This morning I attended the #ACCA Roundtable on the Registration of Body Corporate as Public Practice Entities, where we dug into a topic that’s been overdue for years.

The discussion was lively, with different views flying around.

But… one thing was crystal clear—the profession must evolve if we want to stay relevant and protect our reputation.

Right now, 𝘁𝗵𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 𝗔𝗰𝘁 1967 𝗱𝗼𝗲𝘀𝗻’𝘁 𝗰𝗼𝘃𝗲𝗿 𝗯𝗼𝗱𝘆 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲.

This loophole has opened the door for unregulated entities to operate, and that’s risky.

There was also strong support for tightening the rules to tackle bogus accountants who hide behind corporate structures.

A lot of attendees agreed that regulating body corporates is necessary to maintain professional standards.

Now, 𝗯𝗲𝗳𝗼𝗿𝗲 𝗮𝗻𝘆𝗼𝗻𝗲 𝗮𝘀𝗸𝘀 𝗺𝗲 𝘄𝗵𝗮𝘁 𝗺𝘆 𝘄𝗶𝘀𝗵𝗹𝗶𝘀𝘁 𝗶𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗔𝗰𝘁—𝗱𝗼𝗻’𝘁 𝗮𝘀𝗸!

I’m a bit patang (superstitious) like an old uncle. Every time I back a team in the World Cup or Premier League, they end up losing. So, better not jinx this!

That said, it’s clear 𝘁𝗵𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 𝗔𝗰𝘁 1967 𝗵𝗮𝘀 𝘀𝗲𝗿𝘃𝗲𝗱 𝗶𝘁𝘀 𝘁𝗶𝗺𝗲, 𝗮𝗻𝗱 𝗶𝘁’𝘀 𝘁𝗶𝗺𝗲 𝗳𝗼𝗿 𝗮 𝗿𝗲𝗳𝗿𝗲𝘀𝗵. Malaysia needs to catch up with global standards to ensure our profession stays strong and sustainable.

Sure, there are still some debates about the details, but the goal is obvious—to strengthen public practice and boost accountability.

I’ll be keeping a close eye on how things unfold.