SMU SOA Associate Dean (Curriculum & Teaching) and Programme Director of the Master of Professional Accounting, Associate Professor Themin Suwardy, gave a round-up on the happenings in the accounting world in 2012. He wrote that he was “over the moon” as the Muddy Waters’ allegations of Olam’s accounting fraud got people “interested in finding out more about accounting standards.” However, he commented that “numbers in accounting were not the same as numbers in physical sciences” and that “much of the issue with Olam is a question of business strategy, more than the mechanics of accounting itself”. Associate Prof Suwardy also commented on the new code of corporate governance and the overhaul of the Companies Act.
Source
The Business Times