The Statement on Internal Control - Guidance for Directors of Public Listed Companies was first
issued in December 2000. The objective of the document is to provide guidance to directors in
formulating the Statement on Internal Control in their annual report in accordance with Bursa
Malaysia’s Listing Requirements.
An industry led Task Force was established to revise the Guidance to reflect the changing
regulatory environment and evolving approaches to corporate governance issues that have
made disclosure an important regulatory tool. Reporting by boards of directors on the risk
management and internal control system within their companies has become an important part
of corporate governance disclosure requirements.
Public consultation has become a regular feature of the process of regulatory change of
corporate governance and financial reporting in laying the foundations of a good corporate
governance framework. This document has undergone due consultative process including focus
group meetings attended by company directors. We would like to thank the many companies,
professional bodies and individuals who provided input and shared their experiences in order to
improve earlier drafts of this document.
These guidelines are intended to guide directors of listed issuers in making disclosures
concerning risk management and internal control in their company’s annual report pursuant to
the paragraph 15.26(b) of the Listing Requirements. In making the statement, companies are
required to explain their governance policies, including any special circumstances which have led
them to adopting a particular approach. It sets out the obligations of management and the board
of directors with respect to risk management and internal control. It also provides guidance on
the key elements needed in maintaining a sound system of risk management and internal control,
and describes the process that should be considered in reviewing its effectiveness.
We trust that these guidelines will provide directors with the necessary information to assist
them in complying with the specific provisions of the Listing Requirements and aid in good
corporate governance.
Effective date: For financial year ending on or after 31 December 2012.
Please click here to download the pdf version of the Statement on Risk Management & Internal Control - Guidelines for Directors of Listed Issuers.
The IIA's blueprint for the profession that offers practitioners a full range of internal audit guidance, including the Standards, Code of Ethics, practice advisories, and development and practice aids.
Find the guidance resources you need in such areas as Corporate Governance, Risk Management, Expressing an Opinion on Internal Control, COSO Guidance, Establishing an Audit Shop, Sustainable Development, and many more subject areas.
Gain a better understanding of the internal audit profession and help others do the same. These key concepts have been written in clear and concise language, and can be used in presentations to upper management and audit clients.
One of theservices provided by IIA Malaysia exclusively for members is to provide technical support by assisting members with technical enquiries. These enquiries may be submitted via the Institute's website.
The Institute’s staff shall not respond to queries on the application and interpretation of materials not published by IIA. No enquiries on internal auditing and other professional requirements applicable in jurisdictions other than Malaysia shall be entertained.
The Institute’s staff shall entertain queries only from members of IIA Malaysia (with limited exceptions for regulatory bodies and the news media).
Queries shall be in writing. The query should include the member’s name, membership number, address, contact telephone number during normal office hours.
