Introduction
The United Nation defines capacity-building as “the process of developing and strengthening the skills, instincts, abilities, processes, and resources that organizations and communities need to survive, adapt, and thrive in a fast-changing world. An essential ingredient in capacity-building is the transformation that is generated and sustained over time from within; transformation of this kind goes beyond performing tasks to changing mindsets and attitudes.” However, capacity building can only be effective with the existence of talented people, therefore building talent comes before capacity building.
There are three methods of acquiring talents, buy, borrow or build. ‘Buy’ talent means hiring someone as an employee. ’Borrow’ talent includes outsourcing services to someone outside of the organization such as a consultant. ‘Build’ talent involves training someone to take on new or different responsibilities.
One of the advantages of building talent is that it not only helps to retain the local talented individuals but also to attract talent from elsewhere to come and stay and play in the community. Talent building involves the efforts to build upon existing skills while identifying new skills and opportunities. In accountancy professional talent building is mostly achieved through an apprenticeship scheme or mentoring program.
ACCA defined apprenticeship as “earn, learn and qualify at the same time – an apprenticeship is a mix of on-the-job training alongside study’. The apprenticeship scheme combines work experience with academic study, enabling employees to develop their practical, theory, and technical skills. Crucially, while apprenticeships are often associated with hiring new talent for an organisation, graduate apprenticeships are open to existing employees, offering them a route to upskill and develop their careers. The UK government provides the opportunity for school leavers, graduates, and working persons to train as apprentices with accounting institutes such as ACCA and ICAEW. The apprenticeship scheme is fully funded by the government and employers. In the USA, the on-the-job training, mentorship opportunities, full-time wages, and a learning program leading to a credential, the Registered Apprenticeship for Finance Business Partners, launched by the Association of International Certified Professional Accountants®, offers apprentices meaningful employment. The program provides the employer financial incentives such as tax credits.
The CPA Australia Mentoring Program helps candidates to develop new skills and enhance existing ones within the accounting profession. The eight-month program is designed to provide members with an opportunity to connect with other CPA Australia members. There are no fees payable and up to 500 mentors and mentees are signed up.
Government-funded initiatives in Brunei
Goal 1 of the Wawasan Brunei focuses on the development of an educated and highly skilled population. Brunei Darussalam’s aspiration to achieve a developed nation’s status rests on its most valuable asset of well-educated, highly skilled, and accomplished human capital. Brunei’s human capital needs to be able to fulfill market and economic requirements whilst adhering to the national core values of the Malay Islamic Monarchy. To ensure progress, an integrated and high-quality education system and workforce training are required. Both the education and training systems need to be strengthened at all levels including primary and secondary education, higher education, and continuing lifelong learning education. A strong education and training system will ensure that every individual will have the opportunity to develop to their maximum potential and become a productive workforce ready to meet the nation’s manpower needs. In this respect, the Government of Brunei has taken a number of initiatives toward achieving this goal. Source: https://www.wawasanbrunei.gov.bn/SitePages/Goal%201.aspx
The following are some of the examples of the initiatives already in place.
SPIN in Accountancy
An initiative under the Learn and Grow Program by the Manpower Planning and Employment (MPEC) Council, the Prime Minister’s Office supported by the Ministry of Finance and Economy, and the Brunei Institute of Certified Public Accountants (BICPA), a not-for-profit national accountancy organization for the furtherance of the interests and status of the accounting profession in Brunei.
The SPIN in Accountancy Program is introduced to develop and enhance the talent pool in the accounting industry. The program provides funding assistance to local jobseekers and local employees including iReady apprentices in the private sector who meets the program requirements to acquire professional certification in Accounting and Finance specifically in Foundation in Accounting (FIA), Certified Accounting Technician (CAT), and Association of Chartered Certified Accountants (ACCA).
Applications are received online, assessed, and short-listed by MPEC and BICPA. The assessment process is rigorous, ensuring optimized funding, i.e. directed only at those who are able to commit and fully aware of the consequences of early termination, if any. Funding assistance provided by the Government of Brunei includes tuition fees, registration fees, membership fees, examination fees and monthly allowances. Classes are normally in the evenings on weekends to enable those with full-time employment to attend. Each successful candidate is paired with a mentor also assessed by BICPA and selected based on the mentor’s qualification and appropriate work experience. This initiative is open to those aged 18 to 45 years old. Facilitated by the Lifelong Learning Centre (L3C), Ministry of Education the program was launched and officiated by Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah as Chairman of Manpower Planning and Employment Council, Minister of the Prime Minister Office and the Minister of Finance and Economy II, on 26 July 2021. The first intake of students is in January 2022. The maximum course duration is 12 months for FIA, 24 months for CAT, and 48 months for ACCA.
Above: posters of the SPIN in Accountancy programme
Source: https://l3c.moe.gov.bn/spin-accountancy-2022/
The Lifelong Learning Centre (L3C) is established on 23 September 2019 during the National Teachers’ Day celebration with the objective to accelerate and strengthen Brunei’s human resources development through lifelong learning. The Centre aims to provide equal and equitable access to quality education through improvement of lifelong learning opportunities.
iReady Apprenticeship Program
An apprenticeship program for unemployed graduates (from HND and TVET to undergraduate degree and above) to gain work experience and acquire skillsets through on-the-job learning in the public or private sector. To be eligible, both the individual and the employer are required to be registered with the JobCentre, Brunei (JCB), a One-Stop Career Centre for jobseekers to market their services and for employers to post their job vacancies. Through interviews and other assessment processes, an employer can recruit suitable candidates through the iReady Apprenticeship Program. The Government of Brunei provides direct funding to the apprentice in the form of monthly allowance and contribution towards the staff provident fund, Tabung Amanah Pekerja (TAP and SCP) with a top-up of allowance by the employer. Throughout the duration of the employment, the apprentice is continuously coached and mentored by the host organization while the progress is regularly monitored by MPEC. The program is open to all types of industries including the accountancy profession.
Mentoring process
- Apprentice is assigned a coach and/or mentor.
- Apprentice’s progress/performance is monitored and assessed every 6 months throughout the 18 months
- JCB carry out site visit to companies and apprentice to follow up on their performances and development.
- At any time during the 18 months duration, the apprentice may be assessed for permanent employment. Companies are encouraged to employ apprentices as soon as they can.
- In the event that an apprentice is offered employment within the same organization, the apprentice will not be subjected to a further probationary period, as the program will have already served this purpose.
Source: https://jobcentrebrunei.gov.bn/web/guest/home
Skills Plus
Another initiative under the Learn and Grow Program by the Manpower Planning and Employment (MPEC) Council, Prime Minister’s Office supported by the Ministry of Finance and Economy supported by L3C, Ministry of Education. It provides funding assistance to local jobseekers and local employees in the private sector including freelance workers to reskill and upskill themselves by taking courses that are less than one year. The types of courses that are offered vary ranging from CET (Continuous Education and Training) to short courses to professional courses, including accounting courses. The list of courses is reviewed from time to time according to the industry needs. Learning methods are classroom based or blended learning.
Source: https://l3c.moe.gov.bn/mpec-skillsplus-2022/
The Chancellor’s Scholar, University Brunei Darussalam
His Majesty the Sultan and Yang Di-Pertuan Negara Brunei Darussalam in his titah during the UBD 25th Anniversary Celebration in 2011 announced the introduction of The Chancellor’s Scholar UBD. The Chancellor’s Scholar is a prestigious scholarship awarded annually by Universiti Brunei Darussalam to the country’s most gifted and talented youths with an interest and passion in pursuing a career in academia. The holders of this scholarship will receive an exemplary education at first-class universities worldwide reading for a Doctorate degree. Scholars of a high calibre will be nurtured with personal development programmes, mentorship, as well as placements with academics at UBD and overseas institutions. Candidates will contribute as academics, researchers as well as future leaders, managers, and planners of UBD. The candidate will be given the exciting opportunity to be part of the university’s vision to become a world-class university.
Source: https://ubd.edu.bn/about/career-opportunities/chancellors-scholar.html
Conclusion
Talent building is a continuous journey that requires the support and commitment of all parties towards the optimization and efficiency of nation building. In the context of Brunei, the accounting function is going through transformation from relying on mostly imported talents to building more local talents under the Localisation Program. Organisations are showing increasing interest in developing their local talents in the accounting field through collaboration with BICPA in the form of workshops, courses, and training.
Talent building is one of the keys to capacity building, however, talent development and retention are equally important in ensuring a sustainable pool of talent.
By:
Lucy Wong
Lucy Wong & Associates, Brunei Darussalam registered CPA
Adeline Lau
CEO & Director, BICPA Academy Sdn Bhd