Accounting Scandal in Transmile

August 27, 2020

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“Transmile”, is a household name (for a wrong reason) during my tutorial class for corporate governance.  Its former chief executive officer, Gan Boon Aun, was found guilty of furnishing misleading statements to Bursa Malaysia in February 2007, today (27 August 2020) by the Kuala Lumpur Session Court. Gan was proven for being responsible for the […]

Bylaws and Special Rules for Electronic Meeting

August 26, 2020

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The community organisation’s constitution and bylaws or charter are its governing documents. Thus, if the community organisation intends to use the electronic meeting as a mode of meeting, it is preferable the governing documents have the said provision, rather than leave it silence.  The authorship team of Robert’s Rules of Order Newly Revised (RONR), i.e. […]

Corporate Governance of the State-owned Enterprises

August 26, 2020

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The Auditor-General has published and released its Auditor-General Report (AGR) 2019 Series 1 recently. In the AGR, there was a specific chapter on the audit finding on the management of the selected federal government companies which are non-listed and state-owned. These companies include TH Hotel & Residence Sdn Bhd (THHR) (owned by Lembaga Tabung Haji, […]

Electronic Meeting, Societies Act 1966 and Robert’s Rules of Order

August 23, 2020

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The electronic meeting has become a preferred mode of meeting for the community organisation than a physical face-to-face meeting, especially during the lock-down period in Malaysia. But, if its constitution and bylaws or charter does not specifically provide electronic meeting as the authorised mode of meeting, is it legal to conduct an electronic meeting in […]

Audit Opinion And Corporate Governance

May 11, 2019

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Auditing is one important element in corporate governance. It is a control mechanism to monitor conduct and performance, and to secure or enforce accountability, through financial reporting. Therefore, the audit report (also known as the audit opinion), is the culmination process which the auditor collects and evaluates the sufficient and appropriate evidence, about the assertiveness […]

Is Whistleblower Protection Sufficient?

May 5, 2019

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In the pursuit of a better corporate governance system, a whistleblowing mechanism is essential. If the mechanism is in place and institutionalized, it can avoid a corporate fraud or minimize the consequent impacts towards the organization, shareholders and stakeholders. In the Enron scandal, its Vice President Sherron Watkins discovered the wrongdoings of the CFO Andrew […]