Producing elite accountants

WITH the development of digital technology, the role of accountants will be more challenging. It is imperative that they are trained at the highest standards and tested by the rigour of professional accountancy examinations.

At the same time, the lack of Bumiputera involvement in the professional accounting field is of great concern.

Based on the figures stated by Malaysian Institute of Accountants (MIA), there are fewer than 1,800, or eight per cent, of Bumiputera accountants.

This is way lower than market demand. Malaysia Professional Accountancy Centre (MyPAC), established in 2014, is in collaboration with Yayasan Peneraju Pendidikan Bumiputera (Yayasan Peneraju) to increase the number of certified Bumiputera accountants.

Higher Education Minister Datuk Seri Idris Jusoh in his keynote address at the MyPAC Appreciation Award ceremony, said the traditional role of a professional accountant is evolving.

He said as a professional accountant, their role is above and beyond the preparation of financial reports.

That role, he said, had been taken over by technology.

“However, those reports and analyses will need to be interpreted and communicated.

“I am not worried that we will be replaced by artificial intelligence because I am confident that algorithm shall not overcome mental elasticity.

“As a young graduate armed with professional accountancy qualification, you have a competitive edge against the others in pursuing your career.

“Having the qualification is one thing, applying it in your career is a different story PICTURES BY NUR ELLIANA ZAKARIA altogether,” he added.

Idris said graduates must be responsible for their own development.

“It does not stop with them completing the examination.

“If they are serious about expanding their career, invest in themselves and continue learning.

“As future leaders, they cannot ignore the rapidly advancing digital technologies.

“And, they should be familiar with blockchain technology, and understand the discussion and implications of cryptocurrencies.”

Idris presented certificates to 60 Association of Chartered Certified Accountants (ACCA) students, who have passed with flying colours.

INTEC Education College announced that their Professional Accountancy Centre (IPAC) students had produced the best results for the December examination.

Present were UiTM Vice-Chancellor Professor Emeritus Datuk Dr Hassan Said, UITM Private Education College (UPESB) chairman Professor Dr Suhaimi Abdul Talib, UiTM Holdings Group chief executive officer Azlizan Fadzil and INTEC Education College chief executive Professor Dr Yamin Yasin.

Suhaimi said IPAC Education had produced many exemplary graduates and had received the platinum status award in just two years.

“We have consistently produced above world average passing rate, about 75 per cent at every sitting of examination.

“This is the result of the determination and dedication of the lecturers and the teaching and learning ecosystem at IPAC.”

IPAC director Associate Professor Mahfudzah Mohamed said the institute was established to boost the number of students taking professional exams.

“But, we are able to do more because of the facilities we have.”

She said IPAC lecturers had the right ingredients for success as they had students with

I am not worried that we will be replaced by artificial intelligence because I am confident that algorithm shall not overcome mental elasticity.