Friday, June 26, 2015

New Cohort of Master in Forensic Accounting & Financial Criminology Students

Congratulations to all students who have just completed their AFC738 course on Money Laundering and Specialized Frauds at the Faculty of Accountancy, Universiti Teknologi MARA (UiTM). Besides topics on money laundering, this semester, the course has added other Specialized Frauds which cover offences such as bankruptcy fraud, matrimonial fraud, e-commerce fraud, corruption, identity fraud and insurance.  In implementing the students-centred and blended learning approaches, the continuous assessments have required the students to (i) prepare a video on their selected fraud investigation, and (ii) start a blog on their choice of fraud.  To add practitioners' input to the course, three speakers have been invited to give lectures.  SAC Mohd Noor Firdaus from the Royal Malaysian Police (PDRM) talked on the legislation Anti-Money Laundering, Anti Terrorism Financing and Proceeds of Unlawful Crime Act (AMLATFAPUA) 2001 and money laundering cases in Malaysia.  Tuan Kanakaraja A/L Muthusamy from the Anti Corruption Commission (SPRM) spoke on topics related to corruption, bribery and the Anti-Corruption Act.  Mr Mohd Rashid Azahari bin Tan Sri Musa spoke on various topics on specialised frauds such as identity fraud and bankruptcy fraud. 

Thursday, June 18, 2015

Social Transformation Program for Kelantan

Following the setting up of two tailoring transformation programs in Terengganu, researchers from the Accounting Research Institute (ARI) have been  invited recently to meet Kelantan royalty, YM Tengku Puan Temenggong Datuk Tunku Noor Hayati Tengku Abdul Rahman to discuss the establishment of new social transformation programs in Kelantan.  ARI was represented by its director Prof Dr Normah Omar, two deputy directors Associate Professor Zuraidah Mohd Sanusi and Associate Professor Dr Jamaliah Said and a research fellow, Dr Norazida Mohamed.  YM Tengku Puan Temenggong brought with her, three associates: Puan Sharifah Rahayu, Puan Jamaayah Che Ros and Cik Liyana Malik.  As the prospective programs will be established and conducted in Kelantan, ARI will be outsourcing some experts from Universiti Teknologi MARA Kelantan campus.  As such, the Rector of UiTM Kelantan, Dato' Mohd Helmi and a research Datin Faizah have also been invited to participate in the discussions.  YM Tengku Puan Temenggong is keen to set up a Foundation - YANAS that will be used as a platform to source for funding.  Based on ARI's previous experiences, the specific group to focus for the transformation program will be single mothers who are currently registered with KEMAS.  To date, KEMAS is involved in facilitating the community in many activities such as tailoring, education, food, batik and souveniers.   Following this initial meeting, the process to register YANAS will commence,  Once the meeting with KEMAS is held, the preparation for a signing of MoU between ARI and YANAS will be arranged.  We at ARI look forward to another successful and impactful venture.

Monday, June 15, 2015

Tailoring Transformation Through Islamic Microfinance Program

The Tailoring Transformation Islamic Microfinance in Terengganu involve four strategic partners: (1) The tailoring entrepreneurs themselves who are the main players- currently, there are 20 of them working in two separate centres in Paka and Kuala Terengganu.  The groups target to produce 1500 pairs of baju kurung during this fasting month.   (2) Sultan Mizan Royal Foundation (YDSM) acts as a financier to the transformation program.  Alternatively, financing for the program can also be sourced from other agencies such as microfinance companies (Amanah Ikhtiar Malaysia - AIM and Tekun), State Islamic Council, Zakat Centre and Banks.  As a financier for this transformation program, YDSM provides sewing machines and other necessary supplies to the entrepreneurs.  Two buildings have been identified to be used by the women entrepreneurs for their tailoring operations. (3) Mydin Mohamed Berhad supplies fabrics and buys the finished goods from the entrepreneurs.  Essentially, the responsibility to sell the products to the consumers rest with Mydin Mohamed Holding Berhad. (4) ARI/UiTM as a research centre, coordinates the activities, provides fundamental training in financial management and financial reporting for the entrepreneurs and record pertinent information as research data.  At ARI, a specific research cluster, namely Islamic Microfinance Group has been set up to monitor progress and to measure impact of the program on the entrepreneurs' quality of life and socio-economic status.  In the long run, ARI hopes to replicate this initiative to other states in Malaysia.

Sunday, June 14, 2015

ARI-YDSM Miscrofinance Transformation Program

Today marks an important event in the history of Accounting Research Institute (ARI) when it signed a Memorandum of  Understanding with the Sultan Mizan Royal Foundation (YDSM) in Kuala Terengganu.  The MoU signing ceremony signifies a strategic collaboration between ARI  a Higher Institution's Centre of Excellence (HICoE) from Universiti Teknologi MARA (UiTM) to embark on a "Socio-Economy Transformation Program" (SETP).  Basically SETP is a pilot Islamic Microfinance program in Terengganu involving twenty  women enterpreneurs who are pursuing a Baju Kurung (Malaysian national dress) tailoring business.  The two transformation centres that
will undertake the pilot project in Terengganu are namely Paka Transformation Centre and Kuala Terengganu Transformation Centre. The MoU between UiTM and YDSM was signed respectively by the UiTM Vice Chancellor Tan Sri Dato' Seri Prof Ir Sahol Hamid Abu Bakar and Dato' Haji  Mohd Fadzil Yusof.  Meanwhile, Professor Dr Normah Omar and Prof Dr Abdul Rahman Hj Embong were witness signatories of the MoU. The Sultan of Terengganu, Sultan Mizan Zainal Abidin Bin Al-Marhum Sultan Mahmud Al-Muktafi Billah Shah witnessed the signing ceremony.   In a later separate event, the Vice Chancellor of UiTM, Tan Sri Sahol Hamid handed over garment materials supplied by Mydin Mohamed Holding Berhad to the Kuala Terenganu Transformation Centre through YDSM representative.