Opportunities in Malaysia
CPA Australia's reputation for its contribution to the accounting profession and the development of accounting education in Malaysia is widely recognised. Currently there are over 7700 members in Malaysia.
Member services
There are a range of products and services tailored to meet the needs of finance, acocoutnign and business professionals, in Malaysia including:
- membership services – admission, advancement to CPA status and beyond, including assistance with CPA Program and Mentor Program)
- technical committees and discussion groups
- affinity credit card with Alliance Bank Berhad
- CPA Program workshops
- CPD seminars and conferences
- social events – Young Professsional Network activities
- free career consultation sessions
- quarterly journal – Berita CPA
- library facilities
- conferences and networking events
Pathways to membership of your local body
Under the requirements of Section 22 and 23 of the Accountants Act 1967, you cannot practice an accountant in Malaysia unless:
- you have spent the majority of your residence within Malaysia
- you are registered as a member of the Malaysian Institute of Accountants
This includes holding company positions such as finance manager, accounts manager, financial controller, general manager or any other similar descriptions.
Members of CPA Australia who hold CPA status are eligible to become full members of the Malaysian Institute of Accountants (MIA).
If you wish to establish your own public practice, you will be required to obtain a valid practising certificate from the MIA. Only MIA members registered as chartered accountants with valid practising certificates can describe and hold themselves out as chartered accountants in public practice and may carry out services such as accounting, audit, liquidation, tax and other related services. However, the practice of audit, liquidation and tax would require an additional license issue of the Ministry of Finance.
Accountants working in industry, commerce, government, academia are not required to obtain a practising certification.
For more information visit the Malaysian Institute of Accountants website.
Malaysia's business environment
There are 23,000 chartered accounting in Malaysia, of which 19 per cent are CPAs.
Despite the less favourable external environment which has had a moderating effect on Malaysia's export growth, strong domestic demand has sustained the growth of the Malaysian economy. There is a total labour force of 10. 4 million people and the current unemployment rate is at 3.8 per cent.
Employment opportunities
Throughout the year, career and recruitment fairs are often held. To demonstrate you are a forward thinker it's always advised to bring copies of your resume, and supporting documents, to these events.
There is a need for CPAs in a wide range of fields, including: commerce and industry, public sector, public practice, banking, finance and capital markets, insurance, financial services consultancy, education and information technology.
Having food grades is not everything. Being a leader, good aptitude, making the right decisions, good networking and having people skills will give you the edge to be employed.
Employment trend and graduate programs
Many companies in Malaysia offer accounting related jobs for recent graduates throughout the year. The major recruitment period for Australian graduation will be in January and February.
Employers generally assess graduates through a number of criteria including assessment exercises and manger interviews.
Join CPA Australia as an Associate member before you return home. This will impress employers and be an extra credential on your resume.
Skills and specialities in demand
Skills currently in demand include: forensic accounting, Islamic monetary affairs and Islamic accounting standards banking, professional practice, industry and commerce, banking and finance services and business process outsourcing.
The workplace is vastly difference from what if was ten years ago. Today, computer skills, multiple languages, and a well rounded skill set is more important than a graduate with excellent grades.
Work permits
An employment visa is required for foreigners working in Malaysia. For more information visit the Immigration Department of Malaysia website.
Working conditions and lifestyle
Malaysia is moving towards a five day working week culture. Banks and government offices have led the way by implementing this. Office hours operate from 9.00 am to 5.30 pm. A healthy work / life balance is encouraged.
The Employees Provident Fund is a savings scheme for your retirement. The current employee contribution rate is 11 per cent and 12 per cent by the employer.
More information
- visit the Malaysian Institute of Accountants website
- visit the Immigration Department of Malaysia website
- view Malaysia contact details on the CPA Australia's website
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