Accountancy

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A snapshot of the opportunities for accountants in Malaysia

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Accountancy

  1. 1. WHAT ACCOUNTANTS DO? • Linking business and financial data to decision making • Financial reporting • Management accounting • Regulatory compliance • Financial management • Capital raising • Capital and operational budgeting • Cash flow management • Governance, risk and compliance • Directors, CEO, Audit and Risk committees • Risk management and internal control • Compliance with regulations
  2. 2. CORPORATE SECTOR Directors, CEO and governance committees • Set strategy • Implement strategy • Ensure risks are properly governed CFO • Financial and management reporting • Treasury duties Finance function • Day to day accounting operation • Compliance
  3. 3. SME SECTOR Financial reporting • Provide financial information • Support decision making Financial management • Cash flow management • Fund raising Compliance • Statutory accountants • Taxation • Other financial related matters
  4. 4. ACCOUNTANCY SERVICES Auditing and Assurances • Financial statement and Internal Auditing • Accounting Advisory • IT Assurance Transaction services • Merger and Acquisition support • Valuation and Business Modelling Taxation • Direct taxation • Indirect taxation • Tax planning and advisory
  5. 5. PUBLIC SECTOR Federal and State governments • Economic planning • Finance function Statutory bodies • Planning • Finance function Regulators • Policy development • Surveillance • Enforcement
  6. 6. HOW TO BE AN ACCOUNTANT? Institutions of higher learning Entry level programmes offered by professional accountancy bodies Malaysian Institute of Accountants Professional accountancy bodies Private sector Accountancy practices Public sector Required working experience period Professional accountancy programmes Competency assessments Employers and approved training providers provide work experience and mentoring to accountancy graduates Ensures baseline competencies are attained before admission to membership Employers provide regular feedback to ensure baseline competencies remains relevant to employers MIA sets ethical standards and regulates the conducts of members Admitted based on Part 1 of the First Schedule of the Accountants Act Admitted based on Part 2 of the First Schedule of the Accountants Act
  7. 7. GENERAL ROLE AND COMPETENCY PATTERNS FOR ACCOUNTANTS Executive LeadershipGraduate • Understanding core technical concepts • Technical and communicatio n skills Professional • Application of advanced technical concepts • Leadership and communicatio n skills Senior management • Strategic and enterprise thinking • Specialised technical skills • Leadership and communicatio n skills Leader • Strategic and enterprise thinking • Advanced leadership and communicatio n skills

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