Final Report - Professional Services Activities Environmental Scan Final Report - Professional Services Activities En | Page 32

advertising industry also attracted graduates with various background like accounting, law,
geology, philosophy as well as engineering.
The demand for accountants in Malaysia has been increasing over the years as this profession
offers numerous opportunities and the job title has gone beyond “accountant”. This profession
includes titles such as chartered accountant, auditors, tax agent and the list goes on. In
December 2014, only 27% of accounting graduates registered with the Malaysian Institute of
Accountants (MIA) 9 . Among the younger generation, there is a perception that accountants
have little work-life balance and they view emerging industries within the technological space
more appealing. To increase number of registered accountants, MIA has been working with
schools and higher learning institutions.
The professional services industry is one of the key players within the Islamic financial system
in Malaysia. These firms play an important role in facilitating growth and providing support in
the Islamic finance industry. Within this niche, there are over 60 experienced professional
service firms which offer a range of financial services ranging from Shariah advisory, law, tax,
audit, research as well as training. Over the years, some of these firms have found success and
established their presence internationally due to their reputation for their technical excellence.
In 2017, there was a strong demand for finance and accounting graduates within corporate
functions. Based on 2017/18 Economic Report, the average salaries for employees with tertiary
education increased 4.9% from 2016 to 2017.
According to Professor Dr Mohd Hair Bejo, the Dean of Faculty of Veterinary Medicine in
Universiti Putra Malaysia (UPM), there are very limited places available for new local student
intakes for Doctor in Veterinary Medicine (DVM) programme as there are only 100 placements
in UPM and 40 in Universiti Malaysia Kelantan (UMK). As DVM is highly competitive, only
the cream of the crop with outstanding academic achievements and highly qualified candidates
with high interest in the programme will be selected. There are diverse opportunities for
veterinary graduates in government institutions, veterinary clinics, research, education
institutions as well as animal production. The highest demand of veterinary graduates comes
from the poultry industry. Over the years, many graduates are being self-reliant by starting their
9
The Strengthening of the Accountancy Profession in Malaysia, Dec 2014
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