MRAP Working Group Meetings in Penang, Malaysia (March 31st – April 2nd, 2023)

The Moores Rowland in the Asia Pacific (MRAP) Working Group Meetings took place from March 31st to April 2nd, 2023, in the historic city of George Town, Penang, Malaysia. This event provided a platform for industry professionals to discuss key topics in audit, accounting, outsourcing, taxation and sustainability trends.

Day 1: Exploring the Cultural Heritage of Penang

The event commenced with a Penang City Tour, offering attendees a chance to immerse themselves in the city’s rich cultural and historical landscape. Delegates explored UNESCO-listed sites, enjoyed the local cuisine, and networked in a relaxed setting before the formal meetings commenced. This cultural excursion set the stage for the productive discussions ahead.

Day 2: Working Group Meetings and AI Insights

The second day was dedicated to focused discussions within key working groups, including: Audit; Accounting and Outsourcing; Tax.

These sessions allowed professionals to share insights, address challenges, and exchange best practices within their respective fields. The collaborative discussions aimed at strengthening industry standards and fostering innovation.

A highlight of the day was the virtual discussion on Artificial Intelligence, led by MMag. Dr. Niklas Schmidt, TEP, a Partner at Wolf Theiss, Austria. The session provided valuable perspectives on the role of AI in the financial sector, discussing its applications, ethical considerations, and impact on accounting and audit practices. Attendees engaged in thought-provoking discussions about AI’s potential to enhance efficiency and decision-making processes in the industry.

Day 3: Plenary Session on Sustainability

The final day featured a highly anticipated plenary session on Sustainability, presented by Prof. Dr. Susela Devi K. Suppiah, a distinguished Professor of Accounting at Sunway Business School, Sunway University. She provided in-depth insights into the integration of sustainability principles in business operations and financial reporting. The discussion emphasized the growing importance of Environmental, Social, and Governance (ESG) considerations in shaping the future of accounting and auditing practices.

The plenary session was moderated by the MRAP Secretary General, who facilitated discussions on how firms can adapt to evolving sustainability regulations and client expectations.

The MRAP Working Group Meetings in Penang brought together experts from across the Asia Pacific region, fostering collaboration, innovation, and knowledge sharing. The discussions from this year’s meeting will undoubtedly shape the strategic direction of MRAP and its member firms in the coming years.

Take a look at participants' activities here

Interested in attending the next MRAP conference? Contact MRAP@moores-rowland.com