Cambodia Investment Review
Two Cambodian CamEd Business School students have achieved top honors on the global stage by securing the highest scores worldwide in the June 2024 exam session of the ACCA’s Foundations in Financial Management (FFM) and Foundations in Audit (FAU) examinations. The impressive achievements were recognized at a press conference hosted by CamEd Business School on August 23, 2024.
The event, organized to honor the exceptional accomplishments of the students, was presided over by H.E. Prof. Ngy Tayi, Secretary of State of the Ministry of Economy and Finance, Chairman of CPA Cambodia Qualification Committee, and Chairman of the Registration and Membership Committee. The ceremony was attended by CamEd’s leadership, including its President, Casey Barnett, alongside representatives from the ACCA and other dignitaries.
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Ms. Reth Sivhong and Mr. Poeng Theamheng, the two students celebrated during the event, secured the top scores globally in their respective exams—Ms. Reth in the Foundations in Audit (FAU) and Mr. Poeng in the Foundations in Financial Management (FFM). These achievements are particularly significant given the global competition, which included students from the UK, Europe, Singapore, and Malaysia.
Young Cambodians Competing On An International Level
Casey Barnett, President of CamEd Business School, expressed pride in the students’ accomplishments, noting that their success reflects the potential of young Cambodians in competing on an international level. “The success of the two students in the recent competition not only shows the potential of both students but also illustrates the improvement and potential of all young Cambodians who have the ability to compete on the international stage,” Barnett stated.
Barnett also acknowledged the rigorous nature of the ACCA exams, emphasizing that students around the world sit for the same exams on the same day, making the achievements of Ms. Reth and Mr. Poeng even more commendable. “Their hard work, time management, and ambition have led them to achieve the worldwide top scores in both courses,” he added.
In his remarks, Barnett extended gratitude to H.E. Prof. Ngy Tayi for his pivotal role in establishing accounting and auditing standards in Cambodia since 1999. These standards, aligned with international norms, have been instrumental in attracting foreign investment to Cambodia. Barnett also highlighted ACCA’s standing as the world’s largest association of chartered certified accountants, headquartered in London, UK.
Strong Growth Of The Accounting Profession In Cambodia
Neou Ratna, Country Manager of ACCA Cambodia, spoke on the growth of the accounting profession in Cambodia, comparing it to a decade ago when the field had fewer than 10 professionals. Today, ACCA membership in Cambodia includes over 300 professionals, with more than 1,000 accounting professionals under the Certified Accounting Technician (CAT) program. Ratna also praised the consistent excellence of CamEd students, who have frequently secured top global scores in recent years.
“CamEd is the only institution in Cambodia that has received platinum accreditation from ACCA and other international quality assessment institutions,” Ratna stated. He commended the dedication of CamEd’s professors in mentoring students to achieve such high standards, adding that he was not surprised by the students’ success, given the school’s track record.
Ratna encouraged the two standout students to share their experiences and strategies with their peers to inspire more Cambodian students to excel on the global stage. “Let the world know the capacity of Cambodian students,” he urged.
Standards and the Development Of Accounting and Auditing Professionals
H.E. Prof. Ngy Tayi, in his address, congratulated the students and thanked Barnett for his continued commitment to advancing Cambodia’s accounting sector. He highlighted the significance of strong financial reporting standards and the development of accounting and auditing professionals to support Cambodia’s economic growth. “The ability of students who graduated from CamEd Business School to consistently be outstanding winners in various international competitions brings invaluable pride to the entire nation,” he noted.
Prof. Ngy Tayi also encouraged the students to continue focusing on their education and to seek out new knowledge that can contribute to Cambodia’s economic development, particularly in the fields of accounting, finance, and auditing.
Ms. Reth Sivhong and Mr. Poeng Theamheng are currently pursuing a Bachelor of Accounting and Finance along with their Certified Accounting Technician (CAT) qualification at CamEd Business School. Their achievements in the recent ACCA exam session are a testament to their dedication and the high standard of education provided by CamEd.
