ICAEW President Acknowledges Malaysian Group Contribution

Visit to Kuala Lumpur by the President of the Institute of Chartered Accountants in England & Wales, Mr. David Illingworth

International Accounting Standards (IAS) and their impact on Malaysian business is just one of the subjects being covered by the President of the Institute of Chartered Accountants in England and Wales (ICAEW) in his visit to the country. Mr David Illingworth will be addressing ICAEW Malaysia on 10 November to celebrate the first anniversary of the organisation.
The visit by Mr Illingworth precedes an International Federation of Accountants (IFAC) Council meeting in Singapore where the challenges of moving forward in the accountancy sector are on the agenda.

Mr Illingworth said: "In Malaysia, unlike in the UK, the term ‘accountant’ is protected. This both recognises the importance of our role and confers the highest trust in our profession to work in the public interest. It is a source of great pride that I am able to talk to policy-makers with confidence about the contribution of Chartered Accountants to national economies around the world, particularly Malaysia, whose work is done to the highest of professional standards, technically and ethically."

Dato’ N K Jasani, Chairman, ICAEW Malaysia added: "The President’s visit raises the profile of ICAEW in this region and we will be discussing expanding the ICAEW role in Asia, not just Malaysia."

During his short visit, the President will be meeting with the Chairman of Petronas, Tan Sri Hassan Marican and one of the topics to be discussed will be the role Petronas can play in providing training for Chartered Accountants in Malaysia. Tan Sri Hassan Marican is also an ICAEW member.

Also on the agenda for the President will be to review the state of the Education & Training in Malaysia with the local Committee. Malaysia is only one of 2 countries outside the UK which offers the training and education of Chartered Accountants. There is potential to attract trainees from the region and as far away as India and Mauritius. It is cheaper for the students to undergo their training here as compared to the cost of living in the UK.
ICAEW Malaysia which was formed just over a year ago as the Malaysian Chapter of the Institute has been busy promoting the Institute to the Malaysian public as well as to offer their members here in Malaysia the opportunity to network with their fellow members. Monthly social meetings are held in KL and on September 20 this year, the ICAEW Malaysia held its first Anniversary Ball at the Westin Kuala Lumpur.

The Malaysian Chapter has also launched its own website at www.icaew.com.my so that members can find out more about local activities, both social and educational.
The ICAEW Malaysia also organizes seminars and talks for the members on various topics. Recent talks include one on Risk Management and one that was given by the Chairman of the Securities Commission, Datuk Ali Kadir on Corporate Governance – A Key to a Vibrant Capital Market.

As it is the Ramadhan month, the President will be joining the members for a Buka Puasa at the Mutiara Hotel in KL in the evening on the 10th November.