Business students of Middlesex University had an opportunity to interact with top class Business professionals. Five high profile experts included Mr Abbas Ali Mirza, Ex-President of IBPC and Ex-Chairman of ICAI, Dubai Chapter; Mr Amrithraj, Director Finance at Shapoorji Pallonji; Mr Anish Mehta, Director Audit at Deloitte; Mr Nisarg Duggad, Managing partner of Nimai Consulting; and Mr Jacob Joby, director development at SP International. Dr Cedwyn Fernandes, Director of Middlesex University welcomed guests and shared his thoughts on the significance of such intellectually stimulating activities. He mentioned that talented and high achievers choose Middlesex University and we strive to facilitate them with such activities.
It was amazing to see students raising questions across varied fields of business. Dr Rajesh Mohnot, faculty at Middlesex University provided a brief contextual reference to each theme and asked students to pose their questions. They were curious to know about the VAT implementation and its effects on UAE economy. Mr Nisarg and Mr Anish provided background of VAT and discussed at length that it may trigger inflation in the initial stage but will settle gradually. Mr Abbas, an author of more than fifteen IFRS-related books received queries on the adoption of IFRS in the region. He authoritatively described the role of IFRS and its smooth transition all over the world. He emphasised that the adoption of IFRS will help unify the accounting process.
Mr Amrithraj, a chartered accountant by profession, was stunned when a student asked that manipulation in accounting is being termed as creative accounting. He explained that there is a fine line between accounting rules and practical terms and conditions. The technological mechanism (e.g. accounting software) may not accommodate a particular transaction so that is treated on discretion basis, and thus may sometime be construed to be a creative accounting. Mr Jacob, who is known for his business strategy in the real estate business, responded student’s query on the role of outsourcing companies. He stated that companies would like to optimize on cost allocation by outsourcing the workforce. There are challenges and risks associated with this process but the cost optimization outweighs them. Dealing with another query on entrepreneurial skills, he advised students to keep exploring options and go after them whole-heartedly. Guests received questions on financial risk management strategy, renewable energy, most sought qualifications in accounting and finance, and each one was discussed at length by the experts with much enthusiasm, citing examples from industry at times or quoting from experience at others.
The whole session was well anchored by star students – Alan, Vishal, Cherita, Christy, and Simran. At the end of the session, Alan thanked all the guests for their insightful answers to the questions asked. They expressed that the expert advice received will help them make informed choices with regards to work and future education.