SSM Longgarkan Syarat Pembatalan Syarikat
June 12, 2025
Reinforcing Ethics: Malaysia’s Effort to Restore Trust in the Accounting Profession
In the quiet halls of the Malaysian Institute of Accountants (MIA), a pivotal decision was made that could reshape the very foundation of the accounting profession in the country. This wasn’t a reaction to a single scandal but a culmination of growing concerns over ethical lapses within the industry.
A Wake-Up Call for the Profession
Over the past decade, Malaysia has witnessed a series of corporate collapses and financial mismanagement cases. Behind the headlines, a recurring theme emerged: ethical lapses by professionals entrusted with safeguarding financial integrity. It wasn’t always about blatant fraud; sometimes, it was the silence—professionals turning a blind eye, prioritizing client satisfaction or personal convenience over professional duty.
An internal audit by MIA in 2024 revealed a startling statistic: less than 30% of its members had received structured ethics training in the past three years. For a profession built on trust and integrity, this was a red flag.
The Genesis of a New Policy
“We realized that technical skills are not enough,” said a senior MIA board member, who requested anonymity. “What’s the use of knowing IFRS and audit standards if you can’t apply them ethically under pressure?”
In response, MIA launched an initiative in early 2025 to reform its Continuing Professional Education (CPE) framework, placing ethics at its core. Effective January 1, 2026, all 37,000+ members of the institute will be required to complete at least 2 hours of structured ethics training every year, within the broader requirement of 20 structured CPE hours annually. Over a rolling three-year period, accountants must accumulate 120 CPE credit hours, with at least 60 being structured and verifiable. Ethics is no longer optional; it’s a standard.
Understanding the New Requirements
The revised CPE requirements are detailed in MIA's official publication, Accountants Today. The key points include:
- Annual CPE Requirement: Minimum of 20 structured and verifiable CPE credit hours, including at least 2 hours dedicated to professional ethics.
- Three-Year Rolling Period: At least 120 CPE credit hours, with a minimum of 60 being structured and verifiable.
- Applicability: All MIA members, regardless of employment status.
- Compliance: Annual declaration by December 31; subject to audits.
- Consequences: Non-compliance may lead to disciplinary actions, including suspension or revocation of membership.
These measures aim to uphold transparency, regulatory compliance, and public trust in the accounting profession.
Why Ethics? Why Now?
The change isn’t merely administrative—it’s cultural. “We’ve become too comfortable,” admitted a long-time practitioner based in Selangor. “The pressure to close books fast, please clients, meet tax deadlines—it’s real. Ethics becomes something we assume, not something we practice consciously.”
Globally, professional bodies like the International Federation of Accountants (IFAC) have emphasized the role of ethical training in restoring public confidence in financial professionals. Malaysia is aligning with these standards, not just due to international pressure, but because of a homegrown need to rebuild trust.
A Multi-Layered Strategy
To ensure the policy isn’t just a checkbox, MIA is rolling out structured online courses through its e-learning portal, while also accrediting external training providers. Topics include:
- Ethical decision-making in high-pressure environments
- Conflict of interest and client confidentiality
- Ethics in audit and tax practices
- Real-world case studies involving Malaysian companies
The courses are designed not as moral preaching, but as practical survival tools. “It’s about giving accountants the courage to speak up when it matters,” said one of the developers behind the ethics modules.
A Multi-Layered Strategy
MIA is serious about compliance. Members must declare their CPE activities by December 31 each year, and random compliance audits will be conducted. Failure to comply—especially with the ethics requirement—can lead to disciplinary action, including suspension or revocation of membership.
However, the institute is also offering support. For members who are retired, unemployed, or face accessibility issues, flexible learning options are available. The goal is inclusivity, not punishment.
A New Era for Malaysian Accountants
This shift is more than policy—it’s a public commitment. In a time when trust in financial institutions is fragile, MIA’s new CPE framework signals that Malaysia’s accounting profession is ready to take accountability seriously, starting from within.
Whether you’re a junior associate in a boutique firm or a CFO of a public company, the message is clear: being an accountant in Malaysia today means being ethically equipped—not just technically qualified.
Because in the end, numbers matter. But so does the integrity behind them.
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Shukri Yusof & Co. (Synco) is a member firm of the Malaysian Institute of Accountants, also known as the Malaysian Institute of Chartered Accountants. Our commitment is to deliver results that exceed expectations with utmost effectiveness and efficiency.
