Nurmazilah Binti Dato Mahzan (Born 28 September 1970) is the former Chief Executive Officer of the Malaysian Institute of Accountants (MIA). The Malaysian Institute of Accountants is the regulatory body for the accountancy profession in Malaysia established under the Accountants Act 1967. Prior to her appointment, she served as its Deputy Chief Executive Officer and a Council Member. She is also a Member of the Malaysian Accounting Standards Board, a member of the Board of Governors for the Institute of Internal Auditors Malaysia, a Council Member of the Malaysian Institute of Certified Public Accountants and Honorary Treasurer of the Malaysian Economic Association. [1]
Nurmazilah graduated with a bachelor's degree in accountancy from the International Islamic University of Malaysia. She began her career as an audit assistant with Arthur Andersen and proceeded to completing her Certified Public Accountant Certificate with the Malaysian Association of Certified Professional Accountants. She then moved to work in corporate accounting in a Malaysian Public Listed Company and was involved in its listing. She then furthered her education with a Master's of Business Administration and Certified Internal Auditor Examination, she then proceeded to completing her Doctorate at the University of Birmingham in the field of Internal Auditing. She returned to Malaysia to serve as the Deputy Dean of the Faculty of Business and Accountancy and later as the Director of Graduate Business School at the University of Malaya for 16 years before moving to MIA. Nurmazilah holds the title of a Certified Internal Auditor (CIA), a CGMA Fellow and Certified Risk Management and Assurance qualification. [2]
Since her appointment, Nurmazilah has advocated for the digital transformation of the accounting professional specifically in the adoption of technology, integrated reporting, branding and operational excellence. Her work with the Malaysian Institute of Accountants in digital transformation includes eConfirm.my, an industry-wide electronic bank confirmation platform; an e-library; assistance in connecting accountants to government funding schemes such as the Smart Automation Grant (SAG) under the Ministry of International Trade and Industry for manufacturing companies as well as Malaysia Digital Economy Corporation’s SAG for non-manufacturing companies including professional services. [3]
In her capacity as the CEO, Nurmazilah also advocates for digital transformation in the field of academia. Her research also includes corporate governance and internal auditing in the accountancy field. Notable work in academia include : "Adoption of Computer Assisted Audit Tools and Techniques (CAATs) By Internal Auditors", [4] "Disclosure Quality On Governance Issues In Annual Reports of Malaysian PLCs", [1] " The Responses of Malaysia Public Listed Companies In Response to the IFRS Convergence" [2] and "Internal Audit of Quality in 5s Environment: Perception on Critical Factors, Effectiveness and Impact on Organizational Performance." [5]
Nurmazilah was awarded the National Heroine Leadership Award in 2018. The ceremony was held in Kuala Lumpur, and was officiated by Sultan Nazrin Shah the Sultan of Perak and attended by Tun Siti Hasmah and Datuk Seri Wan Azizah. Other awardees include Tan Sri Jemilah Mahmood, Datuk Muhaya Mohamad, Hamidah Naziadin, Datuk Zahrah Abdul Wahab Fenner, Datuk Farshila Emran, Norzilah Mohammed, Tan Sri Robaayah Zambahari and Datuk Mazlan Othman.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.
An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
The American Institute of Certified Public Accountants (AICPA) is the national professional organization of Certified Public Accountants (CPAs) in the United States, with more than 428,000 members in 130 countries. Founded in 1887 as the American Association of Public Accountants (AAPA), the organization sets ethical standards and U.S. auditing standards. It also develops and grades the Uniform CPA Examination. The AICPA maintains offices in New York City; Washington, DC; Durham, NC; and Ewing, NJ.
Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. It is generally equivalent to the title of chartered accountant in other English-speaking countries. In the United States, the CPA is a license to provide accounting services to the public. It is awarded by each of the 50 states for practice in that state. Additionally, all states except Hawaii have passed mobility laws to allow CPAs from other states to practice in their state. State licensing requirements vary, but the minimum standard requirements include passing the Uniform Certified Public Accountant Examination, 150 semester units of college education, and one year of accounting-related experience.
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, roll forward prior year working papers, and evaluate the propositions in their auditing report.
A financial audit is conducted to provide an opinion whether "financial statements" are stated in accordance with specified criteria. Normally, the criteria are international accounting standards, although auditors may conduct audits of financial statements prepared using the cash basis or some other basis of accounting appropriate for the organization. In providing an opinion whether financial statements are fairly stated in accordance with accounting standards, the auditor gathers evidence to determine whether the statements contain material errors or other misstatements.
Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognised by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world.
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 240,952 members and 541,930 future members worldwide. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development.
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The institute provides a wide range of support services to more than 48,000 members and associates who are chartered accountants (CAs(SA)), as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)).
Cynthia Cooper is an American accountant who formerly served as the Vice President of Internal Audit at WorldCom. In 2002, Cooper and her team of auditors worked together in secret and often at night to investigate and unearth $3.8 billion in fraud at WorldCom which, at that time, was the largest corporate fraud in U.S. history.
Institute of Chartered Accountants of India (ICAI) is India's largest professional accounting body under the administrative control of Ministry of Corporate Affairs, Government of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India.
The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes. The FRC seeks to promote transparency and integrity in business by aiming its work at investors and others who rely on company reports, audits and high-quality risk management.
Malaysian Institute of Accountants (MIA) is the umbrella body for the accountancy profession in Malaysia. It was established under the Accountants Act, 1967 to regulate and develop the accountancy profession in this country. MIA operates under the purview of the Ministry of Finance through the Accountant General's Department.
The Institute of Chartered Accountants of Pakistan is a professional accountancy body in Pakistan. It has over 10,000 members working locally and globally. The institute was established on July 1, 1961 to regulate the profession of accountancy in Pakistan. It is a statutory autonomous body established under the Chartered Accountants Ordinance, 1961. With the significant growth in the profession, the CA Ordinance and By-Laws were revised in 1983.
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance. The auditing industry for limited companies is regulated under the Companies Ordinance, and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
The Association of International Accountants (AIA) is a professional accountancy body. It was founded in the UK in 1928 and since that date has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide.
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 4 February 2016, MIA has 32,618 members of which 68% are involved in commerce and industry, 22% in public practice and 10% in government and academia. Selangor and the Wilayah Persekutuan Kuala Lumpur Federal Territory have the largest concentration of MIA membership with 13,125 and 7,351 members respectively. https://web.archive.org/web/20150725035639/http://www.mia.org.my/new/members_statistics_state.asp
Tan Sri Dato' Sri (Dr.) Mohamad Norza Zakaria is a Malaysian chartered accountant and a fellow of CPA Australia. He is currently the President of Olympic Council of Malaysia (OCM) and also holds the post of President of Commonwealth Games Association of Malaysia.
Hanafiah bin Hussain is a Malaysian politician and accountant.
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