QUESTION 1

Below is an information about Malaysian Institute of Accountants (MIA).

"Established under theAccountants Act 1967, MIA is the national accountancy body that regulates, develops, supports and enhances the integrity, status and interests of the profession in Malaysia. MIA accords the Chartered Accountant Malaysia or C.A. (M) designation to a professional in accountancy, business and finance with a recognised qualification and relevant work experience.

Working closely alongside businesses, MIA connects its membership to an unmatched range of information resources, events, professional development and networking opportunities. Presently, there are36,976members making their strides in businesses across all industries in Malaysia and around the world.

MIA's international outlook and connections are reflected in its membership of regional and international professional organisations such as theASEAN Federation of Accountants (AFA), and theInternational Federation of Accountants (IFAC)."

(Source: Discover MIA, Malaysian Institute of Accountants, retrieved from: https://www.mia.org.my/v2/discover-mia/discover-mia.aspx)

REQUIRED:

(a)Discuss how accounting history is important for the development of Malaysian accounting practices based on the above information.

(b)Explain how normative approach is applicable for MIA as a regulatory body of accounting profession?QUESTION 1

Below is an information about Malaysian Institute of Accountants (MIA).

"Established under theAccountants Act 1967, MIA is the national accountancy body that regulates, develops, supports and enhances the integrity, status and interests of the profession in Malaysia. MIA accords the Chartered Accountant Malaysia or C.A. (M) designation to a professional in accountancy, business and finance with a recognised qualification and relevant work experience.

Working closely alongside businesses, MIA connects its membership to an unmatched range of information resources, events, professional development and networking opportunities. Presently, there are36,976members making their strides in businesses across all industries in Malaysia and around the world.

MIA's international outlook and connections are reflected in its membership of regional and international professional organisations such as theASEAN Federation of Accountants (AFA), and theInternational Federation of Accountants (IFAC)."

(Source: Discover MIA, Malaysian Institute of Accountants, retrieved from: https://www.mia.org.my/v2/discover-mia/discover-mia.aspx)

REQUIRED:

(a)Discuss how accounting history is important for the development of Malaysian accounting practices based on the above information.

(b)Explain how normative approach is applicable for MIA as a regulatory body of accounting profession?