Skilled AND Talented Accountancy Professionals Need to be at the Heart of ASEAN Economic Development
Recently a conference of the MIA (Malaysian Institute of Accountants) was held in Kuala Lumpur which included a session of Association of Chartered Certified Accountants (ACCA). In the session a group of professionals concluded that the formation of the AEC (ASEAN Economic Community) 2015 is a very ambitious assignment and requires a large number of skillful experts that can work overseas.
ACCA’s executive director of markets, Steve Heathcote, hosted the session. The panel that attended the session comprised of: Mdm Estelita Aguirre (President of ASEAN Federation of Accountants), Mr Yee Cheok Hon (Executive Director of Institute of International Trade and Industry), Mr Soo Hoo Khoon Yean (Partner of Financial Services and Risk Assurance Services PwC Malaysia) and Mr Ravindran Palaniappan (Senior Director ASEAN Economic Co-operation Ministry of Trade and Industry, Malaysia)
In response to a question that what accountants must do to make sure that they are prepared for AEC, Soo Hoo Khoon replied that they must improve their expertise and alter their mentality towards AEC.
Steve Heathcote mentioned that 10 member countries of AEC have a combined Gross Domestic Product (GDP) of $2.4 trillion and a total population of around 626,000,000. Boston Consulting Group believes that the GDP of the region will be doubled by the year 2020. This plan requires skills building. ACCA with its associated around the globe work to make sure that accounting expertise remains available.
Steve expressed the importance of working together and forming alliances and stated that ACCA has a solid working rapport and recently signed many agreements with the local accountancy bodies all over this region. Also ACCA always takes parts in the discussions and meetings of ASEAN Foundation of Accountants (AFA) about the development of finance professionals in the region.
ACCA and ASEAN Partnership
ACCA has formed alliances with more than 10 ASEAN countries. Some latest partnerships include alliances with MIA, BICPA, FAP and much more.