Every year, the AOB inspects major audit firms that have more than 50 PIE audit clients with a total market capitalisation of above RM15bil, whereby these firms collectively audit 95% of the market capitalisation of public listed companies in Malaysia.
According to the AOB’s Inspection Report 2022 released yesterday, there was an increase in the number of audit engagements inspected by the AOB that required significant improvements. “The report provides insights into the common findings affecting auditors during the AOB’s inspections of firms and audit engagements of PIEs that year,” it said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: