The Association of International Certified Professional Accountants (the Association), which brought together The Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA), have announced a new global hub in Kuala Lumpur to support members and students. The move demonstrates a significant commitment to the accountancy profession in Malaysia and Southeast Asia that will also benefit professionals globally.
The Association was established in January 2017 by members of CIMA and AICPA to drive a dynamic accountancy profession equipped to drive economic growth and stability. It leverages the strengths and century-long heritage of both organisations to advance that mission. The new KL hub, for instance, builds on CIMA’s four decades of history in Malaysia. It first established a presence in the country in 1977.
The new hub is one of three in the world, along with London (UK) and Durham, North Carolina (USA). Together, they serve 667,000 members and students across 184 countries and support both Chartered Global Management Accountant (CGMA) designation holders and Certified Public Accountants (CPAs) with the latest news, professional insights, best practices and continuing professional development.
The announcement of the new office coincides with the release of the Association’s new research on the future of finance, which indicates that a majority of the world’s finance leaders believe accounting competencies will need to change significantly over the next three years as businesses adapt to an unprecedented pace of technological innovation.
“Finance professionals need to go beyond what they do today to be the strategic partners and value drivers that businesses need not just to navigate change – but thrive in it,” said Irene Teng, the Association’s Managing Director for Global Markets, at the launch of the hub. The event was officiated by Teng, Lawson Carmichael, Chief Operating Officer of The Association and Francis Chan, Council Member of CIMA.
“This new hub will be a powerful catalyst for the profession here in Malaysia, Southeast Asia and around the world, delivering the support, insight and foresight accountants need to meet today’s demands and tomorrow’s challenges,” said Teng.
With the creation of the new hub, the Association has taken new office space at Level 10, 1 First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor and expects to grow its workforce in Malaysia this year.
At the launch of the hub, guest of honour Yang Berhormat Dato’ Ir. Haji Amiruddin Hamzah, Deputy Finance Minister of Malaysia commended the Association for its role in developing the profession. As the Deputy Finance Minister was attending the installation ceremony of the new 16th Malaysia King, he was represented by a member of his office who delivered his speech on his behalf.
“I believe that if the Association plays its role with all of this transformation, not only will we have more help in meeting the target for more professional accountants in Malaysia, but it would also help us in having more global certified employees that will make this shift happen, henceforth setting the path for Malaysia to become a developed nation in the near future,” said the deputy minister.
“The 2019 Budget already entails part of this importance for the country and specifically for this agenda in increasing the number of accountants and strengthening the developments of the accountancy profession to support economic growth.”
“Therefore, I fully support The Association to be part of this agenda and to work closely with the relevant partners such as the Malaysian Institute of Accountants, the Malaysia Professional Accountancy Centre (MyPAC) and Yayasan Peneraju Pendidikan Bumiputera for their ‘Program Peneraju Professional’ (professional certifications in finance and accounting) for us to all achieve this together,” he concluded.