Sponsorship for accounting studies

THE Bumiputra Education Pioneers’ Foundation (Yayasan Peneraju Pendidikan Bumiputra) and the Association of Chartered Certified Accountants (ACCA) have pledged to increase the number of Bumiputra students becoming chartered certified accountants under a renewed Memorandum of Understanding (MoU).

Aimed at improving the quality, quantity and effectiveness of Bumiputra talents in Malaysia through professional accounting certification programmes, the MoU – a three-year partnership which was first established in 2017 – will see another 1,000 students being sponsored to fulfil their dreams of becoming professional accountants.

The renewal agreement was signed by Yayasan Peneraju’s acting chief executive officer Mohd Ariff Ithnin and ACCA Malaysia country head Edward Ling.

Noting that the initiative was in line with the government’s efforts to nurture and develop new talents to propel Malaysia into becoming a high-income nation and also boost Bumiputra participation in high-income employment, Minister in the Prime Minister’s Department (Special Functions) Datuk Seri Mohd Redzuan Md Yusof said partnerships such as Yayasan Peneraju and ACCA’s were pivotal in preparing students for successful careers in accountancy and finance, which will help pave the way for the country to become a fully developed and high-income nation by 2030.

“Accountancy is one of the key areas where the country is significantly under-served. The public and private sectors need to work together to ensure that the demand driven by Malaysia’s strong and stable economic growth is met,” said Mohd Redzuan who witnessed the signing last month via a virtual platform in light of the current Covid-19 pandemic.

Mohd Ariff said accounting was an area the organisation has been focusing and heavily investing in since 2012.

“As the world transforms, we realise that many Malaysian students with excellent academic potentials face difficulties in pursuing higher education due to various factors, particularly financial constraints.

“Education funding like this is a powerful agent of change, providing educational opportunities that can help create brighter and better futures for the upcoming generation,” he said.

Under the previous partnership, a total of 1,639 students were sponsored to pursue the ACCA qualification. The programme yielded positive results with 37 ACCA World Prize winners and 11 ACCA World No.1 Prize winners.