Monday, May 16, 2011

Governance and Financial Management of NPOs

The Accounting Research Institute, in collaboration with the Companies Commission of Malaysia (CCM) will be organizing a one-day seminar cum workshop with various non-profit organizations (NPOs) in Malaysia. The event will be held on the 19th of May 2011 (Thursday)at the CCM auditorium. NPOs are therefore invited to attend the workshop. The focus of the workshop is twofolds. First, is to gather relevant input from the participants so as to enable the two organizers to develop suitable governance mechanism for the NPOs. Second, premised on best practice dimension globally, to develop suitable financial reporting framework for these non-profit organizations. Currently, ARI and CCM are undertaking a collaborative research that hopes to develop a more formalized governance and financial reporting framework for NPOs. The collaborative research is undertaken in response to the APG mutual evaluation that found Malaysia to be partially compliant with SR VIII on non-profit organizations as there exists “no ongoing strategy to identify and mitigate Anti Money Laundering & Counter Financing of Terrorism (AML/CFT) risks within NPO sector” (p. 218).

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