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Auditing standards in Malaysia

The audit profession in Malaysia today faces many problems; the most urgent of which is the apparent lack of professional standards by some auditors in the conduct of their audits.The problem is further aggravated by the lack of legal or professional sanction on the auditors in the face of massive a...

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Main Author: Heng, Ji Keng
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 1982
Online Access:http://journalarticle.ukm.my/7892/1/1386-2669-1-SM.pdf
http://journalarticle.ukm.my/7892/
http://ejournals.ukm.my/pengurusan/issue/view/
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spelling my-ukm.journal.78922016-12-14T06:45:33Z http://journalarticle.ukm.my/7892/ Auditing standards in Malaysia Heng, Ji Keng The audit profession in Malaysia today faces many problems; the most urgent of which is the apparent lack of professional standards by some auditors in the conduct of their audits.The problem is further aggravated by the lack of legal or professional sanction on the auditors in the face of massive audit failures. This is no blessing to the image of the audit as well as the accounting profession as a whole, as the audit function forms the vel)' backbone of the accounting profession. It is the audit function that has given the accounting profession the prestige and the professional status that it currently enjoys and it is the independent audit function which has distinguished the accounting profession from the other related professions in the fields of information systems such as management consultants, computer experts and statisticians. In this article, the writer has proposed a framework for the formulation and enforcement of a codified set of auditing standards by the profession itself, for the regulation of the audit profession in the Malaysian environment. lt is the view of the writer that the regulation of the accoun ting profession should be entrusted to the profession itself and should not be left in tile hands of legislators who do not understand fully the significance of the accounting concep ts and principles involved. In formulating his proposals, the writer has carried out a survey and made comparative studies of the audit professions in the developed countries. Penerbit Universiti Kebangsaan Malaysia 1982 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7892/1/1386-2669-1-SM.pdf Heng, Ji Keng (1982) Auditing standards in Malaysia. Jurnal Pengurusan, 1 . pp. 33-43. ISSN 0127-2713 http://ejournals.ukm.my/pengurusan/issue/view/
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description The audit profession in Malaysia today faces many problems; the most urgent of which is the apparent lack of professional standards by some auditors in the conduct of their audits.The problem is further aggravated by the lack of legal or professional sanction on the auditors in the face of massive audit failures. This is no blessing to the image of the audit as well as the accounting profession as a whole, as the audit function forms the vel)' backbone of the accounting profession. It is the audit function that has given the accounting profession the prestige and the professional status that it currently enjoys and it is the independent audit function which has distinguished the accounting profession from the other related professions in the fields of information systems such as management consultants, computer experts and statisticians. In this article, the writer has proposed a framework for the formulation and enforcement of a codified set of auditing standards by the profession itself, for the regulation of the audit profession in the Malaysian environment. lt is the view of the writer that the regulation of the accoun ting profession should be entrusted to the profession itself and should not be left in tile hands of legislators who do not understand fully the significance of the accounting concep ts and principles involved. In formulating his proposals, the writer has carried out a survey and made comparative studies of the audit professions in the developed countries.
format Article
author Heng, Ji Keng
spellingShingle Heng, Ji Keng
Auditing standards in Malaysia
author_facet Heng, Ji Keng
author_sort Heng, Ji Keng
title Auditing standards in Malaysia
title_short Auditing standards in Malaysia
title_full Auditing standards in Malaysia
title_fullStr Auditing standards in Malaysia
title_full_unstemmed Auditing standards in Malaysia
title_sort auditing standards in malaysia
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 1982
url http://journalarticle.ukm.my/7892/1/1386-2669-1-SM.pdf
http://journalarticle.ukm.my/7892/
http://ejournals.ukm.my/pengurusan/issue/view/
_version_ 1643737284437082112
score 13.211869

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