Collaborative Project with ASNAF

Today ARI and the faculty of Accountancy UiTM received three guests who are Malaysian members from ASNAF: Dato' Mohamad Aidid, Tn Hj Atarek Kamil and Mr Shamsul Khairi. ASNAF is the Federation of ASEAN Accounting Firms, an alliance of accounting firms in various countries across the ASEAN region and throughout Asia including Australia and New Zealand. The five founding members of ASNAF are representatives from Brunei, Indonesia, Malaysia, Philippines and Singapore (Thailand joined as the sixth member followed by Vietnam). We basically discussed on possible collaboration that our university can offer with the ASNAF's Malaysian Chapter. In view of the new and dynamic economic and business environment, accounting firms must invest in human capital. In today's business environment, accounting firms must think global and identify their niche. Some of the new competencies that accountants need to develop include forensic accounting, financial criminology, Islamic accounting, Islamic Finance and Shariah audit....

Forensic Accounting Methodology

Today the Master in Forensic Accounting & Financial Criminology students made their in-class oral presentations on topics related to data analysis tools to detect fraudulant financial transactions. Among the tools discussed include the use of the following: Beneish Model, Benford Law, Direct/Indirect Method, Z-Scores, Networth Analysis, Data Mining, Social Network Analysis, Control Account Analysis, the use of Fraud Risk Indicators and Financial Statement Analysis. Basically, in their presentation, the students had to apply their chosen tool or techniques to a specific financial fraud case and use their analysis to detect and investigate financial statement fraud. Congratulations all for jobs well done...Actually there's a lot of available tools out there. Some are basic tools which involve thorough understanding of the accounting principles whilst others are in the form of sophisticated software. Forensic accountants and financial fraud investigators must equipped themselves with new knowledge and competencies. An effective financial fraud investigator must possess at the very least, the following skills and competencies: knowledge in law, auditing, accounting, Information technology, psychology, analytical skill, statistical knowledge and people skill.

Higher Research Weightage

One of the most exciting things being mentioned by the Deputy Vice Chancellor during his deliberation at the Academic Conference today was the review of teaching hours being assigned to researchers at centres of excellence. Effective immediately, research hours for research fellows will now account for 80% and the remaining 20% is teaching or supervision hours. This is certainly great news for researchers at ARI. We can now plan for bigger things and produce more results....

Welcome Prof Susumo Ueno

ARI wishes to welcome Prof Susumo Ueno, our visiting professor from Konan University, Japan who is on a one week visit to UiTM. Professor Ueno is a well-known professor in management accounting. He is also the President of the Asia-Pacific Management Accounting Association (APMAA) which is based in Japan. Whilst visiting the university, Prof Ueno has a relatively tight schedule. Various events such as research discussion on a recent international research collaboration involving seven Asian universities; discussions with CIMA; visit to the site of APMAA's forthcoming conference in Kuala Lumpur; PhD students progress presentation; research consultation for post-graduate students & researchers and professorial talk on Japanese management accounting.
As the Chief Editor of the Asia-Pacific Management Accounting Journal (APMAJ) which is hosted by UiTM, Professor Ueno held several meetings with managing editors and journal administrators of the journal...

COEs As Responsibility Centres

The university has recently announced the establishment of six centres of excellence as Responsibility Centres. The six CoEs are namely the Accounting Research Institute (National HICoE), Malaysian Institute of Transport (MITRANS), Institute of Science (IOS), Research Institute of Natural Remedies (IKUS), IIESM and the Institute of Forensic Sciences. With the announcement, the university will facilitate the CoEs by providing them with tier-based budget and support staff. The CoE's fellowship program will also be further improved.

HICoE Bigger Role

In his New Year Speech delivered recently, the YB Minister of Higher Education Dato' Seri Mohamed Khaled Nordin noted some very pertinent messages related to the roles and functions of the HICoEs within the Government Transformation Program. HICoEs are expected to form international research consortiums with renowned research centres to conduct research projects within their niche research areas. They must be international players that can place Malaysia on the world map. In tandem with this aspiration, HICoEs are expected to produce "Roadmap" that would allow them to be autonomous by the end of 2013. Though this is a tall order, I personally believe that it can be achieved, HICoEs just need to remain focused. For ARI, our niche research areas are namely Islamic Accounting & Finance and Financial Criminology. For 2011, each research project will involve a collaboration with at least one international partner....

Islamic Micro Financing

Perhaps Islamic banks in Malaysia should consider developing new product in the form of Islamic Micro Financing - Linking prospective young, aspiring but disadvantaged enterpreneurs with established wholesalers. Existing concepts and model used by the Gramin Bank in Bangladesh could be further innovated to elevate the economic status of these potential enterpreneurs. Interested researchers should develop and innovate a possible working framework for this product...