Browsing All Posts filed under »Corporate Governance«

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 […]

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, […]

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 […]

Business Judgment Rule and Director

March 10, 2019

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The ‘Business Judgement Rule’ (BJR), was first discussed and recommended by our Securities Commission (SC), in its Finance Committee Report of Corporate Governance 1999 (RGC). Then, it was incorporated into company law, through the amendment brought the Companies (Amendment) Act 2007. It then became the subsection, section 132(1B) of Companies Act 1965, and subsequently migrated […]