ACCA Careers 2007 — A Huge Success!
Transcription
ACCA Careers 2007 — A Huge Success!
News from Professional Bodies COLUMNS Association of Chartered Certified Accountants ▼ ACCA Careers 2007 — A Huge Success! ACCA Careers 2007 — a career fair for ACCA members and affiliates — attracted more than 1,500 job seekers. Held on 7 July 2007, ACCA Careers 2007 offered ACCA members and students the opportunity to explore exciting career prospects and interact with prominent employers in Malaysia. Sivanesan Dayalan, 22, an ACCA affiliate who just completed his ACCA examination, said that the career fair was a good initiative because different companies gathered under one roof. “In today’s market it is invaluable for us to personally meet and talk to people from the human resources department instead of just sending resumes to the companies,” said Sivanesan. Thirty-three prominent employers participated in this year’s event at Crowne Plaza Mutiara Kuala Lumpur, compared to only 19 the previous year. The employers from various sectors not only showcased high-flying careers offered in the fast-growing fields of accounting and finance, but also demonstrated a broad range of career development and opportunities in their workplaces. According to UK-based global recruitment company Valentine Stewart International, Malaysian accountants are in high demand worldwide. “Our company specialises in placing finance professionals for the global market and Malaysian accountants are in high demand in many locations,” said director Nick Claydon. “We are very happy with the candidates we met today. Definitely it is worthwhile to come to Malaysia and to meet the candidates in-person,” he said further. Tay Kay Luan, ACCA Director of ASEAN and Australasia said that the event provided a win-win situation for both employers and aspiring job seekers. “The ACCA Careers will be an annual event as the demand for career-related activities is quite high,” said Tay. All career talks and CPD sessions organised in conjunction with the event were fully-packed. The overwhelming response from ACCA members, students and the public, indicated keen interest in relevant career-related information. Participating employers included: Accenture • Adrian Yeo & Co • AmcorpGroup Berhad • Bank Negara Malaysia • BASF Asia-Pacific Services Centre Sdn Bhd • BDO Binder • British American Tobacco (Malaysia) Bhd • CIMB Wealth Advisors Berhad • Direct Access • ECM August 2007 • ACCOUNTANTS TODAY Seeking career opportunities High traffic at the booth Libra Avenue Berhad • Ferrier Hodgson Monteiro & Heng • General Electric International • Hong Leong Bank Berhad/HSBC Bank Malaysia Berhad • Intel Malaysia • Kapient (M) Sdn Bhd • KPMG • Maxis Communications Bhd • Maybank • MYOB Malaysians accountants are in high demand Accountants Resourcing • Parker Randall Chartered worldwide. “Our company specialises in Accountants • PETRONAS placing finance professional for the global • PricewaterhouseCoopers market and Malaysian accountants are in • RHB Bank Berhad • RSM Robert Teo, Kuan & high demand in many locations.” Co • Shamsir Jasani Grant Nick Claydon, Director, Valentine Stewart International Thornton • Telekom Malaysia Berhad • The Institute of Internal Auditors Malaysia • The STAR • The Sunway Group • UCE Birmingham University • Valentine Stewart International. AT 51 News from Professional Bodies Chartered Institute of Management Accountants ▼ CIMA members and their families at the entrance of Matang Wildlife Centre CIMA Members, Families Visit Matang Wildlife Centre Several members of CIMA Sarawak and their families took time off from their hectic schedules recently to enjoy an outing at the Matang Wildlife Centre. The day started with breakfast and a few games before they went jungle trekking in Kubah National Park where the Matang Wildlife Centre is located. It was an exciting time for the children for they were able to see the many wild creatures up close and personal especially crocodiles, orang utans and sun bears in their natural environment. Several members also took the opportunity to have a picnic and swim in the Rayu River before they headed back to the city. The trip was par t of activities to celebrate CIMA’s 88th anniversar y and its 30-year presence in Malaysia. CIMA thanks YHS (Sarawak) Sdn Bhd and Lee Fah Mee Sdn Bhd for their sponsorship of door gifts. AT A Super Time at Ampang Super Bowl CIMA members and students at the high-tea gathering Two CIMA networks got together to organise a bowling tournament on 23 June 2007. They were the CIMA Melaka and CIMA Negeri Sembilan Networks. Twenty-one CIMA members and students had a sporting time at the Ampang Super Bowl, Mahkota Parade, Melaka. The champion in the Men’s category was Quah Jin Swee while Yong Lee Ling won in the Women’s category. In the Men’s category, the 1st runner-up was Eric Chew Yi Kai while the 2nd runner-up was Tan Chee Wan. In the Women’s category, Sharon Wee clinched the 1st runner-up placing while the 2nd runner-up was Yennie Chew. Later a high–tea gathering was held at the Equatorial Hotel, Melaka, where prizes for the bowling tournament winners were given away. AT The Malaysian 2008 Budget & Tax Conference 20 September 2007, Parkroyal Hotel Kuala Lumpur CPA Australia and CCH are proud to bring this premier conference that examines the 2008 Budget with a concise overview of the various new tax provisions and their impact on the business community. The conference will also highlight recent tax developments on case law as well as the nation’s macroeconomic outlook for 2008. Free upon registration: an exclusive thumbdrive and the 2008 Budget Booklet. For more information kindly contact Sarah at 52 03-2026 6003 ext. 32 or e-mail [email protected] or log on to www.cpaaustralia.com.au/events/ SM07208601.pdf AT Firm of the Future The Firm of the Future report, an initiative of CPA Australia’s Board of Public Practice Committee Task Force, outlines the challenges that are likely to face public practice in the future, as well as useful strategies to assist CPAs prepare for what lies ahead. Key challenges highlighted include succession planning, recruiting and retaining staff, growth opportunities and technology. Read more on this by Louis White on page 20. AT ACCOUNTANTS TODAY • August 2007 News from Professional Bodies CPA Australia Members’ Dinners Off to a Great Start Datuk Abdul Samad Haji Alias (Dr.) and recognition of 40-year membership of CPA Australia on Ng Wai Fung, Chen Kuen Khiong and Liew Chee Lian. Also present at the Kuala Lumpur Members’ Dinner was CPA Australia President Paul Meiklejohn, Chief Executive Of ficer Geof f Rankin, Malaysia Divisional Deputy President CPA Australia member for 40 years Chen Kuen Khiong, Rusman Amir Zaihan receiving his token of appreciation from CPA Australia President Paul Meiklejohn. Looking on is Rusman and fellow Council Amir Zaihan, Malaysia Divisional Deputy President Members. AT The first of CPA Australia Malaysia Division members’ dinners kicked off on 15 June in Ipoh, Perak at The Indulgence, a cosy fine dining restaurant. Close to 100 members, their spouses and friends converged to enjoy good company, fine European food and entertainment in a relaxed atmosphere. Malaysia Divisional President Christina Foo and Council Member Andrew Heng were on hand to meet members. Chin Kee Sam was presented with a token of appreciation for his 40 years of membership with CPA Australia. At the Kuala Lumpur members’ dinner on 13 July, over 260 people including members, representatives from professional bodies, government agencies and regulators gathered at the Renaissance Hotel Kuala Lumpur. Minister in the Prime Minister’s Department YB Senator Dato’ Sri Effendi Nor wawi presented a 20 minute update on the Ninth Malaysia Plan which included regional development opportunities within the three development regional corridors; i.e. Northern, Eastern and Iskandar development corridors. Other highlights included the 40 years member Chin Kee Sam is all smiles conferment of an honorary CPA as he receives his token of appreciation from Australia membership on YBhg. Malaysia Divisional President Christina Foo Women in Business: Success in the Malaysia Hair Styling Industry Winnie Loo, founder of A Cut Above hairdressing academy, spoke about how she made her mark in the hair styling industr y at the second Malaysia Women in Business event organised by CPA Australia on 31 May 2007. Winnie told the attendees how growing up in the small town of Menglembu was and how she always dreamed of making it big. It was never in her plans to finish high school, although she did on the insistence of her father. Following high school, Winnie began a business course at Stamford College but realised this was not the career she wanted. She has no regrets for continuing her education and graduated with a diploma in secretarial studies in 1974. Winnie opened her first hairdressing salon, with five employees, before she turned 20. To stay motivated in the early days she used to tell herself that in “every trade there is a master”. When Winnie first entered the industry it was August 2007 • ACCOUNTANTS TODAY YBhg. Datuk Abdul Samad Haji Alias receiving his honorary membership certificate from CPA Australia President Paul Meiklejohn. Looking on is Rusman Amir Zaihan, Malaysia Divisional Deputy President dominated by men, however she had a breakthrough in 1997 when she was acknowledged by the New York fashion institute as a master of the craft. Winnie encouraged attendees to believe “No mountains are too high to climb; you can conquer them, but you must have the passion.” “It’s not about the money, but how well you do what you do,” she said. Currently Winnie employs over 300 staff and has many prominent clients. She believes the key to her success, and the biggest challenge of the business, is staff retention. Most hairdressers will aim to open their own salon after gaining experience but Winnie believes in growing with her staff, and helping manage their future with them. She doesn’t believe in bossing people around, and likes to provide opportunities for young people. All in all, she believes in being a good employer, having a friendly attitude towards your staff and choosing good locations. Believing in yourself will also help you be successful. Winnie says, “I have a fantastic attitude; talent alone is not enough.” AT Winnie Loo “No mountains are too high to climb; you can conquer them, but you must have the passion.” Winnie Loo, A Cut Above 53 News from Professional Bodies The Malaysian Institute of Certified Public Accountants ▼ 49TH Annual General Meeting MICPA held its 49th Annual General Meeting on 23 June 2007 at Seri Pacific Hotel Kuala Lumpur. At its Council meeting held following the AGM, YBhg. Dato’ Nordin Baharuddin was elected as President and YBhg. Dato’ Ahmad Johan Mohammad Raslan as Vice-President of MICPA for 2007/2008. Dato’ Nordin Baharuddin was first elected to the MICPA Council in 2000. He is currently the Chair- man of KUB Malaysia Berhad and formerly Chairman of Ernst & Young Malaysia. Dato’ Ahmad Johan Mohammad Raslan was first elected to the MICPA Council in 2003. He is currently the Executive Chairman of PricewaterhouseCoopers. Two new members were appointed to the MICPA Council for 2007/2008. They are Lee Tuck Heng, Partner of PricewaterhouseCoopers and Seow Yoo Lin, Senior Partner of KPMG. AT 49TH Annual Dinner Recipient of the Anugerah Presiden 2007, YM Raja Datuk Arshad Raja Tun Uda Recipients of the Long Service Award, Khong Siew Ling, Hariah Ismail and Salmiah Aliyas … with the then President of MICPA, YBhg. Dato’ Abdul Halim Mohyiddin and Chief Operating Officer, Foo Yoke Pin MICPA held its 49th Annual Dinner on 22 June 2007 at Mandarin Oriental Kuala Lumpur. The Dinner was graced by YB Dato’ Dr. Ng Yen Yen, Deputy Minister of Finance 1 and was attended by close to 500 members and invited guests. Distinguished guests present included YBhg. Datuk Yusli Mohd Yusof, CEO of Bursa Malaysia Berhad, YBhg. Datuk Rafiah Salim, Deputy Vice-Chancellor of Universiti Malaya, YBhg. Dato’ Ahmad Johan Mohammad Raslan, Chairman of Financial Reporting Foundation, Presidents of several professional bodies and Deans of Universities. Also present were Past Presidents of the Institute. During the Annual Dinner, the Institute presented the Anugerah Presiden 2007 to a member who made exceptional contributions to society, the accountancy profession and the Institute which can be emulated by others. YM Raja Datuk Arshad Raja T un Uda, formerly the Executive Chairman of PricewaterhouseCoopers was the recipient of Anugerah Presiden 2007. He was admitted as a member of MICPA in 1972 and was elected to Council in 1980 and served for 24 years until his retirement from the Council in 2004. YM Raja Datuk Arshad has built a distinguished and eminent career spanning a period of 30 years, both in the UK and in Malaysia. Long Service Awards were also presented by the Institute to three Secretariat Staff, Khong Siew Ling, Cik Salmiah Aliyas and Cik Hariah Ismail in recognition of their loyalty, diligence and dedicated service. AT MICPA–BURSA Malaysia Business Forum 2007 Over the last decade, there have been radical changes in the nature and mode of market competition, spur red by the process of globalisation and liberalisation of markets, as well as developments in technology and in research and development. In line with this, MICPA and Bursa Malaysia will be jointly organising the MICPABursa Malaysia Business Forum 2007 which will be held from 3-4 September 2007 at Shangri-La Hotel Kuala Lumpur with the theme Malaysia — The New Arena. The Business Forum is specially designed to address pertinent issues in today’s business environment. Liberalisation of trade, cross border collaboration as well as mergers and acquisitions have facili- 54 tated greater mobility of capital flows across borders. The opening up of new markets like China, India and Vietnam has spurred greater competition from imports of goods and services, whilst at the same time, creating new market opportunities in other countries. It will also discuss initiatives developed to promote investment in the new regional growth corridor and to strengthen Malaysia’s position as a global Islamic financial hub. The Business Forum will also discuss efforts undertaken by the Government to expand the scope and coverage of its regional arrangements to ensure greater access to markets, trade and investment opportunities and protecting the environment through corporate social responsibility. For further information on the MICPA-Bursa Malaysia Business Forum 2007, please contact Joseph Leong, Training Manager of MICPA at Tel: 03-2698 9622, Fax: 03-2698 9403, e-mail: [email protected] or visit MICPA website at www.micpa.com.my AT ACCOUNTANTS TODAY • August 2007 News from Professional Bodies The Institute of Chartered Accountants in England and Wales ▼ Encouraging Chartered Accountancy in TNB ICAEW participated in the career talk organised jointly by TNB and MIA. Elaine Hong, Head of Malaysia, Learning & Professional Development presented an over view of ICAEW and the ACA route to gaining a professional qualification as a Chartered Accountant to a select group of TNB ICAEW in Universiti Malaya Elaine Hong, Head of Malaysia, Learning & Professional Development was invited to introduce ICAEW and the ACA programme to first year students as part of Universiti Malaya’s orientation programme. Following the signing of the MoU between ICAEW and ICAEW Qualifications via the Experience Route: CFQ and Pathways The ICAEW in response to market demand has recently launched various experience routes to its qualifications in recognition of prior achievements of the professional accountancy community around the world. Corporate Finance Qualification Corporate Finance Qualification, which was jointly developed by the ICAEW with the Canadian Institute of Chartered Accountants (CICA) and the Securities and Investment Institute (SII) practitioners, since its launch, has received over whelming response from the corporate finance community worldwide. Malaysian corporate finance practioners with more than six years of relevant work experience were invited to apply for the Corporate Finance Qualification on the basis of their prior work achievements. The route ended on 31 December 2006 in Malaysia, and was well received. The Diploma and Advanced Diploma stages of the qualification is set to be launched in Malaysia soon ICAEW Malaysian Chapter Annual Dinner on 7 September 2007 The Malaysian Chapter of ICAEW will be holding its Annual Dinner at the J W Marriott Hotel on Friday 7 September 2007. The President, Richard August 2007 • ACCOUNTANTS TODAY executives. It is heartening to note that the top management from corporations like TNB take keen interest to encourage their executives in the Finance division to pursue postgraduate studies towards obtaining a professional accounting qualification. Many potential students were given information on the ACA programme at the ICAEW booth on the same day. AT Universiti Malaya in March 2007, more local graduates will have the option to pursue the Chartered Accountancy qualification in Malaysia upon completion of their BSc in Accountancy from the university. Graduates with the degree may be granted an initial eight credits from the ACA programme. AT although the distant learning programme is currently available. Pathways The ICAEW has recently welcomed to its ranks the first group of associate members to have qualified under its Pathways programme. Launched in March 2006, the scheme enables professionals with other accountancy qualifications and with five years’ experience, to become ACAs. Workshops to help those interested to pursue this route have been successfully conducted in the UK. ICAEW Malaysia office will conduct similar workshops on 1 and 4 August 2007. Interested parties are encouraged to call to reser ve seats as places are limited. The no-exam route involves submission of responses to a series of questions designed for candidates to demonstrate their experience and professionalism. The deadline for submission is 15 October 2007. For further information, visit www.icaew.com/ pathways Call 03-2094 6340 or e-mail Sharon Siew at [email protected] AT “The ICAEW in response to market demand has recently launched various experience routes to its qualifications in recognition of prior achievements of the professional accountancy community around the world.” Dyson, will be attending the black tie event, which is themed “Merdeka” in line with the 50th Anniversary celebrations of Malaysia’s independence. For more information, please contact Kit Lim at 03-2144 5733. AT 55 IFAC NEWS IFAC and Development Agencies Focus on Driving Economic Growth in Latin America and the Caribbean The International Federation of Accountants (IFAC), the World Bank and the Inter-American Development Bank undertook a significant collaborative effort recently by organising an event in Mexico City titled Accounting and Accountability for Regional Economic Growth (Contabilidad y Responsabilidad para el Crecimiento Económico Regional or “CReCER” in Spanish). Over 450 individuals, including representatives of the accountancy profession, governments, the donor community, and academia from 27 Latin American and Caribbean countries as well as 16 other countries participated in this event. “This conference was a landmark event for the Latin American and Caribbean region. Never before have public and private sector representatives from the accounting and auditing profession come together under one roof to discuss the issues facing the region,” stated IFAC President Fermín del Valle. Participants indicated that combating poverty and developing stable economies are the two fundamental and interrelated challenges facing Latin American and Caribbean nations. Discussions focused on achieving quality financial reporting in the private and public sectors, the needs of the accountancy profession in the region, the role of the government in accountancy and accountancy development, and the importance of sustaining good governance and “This conference was a landmark event for the Latin American and Caribbean region. Never before have public and private sector representatives from the accounting and auditing profession come together under one roof to discuss the issues facing the region.” Fermín del Valle, IFAC President 56 ethics. “The conference resulted in a unanimous commitment by international stakeholders to support the improvement of financial reporting and to actively foster economic development in the region. We also heard a clear commitment from participants for convergence to international standards,” added Mr. del Valle. Other outcomes of the meeting included agreement on the following: 䡲 The need for increased input from the Latin American and Caribbean region into international standard setting; 䡲 The development of a single set of high quality Spanish translations of all international standards; and 䡲 Collaboration among countries in the region as well as sustaining relationships with regional and international partners as a requisite for success. IFAC’s Developing Nations Committee and staff will be considering the outcomes of the conference as it advances its work programme in the region. Copies of all presentations made at CReCER will be available soon at www.worldbank.org/crecer. AT 䡲 Provision of internal audit services to an audit client; 䡲 Independence implications related to the relative size of fees received from one assurance client; and 䡲 Contingent fees for services provided to assurance clients. The IESBA is now seeking comments from interested par ties on these three matters. “This second exposure draft addresses the three additional elements that the IESBA considers are appropriate to protect the public interest,” states Richard George, IESBA Chair. “The IESBA intends to issue the revisions from this exposure draft in mid 2008 simultaneously with the revisions to the matters that were exposed in December 2006.” AT Comments on the exposure draft are requested by 15 October 2007. The exposure draft may be viewed by going to www.ifac.org/EDs. Comments may be submitted by e-mail to [email protected]. They can also be faxed to the attention of the IESBA Senior Technical Manager at +1 (212) 286-9570 or mailed to IFAC, 545 Fifth Avenue, 14th Floor, New York, NY 10017, USA. All comments will be considered a matter of public record and will ultimately be posted on IFAC’s website. Additional Proposals for Auditor Independence Issued by IFAC’s International Ethics Standards Board for Accountants IFAC’s International Ethics Standards Board for Accountants Invites Comments on Proposed Strategic Plan The International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board within the International Federation of Accountants (IFAC), has issued an exposure draft proposing to strengthen three components of the independence requirements contained in the IFAC Code of Ethics for Professional Accountants (the Code). In December 2006, as a result of a comprehensive review, the IESBA issued an exposure draft proposing revisions to the existing independence requirements contained in the Code. In that exposure draft, the IESBA indicated that there were three areas that the IESBA would revise in a future exposure draft: The International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board within the International Federation of Accountants (IFAC), is seeking comments from IFAC member bodies, regulators, national ethical standard setters, accountants in professional practice and accountants in business and other interested parties on an exposure draft of its Strategic and Operational Plan for the period 2008-2009. The objective of the IESBA is to serve the public interest by setting high quality ethical standards for professional accountants and by facilitating the convergence of international and national ethical standards, thereby enhancing the quality and ACCOUNTANTS TODAY • August 2007 M E M B E R S ’ U P DAT E consistency of services provided by professional accountants. In considering which new projects and activities should be undertaken, the IESBA conducted a survey of interested parties, including accountants in public practice (from large and small firms), accountants in business, regulators, IFAC members and associates, ethical standard setters and academics, to solicit views on matters that the IESBA should consider in the next few years to achieve its objective. “In addition to suggestions for specific projects, there was a strong message from the approximately 120 survey respondents that the IESBA should place more emphasis on our convergence objective,” states Richard George, IESBA Chair. “The IESBA, therefore, plans to hold four regional forums, starting in late 2008, with the objective of gaining a better understanding of the steps necessary to facilitate convergence of international and national ethical standards and achieve greater global acceptance of the Code.” AT Comments on the exposure draft are requested by 31 August 2007. The exposure draft may be viewed by going to www.ifac.org/EDs. Comments may be submitted by e-mail to [email protected]. They can also be faxed to the attention of the IESBA Senior Technical Manager at +1 (212) 286-9570 or mailed to IFAC, 545 Fifth Avenue, 14th Floor, New York, NY 10017, USA. All comments will be considered a matter of public record and will ultimately be posted on IFAC’s website. Non-Audit Firms Ceased Operation FROM 1-30 JUNE 2007 SELANGOR DARUL EHSAN New Registration NON-AUDIT FIRM NF NO. PERAK DARUL RIDZUAN N.W. Fong & Associates No. 86 & 88, Lintasan Perajurit 17 Taman Perdagangan & Perindustrian Ipoh 31350 Ipoh Tel: 05-545 4816 Fax: 05-548 2543 e-mail: [email protected] 0892 CBL Co. 12A, Jalan Gopeng Off Jalan Goh Hock Huat 41400 Klang Tel: 03-3343 9488 Fax: 03-3342 0488 e-mail: [email protected] 0893 HCL & Associates 308, Tingkat 3, Block A Kelana Square 17, Jalan SS 7/26 47301 Petaling Jaya Tel: 03-7806 5131 Fax: 03-7880 3397 e-mail: [email protected] 0891 0385 Audit Firms AF NO. KEDAH DARUL AMAN 0713 H.K.Lim & Associates No. 65, Lorong BLM 3/1 Bandar Laguna Merbok 08000 Sungai Petani 1589 SELANGOR DARUL EHSAN Choong, Ong & Associates 35-2, Jalan SS15/8A 47500 Subang Jaya 0713 0637 Name Change PULAU PINANG SELANGOR DARUL EHSAN Baha & Co. 0788 16-3, Jalan Dagang SB 4/2 Taman Sungai Besi Indah 43300 Seri Kembangan 0588 Mohamed & Djason 1242 (Formerly known as Mohamed Ng & Co) 18-33-1A, Gurney Tower Persiaran Gurney 10250 Penang Tel: 04-324 4690 Fax: 04-332 5487 e-mail: [email protected] SABAH 47820 Petaling Jaya August 2007 • ACCOUNTANTS TODAY FUA Management 2-3, Jalan 3/64A (2nd Floor) Komplek Udarama 1st Mile, Jalan Ipoh 50350 Kuala Lumpur AUDIT FIRM SABAH Soong & Associates Room 1.01, 49 Mezzanine Floor Jalan Kapar 41400 Klang 0292 Ceased Operation PAHANG DARUL MAKMUR KI Professional Consultancy Ser vices No.10-3, Jalan PJU 8/5E Perdana Business Centre Bandar Damansara Perdana Razak Othman & Co. No. 31-1B Jalan Medan Bukit Indah 5 Taman Bukit Indah 68000 Ampang FROM 1-30 JUNE 2007 Ceased Operation Assaf fal & Co. P.O. Box 60460 91114 Lahad Datu 0534 WILAYAH PERSEKUTUAN SELANGOR DARUL EHSAN A.S. Consultant No. 8, Jalan Muhibbah 1 Taman Muhibbah 1 28000 Temerloh Zulk & Co No. 47, Jalan SS 1/36 Kampung Tunku 47300 Petaling Jaya 0660 Yong Tan K.M. Chin 1536 (Formerly known as Yong Chia K.M. Chin) Room 2, 28-1 Lintas Plaza Lorong Lintas Plaza 3, Luyang 88300 Kota Kinabalu Tel: 088-538 288 Fax: 088-538 233 e-mail: [email protected] 57
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