Malaysian Institute of Accountants
Encyclopedia
The Malaysian Institute of Accountants (MIA) is a statutory body responsible to regulate the accountancy profession in Malaysia. It is the sole organisation in Malaysia with the right to determine whether or not a person is qualified to be recognised as an accountant by virtue of the power provided by the Accountants Act, 1967.
The focus of MIA is to enhance the credibility of the accountancy profession through three approaches.
Firstly, MIA sets the benchmark for the qualification to be recognised. It is also involved in providing continuing professional education to ensure the members are updated on the new knowledge and skills required out of them.
Secondly, MIA sets professional standards to be complied with by its members in line with global expectations. This includes providing implementation guidance to members. The standards set by MIA are auditing standards and By-laws (On Prefessional Conducts and Ethics).
Finally, MIA enforces the standards through its surveillance and disciplinary processes.
To assist better implementation of Financial Reporting Standards in Malaysia, MIA establishes the Financial Reporting Standards Implementation Committee which provides guidance on implementation issues.
At the international level MIA is a member of the International Federation of Accountants
, Confederation of Asian and Pacific Accountants
and Asean Federation of Accountants
.
MIA won the right to organise the 18th World Congress of Accountants
in 2010, which was held at the Kuala Lumpur Convention Centre, Kuala Lumpur
.
The focus of MIA is to enhance the credibility of the accountancy profession through three approaches.
Firstly, MIA sets the benchmark for the qualification to be recognised. It is also involved in providing continuing professional education to ensure the members are updated on the new knowledge and skills required out of them.
Secondly, MIA sets professional standards to be complied with by its members in line with global expectations. This includes providing implementation guidance to members. The standards set by MIA are auditing standards and By-laws (On Prefessional Conducts and Ethics).
Finally, MIA enforces the standards through its surveillance and disciplinary processes.
To assist better implementation of Financial Reporting Standards in Malaysia, MIA establishes the Financial Reporting Standards Implementation Committee which provides guidance on implementation issues.
At the international level MIA is a member of the International Federation of Accountants
International Federation of Accountants
International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...
, Confederation of Asian and Pacific Accountants
Confederation of Asian and Pacific Accountants
The Confederation of Asian and Pacific Accountants represents national professional accounting organisations in the Asia-Pacific region....
and Asean Federation of Accountants
Asean Federation of Accountants
The Asean Federation of Accountants is the body that represents the accountancy profession in the Asean region. AFA was established in 1977 and is led by a Council consisting the representatives of the national accounting bodies of the 10 member countries in Asean.The members of AFA are:**,...
.
MIA won the right to organise the 18th World Congress of Accountants
World Congress of Accountants
World Congress of Accountants is held every four years. It has sponsored and organised by various national accounting organisations, and today is organized by the International Federation of Accountants , the worldwide organization for the accountancy profession...
in 2010, which was held at the Kuala Lumpur Convention Centre, Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
.
Presidents of MIA
The President is elected among the members of MIA Council. Among those who served as President are:- Datuk Abdul Samad Hj. AliasDatuk Abdul Samad Hj. AliasDatuk Abdul Samad Hj. Alias is one of the key figures that had contributed to the development of the accountancy profession in Malaysia. He recently completed his term as the Vice-President of the Malaysian Institute of Accountants and served as the 4th President in 2000 until 2005...
- Abdul Rahim Abdul Hamid
See also
- Accountancy in Malaysia
- Malaysian Institute of Certified Public Accountants
- Malaysian Accountancy Research and Education Foundation
- Malaysian Institute of Taxation