CFO Breakfast Talk Series 2013

100 Drivers of Change for the Global Accountancy Profession
Organised by ACCA in collaboration with PwC



Date:
17 July 2013

Opening remarks:
Jennifer Lopez, Country head of ACCA Malaysia

Overview of key findings:
Faye Chua, Head of futures research, ACCA

Panellists:

  • Mohammad Faiz Azmi, PwC Malaysia Executive Chairman and Chairman of the Malaysian Accounting Standards Board (MASB)
  • Nik Mohd Hasyudeen Yusoff, Executive Chairman, Audit Oversight Board, Securities Commission
  • Ahmad Nordin Mohammad, Chief Financial Officer, Boustead Heavy Industries Corporation Berhad
  • Jason Crimson, Director, Asia Pacific Shared Service Centre, Kimberly Clark Regional Services

The breakfast talk, the first installment of ACCA’s CFO Breakfast Talk Series 2013, discussed the key findings and highlights from ACCA’s ‘100 Drivers of Change for the Global Accountancy Profession’ report. More than 70 finance heads, accountants and HR professionals attended the event.

The study explores the emerging drivers of change that could have the greatest impact on business and the accounting profession over the next decade. The research was commissioned by ACCA’s Accountancy Futures Academy and conducted by Fast Future Research.

Faye Chua gave the audience a snapshot of the report highlights including the five forces shaping the business environment and the five forces driving change in the accountancy profession. She drew the audience’s attention to the trends and new developments taking place across various sectors of the global economy.



ACCA Malaysia Country Head Jennifer Lopez giving the opening address



ACCA's Faye Chua presenting the key highlights from the survey report


The diverse group of panellists (a regulator, two industry practitioners, and a Big Four auditor) contributed many interesting perspectives to the dialogue, throwing in an anecdote or two and sharing some light moments in between.

Moderated by Faye, some of the issues discussed include understanding the role of accountants, trust and its relevance to the profession, managing talent, and the importance of developing a global orientation.


Some interesting quotes from the discussion:

Faiz on the concept of trust

"The key theme from the survey that resonates with me the most is trust. Trust is an overlooked asset especially among the CFOs. How do you get the CEO to recognise this? As auditors, we need to enhance trust through integrity and evolve our skill sets
in light of our challenging global environment."

Hasyudeen echoed Faiz' thoughts:

"What will not change even with all the 100 drivers of change, is trust and integrity. It must never change."

Jason on finding opportunities in technology:

"Embracing technology comes hand in hand with the discipline of managing
technology. It’s a question of responsible leadership."

Faiz on diversity in talent:

"Accountants of the future will have to come from diverse backgrounds. We will need engineers, biologists and so on to evolve our competencies and skills."


It was a proud moment for the auditors in the audience when Faiz highlighted his key takeaway from the event: “Being an accountant is cool. We should make it known to our kids that accounting is a cool profession.” A fitting end to the event indeed, capturing the exciting times we are in.



The participants listening intently during the event



ACCA's Faye Chua moderating the discussion



Faiz sharing a light moment with Nik Mohd Hasyudeen of AOB


Related information
  • PwC Malaysia’s social media team provided followers of @PwC_Malaysia on Twitter with live highlights from the event. Search for the tweets using the hashtag #CFOtalk.
  • Download the report and the abstract here.