KUALA LUMPUR (June 9): The finance minister II and Securities Commission Malaysia (SC) have called on accountants to uphold the highest standards of ethical conduct and professionalism in their work, which now extends beyond traditional financial reporting.

Finance Minister II Datuk Seri Amir Hamzah Azizan said the profession's growing role in areas such as sustainability reporting and digitalisation makes public trusts and professional judgement more critical than ever.

"Technical competence is essential, but integrity, professional scepticism and ethical judgement are what give the profession its standing," Amir Hamzah said in his keynote address at the Malaysia Institute of Accountants (MIA) International Accountants Conference 2026 on Tuesday.

While the current Accountants Act 1967 has long provided a strong foundation for regulating the profession, the framework must continue to evolve as accountants take on broader public-interest responsibilities, he added. 

Earlier, SC executive chairman Datuk Mohammad Faiz Azmi delivered a direct reminder that accountants remain among the most trusted professionals in business and society.

"Like it or not, you're the most trusted person in the room," he said during a special presentation about the Capital Market Masterplan 2026-2030 (CMP4). "Whatever we say, we can back it up with numbers."

The SC chairman then went on to caution accountants against compromising professional standards and warning that confidence in financial reporting depends heavily on the integrity of the profession.

"Please don't sign off accounts that you know are wrong. Please don't encourage your clients to do stupid things," he said. "Because if you do, it actually affects the trust people have in the numbers."

Both Amir Hamzah and Mohammad Faiz were speaking at the conference in separate sessions. According to Amir Hamzah, accountants today are no longer merely preparers of financial statements or guardians of regulatory compliance.

"At their best, accountants are strategic advisers, stewards of value and trusted professionals who help organisations make better decisions, manage risks, allocate resources responsibly and communicate performance credibly," he said.

The finance minister II noted that global investors and supply-chain partners are increasingly prioritising reliability, transparency and sound governance when deciding where to allocate capital and establish business partnerships.

"Malaysia must compete not only on cost, infrastructure and incentives, but also on trust and confidence. The accountancy profession is central to this proposition," he added.

Meanwhile, Mohammad Faiz separately added that accountants should view evolving sustainability disclosure requirements as a strategic business tool rather than merely a compliance exercise.

His comments come as Malaysia adopts the International Sustainability Standards Board (ISSB) framework, which aims to standardise sustainability-related disclosures and improve the consistency and comparability of information provided to investors.

According to Mohammad Faiz, the framework enables companies to communicate sustainability risks and opportunities using a common reporting standard. This ultimately reduces the need for multiple information requests from investors and analysts. However, he said the real value of sustainability reporting lies in helping businesses assess their long-term resilience and preparedness.

"People look at it as a compliance thing, but actually it's not," he said. "It's an opportunity for you to have a conversation with your client. Are you ready or not?"

Mohammad Faiz added that accountants should use sustainability reporting to engage clients in broader discussions about climate risks, business continuity and long-term competitiveness. This comes as investors place increasing emphasis on environmental and sustainability-related requirements.

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