ADGSOM1 & ADGMIN1  
       
  LAUNCH OF THE 50TH ANNIVERSARY CELEBRATION OF RUKUN NEGARA  
       
  KL SUMMIT 2019  
       
  HAWANA 2018  
       
  AES 2016  
       

 
 
 

March 29, 2024 -Friday

 
  MIA LAUNCHES CFO COMPETENCY FRAMEWORK TO ENHANCE CFOS IN PIES

Friday 20/07/2018



The accountancy regulator’s CFO Competency Framework provides guidance on the scope of work that CFOs in Public Interest Entities should focus on and the competency that is expected to go with it
 
KUALA LUMPUR, July 20 (Bernama) -- The role of the Chief Financial Officer (CFO), as the leader and senior person involved in the finance function of an organisation is very important to drive the organisation forward in achieving its goals. Whilst CFOs should maintain the stewardship role, particularly in financial management and compliance with regulatory requirements, there is growing expectations for CFOs to assume more of a leadership role in driving the business. As such, the Malaysian Institute of Accountants (MIA) has launched a CFO Competency Framework for Public Interest Entities that sets forth five key principles guiding the roles and expectations of a CFO and the six roles that represent the full breadth of the CFO’s remit.
 
“The CFO Competency Framework also seeks to enlighten those charged with governance (TCWG) and C-suite executives that a competent finance function led by a competent CFO can improve corporate governance and hence, strengthen reputation, public confidence and trust,” said MIA CEO Dr. Nurmazilah Dato’ Mahzan. “Furthermore, this Competency Framework can serve as a reference guide for companies, Audit Committees and CFOs in clarifying and delineating the scope of work that CFOs in PIEs could be doing and the competencies that are expected to go with it.”
 
To upskill CFOs adequately, the CFO Competency Framework recommends that CFOs undergo training in the following core areas to strengthen their competency. One, preparation of financial statements and external reporting in compliance with accounting standards and relevant laws and regulations as befits the local context. Two, competency in financial management, strategy development and execution, and communication with stakeholders.
 
The CFO Competency Framework was prepared by the MIA Technical Team with the guidance and support of its Professional Accountants in Business (PAIB) Committee and feedback from CFOs, Professional Accountancy Organisations, Regulators and Professional Accountants.
 

 
NOTE TO EDITOR:
About the Malaysian Institute of Accountants (MIA)
Established under the Accountants Act 1967, MIA is the national accountancy body that regulates, develops, supports and enhances the integrity, status and interests of the profession in Malaysia.  MIA accords the Chartered Accountant Malaysia or “C.A. (M)” designation. Working closely alongside businesses, MIA connects its membership to an unmatched range of information resources, events, professional development and networking opportunities.
 
Presently, there are more than 34,500 members making their strides in businesses across all industries in Malaysia and around the world.
 
MIA’s international outlook and connections are reflected in its membership of regional and international professional organisations such as the ASEAN Federation of Accountants (AFA) and the International Federation of Accountants (IFAC).  For more information on MIA, visit www.mia.org.my
 
SOURCE : Malaysian Institute of Accountants (MIA)

FOR MORE INFORMATION, PLEASE CONTACT:
MIA STRATEGIC COMMUNICATIONS & BRANDING UNIT
Tel: +603 27229000
Fax: +603 27229009
Email: communications@mia.org.my
 
Name : THANE MEYYAPPAN
Team Lead
Tel : +603 27229184 / +60122489534
 
Name : NURUL NADIRA
Executive
Tel : +603 27229185 / +60192619708
 
--BERNAMA 

 

 
 
 

Copyright © 2024 MREM . All rights reserved.