DIGITALISING CORPORATE GOVERNANCE: A PATH TO EXCELLENCE

Malaysian Institute of Accountants (MIA), in partnership with Wezmart Group and The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA), and with the support of MDEC, recently organized a thought-provoking event on “Digitalising Corporate Governance: A Path to Excellence.” Let's take a moment to recap the highlights from this impactful event!

Mr. Yee CM, CEO of Wezmart Group, shared enlightening statistics in his opening remarks. The digital economy contributed 23.2% (RM348 billion in 2021) to the nation's GDP, projected to reach 25.5% (RM382 billion in 2025). Professionals supporting SMEs play a crucial role in digital transformation and infrastructure development for advisory services. Challenges like revenue recognition and cross-border transactions highlight the significance of digital connectivity in fostering global collaboration and growth.

Ms. Carol Fung, Senior Manager of MDEC has emphasized that MDEC is actively working towards building a digital economy in the nation. She highlighted that the government is offering more grants and MDEC is recognizing the significant role of SMPs in shaping the future growth of the digital economy.

Notable guest speaker, Mr. Justin J Anthony, gave an opening speech on behalf of MAICSA. He highlighted the significance of digitalization in our daily lives, citing the iconic example of Kodak's market share loss to Sony due to the latter's digitalization of cameras.

Our esteemed panelists, including Mr. Steven Chong from MIA DTIC, Ms. Leong Oi Wah from MAICSA Education Committee, and Ms. Samantha Tai, CEO of BoardRoom Malaysia, shared valuable insights from their experiences. They highlighted the need for SMEs, particularly SMPs, to take baby steps towards digitalising their businesses. By doing so, professionals can allocate more time to client advisory work instead of being occupied with repetitive administrative tasks.

In the wrap-up, Mr. BC Ang, Chief Digital Officer of Wezmart Group, emphasized the importance of not neglecting the human element in the digital transformation process. Digitalizing professional corporate governance requires a periodic knowledge-building approach to incorporate into systems. BC Ang highlighted that the dream of professionals working anytime and anywhere with just a single tablet is now a reality, thanks to the bpoSA360 Digital Workspace for Corporate Services.

The event was a resounding success, igniting conversations about the immense benefits of digitalizing corporate governance. It emphasized the urgency for professionals to take advantage of digital opportunities, ensuring they remain at the forefront of the ever-evolving business landscape. Together, we can pave the path to excellence through digital transformations!