IIA–Malaysia Pushes for Consistency in Audit Standards
The president of IIA–Malaysia called for that country’s Securities Commission to consider introducing a mechanism to help ensure consistency in auditing standards. Speaking at the 2014 National Conference on Internal Auditing in Kuala Lumpur, IIA–Malaysia President Philip Satish Rao said 57 percent of Malaysia’s 1,000 private listed companies outsource internal auditing to parties that do not follow consistent standards.
"Not all those outsourced to are members of the institute,” he said. "That is why we are worried, as we do not know which standards they are applying and follow."
Read more on Bernama.com, the official portal of the National News Agency of Malaysia.