PwC Malaysia brings real-world financial reporting insights to Accounting students

In a valuable collaboration between academia and industry, the Department of Accountancy, Faculty of Accountancy and Management (FAM), together with the UTAR Sungai Long Accounting Society and PricewaterhouseCoopers (PwC) Malaysia, successfully conducted a three-part guest lecture series for 190 Accounting students enrolled in the Advanced Corporate Reporting (ACR) course. Held across three sessions on 21 April, 23 April and 3 May 2025, the series aimed to deepen students’ understanding of complex topics under the Malaysian Financial Reporting Standards (MFRS), particularly focusing on MFRS 132, MFRS 9, and MFRS 7.

The first two sessions took place on 21 and 23 April 2025 at UTAR Sungai Long Campus, where PwC Director, Mr Wong Ding Yan and Manager, Mr Aaron Tan, introduced the foundational principles of financial instruments. Topics included the definition of financial instruments in general, the recognition, classification and measurement of financial assets, financial liabilities, and equity instruments. Drawing from their extensive experience in industries such as oil and gas, telecommunications, and property development, the speakers effectively linked technical accounting concepts to real-world applications, making the sessions engaging and insightful for students. These sessions concluded with an interactive Q&A session and a photo session, capturing the meaningful conversation between students and industry professionals.

The final session on 3 May 2025 focused on the advanced applications of financial instruments. It featured PwC Assurance Partner, Mr Tiang Woon Meng, alongside Director, Mr Shakir Ab Razak and Senior Manager, Mr Dheepan Dorai Raj. Mr Tiang provided a historical overview of the need for impairment loss provisions under MFRS 9 and introduced the Expected Credit Loss (ECL) models, emphasising the challenges of incorporating forward-looking information. Mr Dheepan discussed derivative financial instruments as tools for managing risk, highlighting their characteristics and accounting treatments. Mr Shakir elaborated on hedge accounting, distinguishing between Fair Value and Cash Flow hedges and outlining the conditions required to apply hedge accounting in practice. Their presentations, supported by real-life case studies and practical scenarios, helped students connect academic learning with industry realities.

The session concluded with a lively and informative session by PwC Human Resources, Ms Michelle Wong and Cik Syahirah, who shared insights into PwC’s workplace culture and career opportunities. This provided students with a broader perspective on their potential professional pathways beyond the classroom. Throughout the lecture series, students were encouraged to apply critical thinking and sound judgment in interpreting and implementing financial reporting standards.

This initiative demonstrated the value of integrating professional expertise into academic settings. It not only enhanced the students’ technical competencies but also inspired them to consider the complexities and challenges of real-world financial reporting. UTAR extends its sincere appreciation to PwC Malaysia for their commitment to student development and looks forward to future collaborations that continue to enrich the learning journey of its students.