How Independent Are Auditors?
Philip Satish Rao, Governor, Institute of Internal Auditors Malaysia
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The role of auditors is a crucial one - be it internal or external auditors. They are essentially the “gatekeepers” for the state of finance of a company.
However, over the years, Malaysia is not lacking in terms of accounting scandals. The prominent fraud cases among listed companies in Malaysia in recent years include Transmile Group Bhd, Kenmark Industrial Co (M) Bhd, Linear Corp Bhd and Axis Inc Bhd.
What is the root cause for the string of accounting scandals happening here? Should accountants/auditors be held more accountable for their actions or inactions during their course of work?
We discuss this with Philip.
We also talk about the digital disruption of the internal auditing profession.
Presented by: Joyce Goh
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Categories: Personal Finance, Investments, Financial Literacy, Business Analysis, Social Issues
Tags: 1MDB, corporate governance, auditors, accounting, professional accounting,