Micpa: Oversight board in progress


  • Business
  • Saturday, 26 Jan 2008

KUALA LUMPUR: The bill to set up the Public Company Accounting Oversight Board (PCAOB) will be tabled in March, provided that Parliament is not dissolved for the anticipated general elections. 

Malaysian Institute of Certified Public Accountants (Micpa) president Datuk Nordin Baharuddin said the target was for the bill to be tabled then but if Parliament were dissolved, it would be tabled when the legislature next convened. 

“The task force set up by the Securities Commission (SC) has been working on it, it meet every week,” he said,. 

Speaking on the sidelines of Micpa's 49th anniversary commemorative lecture and luncheon on Thursday, he said the draft resolution would be sent to the Cabinet soon. 

Nordin said errant auditors were currently referred to the Malaysian Institute of Accountants and Micpa, which would then investigate and discipline their members. “This has been found not very effective so the new oversight board, when it comes into being, will have the power to take appropriate action,” he added. 

SC chairman Datuk Zarinah Anwar gave the commemorative lecture, which touched on the need for the board of directors and senior management of companies to set the tone on integrity.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

ANALYSIS: Top Glove bets on pandemic boom to propel ambitious US$1.9bil HK listing
Datasonic eyes Vietnam e-passport opportunity�
Yinson's unit bags RM1.5bil solar project in India�
Deloitte to pay RM324mil in settlement over 1MDB and SRC�
BIMB Investment launches Makmur myWakaf Fund
KLCI extends gains, closes 18 points higher
MISC’s ethane carrier Seri Everest delivers cargo in China
GlobalFoundries pours US$1.4b into fab expansion
Oil rises as U.S. vaccine progress raises demand expectations
Murakami-linked fund backs out of bid for Japan Asia Group

Stories You'll Enjoy


Vouchers