Newly-formed, Sabah Association of Professional Accountants (SAPA) has sought economic protection from the state government, raising concerns over non-Sabahan professionals and businesses securing opportunities in the state.

“The presence of unauthorised practitioners undermines local talent and causes financial outflows from Sabah,” SAPA President Datuk Tan Kok Liang said.

“These non-local professionals may also provide subpar services due to their lack of familiarity with Sabah’s business environment,” he added during a courtesy call on State Finance Minister Datuk Seri Masidi Manjun in Kota Kinabalu, on Thursday.

SAPA highlighted that the influx of non-locals is limiting opportunities for local accounting graduates, forcing many to leave Sabah in search of work elsewhere.

The association urged the state government to enforce Malaysia Agreement 1963 (MA63) provisions, which regulate the entry of outside professionals, and tighten work pass enforcement to curb such practices.

“Many local firms are excluded from tendering for financial services projects, and this remains a major concern,” Tan said, calling for government agencies to prioritize local content and partnerships.

SAPA proposed introducing a seven-year rotation policy for auditors of state-linked companies (GLCs), aligning with Securities Commission guidelines, to improve corporate governance and create more opportunities for local professionals.

Incorporated in November last year, SAPA pledged to uphold ethical and professional practices, support its members with training, and promote the growth of Sabah’s accounting industry.

“Our vision is to foster the development of a thriving local accounting profession and contribute to Sabah’s economic growth,” Tan said.

Masidi welcomed SAPA’s collaboration and underscored the need to enhance financial literacy across businesses and public institutions to strengthen Sabah’s financial management practices. – Jan 17, 2025.