Students from twenty-two universities in Malaysia attended the two-day ASC themed Accountants at the Edge of Technology, Riding the Digital Wave, Leading Transformations, with host Young Accountants Club (YAC) of Management and Science University (MSU)
Management and Science University (MSU) is the 2018 host of the Accounting Students Conference (ASC) organized by the Malaysian Institute of Accountants (MIA).
Jointly launching ASC 2018 were MSU President Professor Tan Sri Dato’ Wira Dr Mohd Shukri Ab Yajid and MIA Chief Executive Officer Dr Nurmazilah Dato’ Mahzan.
Professor Tan Sri Dr Shukri delivered the welcoming address.
"Accounting software is estimated to reach more than 11 billion USD in sales in 2016. Technology is thus something that must be embraced by the profession."
But with the digital tools of accountancy optimizing processes, streamlining formerly manual, labour-intensive back-office work such as payroll and tax, how is human competitiveness insured when the technology takes over?
"Technology may be useful in automating repetitive function, letting humans be more efficient, but what is more valuable is the meaning behind the data and the capacity for interpretive analytics. Be ahead of the technology, not at the tail end, but do not compete with the robots or the automation. Compete to be the best human giving meaning and direction to the algorithm."
Professor Tan Sri Dr Shukri went on to expound the irreplaceable value of a human accountant.
"We send our students out to help the urban poor, the Orang Asli, the orphans, old folks, even the Earth; to be in touch with community and the environment. It is the human factor that will make you shine. Transforming your life to be a better person will enrich the future of society, and professionalism with integrity will contribute to your success."
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The MSU President concluded with thanking MIA for selecting MSUrians to be among the recipients of the MIA Best Accounting Student Award in 2016, 2017, and 2018.
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ASC 2018 keynote address was delivered by Malaysian Institute of Accountants CEO Dr Nurmazilah Dato' Mahzan.
"Accountanst are not just stewards of financial information but also managers of value, financial leaders influencing strategic direction and growth of organizations. Accountants today are truly walking on the knife edge of technology, no longer just preparing double entries and historical financial reports but also interpreting financial and business data.
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"Tools such as cloud and data analytics enable you to deliver higher skilled, high value work. You are not required to be a data scientist but you have to be technologically aware and be agile in adapting to technological as well as regulatory changes, and to continually upgrade your skills to improve performance and deliver even more value.
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"As millenials and digital natives, you are the best equipped to harness the relevant technologies and become excellent future accountants as well as future citizens contributing to society. Our nation requires 60,000 accountants by 2030. Open your eyes to the exciting vista of accountancy, and push the boundaries of work and life this era of IR 4.0."
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ASC 2018 activities included two forums, a breakout session, and Coffee Talk.
MIA Forum The Way Forward in Corporate Governance was moderated by Dr Nurmazilah and jointly facilitated by Malaysia Institute of Corporate Governance (MICG) President Dato' Yusli Mohamed Yusoff, Prolintas Group CEO Dato' Mohammad Azlan Abdullah, and Universiti Malaya Accountancy Department Head Dr Zarina Zakaria.
Among the speakers delivering the ASC 2018 Industrial Forum on Digital Accounting were ACCA Malaysia Head of Policy and Technical as well as former CEO of Inland Revenue Board Malaysia Tan Sri Dr Mohd Shukor Mahfar.
Hosted by MSU's own Young Accountants Club (YAC) with the advising team from the Malaysian Institute of Accountants, ASC 2018 was organized by MIA with strategic partner ICAEW, tactical partner ACCA, and supporting partner CPA Australia.
MSU's MIA Accounting Best Student 2017 Tengku Sarah Tengku Zulkifli was the ASC 2018 Committee Vice-Director, MSU Eye Centre the Platinum Sponsor, and MSU industry partner Top Glove the Gold Sponsor.
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