Monday, August 31, 2015

Happy Independence Day

It's 58 years we got the independence from British. But now we are the slaves of the corrupted politicians.

Friday, August 28, 2015

10 Traits Every Great Accountant

  1. Excellent organization. Accountants must keep up with all figures, data, and paperwork in their daily jobs. They need a system for quickly finding information they need. Accountants should be able to organize their work to maximize productivity and allow time for undisturbed research and analysis.
  2. Killer time management skills. Today, accountants are playing an increasingly important role in contributing to strategic decision-making, so their schedules are full to the brim. They need to take care of many tasks beyond financial management and should be able to prioritize them to make the most from their time at work.
  3. Attention to detail. These traits are obviously key in the daily reality of accountants who need to make sure that numbers work and are correct. An eye for details and due diligence for accuracy should be part of their modus operandi, not something they need to be reminded of.
  4. Focus on the client. Being an accountant means not only dealing with numbers, but with clients as well. That's why accountants should have a strong orientation toward meeting client requirements – they need to understand the industry, sector, and client in detail. Only this helps them to decide which accounting rules or economic measures could fit the business. An accountant's advice is always of value and knowing their way around a sector is the best way to make it more relevant and actionable.
  5. Creativity. That's right – great accountants have creative minds as well. They're the ones who practice out-of-the-box thinking to come up with fresh solutions – some client problems aren't textbook cases and require special attention and a degree of creativity.
  6. Commitment to the sector. Accountants should commit themselves to a particular industry and be passionate about it. This is what makes them attractive hires – companies are looking for individuals for long-term employment and stop at nothing to motivate such talented accountants to join in. That's probably because replacing an accountant costs a lot of time and effort, seriously affecting the productivity of employees during the dreadful transition period.
  7. Extreme trustworthiness. The kind of information accountants deal with every day is very confidential in nature. One of the most important features of great accountants is that they're professional and never impart any knowledge to third parties. This is the ethical way to conduct an accounting business, and having a reputation for trustworthiness can only help in scoring great jobs.
  8. Great communication skills. Needless to say, accountants must be able to communicate and collaborate with colleagues from different departments. They should also be able to communicate key insights to nonfinance staff – accountants can use various data visualizations form to aid their communication effort and ensure that their insights are properly understood. Communication is also key to developing successful relationships with clients.
  9. Collaboration. This is something not many professionals expect. We've all cherished the idea of a lonesome accountant busy number-crunching in a small cubicle – but this image is completely inaccurate. In fact, accountants work in teams and provide support to different departments – that's why they should be able to efficiently impart their expertise to clients and decision-makers. They should feel what others need to know and support the goals of the team, working with different kinds of professionals and personalities.
  10. Flexibility. Accountants who are able to embrace challenges and effectively respond to changes in working environments make up for very valuable members of any organization. In the digital age, offices change at an accelerated pace and accountants must be able to adapt and take advantage of those alterations. A high degree of agility is also necessary for responding to regulatory changes in the industry – only then they can provide quality service.
Source :

My comments:

Item 1, 26,8,10 is really missing from what I have experienced with Junior auditors

Accounting firm became Law firm

The Society of Indian Law Firms (SILF) lodged a complaint in June against all the Big Four firms in India, which hasn't led to any legal action or proceeding so far.

There has been no development on the matter, SILF president Lalit Bhasin told The Accountant in an email, declining to comment further.

The complaint, seen by The Accountant, is requesting an end to the alleged engagements of the Big Four in unauthorised practice of law, as required by India's Advocates Act 1961.

SILF aims at preventing an alleged malpractice which sees accountancy and management firms employing law graduates who render legal services, as such in violation of the provisions of the Act.

It also reiterates a Supreme Court decision invalidating the provision which allowed chartered accountants to appear on behalf of a party before the National Tax Tribunal.

Among the legal arguments made by SILF is that only an advocate who is on the rolls of the State Bar Council is entitled to practise the profession of law. That includes both litigious and non-litigious matters.

Quoting a landmark court case, SILF highlighted that India's Bar Council oversight on non-litigation activities has been non-existent, creating a loop hole exploited by accountancy and management firms.


My comments:

Looks like these accountants are getting more creative. Giving legal advisory is fine so long they do not act on behalf in prosequition or as solicitors / advocators.

Furthermore, during liquidation and forensic assignmengts, we need someone with legal background to give advisory on the liquidation/investigation matters. Normally, we will engage the external lawyers.

Monday, August 24, 2015

Friday, August 21, 2015

Malaysia will not peg

Malaysian government has no intention to adopt a fixed exchange rate though ringgit has reached a historically low against the U.S. dollar, according to Malaysia's Second Finance Minister Ahmad Husni Mohamad Hanadzlah.

The minister said lately that the government predicts that ringgit will gradually be stable because the underlying fundamentals of Malaysia's economy remain sound.

Singapore dollar and Indonesia rupiah have also been facing the challenges of devaluation, he said.

He stressed that the public should take a positive attitude towards the hardship the country is facing in economic development.

Source : Xinhuanet

They don't want to peg is fine, but what are the measures taken to reduce the dollar rate? Are they going to suggest Malaysian's to buy Malaysian made products and support local agriculture etc, without realizing, the government has so much internal crisis to handle.

Tuesday, August 18, 2015

Friday, August 14, 2015

Malaysia is screwing up

RM2.6 billion came to Najib's account but he said it's political donation. If political donation, why don't you put it under Barisan Nasional or UMNO.

Even national police headquarters is not safe. one of the floor caught up in fire. It happened the next day of the cabinet restructuring. The IG Police said, the burnt files where unimportant files. Even 1MDB is unimportant for Barisan Nasional but it's damn important for the public. One of the policeman said, his colleague smoke and left the cigarette butt on the file, and it got burnt. First of all, how can you smoke inside a building, unless u are at the balcony. Next, a security force team is so careless of smoking in the office. Weren't they trained to be cautious?

The AG was replaced immediately after the cabinet reshuffle. The reason was, due to his health. Damn, if health reason, he wont even be able to speak to the press. Why it has to be very next moment. Looks like, the AG doesn't want to advocate about 1MDB, thus they want someone whom can speak for government and defend 1MDB scandal.

The Public Accounts Committee is represented by both opposition and Barisan Nasional. Nur Jazlan heads the team and he is a ACCA graduate and even vie for the corporate ACCA board. Probably due to his smartness (he really is), our PM worried that he will also go against government on 1MDB. Thus they removed him and gave him bribe by giving a ministerial position. Now the PAC is headless and investigation got stopped.

MIC had 2 minister slot. Now it became 1. PM just want to show other races and parties are his slaves. Furthermore, Subramaniam, whom is also puppet of Samy Vellu would have got advise that 1 castle should only have 1 king. So it became a single person controlling the party and ministerial post.

Charlie Hebdoo's cartoon

Charlie Hebdoo is known for controversial cartoons,

recently he drew a cartoon related to MH370, where a pair of hands bringing out 2 coconuts, which resembles breast of lady.

He is a believer where pencil is powerful than gun.

When people are condemn him for the drawings, it's actually our Malaysian whom created such stupid elements. We were the one whom hired bomoh and paid him million and they came with this funny kind of actions, which made the world laugh at us.

Thus, we can't merely blame Charlie, but we should blame our Najib and his brother Hishamuddin for approving such ideas.

Wednesday, August 12, 2015

Bumi Kenyalang

22 July is the Independence day for Sarawak. They also call it self government day.

Above is the logo of their government and which also resembles state flag.

They were granted the independence in 1963. few weeks later they joined Malaysia on 16 September. It's a state which is rich with natural resources and various ethnics (Iban, Melanau, Bidayuh, Orang Ulu, apart from Malays, Indian and Chinese).

Of course there are groups which is trying to bring the state out of Malaysia and make it as a independent state (country itself). One of the reason was also due to the political rights, where the local ethnics are not allowed to lead the state although they are also called Bumiputera.

being the largest state in Malaysia, it's one of the most back-warded state in terms of poverty. Now Najib has promised more for Sarawak by promising to build highway etc. Let's see how it goes.

Najib & his kabinet & 2.6billion

EPL has started

Tuesday Humor

Weekly Quotes

Friday, August 7, 2015

EY scrap educational barrier

In a bid to boost workplace diversity, Ernst and Young (EY) will choose which applicants to interview based on their performance in online tests.

School-leavers have until now needed the equivalent of three Bs at A-level and graduate applicants a 2:1 degree.

Qualifications "will no longer act as a barrier to getting a foot in the door," said Maggie Stilwell of EY.

EY has gone one step further by removing the requirement for a minimum degree classification for graduates and hiding all details of schools and universities from the recruiters until the very end of the process so that interviews are carried out "blind".

She said academic qualifications would remain an important part of the recruitment process as a whole but the firm's own research had found "screening students based on academic performance alone was too blunt an approach to recruitment".

Ms Stilwell added: "It found no evidence to conclude that previous success in higher education correlated with future success in subsequent professional qualifications undertaken.

"Instead, the research shows that there are positive correlations between certain strengths and success in future professional qualifications.

"Transforming our recruitment policy is intended to create a more even and fair playing field for all candidates, giving every applicant the opportunity to prove their abilities."
EY's UK recruitment leader, Dan Richards, said the firm wanted "to access the widest and deepest possible talent pools.

"We want to give every candidate the opportunity to demonstrate their strengths and their potential in our selection process," he explained.

Extracted from

My opinion:

With universities are mushrooming in Malaysia ans fake universities offering and selling degrees online, employers not able to gauge the quality of the student, merely based on paper qualification.

Unless, they are from ivy-league or top 40 business schools in the world, the rest still becomes aliens. Even a 3 pointer from public university could not take up the leadership and be proactive. Furthermore, they are still within their comfort zone and reluctant to put in effort to be better quality accountants.
One of my friend whom was engineer did a professional accounting qualification and now he is a senior manager in big 4 accounting firm. Sometimes, paper qualification is necessity but it's doesn't determine out destiny.

Thursday, August 6, 2015

Siti into Tamil song

We had Fauziah Latif singing tamil songs in 90s. Now we have Datuk Siti Nurhaliza who have ventured into tamil songs.We know Siti has already sung Chinese songs before for a album

There were several misunderstanding that Siti is singing for AR rahman. In actual fact, she is repeating/rerecording a song which was written/sung/composed by AR Rahman. Furthermore, the recording happens in KL and it was recorded and guided by one of the local music director.

Not to downgrade her singing talent, but to be able to sing for AR rahman as international singer, there's a special quality / X-Factor required, especially singing for Oscar winner.

Tuesday, August 4, 2015

Highest paid Prime Ministers

Singapore PM earns like a corporate CEO. No wonder this country has less corruption.

His salary was actually 50% higher 3 years ago, but went for pay due to economic downturn.

I wonder if our Malaysian politicians would do it. 

Status of Rohingyas

Succees may delay, but it will reach

Success is an iceberg

Tuesday Humor

Weekly Quotes