State in desperate need of qualified accountants
KUCHING: Sarawak is in great need of qualified accountants, said Second Minister of Finance Dato Sri Wong Soon Koh.
He pointed out that according to the Malaysian Institute of Accountants ( MIA), there were only 1,848 qualified accountants in Sarawak as of Jan 31, 2016.
“Of the number, 571 or 30.9 per cent are ACCA (Association of Chartered Certified Accountants) members. A study in 2010 estimated that Sarawak would require 24,970 accounting technicians at certificate level by 2030,” he said at the signing of a memorandum of understanding ( MoU) between Sunway College Kuching and the International Association of Bookkeepers (IAB) yesterday.
Wong noted that Malaysia requires 60,000 accountants by 2020 but at present there are only 33,000 accountants nationwide.
“Organisations in any industry, be it banking, retail, manufacturing, ecommerce or online, require skilled accounting personnel to accurately record transactions, balance the books and prepare true and fair financial statements,” he said.
Wong said he hopes the MoU will help produce more accountants and accounting technicians for Sarawak, and provide local students with more opportunities to complete an internationally recognised professional accounting qualification locally.
On the MoU, Sunway College Kuching CEO Joseph Lim said Sunway College Kuching is authorised by IAB to develop and nurture classroom teaching towards IAB qualifications.
“Sunway College will demonstrate that its classroom teaching system provides quality support to learners towards IAB qualifications,” he said.
“We will work with IAB to stimulate interest among students in Sarawak to pursue accounting and finance as a career and to come into the IAB programme.”
IAB chief executive Malcolm Trotter said there is an increasing need for skilled workers in this era of global economic growth and rapid technological development.
“Employers say that graduates lack employability skills, meaning people do not have the immediate skills that make them attractive, ready to work and technically competent,” he said.
The IAB specialises in providing high quality, relevant financial and business qualifications for students, financial professionals and owners or managers of small businesses.