A Review of Scholarly Discourses on Accounting Technical Skills for IR 4.0

With advancements in information technology and large-scale globalization of economies in the previous decade, the working landscape of professional accountants has changed. This study looked into how academia should react to the demand from the industry that graduates in accounting have higher-level technological skills applicable to an IR 4.0 workplace. The study performed a cross-sectional analysis of scholarly discourses in journal editorials and commentary sections. The first finding showed that Big Data and Disruptive Technologies could change the structure of the finance department from pyramidal to either diamond or pillar-shaped. Secondly, accounting graduates need technical skills in information systems, data analytics, and associated software tools. Lastly, it is recommended that Advanced Data Analytics course should be taught to university accounting students so that they are able to interpret other departments’ data science results. This study contributes to the perceived gap in the accounting curriculum as reported in professional and scholarly publications

Kuala Kedah ke arah destinasi pelancongan warisan: Satu perspektif awalan

Warisan telah menjadi semakin penting kepada pelancong pada hari ini.Di kebanyakan tempat di seluruh dunia, warisan dikategorikan sebagai salah satu kornponen utama dalarn pembangunan pelancongan terutamanya apabila ia digabungkan dengan aktiviti pelancongan dan rekreasi.Pada masa sekarang, dapat dilihat bahawa aktiviti perjalanan mengunjungi destinasi berteraskan warisan telah berkembang dengan pesat.Memandangkan potensi pelancongan berteraskan warisan adalah arnat besar, Kuala Kedah sebagai sebuah pekan nelayan yang amat sinonim dengan sejarah Kesultanan Kedah yang lampau seharusnya mengambil kesempatan ini untuk membangun sebagai sebuah destinasi pelancongan warisan. Justeru, kertas konseptual ini akan mengupas dan memberi penjelasan tentang aspek-aspek seperti definisi dan konsep warisan, pelancongan warisan, interaksi dinamik antara pelancongan dan pemuliharaan, dan ancaman pelancongan terhadap warisan budaya sebelum membincangkan potensi dan peluang yang terdapat pada Kuala Kedah untuk membangun menjadi sebuah destinasi warisan yang menarik dan berjaya. Di akhir kertas konseptual ini, beberapa cadangan akan dikeutarakan bagi membantu Kuala Kedah merancang dan membangunkan pelancongan dalam konteks yang lebih berkesan dan sempurna

Membangunkan Kuala Kedah sebagai destinasi pelancongan warisan: Penerapan konsep pembangunan pelancongan lestari

Di kebanyakan tempat di dunia, warisan yang telah menjadi semakin penting kepada pelancong pada hari ini, dikategorikan sebagai salah satu komponen utama dalam pembangunan pelancongan terutamanya apabila ia digabungkan dengan aktiviti pelancongan dan rekreasi. Malahan, aktiviti perjalanan mengunjungi destinasi berteraskan warisan telah berkembang dengan pesat.Dengan potensi pelancongan berteraskan warisan yang agak besar, Kuala Kedah sebagai sebuah pekan nelayan yang amat sinonim dengan sejarah Kesultanan Kedah yang lampau seharusnya mengambil kesempatan ini untuk membangun sebagai sebuah destinasi pelancongan warisan.Melalui kertas konseptual ini, aspek-aspek seperti definisi dan konsep warisan,pelancongan warisan, interaksi dinamik antara pelancongan dan pemuliharaan, dan ancaman pelancongan terhadap warisan budaya akan dibincang dan diperjelaskan.Potensi dan peluang yang terdapat pada Kuala Kedah untuk membangun menjadi sebuah destinasi warisan yang menarik dan berjaya juga akan dibincangkan dengan memberi penekanan terhadap konsep dan amalan pembangunan pelancongan lestari.Pendekatan pembangunan pelancongan lestari bagi setiap perancangan pelancongan adalah amat diperlukan kerana sekiranya sumber-sumber pelancongan dimusnah atau dimansuhkan, maka sesebuah kawasan atau destinasi pelancongan itu tidak boleh lagi menarik pelancong dan akhimya pelancongan di kawasan berkenaan akan gagal.Ianya juga adalah penting terutamanya bagi penduduk setempat supaya tidak 'menderita' akibat daripada kemusnahan persekitaran dan masalah-masalah lain yang ditimbulkan akibat aktiviti pelancongan yang tidak terkawal. Melalui kertas konseptual ini juga, aspek-aspek yang berkaitan seperti definisi, konsep dan perkembangan pelancongan lestari, pembangunan pelancongan lestari positif, pendekatan konseptual, prinsip pelancongan lestari dan pengurusan pembangunan pelancongan lestari akan turut dibincangkan

THE VERACITY OF THE ERM IMPLEMENTATION: AN INTERNAL AUDITING PERSPECTIVE

The internal audit profession has become a focal point after the collapse of various giant corporations. The primary research objective of the study is to investigate the extent of the internal auditors’ roles in the implementation of the Enterprise Risk Management (ERM). The primary data collection was through a questionnaire survey. The results of the hierarchical multiple regressions indicated that the degree of the internal auditors’ roles in the ERM could strengthen the relationship between the internal audit effectiveness and ERM implementation. The nature of the internal auditors’ involvement in the ERM implementation was consistent with the recommendations in the position paper on the role of internal auditors in the ERMInternal Audit Practices, Professional Practice Framework, ERM, Internal auditing, COSO ERM Framework

THE APPLICATION OF BENEFICIAL OWNERSHIP IN ASSET-BASED SUKUK: A SHARIÑAH ANALYSIS

There are two categories of sukuk namely Asset-based and Asset-backed sukuk. Assed-based sukuk is a sukuk whereby the existence of an underlying asset is sold to the investors only to facilitate the issuance of sukuk. Whereas in asset-backed sukuk, the asset is not merely used as a tool to facilitate the issuance but it is really transferred to the investor via a true sale transaction. However, in asset-based sukuk issuance, the transfer of asset to the investor is not a true sale. In simple word, only beneficial ownership is transferred to the investor while the legal title remains with the originator. The practice is seemed not to be persistent with the Shariah principle that requires the complete transfer of ownership to the buyer. In Islamic law, the ownership will determine the obligation of the owner toward his property. For example, a lessor is liable for the impairment of his property because he is the legal owner of the property while the lessee is not responsible for it because the lessee only owns the beneficial right of the property. Hence, this study is very important to determine the status of the transfer of beneficial ownership in asset-based sukuk whether it is compliant with Shariah or not? The status is vital because the result will lead to the different consequences especially with regard to the sukuk holder whether he is liable for the underlying asset or not

Kuala Kedah towards a heritage tourism destination: A preliminary perspective

At present heritage is generally an important aspect for many tourists.In many parts of the world, heritage is categorized and recognized as one of the vital components of tourism development especially when it is linked to tourism and recreational activities.Nowadays, there is increasing evidence that traveling to a destination rich- in- heritage is gaining more popularity and becoming a growing trend. Due to greater potential of heritage-based tourism all over the world Kuala Kedah, which is known as a fishermen village and very synonymous to the history of Kedah's Sultanate, should take the opportunity to be developed as a destination for heritage tourism.Therefore, this conceptual paper will unwrap and explain aspects such as definition and concept of heritage, heritage tourism, dynamic interaction between tourism and sustainability and threat of tourism to cultural heritage before discussing some potentials and opportunities in developing Kuala Kedah as an attractive and successful destination for heritage tourism.At the end of this paper, some recommendations will be proposed to help Kuala Kedah plan and develop a more efficient and ideal tourism

Difficulties in Conducting Short Horizon Event Studies: Call for Further Research

The wide variety of applications and the richness of data available have made event studies commonplace in economic, finance, and accounting research. The strength of the event study methodology is that abnormal returns due to a firm-specific, but time independent event may be precisely estimated by aggregating results over many firms experiencing a similar event at different times. The case study examines whether Malaysian GLC’s headline KPI announcements over the transformation period FY 2005-2014 resulted in significant abnormal stock returns. A pilot study using three-factor model of [4] showed that virtually all the significant abnormal stock returns were recorded in the first month following the announcement (short market reaction, i.e. short horizon).  However, since the company book values used in computing the HML proxy factor is only available at month-ends, the [4] model cannot be used for this short horizon study; even though R-squared increased due to additional proxy factors besides company beta, namely company size and growth. Thus, the actual study had to be conducted using a one-factor Short Horizon Event Study - the risk factor (beta) for each security is obtained through regression and then used to predict daily stock returns, and subsequently the abnormal returns, over a short horizon of 30 days’ post-announcement date.  Company size factor was controlled by grouping the securities according to small, medium, and large securities. Results showed that small and large securities consistently recorded abnormal stock returns. Overall, the study has demonstrated that over a short horizon, the stock value of GLCs can be increased through headline KPI announcements, thus reinforcing the signalling and agency theories. The more important contribution of this research is that it has highlighted deficiencies in the current model to study short horizon events, which hopefully will encourage more rigorous future research

Determination Of Had Kifayah Zakat Among Pre-Graduate Students at Universiti Sains Islam Malaysia (Usim)

This research was supported by Pusat Wakaf dan Zakat, Universiti Sains Islam Malaysia under grant no PPPI/KHAS_PWZ/FSU/051007/15319.Had Kifayah refers to a minimum basic necessity rate set based on the current cost of living. The objective of this paper is to determine the current Had Kifayah for asnaf candidates focusing more on USIM Pre-Graduate students as the target group. The research method used are the qualitative and quantitative which apart from referring to existing writing and references, a survey was conducted to obtain the latest data from asnaf students through previous databases. The survey has been conducted via online instead one to one interview due to Covid-19 pandemic. Through a survey that covers aspects of student spending and income, the average of spending method has been used as per agreed with all team members to determine the Had Kifayah, in line with the method used by the state Islamic religious council as a reference. With the improvements made in the agreed calculation system, a more accurate calculation method has been developed and at the same time can help the process of proper distribution of zakat.Pusat Wakaf dan Zakat, Universiti Sains Islam Malaysia under grant no PPPI/KHAS_PWZ/FSU/051007/1531

Species diversity, dominance and management of Shorea lumutensis-stand at Pangkor Island, Perak, Malaysia

High Conservation Value Forest (HCVF) stand of Shorea lumutensis, one of the endemic dipterocarps in Peninsular Malaysia, was established in Pangkor Island, Perak, Malaysia to conserve the species. The study was carried out at the HCVF stand to identify species dominance and social behaviour of S. lumutensis for future ex-situ rehabilitation effort. A total of six (6) sample plots (in the size of 50 x 50m each) were prepared. The richness, heterogeneity and evenness analyses by the principle component analysis were carried out on five canopy layers such as emergent or super tree (ST), dominant (T1), co-dominant and suppressed (T2), shrub (S) and herb (H). The H-layer showed higher richness for Plot 1 (P1), P2 and P3, with 69.141, 65.178 and 83.135, respectively, and a high level of heterogeneity. Meanwhile, the ST-layer recorded the lowest values for richness, evenness and heterogeneity. No single species dominates the S, T2 and T1 layers. The S layer in P3 and P5 is dominated by Diospyros subrhomboidea and Aporosa frutescens, respectively, while Fordia unifoliata, Vatica pauciflora, Teijsmanniodendron coriaceum are dominant in P6. On the other hand, the T1 layer (Plot 3) is dominated by Shorea maxwelliana, Vatica pauciflora and Hopea latifolia. Only two individuals of S. lumutensis are found in the T1- ST layers of all plots, showing the lesser dominance of the species. Hence, it is suggested that bigger HCVF area is needed to protect the species

MODEL PUSAT SEHENTI PENGURUSAN HARTA PUSAKA ISLAM (FARAID): THE MODEL OF FARAID ONE-STOP CENTRE (FOSC)

Abstract in English: Faraid is a set of rules and principles that regulates the distribution of a Muslim’s property upon his death which is based on the Sharia law. In Malaysia, the Islamic jurisdiction including the management of inheritance is under the administration of the state. However, from what we can see recently, the management of inheritance property still requires improvement and transformation in the perspective of management and administration. The average unclaimed worth of assets by the deceased's family members is valued at around RM 60 billion due to the lack of knowledge regarding the management of inheritance. Lack of knowledge on the role of the inheritance’s agencies among the Muslim society is also the main challenge in assisting them to resolve their disputes in property distribution. Hence, it is suggested that a Faraid One-Stop Centre will assists the Muslim community in settling the issues of inheritance efficiently. The Faraid One-Stop Centre (FOSC) model is a combination of all the inheritance management agencies under one roof or at one place. The model of FOSC consist of five agencies which are Faraid USIM Consultant (FUSACA), Small Estate Division of the Land Office, Amanah Raya Berhad, State's Religious Authority and the proposed Agency of Legal Aid and Advisory Services of Faraid USIM Consultant (FUSACA) is the most important agency in making decisions and giving advise to customers. Meanwhile, Small Estate Division of the Land Office is the agency that compiles all the inheritance cases. The Amanah Raya Berhad manages matters regarding the movable properties and grants the Letter of Declaration or Order. State's Religious Authority or Council will perform the valuation process of the property. Whereas The Agency of Legal Aid and Advisory Services will help in giving legal advise to the customers if needed and represent the clients in the court of law. The Model of FOSC may become a reference and guidance to the related agencies of inheritance to develop FOSC in each state in Malaysia. This model will improve the management and administration of inheritance to the next level, making the process of inheritance division and manangement easier for the people.   Abstract in Malay: Faraid merupakan sebuah sistem pengurusan harta selepas kematian yang dianjurkan oleh Islam. Di Malaysia, bidang kuasa hal ehwal Islam termasuk pengurusan harta pusaka adalah terletak di bawah kuasa pentadbiran negeri. Walau bagaimanapun, sistem pengurusan harta pusaka pada masa kini dilihat masih memerlukan kepada penambahbaikan dan transformasi dari sudut pengurusan dan pentadbirannya. Anggaran sebanyak RM60 bilion harta masih belum dituntut disebabkan oleh kesedaran masyarakat tentang pengurusan harta pusaka masih lagi di tahap yang rendah di samping kekeliruan dengan wujudnya pelbagai agensi yang menguruskan harta pusaka. Justeru, pembangunan model pusat sehenti pengurusan harta pusaka atau FOSC (Faraid One-Stop Centre) ini merupakan sebuah inisiatif yang dibangunkan untuk memudahkan masyarakat menyelesaikan masalah berkaitan harta pusaka dengan lebih efisien. Model pusat sehenti pengurusan harta pusaka (FOSC) ini menyatukan semua agensi-agensi yang terlibat dengan pengurusan harta pusaka di bawah satu pusat bagi memudahkan pengurusan harta pusaka. Model FOSC terdiri daripada lima agensi iaitu Faraid USIM Consultant (FUSACA), Bahagian Harta Pusaka Kecil, Amanah Raya Berhad, Majlis Agama Islam Negeri dan Agensi Guaman & Perundingan. Faraid USIM Consultant (FUSACA) dijadikan agensi yang berperanan penting dalam membuat keputusan dan memberi khidmat nasihat kepada pelanggan. Manakala, Bahagian Harta Pusaka Kecil sebagai agensi yang merekod kes yang dipohon dan diselesaikan dan Amanah Raya Berhad merupakan agensi yang menguruskan hal yang melibatkan harta alih dan mengeluarkan Akuan atau Arahan bagi harta alih. Majlis Agama Islam Negeri menyediakan khidmat pengiraan jumlah nilaian dan bahagian harta pusaka dan Agensi Guaman & Perundingan sekiranya pelanggan memerlukan khidmat peguam atau nasihat. Model FOSC ini boleh menjadi rujukan dan panduan kepada agensi berwajib berkaitan harta pusaka dalam mewujudkan pusat sehenti di negeri masing-masing. Model FOSC ini juga amat diyakini dapat memperkasakan pengurusan harta pusaka di Malaysia dan secara langsung dapat memudahkan masyarakat menguruskan harta pusaka secara mudah dan sahih.Faraid merupakan sebuah sistem pengurusan harta selepas kematian yang dianjurkan oleh Islam. Di Malaysia, bidang kuasa hal ehwal Islam termasuk pengurusan harta pusaka adalah terletak di bawah kuasa pentadbiran negeri. Walau bagaimanapun, sistem pengurusan harta pusaka pada masa kini dilihat masih memerlukan kepada penambahbaikan dan transformasi dari sudut pengurusan dan pentadbirannya. Anggaran sebanyak 60 Bilion harta masih belum dituntut disebabkan oleh kesedaran masyarakat tentang pengurusan harta pusaka masih lagi di tahap yang rendah di samping kekeliruan dengan wujudnya pelbagai agensi yang menguruskan harta pusaka. Justeru, pembangunan model pusat sehenti pengurusan harta pusaka atau FOSC (Faraid One-Stop Centre) ini merupakan sebuah inisiatif yang dibangunkan untuk memudahkan masyarakat menyelesaikan masalah berkaitan harta pusaka dengan lebih efisien dan kondusif. Model pusat sehenti pengurusan harta pusaka (FOSC) ini menyatukan semua agensi-agensi yang terlibat dengan pengurusan harta pusaka di bawah satu pusat bagi memudahkan pengurusan harta pusaka. Model FOSC terdiri daripada lima agensi iaitu Faraid USIM Consultant (FUSACA), Bahagian Harta Pusaka Kecil, Amanah Raya Berhad, Majlis Agama Islam Negeri dan Agensi Guaman & Perunding. Faraid USIM Consultant (FUSACA) dijadikan agensi yang berperanan penting dalam membuat keputusan dan memberi khidmat nasihat kepada pelanggan. Manakala, Bahagian Harta Pusaka Kecil sebagai agensi yang merekod kes yang dipohon dan diselesaikan dan Amanah Raya Berhad merupakan agensi yang menguruskan hal yang melibatkan harta alih dan mengeluarkan Akuan atau Arahan bagi harta alih. Majlis Agama Islam Negeri menyediakan khidmat pengiraan jumlah nilaian dan bahagian harta pusaka dan Agensi Guaman & Perunding sekiranya pelanggan memerlukan khidmat peguam atau nasihat. Model FOSC ini boleh menjadi rujukan dan panduan kepada agensi berwajib berkaitan harta pusaka dalam mewujudkan pusat sehenti di negeri masing-masing. Model FOSC ini juga amat diyakini dapat memperkasakan pengurusan harta pusaka di Malaysia dan secara langsung dapat memudahkan masyarakat menguruskan harta pusaka secara mudah dan sahih