Appreciation to Malaysian NPOs

ARI thanks all the Malaysian Non Profit Organizations (NPOs)who attended the workshop on "Governance and Financial Management of Malaysian NPOs" at the International Auditorium, Companies Commission Malaysia (CCM). The half-day engagement event was jointly organized by the Accounting Research Institute (ARI) and CCM. The event was basically divided into three components. The first component comprised briefing by two speakers: Mr Sufyan from CCM spoke on the governance of NPOs in Malaysia and Ms Suhana from the Financial Intelligence Unit FIU discussed the Anti-Money Laundering & Countering Financing Terrorism Framework and how the framework affect the Malaysian NPOs. The second component was the discussion session where participants was asked to elaborate on responsibilities, issues, problems, support system and the governance of NPOs in this country. The third component was the focus group interviews where ARI researchers conducted interviews to find out more about actual practices and the financial governance of NPOs. All in all, the discussions highlighted some very interesting findings. First on the need to set up a commission on Charity and Non-Profit Organisations. Second is on the need to award "tax exempt status" to qualified NPOs. Third was on the need to develop special financial reporting framework which is based on activities. Something to ponder.....