PRESS RELEASES
Thursday, 17 January 2008
The MoU Signing Ceremony between SIDC and ACCA
ACCA and SIDC sign MoU on collaboration to enhance skills of business professionals
ACCA (the Association of Chartered Certified Accountants) and SIDC (the Securities Industry Development Corporation) are signing the Memorandum of Understanding to work together in the important area of further raising the technical skills and ethical conduct of business professionals.
The MoU is set for collaborations between the two institutions to develop programmes and initiatives to enhance skills and knowledge of business professionals not just in Malaysia but within the region. Both institutions of reputation have joined forces to work on strengthening on driving thought leadership and enhancement of knowledge development in the market.
ACCA is the world’s largest and fastest-growing professional international accountancy body with 296,000 students and 115,000 members based in 170 countries. While SIDC, incorporated in March 2007, is the leading capital market education, training and information resource provider in ASEAN.
The MoU was signed by Mr John Zinkin, CEO of SIDC on behalf of SIDC and Mr Tay Kay Luan, ACCA Director, ASEAN & Australasia on behalf of ACCA. The MoU took place at the Securities Commission attended by Dato’ Zarinah Anwar, Chairman of the Securities Commission and Mr Allen Blewitt, ACCA Chief Executive.
SIDC CEO, Mr John Zinkin, said, “Working closely with ACCA is a natural choice for SIDC as the ACCA’s mission, vision and values and aspiration dovetail neatly with ours both in Malaysia and the ASEAN region. SIDC and ACCA believe strongly in the importance of good governance and ethical business, and both organisations are committed to enhancing the quality of decision-making at board and senior management level.”
ACCA Chief Executive, Mr Allen Blewitt, said, “A key component of ACCA’s mission is to achieve and promote the highest professional, ethical and governance standards and advance the public interest across the world. Working with valued partners to help enhance the operations of global financial markets is an increasingly important aspect of this remit. This latest agreement with the SIDC is an important addition to the wide-ranging work ACCA seeks to undertake in helping raise governance standards and protect the public interest.” ACCA and SIDC also announced a collaboration to develop a pogramme specifically for directors of listed companies. Under the MoU, ACCA agrees to SIDC adopting the syllabus of ACCA’s Diploma in Financial Management (DipFM) as training modules for company directors.
The programme is designed to give directors without existing finance training or expertise insight into a broad range of topics – from interpreting financial statements, to performance measurement and risk management – all of which will enable them not only to better understand financial information, but also, crucially, link that information to the broader strategic decisions they are charged with making.
With a syllabus based on ACCA’s very successful Diploma in Financial Management, the programme will provide directors with the financial acumen and confidence to lead their businesses as effectively as possible. On completion of the programme, participants will be issued with a certificate issued jointly by the SIDC and ACCA and will also have the option of proceeding to ACCA’s Diploma in Financial Management qualification.
“Today, our company directors must wear a number of technically and intellectually demanding hats – and wear them with confidence. And one of the most critical skills directors require is a strategic understanding of finance and accounting.
“We would strongly encourage all directors from disciplines outside accounting and finance to undertake this type of learning, for their own personal development, but also for the greater good of their companies, their shareholders and the economy at large,” said Mr Blewitt in his speech.
Apart from the programme, the MoU is also set to benefit both institutions in the areas of collaboration for Continuing Professional Development (CPDs), regional conferences and summits, and joint promotion of finance and investor education.