Towards contributing to the accountancy profession in Brunei, the UBD School of Business and Economics (UBDSBE) signed a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA) during the BICPA 30th Anniversary Dinner held on 5th May 2017 at the Tarindak d'Polo Restaurant, Royal Polo and Riding Club, Jerudong.
Signing on behalf of UBDSBE was Professor Ahmed Khalid, Dean of UBDSBE, while ACCA was represented by Ms Leong Soo Yee, Director, Asia-Pacific, of ACCA. Also present to witness the signing was the Guest of Honour, Yang Mulia Dato Dr Hj Mohd Amin Liew Abdullah, Deputy Minister of Finance, and Yang Mulia Datin Dr Dayang Hjh Anita Binurul Zahrina Pehin Orang Kaya Laila Wijaya Dato Seri Setia Hj Awang Abdul Aziz, Vice-Chancellor of Universiti Brunei Darussalam (UBD).
The MoU is aimed at promoting the sustainable development of the accountancy profession in Brunei by encouraging talented UBD students to enter the profession, by providing a tailored route to study for the ACCA professional qualification. By linking together, both institutions UBDSBE and ACCA also aims at promoting the high standards of professionalism and ethics into the accounting profession, such as through the accredited ACCA modules offered in UBD.
The MoU also paves the way for further collaboration between UBDSBE and ACCA to implement knowledge-based initiatives and activities such as seminars, information sessions and career fairs. This also includes sharing knowledge and information on evolving trends in accountancy, policy developments and published research.
The signing and anniversary dinner was part of the BICPA 30th Anniversary National Accounting Forum on 'Emerging Issues and Challenges for Accountants and SMEs' which was held on 6th May 2017 at Rizqun International Hotel, organised by BICPA and supported by UBDSBE. At the forum, Lecturer at UBDSBE Mohd Hairul Azrin Hj Besar and Deputy Dean (Academic and Administration) at UBDSBE were part of the panel discussions.
Prior to the MoU signing, UBDSBE had gained renewal of the ACCA accreditation of the UBD Accounting and Finance programme, where students will have the opportunity to gain exemption from nine ACCA papers by the end of their studies, which goes some way to become a chartered certified accountant with an ACCA professional qualification.
One of the notable collaborations between UBDSBE and ACCA in recent months is the ACCA Accelerate Programme initiative. In March 2017, the ACCA Accelerate programme was offered by ACCA to UBDSBE which provides financial benefits to current UBDSBE Accounting and Finance students in terms of reduced ACCA fees. It is hoped that this will encourage students to consider the ACCA Professional qualification once they finish their studies. About 30 Accounting and Finance students registered for the ACCA Accelerate programme in March.
UBD is one of the few academic institutions to gain the full nine-paper exemption from ACCA, and strives to work closer with the industry, professional associations and key institutes such as the Brunei Darussalam Institute of Certified Public Accountants (BICPA), in ensuring the availability of chartered certified accountants in Brunei.
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