At the MIA International Accountants Conference 2018 (MIA Conference 2018), accountants were urged to embrace technology to transform the profession and make it more business relevant, while upholding the Government-endorsed values of Competency, Accountability and Trust in order to protect the public interest and build the nation.<\/p>\n
MIA\u2019s flagship Conference, which is certified as the largest gathering of accountants in Malaysia by the Malaysia Book of Records, took place on the 9 \u2013 10 October at the Kuala Lumpur Convention Centre. MIA Conference 2018 set fresh attendance records, drawing close to 3,100 delegates compared to 2,980 delegates who turned up for MIA Conference 2017.<\/p>\n
In the same vein, guest of honour Deputy Finance Minister Datuk IR Haji Amiruddin Hamzah exhorted accountants to be \u201ccompetent, professional and accountable for the monies under their scrutiny\u201d, referring to accountants as \u201cguardians and representatives of the public interest.\u201d<\/p>\n
Datuk Amiruddin also touched on the progress of the Accountant General\u2019s Department of Malaysia, Ministry of Finance in its transformation to implement accrual accounting from modified cash based to accrual based.<\/p>\n
\u201cThe integrated Government Financial & Management Accounting System (iGFMAS) has been \u201cLive\u201d effective 1 January in all ministries and agencies, the system has the facility to produce dual ledger reporting both in modified cash and accrual based.<\/p>\n
\u201cAssets and liabilities information in accrual based will subsequently allow ministries and agencies to be financially accountable for their respective revenues and expenditure.<\/p>\n
\u201cThis will add depth to the accountability and transparency of the management of the public sector resources,\u201d added Datuk Amiruddin<\/p>\n
He also thanked MIA for its support for the implementation of public sector accrual accounting, which includes technical support, support for public financial management enhancement, support of compliance with international standards specifically the Malaysian Public Sector Accounting Standards (MPSAS), and capacity-building for accountants in the public sector.<\/p>\n
Commending MIA for strengthening its enforcement in order to enhance regulation, Datuk Amiruddin said that, \u201cThe Government believes that more can be done to strengthen MIA\u2019s powers and we are looking into enhancing and refining the Accountants Act 1967 to further empower regulation and enforcement of the profession.\u201d<\/p>\n
In his Conference remarks, MIA president Salihin Abang explained that MIA chose the theme of \u201cRiding the Digital Wave, Leading Transformation\u201d in order to expose MIA members and delegates to the current potentials and challenges faced by the profession, especially those caused by digital disruption and changing regulations.<\/p>\n
\u201cWe are advocating for faster and better technology adoption among our members and the profession, for example, robotics process automation, artificial intelligence, and big data analytics so that you can become more effective and relevant business partners who create value for your customers,\u201d said Salihin.<\/p>\n
Earlier in her welcoming remarks, MIA chief executive officer Dr. Nurmazilah Datuk Mahzan had emphasised the statutory role of MIA as the regulator and developer of the accountancy profession in order to support nation building.<\/p>\n
She briefed delegates on MIA\u2019s key advocacy and thought leadership, such as the MIA Digital Technology Blueprint.<\/p>\n
\u201cWith the rise of the digital economy, we are witnessing today what many would call the \u201cFourth Industrial Revolution\u201d, which is an age of digital disruption, through automation, the rise of the \u201csharing economy\u201d, and other technology-driven innovations that will change the world\u2014in fact, our lives\u2014in ways we are only beginning to understand,\u201d said Dr Nurmazilah.<\/p>\n
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