Visit from the National Accounting Council of Cambodia, the Stock Exhange Commission of Cambodia and the Kampuchea Institute of Certified Public Accountants and Auditors to the Malaysian Institute of Accountants

On 22 January 2009, the Malaysian Institute of Accountants (MIA) hosted a delegation from Cambodia at the MIA headquarters in Kuala Lumpur. Aside from the National Accounting Council (NAC), the group also consisted of officials from the Stock Exchange Commission of Cambodia (SECC), the Kampuchea Institute of CPA and Auditors (KICPAA) as well as ACCA Cambodia. The visitors from Cambodia were accompanied by Ms Zaiti Waddell from ACCA Malaysia.

The purpose of their study visit was to understand the role of MIA in regulating auditors, the audit licensing process and sanctions of non-compliance of regulations and also MIA’s role and contribution to the development of financial reporting framework in Malaysia.

The delegation was received by MIA President, Mr Nik Mohd Hasyudeen Yusoff and CEO, Tuan Haji Rosli Abdullah as well as some of  the MIA management team, while the Cambodian delegation; which was headed by Dr Sam Ghanty, advisor to the NAC and Mr Soth Vanthoch, CEO of KICPAA; consisted of eight members.

The meeting began with a short welcome address from Mr Nik Hasyudeen, followed by some words from Dr Sam Ghanty,. Dr Ghanty also took the opportunity to introduce the members of his group. Ms Ho Foong Moi then followed that up with a presentation entitled “A Brief Overview: The Malaysian Institute of Accountants”.

After the presentation, there was a dialogue session during which the guests took the opportunity to pose any questions they had about MIA. Dr Ghanty also briefed those present on the state of accountancy affairs in Cambodia and the strides made since 2002. In their effort to produce more quality accountants, the Cambodian visitors were especially interested in knowing MIA’s working relationship with the local universities and how the syllabus keeps up with the ever-changing accountancy standards. There was also a lengthy discussion on audit affairs in Malaysia.

The meeting ended with both sides having learnt much from the other. There was much goodwill generated from this meeting and there is much optimism that there will be plenty of cooperation between the two countries in the future, which bodes well for the accountancy sector in ASEAN.

 
Group photo of the Cambodian delegation and their hosts