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Malaysia

Head of State  : His Majesty Seri Paduka Baginda Yang di-Pertuan Agong XV Sultan Muhammad V

Head of Government    : The Honourable Tun Dr. Mahathir Mohamad, Prime Minister

Capital             : Kuala Lumpur

Language(s)    : Malay, English, Chinese, Tamil

Currency         : Ringgit

Profile of the Country

Information of The Country

Ranked as one of the most progressive and diversified economies in ASEAN, Malaysia is poised to become a high-income economy in the near future, providing it can implement structural reforms to scale up global and regional value chains and escape the middle-income trap.

In line with developed economy models, Malaysia emphasises the growth of strategic services whilst strengthening manufacturing and defending its position as a leading global exporter and one of the world’s most open trading nations.

One of these strategic services that has been earmarked as a key economic and social driver is accounting services. The accounting profession continues to play an invaluable role in nation building by supporting the continuing development of the Malaysian economy, from facilitating business, trade, taxation and investment, to promoting ethical practices and adherence to international standards.

As the regulator and developer of the accounting profession in Malaysia, the Malaysian Institute of Accountants (MIA) spearheads the ongoing transformation of the accounting profession to support nation building and sustainable economic growth. Established under the Accountants Act 1967, the MIA is a statutory body that regulates, develops, supports and enhances the integrity, status and interests of the profession in Malaysia. MIA accords the Chartered Accountant Malaysia or C.A. (M) designation to a professional in accountancy, business and finance with a recognised qualification and relevant work experience.

Working closely alongside businesses, MIA connects its approximately 35,500  members to an unmatched range of information, resources, events, professional development and networking opportunities across diverse industries in Malaysia and around the world. Currently, its members operate in four key segments – public practice, professional accountants in business (PAIBs), public sector, and academia.

MIA’s international outlook and connections are reflected in its membership of and strategic collaborations with regional and international professional organisations such as the ASEAN Federation of Accountants (AFA), and the International Federation of Accountants (IFAC).

 To remain relevant and future-proof its members, MIA pays close attention to future developments impacting business, specifically the digital revolution and its impacts on the profession via automation, blockchain, cloud and cybersecurity, and data analytics. To advocate technology adoption, MIA issued its Digital Technology Blueprint in 2018 to guide members on their proactive digital strategy over the next 5 years, which in turn will support the country’s advocacy of the shift to Industrial 4.0 and the migration to cyberphysical systems.

Professional Associations
Qualifying as an Accountants
Working as an Accountant in Malaysia
Law and Regulations on Accountancy Practice
Monitoring Committee
Mof Malaysia
MIA
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