IAFCC 2013

Today, the Accounting Research Institute (ARI) organises a one day Islamic Accounting & Financial Criminology Conference (IAFCC 2013) in Shah Alam.  A total of fifty nine papers (59) comprising research findings from ARI Phase 1 projects were presented.  Basically the main aims of the conference is firstly, to compile all research papers (either already published or to be published in indexed journals); and secondly to identify and list all research spinoffs derived (or to be derived) from the research projects.  ARI requires that each research project supported by ARI HICoE grant must produce at least five spinoffs, two of which must be in the form of indexed publications.  Index publication means articles are published in journals that are indexed by either ISI Thomson, SCOPUS or Excellence Research Australia (ERA).  In general, most projects have produced the two compulsory publications.  Others are still working on delivering the remaining spinoffs.  Some of the spinoffs recommended during the conference include (i) publication of books of reading, (ii) paper presentation at international conferences, (iii) innovation and (iv) post graduate thesis.  Congratulations to all for your commitment ..

ARI Presentation TO CCM's Board

Today, the Accounting Research Institute (ARI) presented its proposal on "ARI-CCM Collaborative Works in Preparation of Forthcoming APG Mutual Evaluation" to the Board of Directors of Companies Commission of Malaysia (CCM).  The Asia Pacific Group on Money Laundering (better known as APG) is an international organisation (regionally focused) consisting of 41 member-countries and a number of international and regional observers including the United Nations, IMF, FATF, Asian Development Bank, ASEAN Secretariat, Pacific Islands Forum Secretariat and the World Bank.   The APG has a number of primary functions as follows:
(1) Assess APG members' compliance with the global Anti Money Laundering/Counter Financing of Terrorism (AML/CFT) standards through mutual evaluations; (2) Coordinate technical assistance and training with donor agencies and APG members/observers to improve compliance with AML/CFT standards; (2) Co-operate with international AML/CFT network; (4) Conduct research into money laundering and terrorism financing methods, trends, risk and vulnerabilities and (5) Contribute to the global AML/CFT policy development by active Associate Membership of FATF.  Basically, the proposed ARI-CCM collaboration focuses on creating awareness on AML/CFT standard among Non-Profit Organisations in Malaysia.  In the forthcoming APG Mutual Evaluation, one of the main focuses is to evaluate the governance and financing reporting of NPOs.  The collaboration will include collaborative research, training and outreach programs.  The BOD was indeed very supportive of the collaborative proposal.

 

IIDEX 2013

Researchers from the Accounting Research Institute (ARI) participated in the 3-day Invention, Innovation & Design Expo (IIDEX 2013) which has been recently held at the DATC Convention Centre at Universiti Teknologi MARA Shah Alam.  The annual event normally attracts between 200-300 participation from among staff and students of the university.  ARI sent sixteen participation mainly in the category  of innovation.  Congratulations to Associate Professor Dr Zuraidah Mohd Sanusi and her team as well as Dr Suhana & her team for winning the gold awards during the competition.  Other participants also managed to obtain silver and bronze medals.    Those who win  gold medals will be sent for national-level competition either at ITEX, MTE or PECIPTA.  Thank you all and congratulations.

Income Generation and Cost Saving Lab

Day 3

 On the third day of the workshop (or lab), participants get into four different groups to discuss (i) policy & governance of income generation; (ii) methods and types of income generation; (iii) policy & governance of cost savings and (iv) techniques and classification of cost savings.  Basically the groups deliberated and obtained relevant data to support their recommendation.  After much discussions, the chairman of each respective group had to present their proposals to all participants.  Whilst some proposals are "ready for implementation", others will still need to be further refined.  What is amazing about this type of lab discussion, is the ability of participants to concentrate, focus and deliberate on the subject matters in a very effective manner.  Congratulations to all for work well done.....

Income Generation and Cost Saving lab

Day 2:

On the second day of the workshop, participants were given more data and information by top management of the university.  The Vice Chancellor, Dato' Sri Pro Ir Dr Sahol Hamid Abu Bakar gave his keynote address and vision.  Income generation by public universities is a global trend.  For Universiti Teknologi MARA, that extra income can be used for some very good projects, such as to finance the "Mengubah Destini Anak Bangsa - MDAB".  The workshop focuses not only on income generation, more importantly it also promotes cost savings among members.  In his speech, the VC highlighted the need to target a minimum cost saving of at least 30% by the year 2015.  Cost saving measures include cost monitoring for university expenditures such as emolument (i.e allowances, overtime, claims and part-time salary); overhead & utilities (i.e. electricity, water, telephone, internet and wastages); process-related costs (i.e. printing, theft, beauracracy, waiting time) and resource-related cost (i.e. truance, absenteeism, fraud, idle time, low productivity).

Income Generation & Cost Saving Lab

Day 1: Members of the Senior Management Council (MPK) have been tasked to think of ways to generate more income and to save cost for the university (Universiti Teknologi MARA).  This weekend, members are attending a three-day lab discussion at the University's Training Centre in Kampong Gajah in Perak.  Deans, Campus Rectors, Directors of Centres of Excellence and Heads of Departments, together with the university's top management (i.e. Vice Chancellor, Deputy Vice Chancellors, Registrar, Treasurer, Assistant Vice Chancellors) will participate in brainstorming sessions to come up with appropriate policies, governance and strategies for income generation and cost saving initiatives.  Prior to the lab discussions, participants have been given pertinent information and data about the university that would be relevant.  Data on emoluments, expenditures on utility, procurement, income generation by strategic business units of the university were presented by the Registrar and the Treasurer.

Visit from EKONIS-UKM

The Accounting Research Institute (ARI) thanks members of  EKONIS from Universiti Kebangsaan Malaysia for visiting ARI today.  EKONIS is Research Center for Islamic Economics and Finance, which is based at the Faculty of Economics and Management, UNIVERSITI KEBANGSAAN MALAYSIA (UKM).  In 2010, EKONIS was granted by the Ministry of Higher Education, Malaysia as a center of excellence. The mission of the center is to foster the development of Islamic economics and finance fields by delivering the best research and providing the resources for scholars to develop themselves by the way of the Qur’an  and Sunnah.  During the meeting today, researchers from both entities discussed about possible collaboration, especially research in the area of Islamic Finance and Islamic Accounting.  Currently, few members from EKONIS are also part of the research team from Universiti Teknologi MARA that submitted afor the Long Term Research Grant Scheme (LRGS) for the topic on Islamic Philanthropy.  Joint conference and joint publication are also other possible collaboration.

Students Exchange Program

The Accounting Research Institute (ARI) and Faculty of Accountancy of Universiti Teknologi MARA (UiTM) welcome four students from Rangsit University, Thailand who will be attending the Bachelor of Accountancy program at UiTM for one semester.  This is part of a student exchange program between UiTM and Rangsit University.  A memorandum of Understanding has been signed between the two universities in November 2012.  Five UiTM students are already in Rangsit University to attend a six month course there.  Today, Dr Kathy from Rangsit University accompanied the students for a short briefing with the Faculty of Accountancy, UiTM.

ARI Sharing Session at IIUM

The Accounting Research Institute (ARI) thanks the International Islamic University Malaysia (IIUM) for inviting ARI director, Professor Dr Normah Omar for a "sharing session" with heads of research centres and centres of excellence of the university.  Also present at the session was the Deputy Rector (Research and Innovation), Professor  Dr. Ahmad Faris Ismail.  Through the sharing session with ARI, IIUM hopes to provide exposures and awareness to its research centres on the prospects of applying for the HICoE status, a program initiated by the Ministry of Higher Education (MOHE) since 2009.  Currently, there are three HICoE thrusts: Research, Service and Program.  To date, MOHE has recognized seven HICoEs for the Research & Innovation thrust, and ARI is one of them.  For ARI, the HICoE recognition has brought about many positive impacts.  Its niche research area in "Islamic Financial Criminology" has created knowledge impacts through indexed publications; economic impacts through the creation of new sustainable business for Islamic micro-finance recipients and social impact through the establishments of new policy and legislation to mitigate financial frauds.  It's a journey worth travelling....

FRGS 2013 Evaluation

The Fundamental Research Grant Scheme (FRGS) represents one of the biggest research grants provided by the Ministry of Higher Education (MOHE) for all researchers in Malaysia.  A total of 115 assessors who are professors in specific research areas have been appointed by by the Ministry to validate the final proposals submitted by institutions of higher learning.  The final evaluation was held for four days in Port Dickson.  The 2013 FRGS assessment had gone through very stringent evaluation process.  At the institution level, each submission must undergo at least two levels of content evaluations.  With respect technical processes, the Research Management Centres (RMC) of each institution will ensure researchers submit their proposals using the correct submission forms.  Each respective department or responsibility centre is also expected to do a pre-submission workshop to explain the "do's" and "dont's" of proposal submissions.  Once ready, the universities would invite  MOHE-appointed assessors to validate the final approved proposals.  If the assessors are not satisfied with the evaluation process, the whole stack of proposals from that university would be rejected.  As such, only "Highly Recommended"  approved proposals are submitted to MOHE for the final assessments.  The evaluation process was very thorough.  FRGS proposals are expected to highlight (i) "novelty" of the proposed project; (ii) Quality and intensity of collaborations; (iii) Technology transfer or commercialization potential; (iv) Quality of sectoral/national impacts; (v) Quality of organisational outcomes; (vi) Achievement viability of project objectives; (vii) Overall assessment of benefits.