Audit reports lacking in substance, Bursa wants more disclosures

KUALA LUMPUR: The general quality of the audit committee reports of listed companies may be lacking in substance, according to a survey.

Bursa Malaysia’s second study on An Analysis of Corporate Governance Disclosures in Annual Reports showed that while the effectiveness of the audit committee was “very good” on the surface – in the sense that there is a high level of compliance with the listing requirements – there is still room for further improvement in the quality of the audit committee.