Berita CPA (Jan Apr 2012)

CPA Australia Malaysia

KDN PP9247/03/2013 (032158)

Message from President

As a member body, service is at the heart of what we do as an organisation. CPA Australias Corporate Plan 2012-2014 sets out to establish CPA Australia as the best member service organisation in the world. Considerable effort is being taken to deliver service that is world-class in standard. With members having diverse careers and knowledge needs that extend beyond core accounting skills, we are building our capability and our offer in the use of digital communication to provide members with access to knowledge and resources that keep their skills current and relevant. Every effort is being taken to ensure CPA Australia remains relevant in a global environment and as such we are taking our brand to a wider audience. Recently we signed a Memorandum of Understanding with the University of Malaya to offer professional segments to the Universitys fourth year Bachelor of Accounting students. This is in line with the governments call to strengthen the quality of accountants with a recognised professional qualification. It was a natural progression of the good relationship CPA Australia has had with the University of Malaya for many years. This year, over 600 students and experienced hires thronged CPA Australias Career Expo at the Kuala Lumpur Convention Centre to gain insights on market trends in accounting and learn about the expectations of various employers. In addition to Kuala Lumpur, thousands have attended our Expo across Australia, Hong Kong and Singapore to meet with employers to discuss career opportunities. The Career Expo supports our engagement with universities and early career entrants by bridging the gap between study and finding a meaningful career in addition to helping employers by bringing them talent from Universities. Congratulations to our members Andrew Heng CPA and Amar Huzaimi CPA, who made the list of CPA Australias inaugural INTHEBLACK 40 Young Business Leaders list. The list showcases highly talented individuals across regions and sectors. Andrew Heng, the former Malaysian Divisional President, is Managing Partner of Ferrier Hodgson MH and Executive Partner of Baker Tilly Monteiro Heng. Amar Huzaimi heads economic regulation as General Manager in Telekom Malaysia. Read about their achievements and those of others in the April issue of INTHEBLACK. The same issue also carries a heart-warming story on Ipoh member Anna Wongs volunteer work with charities and the satisfaction she gets from giving back to society. Heartiest congratulations also goes to Datuk Ranjit Singh FCPA, our former council member and Deputy President on his appointment as Chairman of the Securities Commission. A well deserved recognition indeed. We have a fantastic range of members, from those soaring professionally to those quietly giving back to society. We want to showcase these members in our weekly e-newsletter, CPA Update, to inspire others to excel, a regular feature we introduced this year. However, we may not be aware of the achievements of many of our members as their records with us are not updated. If you fit the bill or would like to suggest a member to be featured, please forward your suggestions to Nirmala.ramoo@ cpaaustralia.com.au for consideration.

Josephine Phan Su Han FCPA

Malaysia Divisional Council

President Josephine Phan Su Han FCPA Deputy Presidents Dr Edward Lim FCPA Datuk Dr Mohamed Fowzi Haji Razi FCPA Councillors Alex Ooi Thiam Poh FCPA Andrew Heng CPA Chong Aik Lee CPA Gabriel Teo Chun FCPA Shaun Lee Chong Leng CPA Prof Dr Normah Omar CPA Prof Dr Shamsul Nahar Abdullah FCPA Teresa Chong Dee Shiang FCPA Wong Chin Aik FCPA

Contacts for Berita CPA Nirmala Ramoo (Editor) nirmala.ramoo@cpaaustralia.com.au Bindiya Pransukhlal bindiya.pransukhlal@cpaaustralia.com.au Please forward all queries and suggestions to the editor.

Printer Percetakan Kam Heng Sdn Bhd 11, Jalan SR4/18, Serdang Raya 43300 Seri Kembangan, Selangor T +603 8943 6570 F +603 8948 0931

Berita CPA (Jan Apr 2012) CPA Australia Malaysia

New Year Networking event
CPA Australia Malaysia office ushered 2012 with the first member networking event for the year on 12 January. Speaker David Meow, a level four Bazi enthusiast of the Master Academy of Chinese Metaphysics did a post-mortem on 2011 and proceeded with his analysis on the market outlook for 2012, using both Chinese and Western ephemerical analysis. David covered a broad spectrum of the macroeconomic outlook, and suggested investment approaches for the year, followed by individual zodiac assessments. The evening talk was well attended, with a total of 70 participants. CPA Australia is in talks with several other universities in Malaysia as well as other countries to explore collaborative opportunities. The agreement benefits students and University of Malaya in various ways, among others, by engaging in a professional program in earlier stage, they will be more attractive to employers and have better opportunity for future career advancement, said Associate Professor Dr. Che Ruhana Isa, Dean of Faculty of Business and Accountancy, University of Malaya. CPA Australia is a strategic partner. This is a smart partnership that has built trust and confidence between both institutions, she added.
Strengthing ties with the Universiti of Malaya - (from left, front row) Priya Terumalay, General Manager Malaysia, Josephine Phan, Divisional President Malaysia, Christina Foo, Director, Board and Adam Suess, Regional Manager Education International, Business Development of CPA Australia

Tax workshops agreed by LHDNM CPA Australia and University of Malaya partnership to help graduate employment
CPA Australia and the University of Malaya now offer professional segments to the universitys students to give them a head start in their professional accounting career. In a new agreement with the University of Malaya, eligible Bachelor of Accounting students can undertake professional segments from the CPA program in the fourth year. The Economic Transformation Programme (ETP)identified Business services as a catalyst to transform Malaysia into a knowledge economy, grouping accountants along with lawyers and tax experts as key players. One of the proposals of the ETP was to strengthen the quality of accountants with recognised professional qualifications. As accountants increasingly act as strategic advisers for businesses, we need more well trained, highly competent and highly ethical professional accountants in the world. Building local capacity is imperative to increase the percentage of skilled workforce in business services here, said Priya Terumalay, General Manager Malaysia, CPA Australia. The professional segments in the degree will give the Universitys accounting students a significant advantage over other graduates as we will be able to align them with employers who will pick them up upon graduation, Priya added. CPA Australia has a structured Recognised Employer Program intended to help employers attract, develop and retain top talents, providing them the necessary tools and resources to invest in accounting and finance professionals. As the CPA Program is benchmarked at postgraduate level and our members are compelled to complete a degree prior to full membership of CPA Australia, University of Malaya was considered strategically aligned to start this initiative because of its position as a top internationally ranked research university in Malaysia, said Priya. Two units of the CPA Program will be offered, facilitating up to one third completion of the CPA Program, while students complete their degree. Students who have completed all of CPA Australias Foundation level-aligned subjects in the first three years of the Bachelor of Accounting degree will be eligible to enrol. Selected tax workshops offered by CPA Australia have been agreed by Lembaga Hasil Dalam Negeri Malaysia (LHDNM). The CPD hours of these selected tax workshops are recognised by the Ministry of Finance as Continuing Professional Development (CPD) / Continuing Professional Education (CPE) points for the application and renewal of tax agent licence. The following is a list of workshops available in the second quarter of 2012: + Module 4 single-tier system, IHC and group relief + Transfer pricing and tax considerations + Module 5 New Public Rulings + Tax deductible expenses latest developments and practical issues + Module 6 withholding tax and cross border transactions + Capital allowance and industrial building allowance Please refer tothe Training Essentials brochureon the website for more information.

Long-standing members of 30, 40 and 50 years, with CPA Australia General Manager- Malaysia Priya Terumalay (first from left, seated), Malaysian Divisional President Josephine Phan Su Han (third from left, seated) and Malaysian Divisional Council members.

Member recognition evening

A special Member Recognition Evening was held to celebrate members of 30, 40 and 50 years, as well as those conferred CPA or FCPA status. Approximately 112 members and guests attended the event at Double Tree Hilton Kuala Lumpur on Tuesday 20 March. CPA Australias General Manager Malaysia, Priya Terumalay welcomed guests and congratulated them on their achievements. Malaysian Divisional President, Josephine Phan Su Han, said members are strategists who represent vision, leadership and innovation and inspire confidence. Your collective commitment to professionalism; to keep your skills current; your ethics, integrity and responsibilities to other members these are factors which underpin and uphold a rich tradition of professional conduct in the public interest, she added. Certificates were presented to 38 members who achieved CPA status in 2011 and 2012. One recipient, Rama Sockalingam Nagappan, felt the CPA designation was an added advantage as it helped him move up the corporate ladder faster. The 27-year-old internal audit managersaid, It is important to have a good, understanding boss when you are studying on a part-time basis, as it can be quite challenging to juggle both work and studies.

David Meow delving into Chinese metaphysics to analyse market outlook for 2012

Berita CPA (Jan Apr 12)

For FCPA certificate recipient, Professor Mahendhiran S. Nair, Head of School, Monash University Sunway campus, the recognition presentedan opportunity for him to contribute to the profession and the body. As an accounting body, CPA Australia plays an important role in producing strategic and globally competitive business leaders who can contribute towards a healthy corporate sector, he said. John Edward Arkosi was among six members who received 30-year membership pins from Josephine Phan. The Senior Vice President and Group Head, Group Compliance and Acting Head, Group Corporate Assurance of Sime Darby Berhad, said he was pleased and proud to be in the membership for 30 years, and recalled his days as one of the founding councillors of CPA Australia in Papua New Guinea, amongother notable achievements throughout the years, as a member. He advised young members pursuing the CPA Program to go beyond accounting boundaries. You need to have a solid business acumen, in order to be a strategic partner in managing business. The CPA designation is an excellent stepping stone to a wide range of career opportunities, and gives you an automatic standing of recognition, within the community and profession. Wong Tze Mun, an active member who is a regular at Malaysia office events, was the sole recipient of the 40-year membership pin. The self-employed practitioner advised young members to be competent in their work, and maintain high integrity at all times. Chan Shong Ying, Ho Siew Yin, Lim Ung Eng and Ooi Peng Eng were recognised for their 50-year memberships. Ooi still runs his own public practice firm in Brickfields. The evening ended with a cocktail reception and networking session.

Annual Presidents meeting

Divisional and Branch Presidents were hosted by management to a special do in Melbourne office on 17 February where they were briefed on CPA Australias direction for 2012 and key areas of the business. Also present were Divisional and Branch General Managers, the executive management team, and Board Directors John Cahill, Penny Egan and Graeme Wade. Board Director and President John Cahill presented the Presidents with a token of appreciation for their services, specifically their role in positioning CPA Australia via representation on international bodies and influence in the profession globally.
Denis Pratt, Head of Accounting Policy, CPAAustralia, addresses the audience.

Putting higher education to work

CPA Australia participated in a higher education seminar organised by the Ministry of Higher Education Malaysia on Thursday 23 February. The report seminar, Putting Higher Education to Work Skills and Research for Growth in East Asia, was organised in collaboration with Universiti Tun Abdul Razak and the World Bank to present analytical and policy findings of World Banks report Putting Higher Education to Work Skills and Research for Growth in East Asia. Gerald Fernandez, Senior Manager Employer, Business Development, CPA Australia, joined panellists including: + Dr Mohd Gazali Bin Abas, Director Human Capital Development, Economic Planning Unit + Prof. Dr Morshidi Bin Sirat, Deputy Director General (Sector IPTA) Department of Higher Education, Ministry of Higher Education + Prof. Fauziah Md. Taib, Director of IPPTN, National Higher Education Research Institute + Shahbudin Bin Man, Director of Policy Development Division, Department of Polytechnic Education + Prof. Datuk Mohd Yusuf Kasim, Vice Chancellor Asia Pacific University College of Technology and Innovation The panellists discussed urgent challenges and policy priorities regarding higher education in Malaysia. There is a big gap between what the industry requires from a graduate and the knowledge that the graduate has acquired. We need to bridge the gap and get the industry involved in academia, said Gerald. The two-day seminar was held to: + enhance awareness of trends in higher education development in East Asia + reflect on the main findings and policy implications of the regional report for Malaysia + discuss key directions for reform in Malaysia in terms of higher educations continuing contribution to economic growth and productivity + identify higher education and skill-related areas for further collaboration between the World Bank and the Malaysian Government

Malaysian Divisional President Josephine Phan receiving a token of appreciation from Board Director and President John Cahill

CPA Australia at MIAs business symposium

Denis Pratt,CPA Australias Head of Accounting Policy, was invited to speak at the Accountants in Business Symposium organised by the Malaysian Institute of Accountants (MIA) at the Royal Chulan Hotel, Kuala Lumpur, from 21-22 March. Speaking to a diverse audience on 22 March, including practitioners, public sector personnel, academics and industry players, Denis spoke on what organisations need to consider in shifting to integrated reporting. Later that day, a dialogue was held at the Malaysia office for members where Denis led a robust discussion with members on the role of integrated reporting in improving credibility. He delved into the opportunities and challenges in Integrated Reporting and addressed a number of questions on the requirements of combining a financial and sustainability report, and the transition to better organisational external reporting. Integrated reporting needs to convey the reality that integrated strategic thinking is fundamental to a companys ability to publish a truly integrated report. It will be through this process of integrated thinking that organisations are able to create and sustain value. The effective communication of this process can help stakeholders to understand an organisations past and current performance as well as its future resilience, Denis said. Fourty-four members attended the event.

Panellists discussing World Banks findings on higher education in the region

Berita CPA (Jan Apr 12)

Career talks and fairs

In a continuous effort to engage with tertiary students and to create awareness and benefits of the CPA designation, CPA Australia Malaysia office participated in eight career talks and four career fairs at academic institutions nationwide from January to April. The first series of career fairs took place in Multimedia University Cyberjaya and Melaka campuses, where Relationship Manager Education, Business Development, Edwin Wong, spoke with undergraduates visiting the CPA Australia booth. The two-day fair was held on 4 and 5 January in Cyberjaya campus and 11 and 12 January in Melaka campus. The Business Development Education team also participated in career fairs in Universiti Tunku Abdul Rahman Sungai Long campus on 5 April and Monash University Sunway campus on 17 April. As a sponsor of the Inter-Varsity Quiz (IVAQ) organised by Multimedia University Melaka campus, the team had the opportunity to meet finance and accounting students from various academic institutions who attended the IVAQ exhibition on 17 March. It was a great opportunity for CPA Australia representatives to network with fresh school leavers and parents who attended Monash Universitys School of Business Open Day on 14 April. The CPA Australia booth was a one-stop information centre for students interested in accounting and finance career pathways. The team presented career talks in INTI International University on 18 January, Swinburne University of Technology, Sarawak on 14 March, Curtin University Sarawak on 16 March, HELP University on 20 March and 4 April, and Sunway University on 23 March and Universiti Tunku Abdul Rahman Sungai Long campus on 4 April to share the advantages of the CPA Australia designation and benefits of CPA Passport membership. Meanwhile, Malaysian Divisional Deputy President Dr Edward Lim spoke on career opportunities in the accounting and finance sector to fresh school leavers who attended Swinburne Universitys Open Day on 24 March.

(Hons) offered by UTAR and Bachelor of Accounting (Hons) offered by OUM. Taylor Universitys Bachelor of Arts (Hons) Accounting and Finance has also been accredited. The list of accredited courses are available at cpaaustralia.com.au.

CPA Program - Additional learning resources now available

To help candidates complete the CPA Program, CPA Australia has developed a wide range of support. Thismay be provided as part of enrolment and membership fees, while somemay be purchased through third-party providers. The additional learning support range now includes: + CPA Program professional level workshops and webinars designed to help understand key and difficult technical concepts and elements from the study manuals. + BPP Learning Material revision tools Revision kits for compulsory segments of the professional level (i.e. Ethics & Governance, Financial Reporting, Strategic Management Accounting and the capstone segment Global Strategy and Leadership) and Pass cards (available for all Foundation Level and Professional Level segments excluding Singapore Tax & Malaysia Tax). Go to cpaaustralia.com.au Professional Development CPA Program Additional learning support to find out more.

Relationship Manager Education, Business Development Edwin Wong giving a presentation to students at University of Technology, Sarawak

Showcasing best practice in public practice

CPA Australia has developed a series of resources to showcase individuals and firms which support best practice in the field of public practice. The resources promote the public practice sector to potential members, as well as assist existing members in the sector to further develop their careers. Ten members from Hong Kong and Malaysia and 19 from Australia, were interviewed on 18 themes common to public practice such as client relations, marketing, strategic leadership, community engagement, specialisations and skill sets for public practice. Access individual full length interviews or segments which provide collective responses on: entering public practice, owning a practice, the benefits of public practice, career highlights, the meaning of success, workplace culture, client relationships, specializations, marketing, social media, technology, thought leadership, community engagement, skill sets, top tips, pathways beyond partnership, work-life balance and the future. Go to cpaaustralia.com.au Knowledge portals Practice management Tookit to access the interviews.

Crowe Horwath: Recognised Employer Partner

Crowe Horwath is a Recognised Knowledge Partner under CPA Australias Recognised Employer Program. Crowe Horwath representatives, Poon Yew Hoe, Managing Partner, and Partners Mok Wai Ling and James Chan Kuan Chee, attended the certificate presentation on Tuesday 17 January. CPA Australia representatives Malik Anwar, Regional Manager, Employer International, and Serena Wu, Relationship Manager Business Development, also attended.

New accredited courses

Universiti Tunku Abdul Rahman (UTAR) and Open University of Malaysia (OUM) are the latest additions to the list of universities recognised by CPA Australia. Accredited courses include Bachelor of Commerce (Hons) and Bachelor of Accounting

CPA Australia Career Expo draws in the crowd

Over 600 jobseekers and fresh graduates visited CPA Australias Career Expo in the Kuala Lumpur Convention Centre on Saturday 21 April. Visitors came to connect with top employers in the country to know the options available for accountants in finance, shared services and related industries as well as gather industry insights that fresh graduates or those who are still studying are unlikely to have. Visitors comprising final year accounting, finance and business undergraduates, as well as accounting and finance professionals took the opportunity to meet potential employers that participated in the fair. This included students from Multimedia University Melaka campus, Universiti Sains Malaysia, Sunway College Johor Bahru and Universiti Teknologi Malaysia. The annual career fair hosted by CPA Australia had a total of 26 exhibitors, including accounting firms, banks, shared services organisations and other multi-national organisations. Visitors networked with exhibitors to get a feel of the different work cultures in organisations and submitted their resumes for potential job opportunities. In his opening remarks, Malaysian Divisional Council member Alex Ooi said that with bilingual skills and international experience being two important hiring factors for employers, having a respected international professional qualification such as the CPA Australia designation, will be an advantageous career strategy. CPA Australia General Manager Malaysia Priya Terumalay said that the annual event supports the organisations engagement with universities

and early career entrants by bridging the gap between study and finding a meaningful career. It also helps employers to meet talent from universities, she added. The expo was packed with panel discussions and talks from industry experts. Panellists for the first session had a lively discussion on The 2012 Accountant - How accountants have evolved over time, moderated by Priya Terumalay. PwC Partner Pauline Ho, along with Tai Lai Kok, Executive Director of KPMG; Ang Weina, Executive Director of Deloitte and Gloria Goh, Partner of Ernst & Young shared their views on sought-after key attributes of a potential employee, their own work experiences and useful tips for fresh graduates. The second session comprised of panellists from shared services organisations who discussed Whats the demand for graduates in Shared Services. The event was supported by Multimedia Development Corporation (MDeC) and Graduan as the official Career Expo Partner. Exhibitors at the Career Expo included Averis, Baker Tilly Monteiro Heng Ferrier Hodgson MH, BDO, BP, British American Tobacco, Cheng & Co, Crowe Horwath, Dell, Deloitte, Ernst & Young, Hewlett-Packard, IBM, Intel, Kimberly-Clark Corporation, KPMG, Maybank Group, Moore Stephens AC, PwC, RHB, Schlumberger, Shell Business Service Centre Sdn Bhd, SJ Grant Thornton, Symphony House, and Tan Chong Motor Holdings. The Career Expo is held across Australia, Hong Kong, Singapore and Malaysia to provide a platform for individuals seeking career advice, information and recruitment trends to build a career based on professional accounting skills.

Malaysian Divisional Council member Alex Ooi speaking at the CPA Australia Career Expo

The CPA Australia Career Expo was an excellent platform for fresh graduates to meet potential employers.

CPA Australia - Malaysia office Suite 10.01, Level 10 The Gardens South Tower Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur T +603 2267 3388 F +603 2287 3030

cpaaustralia.com.au

CPA242372_WL 4/2012