The 11th biennial corporate governance assessment by the Asian Corporate Governance Association which covers 12 Asia Pacific countries including Australia in its “CG Watch 2023” market rankings report, retained Malaysia’s position at 5th placing, with improvements recorded in six out of the seven assessment categories.
Malaysia ranks first out of the 12 markets for quality of auditors and audit regulators, which is also the country’s best performing category, followed by the strength of its corporate governance rules and adoption of corporate governance practices by the listed companies.
In the latter two categories, Malaysia was ranked 2nd, after Australia. In terms of the regulator category, the SC was recognised for among others, effective communication on our enforcement action.
SC Chairman Dato’ Seri Dr. Awang Adek Hussin said, “This is a positive outcome for Malaysia, especially our leading position across the markets in terms of auditors and audit regulators.”
“It is also a strong recognition of the Audit Oversight Board’s role in promoting audit quality. Good corporate governance will remain a priority for the SC and we will continue to act on areas which require reinforcement,” he said.
