Majority of public-listed firms prefer to outsource internal audit functions

PETALING JAYA: The majority of public-listed companies (PLCs) in Malaysia in 2016 preferred to outsource their internal audit functions, with outsourcing being more prevalent in smaller-sized companies, a study by the Institute of Internal Auditors Malaysia (IIAM) has revealed.

Among the sectors of the PLCs, IIAM’s study showed that the closed-end fund, mining and special-purpose acquisition company (SPAC) industries have entirely outsourced their internal audit services.