Friday, July 31, 2015

Dr Geeta Duppati's Visit to ARI

The Accounting Research Institute thanks Dr Geeta Duppati from Waikato University, Hamilton New Zealand for her one-day visit at ARI.  entrepreneurs in the economic sector. 
During her visit, she gave a lecture on Corporate Governance to our post graduate students.  In addition, she had research meeting and discussions with ARI fellows on topics related to corporate governance, state-owned enterprises and social businesses.  Dr Geeta also attended the Eid Mubarak do at the Menara Sultan Abdul Aziz Shah where she briefly met the vice chancellor.  Dr Geeta is planning to apply for an international grant to conduct an international study on financial inclusion of women SME in India, Malaysia, Indonesia and Ethiopia.  The project is a collaboration between University on Canberra (Australia), Waikato University, Universiti Teknologi MARA and Universitas Merdeka Malang, Indonesia.

Thursday, July 30, 2015

International Conference on Higher Education

One of the main focus of the conference relates to Higher Education in India.  With 1.3 billion population, India's higher education system is the third largest in the world, next to the United States and China. 
The main governing body at the 
tertiary level is the University Grants Commission, which enforces its standards, advises the government, and helps coordinate between the centre and the state. Accreditation for higher learning is overseen by 12 autonomous institutions established by the University Grants Commission.  In discussing higher education in India, four broad issues  that have been raised include the following.   
First, there is simply too much focus on quantity at present in India. Opening up of newer institutions is being done at
breakneck speed but the performance of the existing ones is not looked into and bettered. It requires careful educational planning and implementation for catering to the influx of burgeoning population at the same time providing them with a quality education.
Secondly, several curricula need to be updated in subjects where change happens quickly. The process of updating of curricula is something that needs to be done at a faster pace in subjects like engineering, sciences, etc.  Thirdly, there is the issue of faculty expertise, remuneration and community attitudes to an Indian faculty versus a foreign faculty. While it is true that some Indian
faculty to an extent are underperforming most in the top tier institutions are very capable, brilliant and comparable to faculty in any other place in the world.
 Finally, there is the issue of research in Indian higher education institutions and what is being done to better this over time. Collaboration with centers and research institutions abroad is much needed, and much talked about strategy for Indian universities. The most critical element here is funding and often universities are at the mercy of government for funding. Generally, all the issues being raised are universal in nature.  As an invited resource person for the conference, Prof Dr Normah Omar shares Malaysia's 10-shifts Educational Blueprint 2015-2025 as a possible higher education's transformation initiative that India could possibly emulate.

Wednesday, July 29, 2015

International Conference On Higher Education

A two-day  International Conference on “Creating a Sustainable Lens for Higher Education: The New Urgency” was organized by the Sambhram School of Management on July 29-30, 2015. The conference was sponsored by the All India Council for Technical Education (AICTE).  Following the opening ceremony by the Vice President Mr V, Nagaraj, the first day of the conference saw three plenary sessions and one parallel session. Invited resource persons have included  Professor Susanne Maria Weber, a professor of Social, Political and Cultural Conditions and Contexts of Education in international perspective at Philipps University of Marburg, Germany.  She is also an Adjunct Professor of the Global Education Program at the Centre of Global Studies in Education at the University of Waikato, Hamilton (New Zealand) and Professor S. Bisaliah, a former Vice Chancellor, University of Agricultural Sciences, Bangalore.  Both are world renowned speakers in the area of higher education.  The three ARI fellows have also been invited to present their research papers at the conference.  The conference registered about 100 participants from India, Sri Lanka, Germany, Russia and Malaysia.  Globally, it has been predicted that higher education in the future will need to include entrepreneurship element in its curricular beside optimising the usage of technology and online courseware for teaching and learning.


Tuesday, July 28, 2015

MoU Signing with Samhbram

A Memorandum of Understanding (MoU) has been signed today between Universiti Teknologi MARA (UiTM) and the Samhbram Group of Institutions.  Specifically, international collaborations in research, publication and staff exchange will be initiated by the Accounting Research Institute (ARI) and the Sambhram Academy of Management Studies (SAMS). Whilst ARI is Malaysia's Higher Institutions' National Centre of Excellence, SAMS is an educational initiative of the Sambhram Group. SAMS is located in the silicon city, Bangalore, a technology hub and home to many leading national and multinational corporations. The college is situated within the sprawling Sambhram campus. Set in an idyllic atmosphere rich in greenery, the campus is ideal for academic, research, cultural and sports activities. ISO 9001:2000 certified, SAMS is accredited by NAAC.  The MoU is signed by UiTM's Vice Chancellor (in absentia), Tan Sri Prof Ir Dr Sahol Hamid Abu Bakar and Samhbram's Vice President Mr V. Nagaraj.  SAMS Director Professor K.C Mishra and Professor Dr Normah Omar stood as witnesses for the MoU.  Earlier on, ARI fellows visited SAMS and had discussions with faculty members who are keen to participate in collaborative research projects with ARI in the areas of corporate governance, management accounting and financial criminology.

Monday, July 27, 2015

Networking Visit to Bangalore India

In its effort to enhance its internationalisation agenda, the Accounting Research Institute (ARI) is forging another international collaboration with an Indian Institute of Higher Learning.  Professor Dr Normah Omar, Associate Professor Dr Zuraidah Sanusi and Mr Khairul are on a five-day networking visit to the School of Management, Sambhram Group of Institutions in Bangalore, India.  Samhbram School of Management is an affiliate College of the University of Bangalore.  Taking its birth in response to the rising demands for professionally trained engineers, managers, technologists and health professionals, the Sambhram Group of Institutions have developed fast and feature a superlative infrastructure and a fine overall ambience for professional learning and personality development.  On the invitation of Professor Dr Mishra, the director of the School of Management, ARI fellows will be participating in an international conference to be held at the university.  In addition, a memorandum of understanding will be signed to signify research and publication collaboration between the two institutions.  

Tuesday, July 21, 2015

ISFIRE June 2015 Issue

The International Magazine - Islamic Finance Review or ISFIRE - a publication by EDBIZ Consulting (United Kingdom) in its latest issue will be featuring research programs at the Accounting Research Institute (ARI).  As a winner of Global Islamic Finance Award - GIFA 2014, ISFIRE showcases ARI's research projects in Islamic Financial Criminology which is indeed a pioneering research area in the Islamic Finance sector.  Another good news is that ARI has again been nominated as possible GIFA 2015 award recipient.  GIFA 2015 will be held in October 2015 in Khazakstan.

Postgraduate Application 2015

The second intake application for postgraduate programs at Universiti Teknologi MARA will be opened soon. Interested applicants can apply online.  The Accounting Research Institute will be offering four postgraduate programs by research.  They are namely Master by Research (Islamic Finance & Muamalat), Master by Research (Financial Criminology), Doctor of Philosophy (Islamic Finance & Muamalat) and Doctor of Philosophy (Financial Criminology).

Friday, July 17, 2015

Eid Mubarak

Members of the Accounting Research Institute (ARI) of Universiti Teknologi MARA send their Eid Mubarak wishes to all friends and followers.  Have an enjoyable holidays  everyone.

Friday, July 10, 2015

Researchable Topics in Islamic Financial Criminology

Financial Criminology
Islamic Finance & Muamalat
Camouflaged Fraud Detection
Islamic Finance Development

Money Laundering types, prevention & detection, rules & regulation
Financial Crisis and Islamic Finance
Auditor Specialisation & Fraudulent Financial Reporting
Maqasid al-Shariah in Financial Transactions
Fraud Detection and Prevention Models
Islamic Finance Instruments
Risk Management, Fraud risk indicators and red flags
Compliance on Corporate and Shariah Governance
Risk in Islamic Banks
Theory of Islamic Contract
Tax Fraud and Preventive Mechanisms
Shariah Compliance of Financial Products
Legislative Punishment in Financial Fraud
Shariah and Legal Issues
Combating corruption
Islamic Micro-financing
Existing level of legal requirement & policies on financial criminology in Malaysia, Australia, UK & US
Shariah Audit
White collar crime and the criminal justice system
Waqaf Management
Shariahs normative framework as to financial crime and abuse
Corporate Zakat Management
Integrity & Ethics
Zakat Investment
Whistleblowers regulation, policies & effectiveness
Sukuk and Securitization
Commercial crime and financial implications
Operational Risks, Shariah Compliance and Internal Control
Trade-Based Money Laundering
Islamic Social Enterprise Governance
Transfer Pricing Manipulation
Economic Transformation through Islamic Microfinance
Tax Planning, Tax Avoidance and Tax Evasion
Mitigating Terrorism Financing through Effective AML/CFT Regime
GST s a Mechanism to Mitigate Money Laundering
Islamic Philanthropy and its  Governance

Thursday, July 9, 2015

Post Graduate Programs at Accounting Research Institute (ARI)

Post Graduate Programs Offered at Accounting Research Institute, Universiti Teknologi MARA:

Master by Research:

  AC751 - Master by Research (Islamic Finance & Muamalat)
  AC752 - Master by Research (Financial Criminology)

Doctor of Philosophy:

  AC951 - Doctor of Philosophy (Islamic Finance & Muamalat)
  AC952 - Doctor of Philosophy (Financial Criminology)

Contact Persons:

1.  Deputy Director (Postgraduate & Innovation)
     Accounting Research Institute
     Universiti Teknologi MARA
     40450 Shah Alam, Selangor, MALAYSIA
     Tel. No. : +603 5543 7910/ 4920
       Email :

2.   Ms Azizah Hamzah
      Executive Officer

      Fax No.: +603 5544 4992

Wednesday, July 8, 2015

Visiting Professors at Accounting Research Institute (ARI)

The Accounting Research Institute (ARI) appoints international professors as part of its strategies to strengthen its niche research in Islamic Financial Criminology as well as in facilitating its post graduate programs.  To date ARI has appointed the following professors as its visiting professors:
(1) Professor Roger Willett, University of Tasmania, Australia
(2) Professor Milind Sathye, University of Canberra, Australia
(3) Professor R. K. Mishra, Institute of Public Enterprise, India
(4) Professor Sardar Islam, Victoria University, Australia
(5) Professor Stuart Locke, Waikato University, New Zealand
(6) Professor Paul Barnes, Macquarie University, Australia
(7) Professor Susumo Ueno, Konan University, Japan
(8) Professor Kabir Hassan, University of New Orleans, USA
(9) Professor Dr Takiah Iskandar, Universiti Kebangsaan Malaysia

In 2015 & 2016 we will appoint a few others.  Thank you all appointees for your dedication and hard work

Driving Post Graduate Research in Islamic Financial Criminology

As a Higher Institutions' Centre of Excellence (HICoE), the Accounting Research Institute (ARI) of Universiti Teknologi MARA Malaysia is to drive a niche research agenda in Islamic Financial Criminology (IFC). Essentially there are two main research thrusts within IFC: (i) Islamic Accounting & Muamalat and (ii) Financial Criminology.  The focus of IFC is in tandem with the government's aspiration of making Malaysia, the global hub in Islamic Finance. In view of this vision, fundamental research in financial criminology is important so that new policies or system can be developed to mitigate and prevent financial crime within the Islamic Finance industry and other economic sectors. To date, ARI offers four (4) post graduate programs by research.   They are namely (i) Master by Research in Islamic Finance and Muamalat, (ii) Doctor of Philosophy (Islamic Finance & Muamalat), (iii) Master by Research in Financial Criminology, and (iv) Doctor of Philosophy in Financial Criminology.  The post graduate research program in Islamic Finance & Muamalat provides rigorous training in specialised areas of Islamic finance, banking, economics, management and their relevant conventional counterparts. With Islamic financial institutions now operating in more than 75 countries worldwide, and working with brands with assets approaching US$2 trillion, Islamic finance has become an important influence on the worlds financial stage. 
ARI offers exclusive facilities for masters and research students choosing to specialise in Islamic finance.The course provides and examines insights into different aspects of the Islamic financial environment. It will enable you to focus upon advanced developments, not only in Islamic finance but also conventional finance. You will develop a specialised understanding of the techniques particular to Islamic and conventional finance, and develop the tools necessary to investigate relevant financial management issues. You will also develop a critical awareness of ethical and corporate social responsibility issues in Islamic and conventional finance. On top of this, the syllabus explores the key activities of Islamic banks and trends in Islamic portfolio management.  Meanwhile, post graduate research program in Financial Criminology is designed to provide a progressive, challenging and stimulating framework of study that will equip you with knowledge and skills in forensic accounting. Due to heightened awareness and growing intolerance of fraudulent activity, demand for Forensic Accountants is rapidly increasing.
Thus, forensic accounting and fraud investigation is one of the fastest growing areas of accounting, and there is an increasing global demand for specialists with forensic accounting knowledge and skills.  The course will help you develop an understanding of the need for an holistic approach in the investigatory models applied as well as focusing on an appreciation and understanding of the wide variety of financial crime and how the current regulatory framework and crime control statutes have developed to deal with them. Through examining features of corporate integrity and management control systems you will gain an understanding of the development and needs of corporate governance in the context of the control theories of the firm. 

Tuesday, July 7, 2015

Seminar on Forensic Accounting and Fraud Investigation

Today, the Malaysian Institute of Accountants (MIA) organized a 1-day Seminar on Forensic Accounting and Fraud Investigation in Kuala Lumpur.
Themed "Uncovering Global Trends in Corporate Crimes" the seminar was attended by accountants and forensic accountants from various agencies - government, private and practice.  The seminar is basically divided into six sessions namely (i) Combating Tax Evasion & Money Laundering, (ii) Creative Accounting, (iii) Cyber Crimes, (iv) Fraud Detection using Data Analytics, (v) Cross-border Internal Investigation and (vi) Presenting Complex Accounting Issues in Court.  Prof Dr Normah Omar, Director of the Accounting Research Institute (ARI) was invited to moderate the first plenary session titled "Combating Tax Evasion & Money Laundering: Tips for Forensic Accountants".  Basically tax evasion & money laundering are global problems which are growing exponentially,
It is imperative to combat tax evasion & omey laundering in order to be able to finance growth-enhancing public investment, ensure the health of public finances, and sustain long-term economic well being. As a reporting institution, accountants need to ensure that internal controls are in-placed and fraud risk assessments are conducted on regular basis.  The discussions also explore the relationship between tax evasion and money laundering in addition to the roles of accountants in distinguishing between legitimate tax planning, tax avoidance and tax evasion.  ARI congratulates the Malaysian Institute of Accountants for organising the event.

Thursday, July 2, 2015

Driving Social Transformation Program through Islamic Financial Criminology

Islamic Financial Criminology (IFC) is a pioneering research area introduced by the Accounting Research Institute (ARI) in 2010 when it was accorded the Higher Institutions’ Centre of Excellence (HICoE) status by the Ministry of Education Malaysia.  IFC then became the niche research agenda that ARI, as a HICoE needs to drive. 
The chosen niche research in IFC is in tandem with Malaysia’s vision to become a Global Islamic Finance Hub by 2020.  IFC as a concept encompasses two main domains namely Islamic Finance and Financial Criminology.  ARI believes that to develop a sustainable Islamic Finance Hub, Malaysia must continue introducing new Islamic finance products as well as be mindful of the potential risks of financial crimes that could retard the growth of the Islamic Finance sector.  When developing a sustainable Global Islamic Finance Hub, there are various strategic aspects that must be considered.  
Specifically for ARI, it focuses on three basic questions.  Firstly, what new Islamic finance products can it propose?. 
As a research institute, ARI is looking at products that could possibly contribute towards Malaysia’s aspiration to become a high income nation by 2020.  Through strategic collaborations with other industry players, ARI establishes three Islamic finance-based research clusters: (i) Islamic Microfinance, (ii) Islamic Social Enterprises and (iii) Corporate Waqaf.  New products developed from these research clusters will be able to potentially enhance the socio-economic stature and the quality of life of the Ummah. Secondly, how can the Islamic Finance sector mitigate financial leakages that could retard its development?.  Understandably leakages such as money laundering, tax evasion and financial fraud could dampen the growth of the Islamic Finance Hub for Malaysia.  To look at ways to mitigate financial leakages, ARI develops three financial criminology-based research clusters namely (i) Anti-money laundering, (ii) Financial Fraud and (iii) GST.  It is only by mitigating these financial leakages that sustainable development of the sector can be achieved. Thirdly, what steps are taken to promote the Islamic Finance globally?.  Any effort towards international agenda must start right here in Malaysia. 
As such, the first step undertaken by ARI was to establish strategic alliances with various related agencies such as Islamic banks, Zakat centres, Wakaf institutes, Religious councils, Islamic universities, JAKIM, IBFIM, Amanah Ikhtiar Malaysia (AIM), Islamic Foundations, Registry of Societies, Companies Commissions Malaysia, Bank Negara Malaysia, PDRM, RMC, IRB, SPRM and many others.  Next, collaborations are established at regional and international levels involving entities and agencies from various countries.  To date, ARI has signed Memorandum of Understanding with countries such as Indonesia, Singapore, Thailand, Philippines, India, Pakistan, Japan, Korea, Taiwan, China, Bangladesh, Turkey, Tunisia, Australia, New Zealand, United Kingdom and the United States of America.