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THE Transmile Group Bhd saga is probably still a long way from achieving closure, but a recent court decision shows that the ripples caused by the former stock market darling’s accounting irregularities and its subsequent collapse, are still being felt in corporate Malaysia.
LAST week, this column looked at the fact that almost 30 companies, exchange-traded funds (ETFs) and real estate investment trusts (REITs) listed on Bursa Malaysia have issued 2016 accounts that come with independent auditor’s reports in the revamped format.
A QUIET but divisive debate has been going on in some corners of Malaysian business for the past two months. Here’s the topic: Should it still be mandatory for small companies to have their annual accounts audited? And just underneath is another question that may have a deeper impact: What is the value of the external audit?