Malaysia to produce more than 1,000 accountants annually - Wahid Omar

Malaysia will produce more than 1,000 accountants annually through a training programme conducted by the Malaysia Professional Accounting Centre (MyPAC), said Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar.

He said the focus would be on producing more Bumiputera accountants.

"Currently, we only have about eight percent Bumiputera accountants, and the number has to be increased to 15 to 25 percent from the total 60,000 accountants expected by 2020," he told reporters after closing the ASEAN Conference on Accounting Education (ACAE) 2015 here, yesterday.

He said the audit sector needed more professional accountants to act as auditors, besides the corporate and banking industries.

"All companies have to be audited and currently, the country only has 32,000 registered accountants.

"From the total, only about 19,000 are accountants of professional standards," he added.