USM PENANG, 14 February 2025 – The School of Management (SOM) at Universiti Sains Malaysia (USM) received a courtesy visit from Allan Vallance, the Chief Executive of the Institute of Chartered Accountants in England and Wales (ICAEW) yesterday.

Vallance was accompanied by ICAEW Head of Malaysia, Shenola Gonzales; and Senior Business Development Manager, Mazni Norilah.

At SOM, the ICAEW delegation received a warm welcome from the Deputy Dean of Academic, Career and International, Associate Professor Dr. Abdul Hadi Zulkafli; and Accounting Chairperson, Associate Professor Dr. Zubir Azhar, along with members of the Accounting Section of SOM.

The visit was part of ICAEW’s ongoing effort to enhance its longstanding collaboration with USM and promote greater engagement with students and academics.

According to Zubir, USM is proud to be one of the few universities in the world to be awarded the status of ICAEW ACA Strategic Credits (SC) Partner.

“This achievement is the culmination of efforts beginning in 2012 when USM was recognised as ‘Partner in Learning’ for the ICAEW, leading to the ICAEW Strategic Credit status in 2020, and ultimately becoming an ICAEW ACA SC Partner in 2022,” he said.

He added, “The ICAEW ACA SC Partner status allows USM Bachelor of Accounting with Honours students to receive the maximum number of exemptions for the ICAEW’s Chartered Accountant (ICAEW ACA) qualification.”

“Of the 15 ICAEW papers, USM Bachelor of Accounting with Honours students only need to complete three additional papers upon graduation.

“This attests to the quality of the USM Bachelor of Accounting with Honours programme, which also receives the maximum number of exemptions for other professional accountancy qualifications,” said Zubir. 

He explained further, “The programme has consistently ranked as having the highest graduate employability rate among public universities in Malaysia, and its graduates are in high demand both in Malaysia and abroad.”

“The ICAEW ACA SC partnership includes knowledge transfer from ICAEW ACA qualification, one of the most advanced learning and professional development programmes.

“In addition, ICAEW has been working closely with USM to train students through structured work experience placements with ICAEW’s Authorised Training Employers,” he said. 

Zubir added, “With the ICAEW’s support, USM has organised various student activities, including the Accounting Professional Avenue (APA) and the USM-ICAEW Student Forum, which are both held annually and attended by students from USM and other universities.”

The highlight of the ICAEW visit was Vallance’s engagement session entitled “The Future of the Accounting Profession” with students and academics in USM.

The lively and engaging session provided an international perspective on the changing business landscape and the latest developments in the accounting profession, which inspired and motivated participants.

The session also underscored the importance of attaining professional qualifications such as the ICAEW ACA in future-proofing accounting graduates.

The Institute of Chartered Accountants in England and Wales (ICAEW) has a significant contribution to education by offering resources, training, and support for students and professionals in accountancy. Key aspects include:

1. Professional Qualifications: ICAEW provides the prestigious ACA qualification, ensuring its quality through assessments and updates.
2. Continuing Professional Development (CPD): They offer webinars, courses, and other resources to keep members updated with industry trends.
3. Ethics and Standards: ICAEW promotes high ethical standards and provides training on their Code of Ethics.
4. Academic Partnerships: They collaborate with universities to integrate their qualifications into academic programmes.
5. Community and Networking: ICAEW offers networking opportunities for members in academia and education.

These efforts help accountants to remain well-prepared and maintain high professional standards.

Source: Press statement from Accounting Section, School of Management, USM/Editing: Tan Ewe Hoe