The Report on the Strengthening of the Accountancy Profession in Malaysia (Report) which was prepared by the Committee to Strengthen the Accountancy Profession (CSAP) was presented to the Minister of Finance (MOF) in August 2015. The MOF has accepted the Report and its 15 Recommendations in 2016 and mandated the Securities Commission (SC) to set up an Implementation Committee to look into the implementation of the Recommendations and to oversee the implementation process.

The SC has established the CSAP Implementation Committee (IC) and appointed the members of the CSAP IC which comprise representatives from the Malaysian Institute of Accountants (MIA), SC, Bank Negara Malaysia (BNM), Companies Commission of Malaysia (SSM), Accountant General’s Department (AGD), the Ministry of Higher Education (MOHE), and The Malaysian Institute of Certified Public Accountants (MICPA). MIA, SC, BNM, SSM and AGD were represented in the original CSAP. The additions are MOHE and MICPA. Since the 15 Recommendations relate directly to the accountancy profession, to champion the transformation that is needed to further strengthen the accountancy profession in nation building, the MIA President has been appointed to chair the CSAP IC. MIA has also been appointed to act as the CSAP IC Secretariat and provide the necessary secretarial and administrative support.

The Terms of Reference of the CSAP IC are as follows:-

  • To examine and approve an operational model for the implementation of the CSAP Report for submission to the Securities Commission.
  • To review the draft of the amended Accountants Act for submission to the Securities Commission

Membership of the CSAP Implementation Committee and the agencies/organisations represented by them are as follows:

AGENCY/ORGANISATION

REPRESENTATIVE

MALAYSIAN INSTITUTE OF ACCOUNTANTS

DATO’ MOHAMMAD FAIZ AZMI

SECURITIES COMMISSION MALAYSIA

EUGENE WONG WENG SOON

BANK NEGARA MALAYSIA

DONALD JOSHUA JAGANATHAN

COMPANIES COMMISSION OF MALAYSIA

NOR AZIMAH ABDUL AZIZ

ACCOUNTANT GENERAL’S DEPARTMENT

NIK HAPSAH NIK HASSAN

MINISTRY OF HIGHER EDUCATION

DATIN PADUKA IR. DR. SITI HAMISAH TAPSIR

THE MALAYSIAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

DATO’ ABDUL RAUF RASHID

The CSAP IC has commenced its work and deliberations on how the Recommendations can be implemented effectively and produce the desired outcomes for a stronger profession which can in turn better protect public interest and contribute to the economic well-being of the nation. As part of the process, further engagements are being held with relevant key stakeholders.

Feedback can be addressed to the Secretariat at CSAP@mia.org.my