Winston Churchill said that: “Success is not final, failure is not fatal: it is the courage to continue that counts.” He also said that: “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” This is the mentality of perseverance and resilience that MIA has embraced as we embarked on our quest to reform the profession, guided by the recommendations of the government’s Committee to Strengthen the Accountancy Profession (CSAP) Report.

Since then, I am proud to list what we have achieved despite limited resources. Relevant legislation and good governance is essential to reinforce public trust and improve the quality of accoun-tancy services; to that end, MIA is propos-ing amendments to the Accountants Act of 1967, we have beefed up our disciplinary and enforcement processes, including streamlin-ing the Practice Review. Going forward, we will continue to educate and develop members and accountants to ensure compliance and competency. But there will be no quarter given to those who purposely break the law and our ethical codes, e.g. by outsourcing work to bogus accountants.

IFAC correlates economic health to con-tributions from the accountancy sector. Hence, MIA focuses on developing competent accountants across all tiers to support economic development and nation-building. We are finalising our Competency Framework to map out skillsets and career paths and align quality with international standards. We are engaging with youth to attract them to the profession, and build up the talent pool. Through MyPAC, we are training Bumiputera professional accountants from underprivileged backgrounds to increase the numbers, while effecting social change. We are also exposing accountants to the impacts of digital disruption, so they will be relevant and valuable in the unfolding digital economy.

These are just a few of our ongo-ing initiatives, which span the entire ecosystem of the accountancy pro-fession and the national economic and social landscape. There are too many to list in this short message.

Suffice to say that MIA – guided by the CSAP recommenda-tions – is reforming in order to achieve our overarching vision of supporting nation-building through strengthening the pro-fession. Despite disruption, we hold true to the constant and unchanging values of our profession. We are guided by our internal professional code to strive for what is true and right to protect the public interest. The thematic values of the MIA 50th Anniversary – Integrity, Accountability and Trust - articulate our raison d’etre perfectly.

Of course, MIA could not have worked alone; we are highly dependent on collabora-tion and the goodwill of our stakeholders. I look back with gratitude to all stakeholders for their support. I am grateful for being elected to the presidency in an institute and a profession dedicated to developing people, sustaining business, and most of all, to build-ing the nation. I pay tribute to my colleagues on the Council and in management for their support and dedication. I am delighted to have been part of MIA’s restructuring as it sought to strengthen the Institute in order to strengthen the profession and contribute to the nation. The change management exer-

cise, ably led by Dr. Nurmazilah, the Chief Executive Officer has looked carefully at our people capabilities and revealed high potential leaders from MIA’s internal ranks. With the right guidance and mentorship, I am confident that MIA’s team will be able to position the Institute as a nurturing regulator for the accountancy profession and the leading Malaysian profes-sional body advocating national interests.

Charles Darwin said that “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” I wish MIA and the profession all the best as it seeks to future-proof itself and deliver value as it writes the next chapters of its history. n

i am Grateful for beinG eleCted to the PresidenCy in an institute

and a Profession dediCated to develoPinG

PeoPle, sustaininG business, and most of all, to buildinG

the nation.

26 July 2017 marks the end of my term as President. While it has been truly challenging, it has also been deeply rewarding to serve during this watershed in the evolution of the Malaysian accountancy profession.

a fareWell to arms

President says | dATo’ MohAMMAd FAiz AzMi

July / Aug 2017 | accountants today 7