hashanah ismail

This paper examines audit reports issued to 39 Malaysian listed companies in financial distress categorized as Practice Note 17 (PN17) companies by Bursa Malaysia. The study finds that for companies which experienced financial distress, the audit reports are not similar, despite all companies are similarly troubled financially. Companies receive either a disclaimer or an emphasis of matter (EOM) report. The study finds that which of the two reports is given is associated with three variables: current-year operating loss, shareholders’ deficit, and default status, implying that audit reports do convey information that financial distress is not of the same level and severity among PN17 companies.

ABSTRACT This paper reports on a study which explores the factors associated with debt structure of public listed companies in Malaysia. Comparisons are made between four main sectors: consumer, construction and property, industrial and trading and services. Based ...

This paper reports on the early first cohort of Audit Reports issued by external auditors in response to the requirement of ISA 701, Communication of Key Audit Matters (KAM) in the Auditor’s Report, which became effective for audits of financial statements on or after 15 December 2016.  Based on 15 Audit Reports of financial statements for year ending 31 December 2016 available in early 2017, this paper reports that only one out of 15 had a disclaimer and no KAM reported for the audit as ISA 701 specifies that no KAM should be reported following a disclaimer. The other fourteen audit reports were all clean reports with the number of KAMs reported ranging from one to five. The highest most significant audit matter reported was revenue recognition and inventory valuation followed by asset impairments of both tangible and intangible assets. Justifications by auditors of matters considered most significant ranged from no additional information (it is most significant because it is mater...

This paper examines the relationship between the contents of a report, the Statement of Corporate Governance, required to be included in the Annual Report of listed corporations, and the receipt of public reprimands. Since the formalization of good corporate governance in the Code, all listed companies are required by rule PN9 to include how they have applied the principles and the extent of compliance with best practice found in the Code. The paper is based on companies that received public reprimands in the first three quarters of 2005 and we compared the contents of the statement of corporate governance of a matched pair of companies which did not receive public reprimands to see if such statements differ between the two groups. We do not see any difference between the two groups.

... Accounting Research Institute & Faculty of Accountancy Universiti Teknologi MARA Malaysia & Malaysian Accountancy Research and Education Foundation ... assurance of the reliability of financial statements prepared by the board of directors to shareholders (Mautz and Sharaf ...