AI Reshaping the Finance Profession
KUALA LUMPUR — Deputy Finance Minister Liew Chin Tong addressed attendees at the Certified Practising Accountant (CPA) Congress 2026 in Kuala Lumpur on November 5, urging accountants and finance professionals to adopt multidisciplinary skills as artificial intelligence transforms the industry.
Liew stated that while AI would displace some less sophisticated jobs currently held by accountants, it would likely create new roles requiring deeper human judgment. These emerging positions would demand fewer technical skills and more focus on value-based decision-making.
Geopolitics and Economic Strategy
During his address, Liew outlined Malaysia’s positioning as "the three middles": an indispensable middle in supply chain and technology, a geopolitical middle that remains non-aligned, and a strong middle class.
He asserted that in 2026, an accountant or finance leader would be derelict in their duties if they ignored geopolitics, geoeconomics, supply chain resilience, critical materials, technology, AI, carbon emissions, and climate change.
Liew suggested that Malaysia, ASEAN, and Australia should view themselves as middle powers to strengthen their ability to deal with superpowers, including the United States, China, and Russia, on a more equal footing.
Building a Regional Middle Class
Noting that the US middle class is shrinking and cannot consume the world’s entire manufacturing capacity, Liew argued that ASEAN states must create a sizable middle class capable of consuming regional outputs.
To build and sustain this middle class, he urged Southeast Asian nations to abandon a race-to-the-bottom mentality. He called for the establishment of wage floors, the creation of homegrown technology corporations, and an increase in local ownership of technology.
Role of Finance Leaders
Liew criticized accountants and finance leaders for often urging ASEAN governments to compete via favorable tax incentives, wage suppression, or relaxed environmental laws. He urged them instead to resist such acts to ensure a prosperous and cohesive ASEAN.
Legislative Updates
Liew mentioned visiting the Malaysian Institute of Accountants to discuss amendments to the Accountants Act 1967. The institute marks its 60th anniversary in 2027, and Liew expressed hope for quick legislative movement regarding the proposed changes.