Accounting In Malaysia
The accountancy profession in Malaysia is regulated by the Malaysian Institute of Accountants (MIA) through the powers conferred by the Accountants Act, 1967. The MIA is an agency under the Ministry of Finance and reports directly to the Accountant General Office. As at 30 June 2008, MIA has 24,719 members of which 65% are involved in commerce and industry, 27% in public practice and 7% in government and other sectors. Selangor and the Kuala Lumpur Federal Territory have the largest concentration of MIA membership with 9,697 and 6,118 members respectively.
MIA sets the By-Laws (On Professional conduct & Ethics) and auditing standards for the accountancy profession in Malaysia, which are in line with the standards issued by the International Federation of Accountants (IFAC) and the International Auditing and Assurance Standards Board (IAASB).
Read more about Accounting In Malaysia: Other Accountancy Bodies in Malaysia, Accountancy Education, Accounting Standards, Accounting Firms in Malaysia, See Also
Famous quotes containing the word accounting:
“At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
—Karl Liebknecht (1871–1919)