we are not out of the woods yet. Although vaccines are in the works, the need to manage the pandemic is still essential. Further, economic and social risks are still prevalent. Nevertheless, the outlook for 2021 is more bullish than 2020, with a projected upswing in growth for both the local and global economy. Do take advantage of the various stimulus and incentive programmes available to transform and scale up your business and organisations, in order to capitalise on upticks in growth and demand. It is also vital for members to look beyond Malaysia’s small domestic market by exploring the opportunities emerging from the offshoring of business processes and supply chains and the implementation of trade pacts such as the Regional Comprehensive Economic Partnership (RCEP). Our advice is for members to remain vigilant, stay safe and function productively by using the tools at our disposal, especially technology supporting remote work. I hope that we can also continue to engage and collaborate positively through physical and virtual platforms to strengthen the profession and to support nation building in our own unique fashion.

On that note, I wish you prosperity, peace and good health as we ring in the New Year.

Dr Veerinderjeet Singh
President
Malaysian Institute of Accountants