THE STAR, TUESDAY 2 AUGUST 2016

special

COURSE FOCUS
BUSINESS, ACCOUNTING & FINANCE

Truth in numbers

THE STAR, TUESDAY 2 AUGUST 2016

2 course focus

Looking past the figures

By IAN JEROME LEONG
TO elevate the country into a
developed nation by 2020, the
Government launched the
Economic Transformation
Programme in 2010, identifying
12 key economic areas that will
contribute significantly to the
gross national income.
Among the 12 areas are financial
services and business services,
covering aspects from banking,
asset and wealth management to
development of financial
institutions.
The field of accounting in
particular is seen as a business
opportunity that will help expand
areas of specialisation into new,
untapped sectors in Malaysia.

Investigating hidden
values
In the span of two months,
Argentine striker and five-time
World Player of the Year Lionel
Messi experienced an emotional
roller coaster that overshadowed
all his years as a professional
footballer.
After winning the Spanish La
Liga and Copa del Rey with
Barcelona in May, Messi not only
missed an important penalty and
lost the final of the Copa America
Centenario with Argentina, but
was also handed a 21-month prison
sentence after being found guilty of

Forty-four
per cent of the
organisations
surveyed
believe local law
enforcement is
not adequately
resourced to
investigate
economic
crime, leaving
organisations to
fend for themselves.
tax fraud.
While his footballing career
remains intact due to the
complexities of the Spanish legal
system, sections of the media and
the wider public are labelling him
a criminal. The three counts of tax
fraud against Messi and his father,
however, would not have taken
place without the involvement of
meticulous and organised forensic
accountants.

Thorough professional
analysts
With a combination of financial

Where to study?
ALTHOUGH there is no single
pathway to become a forensic
accountant, a relevant education
will groom individuals with the
necessary skills and knowledge
to carry out investigations and
make meaningful presentations
of the facts. In Malaysia, your
journey can begin at:
l Asia Pacific University of
Technology and Innovation
(APU)
Bachelor of Accountancy
(Hons) in Accounting and
Finance with a specialism in
Forensic Accounting
Master of Accounting in
Forensic Analysis

l Universiti Teknologi
MARA (UiTM)
Master in Forensic
Accounting and Financial
Criminology
It is important to note,
however, that many auditors
and even general accountants
made the transition into forensic
accounting
after years of
experience in
the field and
after training
courses with
professional
bodies.

expertise and investigative

prowess, forensic accountants
work discreetly to uncover cases
of fraud, embezzlement or
misappropriation of assets,
gather sufficient evidence, and
often work closely with law
enforcement and lawyers.
They work to analyse, interpret,
summarise and present complex
financial and business related
issues in an understandable and
properly supported manner.
In addition to analysing
multiple records such as bank
and credit statements, journals,
ledgers, databases and e-mails,
these highly trained professionals
also develop computerised
applications to aid their work
and assist in legal proceedings by
testifying in court and preparing
visual aids to support trial
evidence.

Rising need for experts

In PwCs Global Economic Crime
Survey 2016, the international
auditing firm revealed that out of
the 6,000 organisations that took
part in the survey, more than one
third of respondents reported
being victimised by economic
crime, both in developed and
emerging markets.
One in five banks experienced
enforcement actions by regulators
for failing to curb illicit business
practices.
While the number of economic
crime incidence fell for the first
time since 2008-2009, the report
conceded the detection and
control programmes in
organisations are not keeping
up with the pace of change.
More surprisingly, 44% of the
organisations surveyed believe
local law enforcement is not
adequately resourced to
investigate economic crime,
leaving organisations to fend
for themselves.
This possibility of illegal and
improper dealings going
undetected therefore reinforces
the need to have accounting
professionals who have the
necessary skills for use in
litigation and are capable of
implementing preventative fraud
measures within organisations.

Thinking out of the box

THE role of forensic accountants
is increasingly crucial as they
are involved in cases ranging
from embezzlement, tax fraud,
and money laundering to
monetary disputes.
Teo Wai Lun, First Class
Honours graduate of APUs BSc
(Hons) in Accounting & Finance
with a specialism in Forensic
Accounting, shares his
experience in the field of
forensic accounting and the
industry.
How did you discover the field
of forensic accounting?
I had a strong passion for
accounting in school and when
I got to know of
forensic experts
and what they do,
I started to look
into forensic
fields and found
the accounting
programme
specialising
in forensic
accounting
offered at APU.

What excites you most about

your job and what are the
challenges you face?
Upon graduation, I began
working in the fraud
investigation and dispute
services department of an
accounting firm.
What excites me most about
my job is that it requires me to
be critical, finding the variables
that lead to fraud and
wrongdoings.
I also learn about solving
disputes, forensic information
technology, and local and
international law and
regulations. The challenge in
any project is the
variations in job scope.
There is always new
knowledge to learn and
master before providing
clients with exceptional
service.
I also have to know
and understand each
clients industry and how
it differs in terms of
practices and processes.

Would you suit?

ARE you a person who is
curious, persistent, detailoriented, creative, organised
and confident with sound
professional judgment? If so,
forensic accountancy may just
be for you.
Like all accountants, a
forensic accountant must have
an accounting degree and pass
the professional qualifications
set by professional accounting
bodies. In addition, some
industry professionals believe
one should have considerable
external and internal auditing
experience before exploring
forensic accountancy.
While forensic accountants
constantly deal with numbers,
they need to possess additional
skills such as knowledge in a
variety of computer
programmes, knowledge of

relevant laws
and legal
systems,
have
interpersonal
skills and be
able to
communicate
well.
Some
forensic
accountants
take courses
in sociology,
psychology,
law
enforcement,
criminal and
business law,
and
information
systems to be
better in
their work.

THE STAR, TUESDAY 2 AUGUST 2016

AT UCSI Universitys Faculty of

Business and Information
Science (FoBIS), the correlation
between the accounting practice,
economic vitality and public
trust has long been
acknowledged.
Academicians and students
work hand-in-hand to address
challenges in the practice and
their efforts frequently pay off.
The recent success of Lee Pei
Ying, Toh Chin Yau and their
lecturer Shakerin Ismail is a
good example.
Seeking to identify the factors
within an organisation that
influence the quality of financial
data, the trio won the Best Paper
Award at the 10th Asia-Pacific
Business and Humanities
Conference 2016.
What began as a regular
classroom exercise evolved into
something far more significant
for the trio and their paper is
currently in review to be
published in a high-ranking
journal by World Business
Institute in Australia.
Taking it all in his stride,
Shakerin says that the award
is testament to the good work
being done at UCSI to promote
the best accounting practices.
By identifying the influencing
factors, organisations will
have concrete insights into
how they may make necessary
adjustments or changes in their
governance to generate more
reliable financial information.
This will subsequently enhance
their credibility, says Shakerin.
This research provided Lee
and Toh with an enriching
learning experience and a
chance to hone critical
competencies beyond textbook
knowledge.
Winning this award was the
best moment in my study life.
Research requires a lot of
discipline but during the process
I learnt a lot about technique,
teamwork and communication
skills, says Lee.
Lee graduated last month at
UCSIs 29th convocation but has
already secured employment as
an audit associate at KPMG.
This paper was a challenge
and we couldnt have completed
it without each others support.
Im really proud that our work
has been recognised and is
valued by the accounting
industry, says Toh, who has
opted to pursue his ACCA
qualification.
This collaboration is one
of the fruits of UCSIs
holistic approach to
education, which
emphasises a keen
industry focus.
UCSI is running
Malaysias most
extensive academicindustry network,
Lim passed a
stringent selection
process to be chosen
as one of 80 seminar
leaders for the
Harvard H-Lab
summer programme.
For a month, she
taught 15- to 18-yearold students in the
Japanese town of
Obuse.

course focus 3

The elements of success

having secured more than 3,500
internship partners to offer
advantageous industry exposure
to students.
Each study year, UCSI students
are sent for a two-month
internship with some of the best
names in the industry. These
include KPMG, Crowe Horwath,
PricewaterhouseCoopers, Ernst
& Young and most major banks
in Malaysia.
As a result, students are
intimately familiar with not only
working fundamentals but the
current challenges faced by
corporations.
Being technically strong isnt
the whole package anymore.
Todays professionals must also
possess competitive career skills
such as critical and analytical
thinking, leadership and
communication skills to perform
well in their workplace, says
Prof Dr Ooi Keng Boon, dean of
FoBIS.
It helps too that UCSI is home
to a thriving culture of
inquisitiveness and discovery.
Lim Czi Xian, who read her
degree in finance and
investment, is a
multidisciplinary powerhouse
whose list of self-initiated
achievements includes a
chemistry certificate from
Massachusetts Institute of
Technology (MIT) and a summer
spent teaching philosophy in
Japan under Harvards H-Lab
2015 programme.
My dream is to make
significant contributions to
society and I want to learn all
that I can so that I am well
prepared to do so. UCSI has been
great in connecting me with
opportunities and my lecturers
were really helpful, she says.
During her time at UCSI,
Lim interned at HSBC Bank,
participated in the Credit Suisse
HOLT Valuation and CIMB Asean
Stock Challenges, attended an
intensive Blue Ocean Strategy
programme, and was a
university delegate to Asean
regional summits for three
consecutive years.
UCSI is about providing
education that is balanced,
relevant and visionary and we
design our programmes and
student growth opportunities
around this goal, says Prof
Ooi.
Currently, its Department
of Accounting and Finance
offers BA (Hons)
Accounting, BA (Hons)
Accounting and Finance
and BSc (Hons) Finance
and Investment
programmes.
UCSIs Kuala
Lumpur campus
is open daily for
extended counselling
sessions, including
weekends and public
holidays.

n For more information

about UCSI Universitys
FoBIS, call 03-9101 8882 or
visit www.ucsiuniversity.
edu.my/onlineenquiry.

(From left) Toh,

Shakerin and Lee
wanted to
strengthen the
reliability of financial
reporting. Their
research
subsequently won
them the Best Paper
Award at the 10th
Asia-Pacific Business
and Humanities
Conference 2016.

THE STAR, TUESDAY 2 AUGUST 2016

4 course focus

Understanding
Muslim
consumers
Assoc Prof Dr
Muhd Yunus Ali
says there is a
rising need to
focus on the
Muslim
consumers.

MONASH University Malaysia takes a

multidisciplinary approach in Islamic
marketing research to delve deeper into
what constitutes halal and how it affects
consumer behaviour.
According to the State of the Global Islamic
Economy 2014 2015 Report, global Muslim
spending on food and beverage increased
10.8% year-on-year to US$1.29 trillion
(RM5.27 trillion) in 2013.
Closer to home, figures by the Malaysia
External Trade Development Corporation
showed the countrys total halal exports for
the first half of last year valued at RM19.5bil,
up 3.6% from the same period a year earlier.
With a fifth of the worlds total population
and more than half of Malaysias 30 million
citizens being Muslim, one cannot ignore the
Muslim market.
Those who marginalise Muslim
consumers will be the ultimate losers, as
even multinational corporations are
beginning to focus on the Muslim
consumer, says Assoc Prof Dr Muhd Yunus
Ali of Monash University Malaysia.

Globally recognised
As the director of graduate studies for four
years at the university, Assoc Prof Yunus
was tasked with developing the PhD and
graduate programme, and in 2011, he began
developing the Islamic marketing units for
advanced-level undergraduates of the
Bachelor of Business and Commerce
programme.
Islamic marketing research is still in its
infancy. Thats a challenge that is discussed
at major conferences on Islamic marketing.
The positive thing is that mainstream
marketing and business journals have
acknowledged the potential growth of
Islamic markets in spite of this, he says.
Assoc Prof Yunus research efforts in the
field of Islamic marketing have been
recognised internationally, most recently
through the Islamic Marketer of the Year
Award presented at the 7th Global Islamic
Marketing Conference in Casablanca,
Morocco, on May 5.
In November last year, three groups of
Islamic marketing students from the School
of Business were selected to present at the
Academy for Global Business Advancements
12th World Congress.
One of the research papers that Assoc Prof
Yunus co-wrote with his students, Muslim
Consumers Halal Consumption: The Role of
Emotional and Religiosity Factors in Buying
Attention, won the Best Paper Award of the
conference.

Multidisciplinary approach
Currently, were building an Islamic
business education programme at Monash
under the halal ecosystem platform. In the
long run, we plan to offer a major in Islamic
business in the School of Business and to

establish a halal centre of excellence at

Monash, says Assoc Prof Yunus.
So far, the halal ecosystem has developed
five units of Islamic business, including
Islamic marketing for business
undergraduates.
The plan is to develop a total of eight units
for the Islamic business major programme,
which will incorporate research from
Monashs other academic schools.
Halal, he says, involves entire
management systems, hence the need for
multidisciplinary research.
The School of Medicine is looking at
the effects of hormones in meat when
slaughtered the halal way versus the nonhalal way, while the pharmacy department
is looking at identifying ingredients in
pharmaceutical products to see whether
they are halal or not, he explains.
Assoc Prof Yunus has been working on a
research project on Muslim consumers halal
brand selection behaviour, which is funded
by the Education Ministry under the
Fundamental Research Grant Scheme.
He explains that for this project, the eye
movement of consumers were monitored
to understand how the halal logo and other
brand selection cues influence purchasing
behaviours.

Marketing challenges
One of the main challenges in Islamic
marketing is satisfying the needs of the
diverse Islamic market, which is not a
homogenous one.
A recent research showed that there are
conservative Muslims, New Age Muslims,
liberal Muslims and social pragmatist
Muslims. Their expectations are different,
he says.
Another problem faced by Islamic
marketers is the lack of a unified halal
standard that is accepted internationally, as
different countries abide by their respective
halal certification.
In Islam, there are different schools of
thought and religious scholars have different
opinions. Another project we plan to look
into is how to develop a halal score to rank
the different certification for integrity, he
says.
While Malaysia enjoys good government
support for halal products and is
internationally recognised as among the
pioneers in establishing a halal standard, its
weakness lies in the implementation stage,
Assoc Prof Yunus says.
Every time there is a change in state
government, there are different agendas so
efforts differ by state. Every state has halal
manufacturing hubs but they are
underutilised. There also needs to be
stronger effort in marketing Malaysian
products internationally, he says.

n For more information, visit

www.buseco.monash.edu.my.

THE STAR, TUESDAY 2 AUGUST 2016

course focus 5

A background in business or accounting can open doors to business

opportunities worldwide.

Business
studies for
every niche
INFRASTRUCTURE University
Kuala Lumpurs (IUKL) Faculty
of Business and Accounting
(FBA) offers the Bachelor of
Business Administration (Hons),
with various majors that aim to
prepare students for
management positions or
professional careers in various
departments and industries.
The entrepreneurship major
provides students with the
option to either develop the
market and manage their own
business or pursue a career with
a company. Students will be
required to develop business
plans, business goals and
strategies to achieve these goals.
The finance and banking
option educates students
on the operations of financial
institutions and markets as well
as the financial management of
business operations.
Students will be exposed to
processes surrounding monetary
resources of organisations and
gain insight on banking,
investments, insurance, tax and
loans, whereas the Islamic
finance and banking major
features financial aspects in
Islamic modes.
The human resource
management major will
equip students with people
management skills and
motivational techniques for
employees to accomplish
organisational goals, as a quality
workforce is essential to ensure
its success.
IUKLs fifth major is
international business, which
aims to equip students with
strategies to meet the demands
of foreign environments as well
as develop their understanding
of the culture, politics, language
and customs of countries.
The marketing option
prepares students to reach out to
consumers in the market. This
major is the most creative, as
students will be involved in
advertising, marketing
campaigns, developing
marketing materials and also

work with the media on a

given product.
The e-commerce major will
serve as an innovative tool to
reach customers globally, as
e-businesses are becoming
increasingly popular. Students
will spend extensive time using
their creative skills to develop
online advertisements, websites
and social media pages.
In addition to this, IUKLs
Diploma in Business
Administration offers insight
into the world of business
administration that covers a
wide range of topics.
Students will be able to
develop fundamental skills to
acquire knowledge in business,
finance, marketing and
management.
Diploma graduates will enjoy
a year of credit exemption to
pursue their business degrees.
Sijil Pelajaran Malaysia (SPM)
or O-Levels school-leavers may
also opt for the one-year
Foundation in Arts programme
to prepare themselves for the
three-year degree.
Other business-related
degrees available at IUKL are
the Bachelor of Accountancy
(Hons), Bachelor of Science
(Hons) in Logistics and Supply
Chain Management and
Bachelor of Science (Hons) in
Economics and Finance.

Discover the new IUKL

IUKL is transforming into a
modern university within the
100-acre (40.46ha) freehold new
education township. Discover
the new IUKL during its Info
Day that will be held on Aug 13
and 14 from 10am to 4pm.
September intake is in
progress. You can start a
programme at IUKL with only
RM100 and enjoy a RM500
rebate for on-the-spot
registration during the Info Day.

n For more information, call

1800 88 STUDY (78839) or visit
www.IUKL.edu.my.

THE STAR, TUESDAY 2 AUGUST 2016

6 course focus

Top in the world

FOR the fourth year in a row,
Brickfields Asia Colleges (BAC)
A-Levels students received the
prestigious Outstanding Cambridge
Learner Award for their excellent
results in the Cambridge
International Examinations (CIE).
Students Goo Yee San and Joshua
Lai Wah Ern (both specialising in
law) scored the highest marks in
the world for A-Levels and
AS-Level respectively.
This is a proud moment for us
as our students are well on their
way to becoming skilled citizens
who can contribute to the future
development of our nation, says
Murali Kandasamy, BACs chief
executive officer and academic
director.
Since 2010, BAC students have
been awarded the Top in the World
Outstanding Cambridge Learner
Awards (formerly Cambridge
Brilliance Awards) for law and
business studies four times, with
three consecutive wins from 2012
to 2014.

Pre-university
The CIE A-Levels is the most
recognised pre-university
programme in the world. Students
can select from a range of A-Levels

subjects that BAC offers, allowing

them to progress to a variety of
degree programmes.
Students who want a head start
in their careers can opt for the BAC
A-Levels Express Route. This
programme coupled with BACs UK
Transfer Degree Programme in
Law or Business allows students to
graduate up to two years ahead of
their peers.
The Foundation in Arts
programme is a one-year
programme designed to equip
students with the level of academic
literacy, skills and confidence
required to pursue an
undergraduate degree in the arts,
humanities or social sciences.

BAC and two years at a partner

university) or a 2+1 (two years at
BAC and one year at a partner
university) option.
Upon successful completion of
the programme, students will be
awarded an LLB (Hons) degree
from the respective universities.
Students graduating with a
degree from a partner university
will be awarded a United Kingdom
Qualifying status, making them
eligible for the Bar Professional
Training Course (BPTC). Individuals
who intend to practise law with
this degree can choose between the
BPTC in the United Kingdom and
the Certificate in Legal Practice
(CLP) in Malaysia.

Law

Business

Students can pursue their LLB

(Hons) via the University of
London International Programmes,
the only external law degree
recognised by the Legal
Professional Qualifying Board. This
programme allows students to
complete all three years of
education in Malaysia.
BAC also offers the UK Transfer
Degree Programme (Law) where
students are given the choice to
complete either a 1+2 (one year at

The UK Transfer Degree

Programme offers students a
choice of degrees, including
business management, accounting
and finance, and logistics and
supply chain management, from
more than 10 UK partner
universities.

Accounting and finance

At BAC, students interested in
accounting and finance can choose

(From left) Goo Yee San, BACs chief executive officer Murali Kandasamy and
Joshua Lai Wah Ern.

from the UK Transfer Degree

Programme (Business) offering
degrees in accounting and finance
from four prestigious UK partner
universities.

Campuses
BACs Kuala Lumpur campus
comprises three premises, which
are all within walking distances of
one another. The BAC 2 building
houses a law library, computer
laboratories, a gym, dance studio,
moot court, cafeteria and the Sky
Garden rooftop caf.
The Petaling Jaya campus

includes a library and research

centre, computer laboratories,
moot court, the BACteria food
court, TWS Caf, Rock Academy
music school, and the Monster Fit
health and wellness centre.
BAC offers a luxurious but
reasonably priced student
residence called The Mansion.
These high-end condominium units
come with a gym and barbecue
areas and can house close to 600
students.

n For more information,

call 03-2274 4165 or visit
www.bac.edu.my.

THE STAR, TUESDAY 2 AUGUST 2016

NOTTINGHAM University
Business School has been
awarded renewal of a major
independent accreditation,
EQUIS, for the maximum length
of five years. This achievement
places the school among a select
global group of business schools
that hold the full five-year
accreditation. Extensive visits
earlier in the year by an
international EQUIS peer review
team assessed all the schools
operations in the UK, China and
Malaysia.
EQUIS is one of the three
prestigious accreditation
schemes for leading institutions
in business education. It is
granted and run by, the
European Foundation for
Management Development
(EFMD), which is based in
Brussels, Belgium. EQUIS is a
mission-based accreditation
with an international focus.
Achieving the coveted fiveyear accreditation signals
EFMDs confidence in the
schools quality and allows
Nottingham to position itself as
one of the worlds top business
schools offering an outstanding
education.
Uniquely, Nottinghams EQUIS
accreditation applies to all
Nottingham University Business
School operations on campuses
in the UK, China and Malaysia. It
is the only UK business school to
hold EQUIS accreditation in
three locations.
It takes several years to
prepare for the rigorous process
of accreditation. EQUIS assesses
business schools as a whole,
including not only all
programmes but also all
activities and sub-units of the
institution covering teaching,
research, business connections,
executive education provision
and community outreach,
alumni relations, student
opinion, administration and
resources.
EQUIS focuses on a strong
interface with the world of
business, internationalisation
and contribution to the
community, which are
increasingly important attributes
of leading business schools. We
are grateful for the involvement
of our alumni and corporate
friends and associates in
contributing to this success, says
Prof Alistair Bruce, dean of
Nottingham University Business
School.
The dean of Nottingham
University Business School
Malaysia Prof Lee Chew Ging,

course focus 7

Business School flies high

adds, Nottingham University
Business School has the
distinction of being the
only business school in the
world to be accredited for its
operations in three countries
simultaneously. To secure this
accreditation, the school would
have had to show evidence of
activities of very high quality
and the existence of a strong
international dimension.
Hence, Nottingham
University Business School
Malaysia is in a unique position
to offer the very best in business
higher education in Malaysia
and in the region in which we
operate. Our students will gain a
robust international perspective
on management issues that will
help them understand the
increasingly globalised and
multicultural work
environment.
Dr Hsin-Vonn Seow, who led
the Accreditations and Standards
Committee at the Malaysia
Campus of Nottingham
University Business School in
preparation for the accreditation
assessment, says, The
preparation leading up to the
EQUIS accreditation provided
feedback on how to continue
improving the Business School.
Further, the site visit by the
EQUIS peer review team to the
Malaysia Campus of Nottingham
University Business School
provided the panel with some
examples and insights into how
the Business School achieved
and maintained the high quality
of activities on our international
campuses. We hope to be able to
secure a similar achievement in
our efforts towards our AACSB
(the Association to Advance
Collegiate Schools of Business)
accreditation so as to complete
the triple crown.
The triple crown accreditation
refers to accreditations awarded
to business schools by the three
most sought-after business
school accreditation associations
in the world EQUIS, AACSB and
the Association of MBAs (AMBA).
As of May this year, there are 74
business schools in the world
with triple accreditations.

n For more information on

Nottingham University Business
School, visit www.nottingham.
edu.my/Business.

Nottingham University Business School strives to produce world-class

business graduates with the renewal of the EQUIS accreditation.

Nottingham University Business School offers top-quality business higher education in Malaysia and in the region.

THE STAR, TUESDAY 2 AUGUST 2016

8 course focus

Learning by doing
STUDENTS of the Berjaya Business
Schools Entrepreneurship
Development course were given
the opportunity to turn their ideas
into small businesses by putting
knowledge gained in the classroom
into creating simulated real-world
skills.
At Berjaya University College
of Hospitality (Berjaya UCH), the
Young Entrepreneurs Fair 2016
was created as a platform for
students to showcase their business
gumption. Its aim is to provide
students with the opportunity to be
fully engaged in business through
immersion methodology, or
learning by doing.
As part of their coursework
assessment for each trimester,
students were required to work
in teams to conceptualise a
business idea, prepare a budget
and marketing strategy, organise
and eventually manage the
business.
This trimesters Young
Entrepreneurs Fair had a unique
theme The Enchanted Cruise
providing an effective platform
of active pedagogies to foster the
spirit of entrepreneurship. On the
day of the fair, the students were
given the freedom to conduct the
businesses of their choosing,
subject to a few ground rules.
Business consisted of food and
beverages, games and retail
products. Students involved were
from different programmes
including business, retail,
hospitality, culinary arts, event
management and tourism.
The infallible synergy between
these students saw them learning
the fundamental skills of working,
communicating and strategising
together as a team. The students

Deputy vice-chancellor Prof Lee Chai Buan (fifth from left), executive director/
vice-chancellor Prof Emeritus Walter Wong (sixth from left) and Berjaya
Business School dean Assoc Prof Dr Chin Sze Kim (seventh from left) posing
with students at the launch of the Young Entrepreneurs Fair.

also learned to overcome problems,

compromise, work with full efficacy
and manage their time efficiently
along with other basic management
skills such as decision making and
problem solving.
We are very pleased to witness
students immersing themselves in a
real working environment, as this is
the most effective way of learning,
which is learning by doing, says
Assoc Prof Dr Chin Sze Kim, head
of Berjaya Business School.
This years fair was especially
exciting and unique as it combined
two themes, magic and cruise.
Booths were decorated to reflect
both the themes and creativities
were put to the test.
The atmosphere on the day
of the fair was very energetic as
most of the students present were
graduating students and this was
to be their final group project, and
profits totalled RM11,850.
Berjaya UCH is Malaysias
premier university college in the
fields of hospitality, culinary arts,

tourism and event management.

Located on the 11th and 14th floors
of Berjaya Times Square, it is
conceptually designed with a fivestar hotel ambiance, equipped with
the most comprehensive and
advanced facilities that mirrors
real-world settings. Berjaya UCH
also offers courses in business and
liberal arts.
It is working to make higher
education more accessible,
affordable and attainable for
everyone. The Perbadanan Tabung
Pendidikan Tinggi Nasional
(PTPTN) education financing
scheme is available for Malaysian
students.
Berjaya UCHs affiliation with
the Berjaya Corporation Berhads
group of companies also allows it
to host several bursary schemes
and education scholarships
available to both local and
international students.

n For more information, visit

www.berjaya.edu.my.

Top honours for Malaysian students

A FIRST Class Honours degree from
the University of Londons
International Undergraduate Laws
Programme is almost impossible to
achieve.
But once again, true to its
tradition of excellence, Advance
Tertiary College (ATC) has
produced a student who has
captured the honour. Tan Chuan
Yi, a student from its Kuala
Lumpur campus, is also ranked
No.2 in the world. He is the 15th
student from ATC to obtain this
world-class achievement in its 28
years.
This also makes ATC the only
institution in the world to produce
this many First Class Honours
degree holders for the University
of Londons International
Undergraduate Laws Programme.
From the time that I began my
A-Levels at ATC, I had the
wonderful experience of working
closely with my friends and
lecturers, many whom have a great
passion and dedication towards the
study of law, says Tan.
ATC provides us with one-onone sessions with the lecturers.
These sessions are crucial to our

Tan Chuan Yi of ATC has achieved First Class Honours from the University of
Londons International Undergraduate Laws Programme.

understanding of the subject

matter and give us the opportunity
to clear any doubts.
This year, ATC has double reason
to celebrate. It has also produced
the winner of the Malaysian Law
Scholarship for last year.
This year, the scholarship, which
is fondly referred to as the Kings
Scholarship, was awarded to
Daphne Sit Wei Jing, another
student from the KL campus.
The scholarship goes to the
student who has obtained the
highest marks in Year 1 and it gives
its recipient the once-in-a-lifetime
opportunity to complete Years 2

and 3 at the Kings College London.

The lecturers at ATC provided
me with a strong platform and
foundation to pursue and cultivate
my passion for law, says Sit.
Tan agrees, saying, I most
certainly could not have achieved
this amazing milestone without the
help of the lecturers at ATC. I really
think that the secret ingredient to
success is to have dedicated teachers
and that is something that ATC most
certainly can be proud of.

n For more information,

call 1800 889 292 or visit
www.atc2u.edu.my.

THE STAR, TUESDAY 2 AUGUST 2016

course focus 9

The Chartered Financial Analyst designation is the professional standard for those who intend to
have a career in the finance and investment management industry.

Building a future
in finance
IN an effort to provide job seekers with an
avenue to meet potential employers in the
financial industry, CFA Society Malaysia is
collaborating with prestigious local and
foreign financial institutions and regulators
to organise the CFA Society Malaysia Career
Day 2016 on Aug 28 at Aloft Kuala Lumpur
Sentral from 10am to 5pm. Admission is free.
This event is an amazing opportunity for
candidates of the CFA and Claritas Programs,
university graduates and undergraduates
who aspire to build a career in finance and
investment management. This flagship event
is a great platform for participants to
interact with and gain insights from
inspiring managers of top organisations.

Highlights of the event

CFA Society Malaysia, together with large
financial institutions (such as Maybank and
Standard Chartered Bank), international and
local consulting firms (PwC, KPMG, Baker
Tilly), leading fund management companies
(Public Mutual Berhad, Libra Invest Berhad),
multinational headhunting firm (Reed
Global), several financial training and course
preparatory providers (Wiley, Sunway-TES,
AB Maximus Training, Malvern International
College, Noesis Exed) will be present to
answer queries from participants. The
programme line-up includes:
l The corporate ladder; a discussion on
real-world challenges within the corporate
world
l A day of a CFA Charterholder at work;
highlights of various daily job functions of
CFA Charterholders in the industry
l Women in finance; a forum dedicated to
celebrate women empowerment within the
industry
l Exclusive curriculum vitae (CV) review
workshop; organised by an international
recruitment firm

Understanding the demand for

investment professionals
For those who are new to the investment
management profession, the Chartered
Financial Analyst (CFA) designation is the
professional standard of choice for more
than 31,000 investment firms worldwide.
In todays ever-changing global financial
markets, the need for investors to hire
investment professionals with real-world
analytical skills and technical competence
who, practise the highest professional
standards are essential. Earning the CFA
charter is a testament to having the
fundamental knowledge, skills and
experience for investment analysis
and decision-making in todays dynamic
global markets.
According to the CFA Institute, the asset
management industry is by far the biggest
employers of CFA charters worldwide with
23% of them being portfolio managers,

Top occupation of members

(as of January 2016)
23%

Portfolio manager
16%

Research analyst
Chief-level executive

7%

Consultant

7%

Risk manager

6%

Corporate finance analyst

5%

Relationship manager

5%

Financial advisor

5%

Top occupations of CFA charters worldwide.

followed by research analysts (16%) and

chief executive positions (7%). Meanwhile,
the other 26% not displayed above are also
in the job positions requiring investment
knowledge, analytical skills and financial
fluency such as accountants, auditors,
traders and investment banking analysts.

The CFA and Claritas Programs

With more than 130,000 CFA
Charterholders across 140 countries,
the CFA credential has been gaining
recognition as the The Gold Standard
in the global investment management
profession. The number of candidates
who sat for the CFA examination over the
past 10 years has almost doubled from
more than 91,000 back in 2006 to more than
170,000 this year. Many professionals are
attempting to join the investment industry
today, putting themselves through three
levels of six-hour examination to earn the
right to put CFA behind their name.
The CFA curriculum itself is continuously
evolving to maintain relevance and equip
candidates of the programme with
knowledge of current industry practice.
Apart from that, having four years of
professional work experience in the
investment decision-making process is
also a requirement before being able to
qualify for the CFA designation.
On the other hand, the Claritas Program
is an alternative to the CFA Program, for
anyone who works with or for financial and
investment services organisations in roles
such as information technology, sales and
marketing, human resources and customer
service. The Claritas Program covers the
essentials of finance, ethics and investment
roles that will provide a clear
understanding of the global investment
industry.

n For more information, visit

www.cfasociety.org/malaysia. To register
for the event, visit https://goo.gl/rOqUFb.

THE STAR, TUESDAY 2 AUGUST 2016

10 course focus

Learning, teaching and growing

WHEN I first found out that
Sunway Universitys BSc (Hons)
Accounting and Finance is
considered one of the most
challenging accounting and
finance degrees in Malaysia, I
was immediately drawn to it.
I believed that in order to
succeed in a highly
competitive business world,
one must first learn to
compete among the
best and thrive in a
difficult
programme, says
22-year-old Tee Sue
Anne.
Tee, currently
in year three,
says the key
determining
factors in
picking Sunway
University were
the potential
opportunities
available and the
support to be an
all-rounded and
balanced individual.
Apart from the quality
education in accounting
and finance, I was also
looking for a university
that encourages and

supports its students to explore

and push their boundaries. I
believe that a university
should be a platform for
students to try new
things, step out of their
comfort zones and
challenge themselves to
be better individuals as
a whole, she explains.
Tee finds the nature
of her coursework
most interesting as it
encourages
creativity. From
shooting videos to
designing websites,
we are exposed to
different things that
one may not find to
be of relevance to
accounting and
finance. However,
with the everchanging business
world, it is
important for us to
equip ourselves
with different skill

Tee Sue Anne.

sets that are not necessarily

confined to report writing and
presentation skills.
The former student of SMK
Taman Desa, Kuala Lumpur,
says she became interested in
accounting and finance when she
first took accounting as the 10th
subject in her Sijil Pelajaran
Malaysia (SPM) examinations.
Being a pure science student, I
was pretty sure then that I would
be pursuing a degree in the science
field. However, as I continued to
study accounting, I found myself
loving the subject as its nature
often coincided with my detailoriented personality. There was
also a feeling of contentment and
excitement when I managed to
interpret the financial information
and was able to understand the
demands of businesses better.
Now, with finance as my second
major, I believe it will enhance my
understanding further.
Aside from concentrating on her
degree, Tee is a peer-assisted
learning leader. I started as a
programme coordinator for the
Peer-Assisted Learning Program
(PALP) under the Sunway
University Business School (SUBS)
Student Concilium academic
relations team. At the same time, I

Apart from the

quality education
in accounting
and finance, I
was also looking
for a university
that encourages
and supports its
students to explore
and push their
boundaries.
Tee Sue Anne

applied to be one of the peerleaders of the programme.

Now, as head programme
coordinator, her duties include
recruiting new cohorts of peerleaders as well as working together
with the Academic Quality Office
to create suitable and updated
training modules for both new
and existing peer-leaders.
For Tee, juggling her studies
and duties requires effective time
management. She enjoys her duties
with the PALP as she gets

satisfaction from knowing that

mentees are benefiting from the
programme.
Through helping others, Tee
finds that she has learnt, too.
Initiating a new programme
is never an easy feat. It takes a
lot of determination and faith.
Throughout the entire process, I
have grown stronger mentally in
dealing with the challenges and
pressure to make the programme
as effective as possible.
BSc (Hons) Accounting and
Finance at Sunway University is
aimed at providing students with
an in-depth understanding of how
accounting and finance fits into the
broader context of business and
management. Students will be
equipped with critical thinking and
problem-solving skills needed to
succeed in todays fast-moving
business world. The programme
places emphasis on work-based
learning, research-led teaching and
a holistic, all-rounded education.
The programme is industryrelevant and recognised by
renowned professional bodies.

n For more information, visit

university.sunway.edu.my/BachelorHons-Accounting-Finance or call
03-7491 8622.

Careers in
forensic
accounting
IN line with the Governments efforts to
focus on accounting as a major contributor
to the nations economy, accounting courses
continue to be a popular choice among
students across universities in Malaysia.
But amid the financial scandals that have
rocked the corporate world within the last
decade and the current economic downturn,
forensic accountants are becoming ever
more vital. Forensic accounting and fraud
investigation is one of the fastest-growing
areas of accounting and the world will need
these experts to ensure financial transactions
are always performed legally and ethically.
Here are some of the areas that will
continue to require the services of forensic
accountants:
l Private and corporate sector As
suspicions of fraudulent activity within a
company can arise at any point in time,
some large corporations and public-listed
companies may have forensic accountants
permanently on their payroll. Discovering
misconducts internally costs less compared
to hiring third parties and reduces chances
of a publicised scandal.
Other companies may decide to hire
external experts only when they are
confident of a misdeed or abuse of power.
Over the years, many accounting firms are
also expanding their forensic and fraud
services.
l Agencies (such as the police and
Inland Revenue Department) Working
together with law enforcement, forensic
accountants may be hired to investigate
anything from possible cases of money
laundering, identity theft-related fraud, tax
evasion to even tracking terrorism activity

Forensic accountants are required across

various industries to ensure legal and ethical
financial transactions.

by investigating financial records.

Among the most famous cases of tax
evasion was the sentencing of American
Mafia boss Al Capone in the 1930s. Capone
was previously able to avoid long-term
imprisonment on multiple occasions, thanks
to his reputation and influential
connections.
l Law firms Perhaps, the point where
forensic accountants become exceptionally
important is when they uncover instances
of companies falsifying profits or diverting
large amounts of money to company
directors.
These findings then lead to highly
publicised legal battles that often result in
companies facing hefty fines or bankruptcy
and prison sentences for top officials.
Besides royalty audits, shareholder and
partnership disputes, and insurance and
personal injury claims, forensic accountants
are also used in divorce cases to help
uncover hidden assets owned by former
spouses.

THE STAR, TUESDAY 2 AUGUST 2016

WHILE Australia is well known for

its koalas and the Sydney Opera
House, the Land Down Under is
also home to 43 universities, seven
of which are among the top 100 in
the world, according to the QS
World University Rankings
2015/16.
Being relatively close to Malaysia
and offering a world-class
education make Australia the
obvious choice for those who wish
to get a head start. The answers
you seek regarding studying in
Australia may be acquired at the
Study In Australia Fair organised
by University Placement Services
(UPS) and to be held at Taylors
College Subang Jaya this Saturday
(Aug 6).
UPS is a one-stop university
information and application
service for Taylors students and
their parents. It has offices located
at both the Subang Jaya and the
Sri Hartamas campuses.
UPS aim is to assist Taylors
students with their applications to
the universities of their choice. It is
staffed with advisors who offer
assistance on applications to
institutions around the world,
including in Australia, Canada,
Hong Kong, Malaysia, New
Zealand, Singapore, the United
Kingdom and the United States.
Representatives from local and
overseas institutions also visit UPS
frequently to meet and advise
Taylors students on the study
options available at their

course focus 11

Best advice on
Australian education

Representatives from Australian universities giving personalised advice to

students and parents at the Study in Australia Fair last year.

respective institutions.
The fair, featuring 27 renowned
Australian universities, is the
gateway for prospective students
and parents looking for a wide

range of Australian education

options. They can meet and
interact directly with university
representatives who will provide
counsel and recommendations.

Other services offered at the fair

include advice on scholarships,
accommodation and expectations
of student life on and off campus
in Australian universities.
Education experts will also be
present to shed light on English
language proficiency requirements
for Australian university
admissions.
If you are unsure whether you
are qualified for admission to an
Australian university, find out by
participating in an on-the-spot
assessment with your most recent
academic results. Furthermore,
students who submit applications
at the Study in Australia Fair can
enjoy a waiver on their application
fees, subject to terms and
conditions.
Besides visiting a variety of
university booths, parents and
prospective students can also
attend a forum Australian
Education: Your Next Step!, which
will be held at 11am and 2pm.
The forum will discuss the
importance of developing

graduates with a global outlook

through a holistic Australian
education experience and provide
information such as types of
qualifications accepted by the
university, estimated annual
tuition fees and living costs,
working opportunities and
financial aid.
Prospective students and parents
can obtain knowledge based on
opinions shared by representatives
from The University of Melbourne,
Queensland University of
Technology, Flinders University,
The University of Sydney, Murdoch
University and University of
Canberra.
The fair will also feature other
Australian education opportunities.
Taylors University representatives
will be on hand for students
looking for the transfer option
to Australian universities.

n For more information, call

03-5636 2641, e-mail placement@
tiannet.com.sg or visit www.
taylors.edu.my/studyinaustralia.

12 course focus

THE STAR, TUESDAY 2 AUGUST 2016

Word on
the industry
TO learn more about forensic accounting
and its importance in Malaysia, Course Focus
speaks to Geetha A. Rubasundram, lecturer
at Asia Pacific Universitys School of
Accounting, Finance and Quantitative
Studies.
What is the job market like for
accountants in general? And what is the
scenario specifically for forensic
accountants in Malaysia?
Malaysia needs about 60,000 accountants
to support the transformation into a
developed nation by 2020. The profession
faces a growing challenge in Malaysia as
many highly skilled accounting professionals
are moving to international locations, hence
causing a shortage.
There is growing awareness of the role of
forensic accountants as well as the aspects
that constitute fraud, the risks and impact of
fraud. Hence, a lot of auditors have added
relevant forensic accounting or fraud
investigation certifications.
Are forensic accountants only involved
in matters where there is suspicion of a
crime being committed or do they have
other roles?
Forensic accountants combine accounting
knowledge with investigative skills in
various litigation support and investigative
accounting circumstances. Investigating
fraud is just one part of the story. They also
conduct forensic analysis of financial data,
trace funds, damages calculation in civil
litigations, proactive risk assessments and
assets for recovery.
Can general accountants or auditors make
the transition into forensic accounting?
Are there specific challenges for
accounting professionals wanting to
make this transition?
Being a certified accountant or Certified
Public Accountant does provide an
advantageous leap into the role of a forensic
accountant, but it may not necessarily
provide the required skills and knowledge
to carry out investigations or be an expert
witness. Forensic accountants need to know
the right manner to obtain evidence as any
mishandling of evidence can severely

Nations leading players

PwC (PricewaterhouseCoopers)
Deloitte
KPMG
EY (Ernst & Young)
BDO International

Associated bodies
Institute of Certified Forensic
Accountants
Malaysia Institute of Accountants
Malaysian Association of Certified
Fraud
Examiners
Association of
Chartered
Certified
Accountants
CPA Australia

Forensic accountants
need to be highly
specialised and have
in-depth knowledge.
Geetha A. Rubasundram

jeopardise the case.

Most job requirements for forensic
accountants these days require a bachelors
or masters degree in forensic accounting. A
qualification from forensic accounting
bodies such as the Association of Certified
Fraud Examiners (ACFE) is also preferred.
However, the education itself is not sufficient
in the long term and forensic accountants
need to update themselves and be
aware of the various legislations that
could compromise their investigations
or quality of evidence.
How would you compare the level of
forensic accounting in Malaysia to
countries such as the United Kingdom
and United States?
Many forensic accountants in the past
come from audit or other compliance-based
roles, where they may not have the required
investigative skills, experience and
knowledge prior to taking on cases. Keeping
in mind that investigation outcomes tend to
be used for litigation purposes, the forensic
accountants need to be highly specialised
and have in-depth knowledge in accounting,
auditing, business, law and technology.
How do you see the field of forensic
accounting changing within the next
five years?
With the movement towards finance
technologies, crypto-currencies and
cloud-based applications, there are
more opportunities for online- and
technology-based fraud to take place.
A lot of accounting modules in universities
will include a general forensic module in
order to educate the students on the risks of
fraud. However, this education opens up the
avenue for fraudsters to cover up their
tracks by manipulating the education and
training they receive.
All these changes affect business processes
and environments, and likewise expose the
business to new risks. Therefore, the field of
forensic accounting can only grow and
become increasingly relevant to all types of
organisations.