Audit Committee Practices in Malaysian Large Firms

33 Pages Posted: 19 Nov 2007

See all articles by Zulkarnain Muhamad Sori

Zulkarnain Muhamad Sori

INCEIF, The Global University of Islamic Finance

Shamsher Mohamad

University Putra Malaysia - Graduate School of Management

Siti Shaharatulfazzah Mohd Saad

Independent

Date Written: November 1, 2007

Abstract

This study examines the disclosures contained in Audit Committee Reports (ACRs) and the level of compliance of the current practices to the amended Kuala Lumpur Stock Exchange listing requirements after the adoption of various recommendations made by the High-Level of Finance Committee on Corporate Governance and Malaysian Code on Corporate Governance (MCCG) in 1999 and 2000 respectively. All firms that listed on the KLSE's main and second board, and MESDAQ counters were sampled. Consistent with the literature in developed markets, the findings reveal that very few companies provide more than what is expected in the ACRs by the listing requirements. Also companies in finance, technology and IPC counter, and companies in the main board counter have greater initiatives to provide value added (or termed as "non-boiler plate") statement to the information users.

Keywords: Audit Committee, Report, Disclosure, KLSE, Practices

JEL Classification: M40

Suggested Citation

Muhamad Sori, Zulkarnain and Mohamad, Shamsher and Mohd Saad, Siti Shaharatulfazzah, Audit Committee Practices in Malaysian Large Firms (November 1, 2007). Available at SSRN: https://ssrn.com/abstract=1031076 or http://dx.doi.org/10.2139/ssrn.1031076

Zulkarnain Muhamad Sori (Contact Author)

INCEIF, The Global University of Islamic Finance ( email )

Lorong Universiti A
Kuala Lumpur, Kuala Lumpur 59100
Malaysia
+60376514173 (Phone)
8 (Fax)

HOME PAGE: http://www.inceif.org/

Shamsher Mohamad

University Putra Malaysia - Graduate School of Management ( email )

Selangor Darul Ehsan
Serdang, Selangor 43400
Malaysia

Siti Shaharatulfazzah Mohd Saad

Independent ( email )

No Address Available
United States

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