MIA Launches Two New Standard Setting Boards on Audit and Assurance As Well As Ethics

The Malaysian Institute of Accountants (MIA) launched two new standard setting boards - the Audit & Assurance Standards Board (AASB) and the Ethics Standards Board (ESB) on Tuesday, 9 June 2009. The boards were launched by YB Dato’ Wira Chor Chee Heung, Deputy Minister of Finance at the Securities Commission, Kuala Lumpur.

With the AASB and ESB, MIA hopes to elevate the competitiveness and security of Malaysian financial and capital markets while intensifying our efforts to improve audit quality and professional behavior among accountants. Both boards will seek to embed convergence with international benchmarks in order to further integrate Malaysian markets internationally.

The twin boards will have involvement from other public entities and is not confined to the accountancy profession alone. The AASB meanwhile will complement the role of the Audit Oversight Board (AOB).

For more information, please go to http://www.mia.org.my/new/news.asp