Last Wednesday afternoon, UTM officially launched a new Professional Accounting Centre for research into the problems related to the field of accounting.

Students, faculty, alumni, and supporters from the profession gathered in the rotunda of the Innovation Centre for the launch.

The event discussed the pressures experienced by the profession for harmonization in globalization, developing global standards, and for greater integrity, accuracy, clarity, and judgement in accounting data. The PAC was launched to conduct research on current issues facing the accounting field in order to improve overall financial operations.

“PAC will bring together professional accountants, researchers, regulators, and others to consider the problems facing the accounting profession in the future,” said Professor Len Brooks, director of the new centre. “We would then be able to stimulate research on these problems and disseminate the findings that we come up with.”

Brooks recognized UTM Principal Deep Saini, and professors Amy Mullin, Bernard Katz, and Gordon Richardson for their contributions to the centre.

“This program trains a pool of professionals who are setting worldwide standards for others to only aspire to match. The expertise of research that is emerging from PAC will inform both the profession and its pedagogy, and it will certainly positively impact our students,” said Saini. Saini added that he has no doubt that this initiative would leave its mark on the accounting profession, both locally and on a global scale.

Professor Hugh Gunz, director of the Institute of Management and Innovation, also made remarks along with guest speaker Tricia O’Malley, who is chair of the International Forum of Accounting Standard Setters and a part of the centre’s advisory board.