SE ASIAVOICEIssue 9

SE Asia launches Global ManagementAccounting Principles

Partnerships with local regulatory bodies---------------------------------------------------------------- 2015 CIMA syllabus takes off!----------------------------------------------------------------Continuing the employability theme

Dear

CIMAmembers and students

As we gear up to make 2015 another successful year for CIMA SE Asia, I would like to thank all of you for your great support in 2014 that allowed the SE Asia region to exceed its student recruitment target by 84%, the highest among the regions globally. We now have a total of 8000 members and students in SE Asia.

The last quarter of 2014 saw a number of important initiatives that will contribute to further growth in the region. The Memorandum of Agreement signed with the Malaysian Institute of Accountants and the Institute of Indonesia Chartered Accountants will enable members of both institutes to fast track to CIMA membership and the CGMA designation. A similar arrangement is being finalised with the Institute of Singapore Chartered Accountants. We also established new partnerships with SAA Global Education and Manchester Business School in Singapore, Kasetsart University in Thailand and the Office of the Auditor General of the Union Myanmar.

The updated CIMA syllabus took effect from 1 January 2015. For the first time, all CIMA exams are computer-based, giving great flexibility for students to sit for exams whenever they are ready. Students can now join CIMAConnect, the new online community platform where they can have all their news feed, friends, messages and study resources in one place.

Besides the 2015 syllabus, another important milestone for CIMA is the development of the Global Management Accounting Principles that will entrench the Management Accounting function as essential for long term business success. We launched the Principles in several countries in SE Asia in late 2014. More importantly, the Principles have received endorsement from the Myanmar Institute of Certified Public Accountants and the Institute of Indonesia Chartered Accountants. It has also received the support of local regulatory bodies in Malaysia and Singapore. With a robust management accounting function in place, companies will find it easier to embed integrated thinking and benefit from integrated reporting (IR). Moving forward, CIMA SE Asia will be promoting the Principles and IR as tools for business sustainability.

We advise members to take note of the updated CIMA Code of Ethics and the new Code of Ethics for CGMAs that came into effect in January 2015. You may learn more about the Codes at the respective CIMA and CGMA websites.

Once again, we are organising a dinner in honour of Keith Luck, President of CIMA, who will be visiting Singapore and Malaysia in March. Look out for the President’s Dinner invitation! Remember also to participate in the CIMA Global Business Challenge and National Award for Management Accounting (NAfMA). NAfMA will soon be open for nominations.

Till our next newsletter in May, all the best for a great year in 2015!

With best wishes,

Irene TengRegional DirectorSouth East Asia and Australasia

CIMA Singapore launched the Global Management Accounting Principles on 27 October 2014 at the Ritz Carlton Hotel, in the presence of 50 C-suite industry leaders and professionals. Andrew Harding, Managing Director of CIMA, was a keynote speaker at the launch that included a panel discussion on the Principles. The panellists included Ash Noah, Vice President of External Relations for Management Accounting of AICPA, Uantchern Loh, CEO of the Singapore Accountancy Commission and Chris Hill, CEO of Black Sun. The supporting partners for the launch were the Singapore Accountancy Commission, Institute of Singapore Chartered Accountants and the British Chamber of Commerce and Industry.

In Malaysia, the launch of the Principles took place on 4 November 2014 at the MIA International Conference. Andrew Harding was the keynote speaker and he also moderated a panel discussion on the Principles. In Indonesia, the launch of the principles was held in conjunction with the IAI XII National Congress on 17 December 2014.

Soft launches of the Principles took place in Thailand and Myanmar, principally through roundtables for academics and through CFO Forums for business leaders. Dr Noel Tagoe, Executive Director of Education, presented a talk on the Principles and how companies can adopt these useful principles.

The Global Management Accounting Principles have received endorsement from the Myanmar Institute of Certified Public Accountants (MICPA) and the Indonesian Institute of Accountants.

Launch of the Global Management Accounting Principles in Singapore.

Datuk Johan Idris (left), President of the Malaysian Institute of Accountants and Andrew Harding (right), Managing Director of CIMA, at the launch of the Global Management Accounting Principles in Kuala Lumpur.

Launch of the Global Management Accounting Principles in Indonesia. From left: Venkkat Ramanan, Head of CIMA SE Asia; Prof. Sidharta Utama, National Council Member, IAI;Michael Yii, CIMA’s Country Manager of Indonesia.

The Principles were launched during a Finance Leaders Dialogue in Myanmar. Venkkat Ramanan (left), Head of CIMA SE Asia, moderating a panel discussion during the dialogue.

Venkkat Ramanan (right), Head of CIMA SE Asia, speaking at the CFO Forum held in conjunction with the launch of the Global Management Accounting Principles in Thailand.

SE Asia launches Global Management Accounting Principles

Fast track route forIAI Chartered AccountantsIn a Memorandum of Agreement signed between CIMA and the Institute of Indonesia Chartered Accountants (IAI) on 12 November 2014 in Rome, Italy, Chartered Accountants from IAI will be able to fast track to the CIMA professional qualification and earn two global designations – ACMA and CGMA.

CIMA and IAI are offering two programmes: • CIMA-IAI Strategic Leaders Programme • CIMA-IAI Strategic Professional Programme

The Strategic Leaders Programme is for good standing members of IAI who have more than ten years of relevant work experience. They will only need to complete one exam i.e. the Strategic case study exam.

The Strategic Professional Programme is for those with less than 10 years of work experience. They will need to complete four exams - E3, P3, F3 and Strategic case study.

The application deadline is 31 March 2015. For details on the programmes, please visit www.cimaglobal.com/indonesia

Keith Luck (left), President of CIMA, exchanging the signed document with Dr Khomsiyah, National Council Member of IAI.

Keith Luck (2nd from left), President of CIMA,and Datuk Johan Idris (3rd from left), President of MIA, exchanging the signed documents. Looking on are Irene Teng (left), Regional Director of South East Asia and Australasiaand Ho Foong Moi (right), Chief Executive Officer of MIA.

In a Memorandum of Agreement signed between CIMA and the Malaysian Institute of Accountants (MIA) on 12 November 2014, both institutes have committed to work together to increase the number of professionally qualified accountants in Malaysia.

There are two fast track routes to the CIMA professional qualification for MIA members admitted under Part 1 and Part 2 of the First Schedule to the Accountants Act 1967. Members who have 10 years of relevant work experience will need to complete only one exam while those who have less

than ten years experience will need to complete four exams.

Relevant work experience refers to the practical experience requirements specified by CIMA in obtaining CIMA membership and the Chartered Global Management Accountant (CGMA) designation.

Increasing number of professionally qualified accountants

NAfMA is proud to receive Public Bank’s sponsorship for a period of five years, starting from 2014. Public Bank has been the Main Sponsor since the inception of NAfMA in 2004.

Tan Sri Dato’ Sri Tay Ah Lek Managing Director/Chief Executive Officer of Public

Bank presented the mock cheque to NAfMA last October in a simple ceremony at its headquarters in Kuala Lumpur.

NAfMA 2015 will be open for nominations soon.

View updates atwww.nafma.my

Left to right: Choong Kok Leong, Regional Marketing Manager, CIMA; Siew Wai San, Director for Member Development & Education, MIA; Dr Ng Boon Beng, Deputy Chairman of Malaysia Country Branch, CIMA; Tan Sri Dato’ Sri Tay Ah Lek Managing Director/Chief Executive Officer Public Bank; Yeo Tek Ling, MIA Council Member; Quah Poh Keat, Deputy CEO Public Bank and Iszudin Md Amin, Head of Corporate Communications, MIA.

Public Bank sponsors NAfMA

Andrew Harding (right), Managing Director of CIMA, with Malaysia’s Prime Minister, Datuk Seri Najib Abdul Razak, at the CGMA booth.

The outstanding CGMA booth at the MIA International Accountants Conference.

The CGMA booth at the IAI XII National Congress.

CGMA was the diamond sponsor of the International Accountants Conference organised by the Malaysian Institute of Accountants on 4-5 November 2014. It was a tremendous opportunity for us to showcase the designation throughout the conference via CGMA logo displays, videos and speaking slots at plenary sessions. The CGMA booth at the exhibition hall attracted enquiries on the designation, CIMA qualification and membership, and the CFO Programme.

In Indonesia, CGMA was the platinum sponsor of the IAI XII National Congress held on 17-19 December. More than 1000 delegates attended this congress. We also took the opportunity to officially launch the Global Management Accounting Principles at both conferences.

Showcasing the CGMA designation inSE Asia

CIMA and the AICPA were proud to be the imperial sponsors of the World Congress of Accountants (WCOA), under the CGMA banner. The congress attracted over 4,000 delegates to the Auditorium Parco della Musica in Rome, Italy, on 10-13 November 2014.

The CGMA brand was represented throughout the venue on stands, posters, a 3D printer, and a special interactive wall promoting the designation. The Global Management Accounting Principles were also profiled throughout the event.

CIMA also launched its pioneering research exploring the new trends that are shaping the future of business, in a report called, ‘New Ways of Working: Managing the Open Workforce’. It is part of a series of resources released for the event that included: • Integrated Thinking: the next step in integrated reporting • Ethical Performance: driving value from an ethical culture • Big Data - Readying business for big data

These resources are available at: http://www.cgma.org/Resources/Reports/Pages/WCOA.aspx

Charles Tilley, Chief Executive of CIMA, speaking at the opening ceremony of the World Congress of Accountants.

Charles Tilley (right), Chief Executive of CIMA and Barry Melancon (left), President and CEO of American Institute of CPAs at the CGMA interactive booth.

Keith Luck (left), President of CIMA, congratulating Datuk Johan Idris, President of MIA, after presenting the CIMA membership and CGMA certificates to him, during a dinner held in conjunction with the World Congress of Accountants.

CGMA gains prominence at the World Congress of Accountants

Continuing the employability themeFollowing roundtables held in several countries in SE Asia in 2014, country-specific reports have been published on the insights gained from industry leaders on the issue of graduate employability, the needs of employers and the role of academia in producing employable graduates. Malaysia’s report was launched on 8 September while the launch in Vietnam took place on 13 November. In Myanmar and Thailand, the reports were distributed at events held for the academia and during CFO Forums held there.

In Singapore, the employability roundtable was held on 11 November, an event sponsored by VISA and attended by a diverse group from different industries. The findings will be released in due course.

Launch of the employability report in Vietnam.

Launch of the employability report in Myanmar at the Finance Leaders Dialogue on 10 December 2014.

Employability roundtable in Singapore.

CIMA has updated its Code of Ethics for Professional Accountants. A summary of the changes can be found at http://www.cimaglobal.com/Professional-ethics/Ethics /CIMA-code-of-ethics-for-professional-accountants/ Working with the AICPA, CIMA has also created the Code of Ethics for Chartered Global Management Accountants. This non-authoritative guidance provides a robust and uniform standard of behaviour applicable to all CGMAs worldwide. The Code of ethics for CGMAs is identical to Part C in the CIMA Code of Ethics. Therefore compliance to the CIMA code ensures compliance with the Code for CGMAs. CIMA has also produced an Ethics Support Guide that lists all the ethics resources for members and students. View this useful guide at www.cimaglobal.com/Professional-ethics/Ethics/Responsible-business/Ethics-Support-Guide/

ETHICS SUPPORT GUIDE

November 2014

08 Fall

CONTENTS 1 CIMA ethics | 2 The ethics microsite | 3 Ethics resources | 4 CIMA ethics reports | 5 CGMA resources | 6 Using the training tools and resources

Changes to the CIMA Code of Ethics

CIMA and OAG seal partnershipIn a breakthrough into the public sector in Myanmar, senior accountants of the Office of the Auditor General of the Union (OAG) will be pursuing the CIMA-MICPA CFO Programme where they will only sit for the last paper of the CIMA professional qualification. Once they pass this paper and upon successful CIMA membership application, they will become members of CIMA and obtain two globally recognised designations – ACMA and CGMA. This was made possible with the signing of a Memorandum of Understanding (MOU) with the OAG on 10 December 2014.

The MOU also provides for collaboration in training and research, promotion of management accounting in Myanmar and the organisation of roundtables and symposia with the Myanmar Institute of Certified Public Accountants (MICPA).

Daw Khin San Oo (right), Director General, Administration, Training and Research Department, signing the MOU on behalf of the OAG, and Irene Teng (2nd from left),

Regional Director of South East Asia and Australasia, signing on behalf of CIMA.

We celebrate the superb achievements of our CIMA students in the region.

Thida Oo and Phyu Lyinn Kyaw of Myanmar passed the CIMA Professional Gateway exam with flying colours and beat students around the world to clinch the first and third placings. They will now proceed to complete the final four

papers of the CIMA Professional Qualification. Thida’s secret to success is to regularly attend lectures, study consistently, practise past exam questions, sit for mock exams and have a dedicated study time.

In Indonesia, Albert Ateng from Shell achieved ninth placing in the F1 (Financial Operations) paper and ranked No. 1 in South East Asia and Indonesia. Albert’s secret to

success is to read through the course notes, view lecture videos, practise past exam questions and follow a well-planned study schedule. He said: ‘When you try and relate what you learn to your daily work and see from various angles how they apply, the easier it becomes to remember and retain the knowledge.’

Mohd Tahir Kader Mohideen of Malaysia clinched the world’s seventh placing for the T4 case study exam and ranked No. 1 in South East Asia and Malaysia. He is a candidate of the CIMA CFO Programme that allows eligible participants to complete the CIMA Professional Qualification by sitting only for the Strategic Case Study exam. More details of the CFO programme are available at www.cimaglobal.com/Our-locations/Malaysia/

Congratulations to all of them and we look forward to welcoming them as CIMA members and Chartered Global Management Accountants (CGMAs) in the near future.

Congratulations, CIMA world prize winners!

Changes to the CIMA Code of Ethics

2015 CIMA Syllabus takes offThe 2015 CIMA syllabus has taken off with students around the world sitting for their computer-based exams at Pearson Vue test centres from 1 January 2015. The new assessment method allows CIMA exams to be available all year round instead of the traditional two exam diets in May and November.

At the professional level, there are nine objective tests and three case study exams. While the objective tests are available all year round, the case study exams are available four times a year. Students can schedule their exams via their MYCIMA account.

Check out the following useful links:2015 syllabus – www.cimaglobal.com/syllabus20152015 assessments – www.cimaglobal.com/2015assessmentsPractice exams - www.cimaglobal.com/practice-examsFrequently asked questions - www.cimaglobal.com/2015FAQsBook a 2015 assessment - www.cimaglobal.com/bookexamExam resources and information - www.cimaglobal.com/Students/Exam-resources-and-information/

CIMAconnect – supporting CIMA studentsLaunched on 3 November 2014, CIMAconnect is the new online community platform that aims to support CIMA students through their studies.

Students can access these features:• Personalised homepage: Have all your news feed, friends, messages and study resources in one place!• Free, relevant resources: study guides, reports, videos and more, tailored to your level of study.• ‘Like’ ‘Follow’ ‘Recommend’: Get to know your peers around the world. Share experience and exchange study tips.• Get recognised for your achievement: Earn a progression badge as you complete each exam and level.• Study on the go: The mobile friendly design will work perfectly on your devices. Study and network with other students while going about your busy routine.

Join CIMAconnect today at https://connect.cimaglobal.com/

Research grants from COEResearch grants of up to £10,000 from the CIMA Centre of Excellence (COE) South East Asia are now available to successful applicants from the SE Asia region. The research proposals should be of value to both business and academic audiences and should cover one of the following research areas: • Value leadership • Sustainability and innovation management • Performance and risk management • ASEAN Economic Community

The closing date for applications is 30 June 2015. For more details on the research areas and to apply for the research grants, please visit: http://www.cimaglobal.com/Our-locations/Malaysia/South-East-Asia-centre-of-excellence/

Bachelor of Accountancy students from Kasetsart University Business School in Thailand will be able to obtain an additional CIMA Diploma in Management Accounting, under a Memorandum of Agreement (MOA) signed with CIMA on 2 December 2014. These students will only be required to sit for the Operational Case Study exam during their final year of study.

In Singapore, we renewed our partnerships with Singapore Institute of Management on 27 October 2014 and with Singapore Polytechnic on 28 October 2014. Diploma in Accounting students from these two institutes will graduate with an additional CIMA Diploma in Management Accounting by sitting for one or two CIMA papers during their final semester.

New partnerships were forged with Manchester Business School and SAA Global Education in Singapore. Under the MOU with Manchester Business School signed on 28 October 2014, students of the MBS Global MBA programme can sit for CIMA’s gateway assessment in their last semester and then proceed to the Strategic level of the CIMA qualification. CIMA members who wish to pursue the MBS Global MBA programme will receive a special discount. The special rate is also offered conditionally to exam complete students who have filed for CIMA membership.

In the MOU signed with SAA Global Education on 25 November 2014, candidates of the CFO Programme in Singapore will be able to obtain CIMA tuition at SAA.

At the signing ceremony in Bangkok, Thailand.From left: Venkkat Ramanan, Head of CIMA SE Asia; Irene Teng, Regional Director, South East Asia and Australasia, CIMA; Assoc. Prof. Sasivimol Meeampol, Dean, Faculty of Business Administration, Kasetsart University; Assoc. Prof. Paiboon Pajongwong, Head, Department of Accounting, Kasetsart University.

At the signing ceremony with the Singapore Institute of Management (SIM). Andrew Harding, Managing Director of CIMA and Dr Lee Kwok Cheong, CEO of SIM, are seen holding the signed documents.

Gregory Lim (left), Acting Managing Director of SAA Global Education exchanging the signed MOU with Irene Teng, Regional Director, South East Asia and Australasia, CIMA.

Strengthening university partnerships in Thailand and Singapore

Register now for GBC 2015

Want to win an all expenses paid trip to Warsaw, Poland, and have an experience of your lifetime?Want to meet some of the top global employers in the world of business to kick-start your future career?And network with like-minded future business leaders from all over the world and make lifelong friends?

If you answer ‘YES’ to all these three questions, then the CIMA Global Business Challenge (GBC) is for you!

Join the GBC now and find out what a difference it can make to your future career. The GBC is an international business competition for undergraduates around the world. You will work in teams of four to provide solutions and recommendations on a business case study. Your submissions will be judged by an international team of top business leaders.

Check out the GBC Facebook at www.facebook.com/cimagbc or visit www.cimaglobal.com/gbc for more details on the competition.

Callingall

students!