Continuous Quality Monitoring for Type 3 Audit Firms
Monitoring review on the implementation of the remedial action plan (RAP) and its ensuing requirements (as prescribed in the MIA By-Laws) will be imposed on the audit firm three months after the approval of the RAP by the Practice Review Committee.
December 18, 2018
Root Cause Analysis (RCA) – An Essential Process to Improve Audit Quality?
Audit practitioners must identify the root causes impairing audit quality to ensure the success of their Remedial Action Plan (RAP) under the new Practice Review Framework.
October 24, 2018
Formulating an Effective Remedial Action Plan
MIA’s Remedial Action Plan applicable for audit firms with Type 3 rating aims to tackle continuing weaknesses in audit firms’ performance, in order to heighten audit quality and improve public trust.
January 1, 2018
Quality Assessment Programme: Common Findings of the Firm-level and Engagement-level Review
The Quality Assessment Programme (QAP) is a structured voluntary review of audit firms,…
June 27, 2022
MPERS: Common Issues on Consolidation
Since the Malaysian Private Entities Reporting Standard (MPERS) became effective in…
June 29, 2022
Embracing eConfirm.my: Feedback from Banks
Numerous confirmation letters are sent to banks at least on an annual basis by auditors…
May 11, 2022
Obligations by Reporting Institutions Under AMLA
This article recaps some of the salient learning points from an AMLA Awareness Workshop…