The importance to have a strong accounting profession is deemed significant of any capital market system....

 

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The importance to have a strong accounting profession is deemed significant of any capital market system. Accounting profession plays a significant role to enhance market confidence and serves the public interest (Yapa et al, 2017). As a result, the influence of the development of the legal framework within the accounting profession depends heavily upon confidence within the accountability process and how well the expected roles are being fulfilled (Sikka et al., 1998). In order for the accounting profession to meet its responsibilities as perceived by the public, there are various bodies and regulatory agencies has been set up by the Malaysian govemment. The regulation of the accounting profession and the financial and reporting environment in Malaysia is organized for ensuring a sound system of financial reporting towards good corporate governance (Azham et al., 2007). Hence, these various key players have demanding roles and functions to establish acts and standards for the accounting profession fulfil their obligations and safeguard the public interest. Dikehendaki/Required: i. Jelaskan peranan dan fungsi sekurang-kurangnya enam (6) pemain utama dalam Profesion Perakaunan dan Persekitaran Kewangan dan Pelaporan di Malaysia. Jelaskan pelbagai Piawaian / atau Akta yang telah ditubuhkan untuk mengawal selia profesion perakaunan di Malaysia. Describe the roles and functions of at least six (6) key players in the Accounting Profession and the Financial and Reporting Environment in Malaysia. Explain various Standards/and or Acts that have been established to regulate the accounting profession in Malaysia. (12 markah/marks) ii. Nyatakan dan jelaskan jenis perkhidmatan utama yang dilakukan CA (Chartered Accountant) State and explain major types of services that CAs (Chartered Accountant) can perform. The importance to have a strong accounting profession is deemed significant of any capital market system. Accounting profession plays a significant role to enhance market confidence and serves the public interest (Yapa et al, 2017). As a result, the influence of the development of the legal framework within the accounting profession depends heavily upon confidence within the accountability process and how well the expected roles are being fulfilled (Sikka et al., 1998). In order for the accounting profession to meet its responsibilities as perceived by the public, there are various bodies and regulatory agencies has been set up by the Malaysian govemment. The regulation of the accounting profession and the financial and reporting environment in Malaysia is organized for ensuring a sound system of financial reporting towards good corporate governance (Azham et al., 2007). Hence, these various key players have demanding roles and functions to establish acts and standards for the accounting profession fulfil their obligations and safeguard the public interest. Dikehendaki/Required: i. Jelaskan peranan dan fungsi sekurang-kurangnya enam (6) pemain utama dalam Profesion Perakaunan dan Persekitaran Kewangan dan Pelaporan di Malaysia. Jelaskan pelbagai Piawaian / atau Akta yang telah ditubuhkan untuk mengawal selia profesion perakaunan di Malaysia. Describe the roles and functions of at least six (6) key players in the Accounting Profession and the Financial and Reporting Environment in Malaysia. Explain various Standards/and or Acts that have been established to regulate the accounting profession in Malaysia. (12 markah/marks) ii. Nyatakan dan jelaskan jenis perkhidmatan utama yang dilakukan CA (Chartered Accountant) State and explain major types of services that CAs (Chartered Accountant) can perform.

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