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Include Left About MIA
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Message from MIA President
People have
short memories. More than a year after the collapse of the
likes of Lehman Brothers, big bonuses for bankers are in
fashion again, and it almost seems like business as usual on
Wall Street. As economies around the world climb out of
recession, what lessons can we learn from this financial
crisis to prepare for recovery?
In the aftermath of
the crisis, there is renewed focus on values as a way to
keep excesses and greed in check. Corporations must realise
that there is more to achieving good governance than just
checking the boxes. The belief that corporations must choose
between doing good and being profitable is no longer
relevant. Corporations must understand that their
responsibility to their stakeholders means being accountable
to the community and environment in which they operate.
Inevitably, as stewards entrusted with the
responsibility of upholding financial truth, accountants
need to understand the importance of human governance - a
"back to basics" approach which focuses on nurturing
individuals who act according to values. At MIA, we have
always emphasised the four cornerstones of integrity,
honesty, objectivity and due care. This is especially
important as accountants are major contributors towards a
nation's economic development. We are therefore "architects"
in nation-building, entrusted with the role of protecting
public interest.
Whatever our roles in our
organisations are - preparer, auditor, board member - I hope
that we will take cognisance of the following:
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To those involved in the
financial reporting chain of organisations: to ensure that at all times,
the flow of reliable and credible financial information in the financial
reporting chain is maintained with zeal;
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To those in commerce and
industry: to provide support and to take leadership in organisations in
a concerted effort of value creation and sustainability;
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To those in the public sector:
to take upon the responsibility of the allocation and spending of funds in a
prudent and effective manner without bias;
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And to those in academia:
to provide the much required research and development for the profession and
at the same time produce graduates who are on par with global standards.
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The year 2010
will be an exciting one for all accountants in Malaysia, as
we will play host to 6,000 of our peers from all over the
world through the 18th World Congress of Accountants (WCOA)
which will be held from 8 to 11 November at the Kuala Lumpur
Convention Centre. We hope that all will aim to be at the
WCOA 2010 for lively discussions and to shape the future of
the profession, in line with the theme 'Accountants:
Sustaining Value Creation'.
Thank you.
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