Like most segments of the society and economy, the profession endured an unprecedented annus horribilis in 2020. To help our members through the worst of the crisis, the Institute rolled out several initiatives to help alleviate the difficulties arising from COVID-19 and the related crisis management measures, such as the government-imposed Movement Control Orders (MCOs). The link to the MIA COVID-19 page can be accessed here.
“Our approach was to act swiftly and agilely in response to COVID-19 to clear up uncertainty and provide access to resources and assistance to protect members’ wellbeing,” stated MIA President Dr. Veerinderjeet Singh. The Institute’s initiatives included engaging with the authorities, accelerating digital transformation to support remote work processes, and scaling up virtual member services and virtual continuing professional development programmes for the upskilling of members.
Specifically, the Institute:
Members can Count on Additional Resources and Assistance in 2021
Although the outlook for 2021 is brighter as the mass vaccination programmes may confer herd immunity and restore public trust in normalising activities, the economy is still lacklustre. To assist members in weathering the ongoing economic slowdown, the Institute will continue to provide as much assistance as possible to members that have been adversely impacted, such as those affected by downsizing and vulnerable small and medium practitioners (SMPs). This includes the ongoing implementation of the MIA Member Assistance Programme.
The additional resources include:
“We hope that the microsite will help members navigate the resources available out there more efficiently. Meanwhile, the hotline aims to support members by offering them a friendly ear and advice that can help them manage their stress levels effectively. Finally, the MIA Member Assistance Programme will help members in their wellbeing,” explained Dr. Veerinderjeet.
These resources will assist members with crisis management to build up their resilience and fortitude. Simultaneously, the Institute will keep pressing for the profession’s transformation for future relevance and sustainability. Transformation is also imperative for members to be accepted as strategic business and financial advisors as well as creators and managers of value, as accountants’ roles evolve in the digital economy of tomorrow.
To support members’ digital adoption and equip them for the rapidly digitalising landscape, MIA will continue to implement the MIA Digital Technology Blueprint through its 3-year operational plan (July 2019 – June 2022) that features 39 initiatives with over 250 outputs and activities. This harmonises with the nation’s thrust to join the ranks of digital economies via the recently launched MyDigital and Malaysia Digital Economy Blueprint. To learn more about the impact of MyDigital and the Malaysia Digital Economy Blueprint to members, click here.
To support the specific transformation of members in public practice, the Institute will continue to provide a broad spectrum of essential services in practice management, applicable to the following phases of a firm’s lifecycle:
MIA hopes that all members and the profession will benefit immensely from its initiatives and aspires to improve its value-added services further for members’ wellbeing.
“We thank members for their consistent and unwavering support of MIA’s efforts in these challenging times,” said Dr. Veerinderjeet. The latest MIA Member Satisfaction Survey 2020 showed that 79% of respondents are satisfied with the Institute, similar to the 2018 Survey. The survey also showed that 82% of members are proud to be MIA members.
“Furthermore, the Survey also showed that 87% of respondents are satisfied with the resources and updates provided by the Institute on the recent COVID-19 crisis. MIA is committed to safeguarding members’ wellbeing and resilience as we forge ahead into the new business normal,” concluded Dr. Veerinderjeet.