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The 2025 ACIIA Conference brings together industry leaders, governance professionals, and internal audit experts from all over Asia Pacific Region to address the challenges of auditing in a polycrisis era — a world shaped by climate risks, geopolitical instability, economic volatility, and rapid technological advancements. With the theme “Internal Audit in a Polycrisis Era: Adapting, Assuring, and Advancing,” the conference aims to equip professionals with the insights, strategies, and tools needed to navigate this complex landscape while reinforcing governance, resilience, and transparency. The event is expected to congregate more than 1200 delegates from 17 countries which will offer a diversified networking and learning experience to all delegates.

Day 1 sets the foundation with a keynote address on national resilience and sustainable governance, followed by thought-provoking discussions on the evolving audit landscape, governance frameworks, and the role of internal audit in driving business agility and ethical leadership. The day also explores the intersection of internal audit and mental resilience, ensuring auditors are prepared to perform under high-pressure conditions.

Day 2 expands the conversation through 16 concurrent sessions across four key tracks:

• Governance & Leadership – Strengthening board communication, governance in volatile geopolitical environments, and leadership development in internal audit.

• Sustainability & Resilience – ESG reporting, supply chain resilience, and sustainable investment strategies.

• Risk & Crisis Management – Navigating financial risks, crisis management in highprofile incidents, and ethical decision-making in uncertain times.

• Technology & Innovation – Leveraging AI, big data, and cybersecurity advancements to enhance internal audit functions.

Through keynote speeches, expert panels, and practical case studies, attendees will gain actionable insights to future-proof their audit functions and strengthen their roles as strategic enablers in their organizations. Join us as we explore the future of internal audit and governance in an ever-evolving world.

KEYNOTE ADDRESS

YAB DATO’ SERI ANWAR BIN IBRAHIM
Prime Minister of Malaysia

CHAMPIONING RESILIENCE AND TRANSPARENCY: A NATIONAL VISION FOR SUSTAINABLE GOVERNANCE

Showcasing Malaysia’s strategic efforts to foster resilience in the face of global challenges.
Highlighting the role of transparency and good governance in nation-building.
Outlining future priorities to support organisational and public sector integrity.

Profile:

YAB Dato’ Seri Anwar bin Ibrahim was born on August 10, 1947, in Cherok Tok Kun, Bukit Mertajam, Penang.

He began his formal education at Bukit Mertajam Boys School, Bukit Mertajam, Penang, before continuing his secondary education at The Malay College Kuala Kangsar (MCKK). He later pursued his studies at the University of Malaya, Kuala Lumpur, in 1968.

He, who is also the Member of Parliament for Tambun, was officially appointed as the 10th Prime Minister of Malaysia on November 24, 2022. His experience in politics and leadership is beyond question. He was very active in student movements during his youth while studying at higher learning institutions. He is known as one of the founders of the non-governmental organization, the National Union of Malaysian Muslim Students and Angkatan Belia Islam Malaysia (ABIM), established in 1972.

His involvement in the political arena, particularly in the Malaysian Cabinet, began in 1982 as the Deputy Minister in the Prime Minister’s Department. His political career progressed rapidly, with appointments as Minister of Culture, Youth and Sports in 1983 (1983–1984), Minister of Agriculture (1984–1986), Minister of Education (1987–1990), and Minister of Finance (1990–1998). In 1993, he was appointed Deputy Prime Minister. He also served as Leader of the Opposition from 2008 to 2015 and again from 2020 to 2022.

On the international stage, YAB Dato’ Seri Anwar bin Ibrahim is a well-known figure. He has been the Chairman of the Board of the Centre for Islam in the Contemporary World (CICW) since 2019. In addition, he is the founder of the International Institute of Islamic Thought (IIIT) and currently holds the position of Chairman Emeritus. He was also appointed as Chairman of the IMF Development Committee of the World Bank for 1997–1998 and served as a Board Member and President of the General Conference of UNESCO from 1988 to 1991.

To this day, he continues to serve as the Chairman of Pakatan Harapan (PH) and President of the People’s Justice Party (PKR).

THE SPONSORS

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CONFERENCE SPEAKERS

YBhg. Dato’ Seri Wan Suraya Wan Mohd Radzi

Auditor General of Malaysia

Dato’ Seri Wan Suraya was appointed as the 20th Auditor General (AG) of Malaysia on 13 June 2023.

She was appointed by the Yang di-Pertuan Agong on the advice of the Prime Minister and after consultation with the Conference of Rulers, pursuant to clause (1) Article 105 of the Federal Constitution.

She possesses a 30-year career in public service marked by significant contributions and achievements in various Government Ministries and Departments. She had served as the Secretary-General of the Ministry of Entrepreneur and Cooperatives Development and the Ministry of Unity as well as several other capacities such as the Deputy Secretary-General (Strategy and Monitoring), Ministry of International Trade and Industry (MITI) and CEO of the Malaysian Institute of Integrity (IM). Dato’ Seri Wan Suraya had also served as trade diplomat for 10 years, based in the Mission of Malaysia to the EU in Brussels and later at the High Commission of Malaysia to Singapore.

She has been awarded the Kesatria Mangku Negara (KMN) in 2014 and Panglima Mahkota Wilayah (P.M.W) in 2019. Dato’ Seri Wan Suraya has a legal background from the University of Sheffield and Lincoln’s Inn and brings a wealth of knowledge and experience to her role as AG including professional certifications from the Harvard Business School and the GE Management Campus, Crotonville in the USA as well as the World Trade Organisation (WTO) in Geneva. She has been instrumental in the negotiations and conclusion of trade agreements and various bilateral and regional FTAs such as the RCEP, ASEAN-HK FTA and the ASEAN-EU FTA, as well as formulation of national policies, such as the National Automotive Policy, National E-Commerce Strategic Roadmap (NESR), National Entrepreneurship Policy (DKN) 2030, National Unity Policy and the National Unity Blueprint. With a proven track record, she continues to shape Malaysia’s trajectory through her impactful contributions in governance, trade, and strategic leadership.

Anthony J. Pugliese

President and CEO, The Institute of Internal Auditors Inc.

Anthony J. Pugliese is President and CEO of The Institute of Internal Auditors (IIA), the internal audit profession’s most widely recognized advocate, educator, and provider of standards, guidance, and certifications.

Over a career spanning more than 30 years, Pugliese has been a strategic, hands-on leader who has directed expansions into major global markets, pioneered innovative educational initiatives aimed at enhancing members’ professional growth, overseen the internal audit function of a major organization for more than 15 years, and re-shaped cultural norms toward greater diversity, equity, and inclusiveness (DE&I).

As CEO of The IIA, Anthony drives the vision and management of a global professional association that represents more than 260,000 members, nearly 150 chapters, and 117 institutes in more than 170 countries and territories. He is focused on advocating for internal auditors worldwide while driving the evolution of both The IIA and the internal audit profession through initiatives to modernize professional standards and certifications. Of note, he spearheaded the groundbreaking “Internal Audit: Vision 2035 – Creating Our Future Together” project, which aims to identify what the internal audit profession will look like – and should look like – in 2035 and create a roadmap to help the profession achieve that vision.

A seasoned executive and skilled association strategist with a passion for innovation and technological advancement, Pugliese advocates a culture that promotes innovation, collaboration, empowerment, diversity, and achievement. He is very active in the community, with a passion for mentoring students and leading business partnerships, such as chambers of commerce.

Pugliese was previously President and CEO of the California Society of CPAs, the largest state CPA organization in the United States, with almost 50,000 members. In 2020, he led development of a Diversity, Equity, and Inclusion Committee at CalCPA to identify and address racial and other inequities in the accounting profession.

From 1997 through 2018, he served in key leadership positions at what is now the Association of International Certified Professional Accountants, the world’s largest accounting professional organization. His roles included Chief Operating Officer and Senior Vice President of the American Institute of Certified Public Accountants, where he oversaw the AICPA’s $50 million relocation to North Carolina; and Vice President of Business Reporting and Member Innovation.

A graduate of the University of North Florida (Jacksonville), Pugliese has been repeatedly recognized as one of the most influential people in accounting and the Greater Orlando business community. He holds The IIA’s Certified Internal Auditor (CIA) credential, and is a Chartered Global Management Accountant (CGMA), Certified Information Technology Professional (CITP), and licensed CPA in Florida.

Suhailah Mohamed Abdulla

President, IIA Malaysia

Suhailah is the Chief Integrity & Assurance Officer of SD Guthrie Berhad (“SDG”) and formerly known as Sime Darby Plantation Berhad and in her current role, she oversees the integrity, governance and assurance functions of SDG across its operations in Asia Pacific, Europe and Africa.

Suhailah joined SDG in 2018, after having led various audit, risk management and advisory engagements while serving at KPMG, Astro Malaysia, F&N Holdings and Themed Attractions Resorts & Hotels in her close to 30-year career.

Suhailah is a Certified Fraud Examiner, a Certified Integrity Officer, a Certified Internal Auditor by the Global Institute of Internal Auditors and holds a Certification in Control Self-Assessment conferred by the same Institute. She is a member of The Malaysian Institute of Certified Public Accountants, Malaysian Institute of Accountants and Association of Certified Fraud Examiners. She is a Chartered Member of The Institute of Internal Auditors Malaysia and is serving her 2nd term as a member of its Board of Governors. She holds a Bachelor of Accounting (Hons) degree from the University of Lancaster, United Kingdom.

Arthur Leong

Principal Consultant, Quaditix

The speaker has accumulated more than three decades of expertise in the fields of external and internal auditing, as well as consulting services for various industries.

He has also dedicated more than a decade of his career to advocate, market and instruct auditors on how to utilize various audit tools, such as Audit Management Systems and Audit Data Analytics software, to enhance their audit performance and quality.

He has received extensive training and exposure from working in prestigious Big 4 firms, namely Ernst & Young and PricewaterhouseCoopers, where he gained valuable insights and best practices from the leaders in the auditing profession. Additionally, having served as a CAE of a public-listed company, for 5 years, that was on the IBM AS/400 platform and later migrated to SAP R/3, he also gained valuable experience and deep insights on how to audit using CAATs (Computer Assisted Audit Techniques) in these highly automated environments.

He attained the professional certification of CISA (Certified Information Systems Auditor) in the year 1995, which demonstrates his competence and proficiency in auditing information systems and technology. He has also served as the President of ISACA (Information Systems Audit & Control Association) Malaysia Chapter from the year 2002 to 2004, where he led and oversaw the activities and initiatives of the association that aims to promote the development and advancement of the information systems audit and control profession in Malaysia.

During this period when he served on the Board of ISACA, he conducted numerous workshops and seminars on the subject of IT Auditing, SAP Auditing and Windows Server Operating Systems Auditing. He is also currently a member of the Association of Certified Fraud Examiners. He continues to provide training and technical advice and assistance to whoever wants to learn more about the intricacies of Audit Data Analytics and other tools that are of interest to auditors.

Chari TVT

Governance and Risk Committee, UEM Sunrise

Chari is a Business / financial consultant engaged with a local listed conglomerate, high-tech 5G infrastructure company, a global forensics & valuation company, large infrastructure company in the aviation sector, High- tech semi-conductor chip manufacturer amongst others.

He served also a Board member of a few listed and non-listed entities in Malaysia and abroad including UEM Sunrise Bhd, Airasia Aviation Group Bhd, Redone Group Bhd, Phil Tower Inc, Philippines. He recently joined the Board Advisory of a AgenticAI company based out of the US.

Chari Tvt served as the Group CFO of Malaysia’s Axiata Group & Celcom Telecommunication up until December 2016. Axiata is one of the largest telecommunications groups in Asia with more than 200 million customers and a market cap of approximately US 10 B. Chari has also served as the CFO of Celcom Axiata since mid-2009 and was responsible for a series of new initiatives which helped Celcom to receive an Award for generating the highest ROIC within Malaysia.

Prior to joining the Axiata Group, he was Vice President of Sales for Asia Pacific and Japan at Hewlett Packard and had served HP for over twenty years of which he spent 4 years in Hongkong, 12 years in Singapore and 4 years in Thailand and Malaysia. In his 20 years stint in HP, the first 10 years was spent in various finance positions and the last 10 years in Sales & Marketing, Business Unit head at Asia Pac level.

In his down time, he continues to deliver a range of talks at local and international conferences, on topics like Importance of Analytics, Digital Disruptions, Digital Transformation, Technology Risk Assessment, Purpose Driven Leadership, Business Model innovation, Investment Portfolio Management etc.

He is an advisory member of a subcommittee of Malaysian Institute of Accountants. He is also a mentor for entrepreneurs under Endeavor Malaysia and an advisory member to a plastic recycling company.

He holds an MBA from State University of New York at Buffalo, and is a Fellow member of the Chartered Institute of Management Accountants UK, a Fellow member of Institute of Chartered Accountants of India and a Member of Institute of Cost and Works Accountants of India.

Dash Dhakshinamoorthy

Founder, StartupMalaysia & Act2 | Entrepreneurship Enabler | Next Act™ Architect

Dash has spent over 30 years building ventures, supporting founders, and pioneering entrepreneurship ecosystems.

He helps first-time founders, midlife professionals, and corporate leaders create what’s next using the Effectual Method — a research-backed approach based on how expert entrepreneurs leverage uncertainty to take action. A TalentCorp TF50 Fellow and Cambridge alumnus, Dash was invited by President Obama to the Inaugural Global Entrepreneurship Summit. Through StartupMalaysia and Act2, he now guides individuals into entrepreneurship and helps organizations grow through it.

Divakaren Sivagurunathan

Head Of Internal Audit at a Digital Media Agency

Divakaren Sivagurunathan is a seasoned Technology Auditor with over 20 years of experience in internal audit, technology risk, and cybersecurity.

He has demonstrated leadership in managing audit teams, developing risk frameworks, and enhancing operational resilience through data analytics and automation.

He has led internal audit functions for more than eight years, mentoring teams and serving as Board Audit Committee secretary, ensuring strong governance and stakeholder communication.

He is accredited as a CISA professional with a Cybersecurity Audit Certificate and has implemented fraud risk assessments and utilized COSO
and CoBIT standards to strengthen digital and cyber risk controls.

He is currently the Head of Internal Audit at a digital media agency, with emphasis on data analytics and AI, and is using audit to strengthen the process of safeguarding digital assets and data privacy.

Dominic Chegne

Governor, IIA Malaysia

Dominic is a Partner in the Risk Services (RS) unit within PricewaterhouseCoopers (PwC) Kuala Lumpur office.

His employment history spans over 28 years of work experience. Dominic has taken on several risk & governance leadership role during his tenure in PwC. His portfolio prevails in the jurisdiction of internal audit, risk management, controls, regulation compliances, corporate governance and process reviews/ improvements. He previously led the Risk & Governance practice within PwC Consulting and prior to the that, Dominic led and grew the internal audit practice for the Kuala Lumpur office. Dominic currently heads the Business Risk Advisory practice and also the ESG Assurance lead for PwC Malaysia.

Dusk Lim

Head of Solutions Specialist, APAC – Diligent

Dusk Lim is an experienced sales leader with nearly 20 years of experience in the Asia Pacific region, dedicated to providing businesses with innovative solutions to address significant challenges.

With ten years of expertise specifically in serving Governance, Risk, and Compliance (GRC) professionals, his goal is to ensure that GRC functions are integrated into an organisation’s journey towards AI and digital transformation.

Evelyn Foong

Head of Audit, Zurich Australia

Evelyn Foong is a senior governance executive and currently serves as Head of Audit for Zurich Australia & New Zealand.

She also sits on the Board of the Institute of Internal Auditors Australia.

With a deep commitment to aligning governance with long-term resilience and sustainability, Evelyn brings a forward-looking lens to internal audit. She is particularly focused on how climate risks and economic volatility shape enterprise risk and audit priorities. Her experience in mergers and acquisitions has enabled her to lead strategic transformations across multi-jurisdictional functions in APAC, embedding sustainability and adaptability into audit approaches. She has also led international audits across all regions, applying a global perspective to emerging systemic risks.

Evelyn’s leadership style is energetic, inclusive, and purpose driven. She empowers teams, fosters collaboration, and ensures diverse voices are heard. A recognised advocate for diversity and inclusion, she was a founding member of Zurich’s Australia and New Zealand Gender Equity Network (GEN) and continues to champion equitable leadership and inclusive workplace practices.

Fadzilah Musa

Solutions Engineer at DataSnipper

Fadzilah helps audit and finance teams across APAC streamline processes with intelligent automation.

With audit experience and tech expertise, she bridges digital solutions with real-world challenges to boost accuracy, efficiency, and compliance.

Gaythri Raman

Managing Director, LexisNexis Southeast Asia-India

Gaythri Raman is the Managing Director of LexisNexis Southeast Asia and India, responsible for the adoption of online solutions for the litigation, corporate and government segments across the regions.

She is a strong advocate for the transformation of legal business by leveraging legal innovations to make meaningful impact. Her vision has led the way in the legal industry in Southeast Asia.

Gaythri’s appreciation for the rule of law and its significance in empowering individuals and improving access to justice in modern society has been a driving force throughout her career. She firmly believes that technology can be the powerful enabler to advance the rule of law by enhancing legal literacy and improving transparency of the law.

A passionate believer in the role of technology in reshaping the legal landscape, Gaythri has championed the integration of advanced tech solutions such as artificial intelligence and analytics tools to streamline legal processes. Her forward-thinking approach encourages data driven decision-making, ensuring legal professionals can focus on higher-value tasks. This commitment to innovation has helped position LexisNexis Southeast Asia at the forefront of legal tech advancements.

Gaythri is an influential leader and has now dedicated much of her career to inspiring as well as supporting her team and partners to push the boundaries of what is possible when the rule of law and technology intersect. Under her leadership, LexisNexis Southeast Asia has won the Singapore Business Review (Technology Excellence Awards) both in 2023 and 2024 as well as the Outstanding Legal Gen AI Innovator Award (Asia-Pacific Legal Innovation & Technology Association) 2024.

Ganesan Kolandevelu

Partner and Head of Sustainability & Emerging Assurance, Deloitte Southeast Asia

Ganesan is a Head of Sustainability practice at Deloitte Southeast Asia. He has spent last 25 years working on various advisory, audit, and risk management engagements with Big 4 accounting firms.

He is a Certified ESG Analyst, conferred by The European Federation of Financial Analysts Societies (EFFAS), who has led more than 100 Sustainability / ESG projects for companies and organizations at Southeast Asia. His expertise includes Climate Risk Assessment, TCFD reporting, Climate Advisory, Net zero and decarbonization strategies, Greenhouse Gas Accounting, Business & Human Rights due diligence, ESG strategies and more recently, IFRS ISSB projects. He has conducted trainings and workshops for numerous large multinational companies involved sectors such as energy and power, oil and gas, industrial and consumer products, infrastructure and real estates, financial institutions and healthcare.

Ganesan is a Certified Internal Auditor (CIA), CCSA and CRMA by the IIA Inc, CA by the Malaysian Institute of Accountants, a fellow member of ACCA (UK), and a member of CPA Australia. He holds a Bachelor of Accounting (Hons) degree from the Universiti Utara Malaysia and MBA from Oxford Brookes University, United Kingdom.

Julian M Hashim

Chief Regulatory Officer, Bursa Malaysia Berhad

Julian, an advocate & solicitor of the High Court of Malaysia and a founder partner of a leading Kuala Lumpur law firm, advised on all aspects of corporate transactional work including international and domestic M&As, take overs and capital market transactions in his 25 odd years of legal practice.

Julian also advised his clients on their on-going reporting obligations, corporate governance requirements and other compliance matters.

As the Chief Regulatory Officer of the Exchange, Julian and his team at Bursa Regulation undertakes regulatory functions of Bursa Malaysia Berhad and its licensed subsidiaries ranging from regulatory strategies and policies, listing, market and corporate surveillance, governance and sustainability, participant supervision, investigation and enforcement.

Julian is also the Chair of Sub-Committee 2: Governance & Disclosures of the Joint Committee on Climate Change (JC3) as well as a member of the Advisory Committee on Sustainability Reporting (ACSR), a national-level committee set up to support the implementation of the IFRS sustainability disclosure standards (ISSB Standards) in Malaysia. He is also a board member of the Capital Market Compensation Fund Corporation.

Dr Kalanithi Nesaretnam

Independent Non-Executive Director (INED) at IOI Corporation Berhad and Tan Chong Motor Holdings Berhad

Dr Kalanithi Nesaretnam is currently an Independent Non-Executive Director (INED) at IOI Corporation Berhad and Tan Chong Motor Holdings Berhad.

At IOI Corp she is Chairperson of the Board Sustainability Committee. She is co-founder of Climate Governance Malaysia (CGM) which is the country chapter of the World Economic Forum’s Climate Governance Initiative. She is also on the Steering Committee of the CEO’s Action Network (CAN), a coalition of leaders for sustainability action. She is an ESG advocate and recently completed The Oxford University’s Leading Sustainable Corporations Programme at the Said Business School. She has been sharing her ESG experience with newly appointed directors on Bursa’s Mandatory Accreditation Programme (MAP) since 2022. In June 2022 she was appointed advisor to Barbados Investment and Development Corporation (BIDC).

She holds a PhD in Biochemistry and Molecular Biology from the University of Reading, UK. She held the position of Director, Product Development and Advisory Services at the Malaysian Palm Oil Board and subsequently as Minister in the Embassy of Malaysia to Belgium and Mission to the European Union. She is a mentor at LeadWomen and 30%Club, international organisations that are dedicated to empowering women and getting women Board ready.

Lee Min On

Independent Non-Executive Director of Various PLCs

Mr. Lee Min On is a Chartered Accountant (M) with the Malaysian Institute of Accountants and a Certified Public Accountant (M) with the Malaysian Institute of Certified Public Accountants.

He is also a Fellow (CFIIA) of the Institute of Internal Auditors Malaysia.

Mr. Lee retired in 2015 as a Partner of KPMG in Malaysia, after serving for 36 years, with 20 years in external audit & 16 years in risk consulting. His professional experience at KPMG included the external audit of both public and private corporations, as well as board and risk consulting services in areas such as Corporate Governance, Enterprise Risk Management, Risk Based Internal Audit, and Board Effectiveness Evaluation.

He co-wrote Bursa Malaysia’s Corporate Governance Guide – Towards Boardroom Excellence (1st and 2nd Editions), on the Principles & Practices of the Malaysian Code of Corporate Governance. Additionally, Mr. Lee was a member of the task force under the auspices of Bursa Malaysia, responsible for developing the Statement on Risk Management & Internal Control – Guidelines for Directors of Listed Issuers.

He is actively conducts corporate training for Directors & Management and participates in public seminars & conferences as speaker on topics such as Sustainability Governance and Reporting, Corporate Governance, Enterprise Risk Management (including Fraud Risk Management), Anti-Bribery and Anti-Corruption Initiatives, Directors’ Roles and Responsibilities, Bursa’s Listing Requirements (including Corporate Reporting, Conflict of Interest obligations, and Related Party Transactions), the Companies Act 2016, and Risk-Based Internal Audit.

Currently, Mr. Lee serves as an Independent Director of five Main Market listed issuers and sits as a member of the Audit and Risk Management Committee of the Malaysian Institute of Accountants.

Liu Chai Hong

Director, Sustainability Advisory, KPMG Malaysia

Liu Chai Hong is a Director in the Sustainability Services Department at KPMG Malaysia, with nearly a decade of experience in sustainability, human rights, supply chain management, and ESG due diligence.

She has worked extensively with both local and multinational companies to strengthen ESG management practices and has supported investors in mitigating social and environmental risks through a responsible investment lens.

Chai Hong is passionate about creating meaningful impact and believes that sustainability is about balancing the benefits between business and the good of society. Her approach emphasizes innovation and collaboration approaches.

Maciej Piolunowicz

Head of Internal Audit at BGK – Polish Development Bank

Maciej is the Chief Audit Executive of Polish Development Bank (BGK), one of the largest banks in Poland, where he manages a team of 32 auditors.

He is a member of the IIA Standards Board, the 20-person body responsible for developing and maintaining IIA Standards, and therefore the co-creator of the new Global Internal Audit Standards.

He holds the CIA designation.

He is a lecturer at post-graduate studies on internal audit at different universities in Poland.

Maciej is an author of articles on internal audit and corporate governance published by leading Polish newspapers and magazines.

He has had a number of presentations during conferences all around the globe, including IIA’s International Conferences, AFIIA and ECIIA annual conferences, and Great Audit Minds events in the USA and of course the amazing 2024 IIA Malaysia national conference.

Majidah Hashim

Sustainability Practitioner

Majidah Hashim was recognized by The Women Achiever is one of the world’s Top 10 Most Successful Women in Sustainability for 2024.

She is a Certified Sustainability Report Assurer (CSRA) and sustainability practitioner with over 18 years of experience driving and shaping global sustainability policies and practices. She served for four years on the Airport Council International (ACI) World Environment Standing Committee (WESC) and regional ACI environmental strategy committees for Asia-Pacific and Europe. She is currently an Executive Committee member for the Women’s Aid Organisation (WAO) in Malaysia.

Majidah specializes in sustainability trends, framework architecture, triple bottom lines, disruption, transformation and ethics. She has presented national reviews at the United Nations Human Rights Council, addressing crucial issues such as discrimination and access to justice. She also played a role in the development of the Airport Carbon Emissions Reporting Tool (ACERT), the leading greenhouse gas inventory dashboard used by international airports worldwide today.

Majidah has co-authored several influential publications, including the Global Reporting Initiative (GRI) Airport Sector Supplement (AOSS), the ACI policy brief on Resilience and Adaptation to Climate Change, the Alliance for Financial Inclusion (AFI) guidance on Integrating Gender and Women’s Financial Inclusion into National Strategies and AFI’s special report on Financial Inclusion for Persons with Disabilities. These contributions are globally recognized and widely adopted as both policies and case studies.

Malar Odayappan

Director, Sustainability and Climate Change | Just Transition Leader, PwC Malaysia

Malar Odayappan is a Director in PwC Malaysia’s Sustainability and Climate Change practice and the firm’s Just Transition Leader, bringing over 25 years of experience in social compliance, sustainability, and stakeholder engagement

At PwC, she leads the development of sustainability service roadmaps across Southeast Asia and supports clients on issues spanning human rights, ESG governance, and just energy transitions.

She has led impactful initiatives, including facilitating cross-sector stakeholder roundtables on Just Transition for Malaysia’s largest energy client, and conducting a nationwide labour market policy study for a UN agency. Her work also includes human rights risk assessments, ESG due diligence, and capacity building workshops for senior leaders across industries.

Prior to joining PwC, Malar held regional roles in multinational companies, where she led audit-related initiatives, developed compliance tools aligned with global standards like SLCP, and championed workforce impact strategies including gender equity and fair recruitment. Her regional experience spans South Asia, Hong Kong, and Mauritius, with proven expertise in multi-brand assessments, vendor engagement, and risk-based audit systems.

Malar’s work is grounded in her ability to connect ESG principles with operational realities, making her a sought-after advisor on building resilient, socially responsible business strategies.

Manoj Agarwal

President, ACIIA

Manoj Agarwal currently leads the Internal Audit and Risk Management department at one of India’s largest specialty footwear retailers.

SWith over two decades of experience, he has built a strong track record of delivering assurance and advisory services across the retail, facility management, and BFSI sectors. Prior to his current role, Manoj was responsible for internal audit and risk management for the Indian operations of ISS A/S and served as the vertical leader for the IT/ITES industry at ANB Consulting.

Manoj is known for his holistic, data-driven approach to governance, risk, compliance, and ethics. His work focuses on aligning governance practices with business objectives to help organizations achieve higher levels of maturity and resilience. He is also a sought-after speaker, having delivered sessions at various international conferences on topics such as Third-Party Risk Management, Fraud Risk Management, the International Professional Practices Framework (IPPF), and corporate governance.

Since 2019, Manoj has been a member of the International Internal Audit Standards Board. He previously served on the Professional Issues Committee from 2013 to 2017. Within the Institute of Internal Auditors (IIA) India, he has held several leadership roles, including Chair of the Training Committee since 2019, Treasurer since 2022, and President of the IIA India Bombay Chapter during 2018–2019. A dedicated volunteer with IIA since 2008, Manoj holds several professional certifications, including CIA, CRMA, CISA, and CA.

Dato’ Merina Abu Tahir

ACCA Global Council Member | Board of Director of Public Listed Companies

Merina Abu Tahir has over 35 years of working experience in various senior management positions in finance, accounting, business development, audit, governance and ethics; in Malaysia, United Kingdom, Middle East, Africa and South America.

She is currently an Independent Non-Executive Director on the boards of Malaysian public-listed companies, Tenaga Nasional Berhad, SP Setia Berhad and AEON Co (M) Berhad.

Merina is active in the development and promotion of the accounting profession through current appointments in the ACCA Global Council, ACCA Global Forum on Governance Risk & Performance, Malaysian Institute of Accountant (MIA) Education Board and MIA Professional Accountants in Business Committee.

Merina is the past Chair of ACCA Malaysia Advisory Committee, past MIA Council member and past Executive Committee member of the International Association of Airline Internal Auditors.

She is a member of the Malaysian Institute of Accountants (MIA), Fellow of the Association of Chartered Certified Accountants (ACCA), member of the Malaysian Institute of Certified Public Accountants (MICPA), ASEAN Chartered Professional Accountant, Institute of Internal Auditors Malaysia (IIAM) and Institute of Corporate Directors Malaysia (ICDM).

Mohd Khaidzir Shahari

Chairman, SORMIC Task Force | Past President, IIA Malaysia

Khaidzir, a Certified Internal Auditor, is the Chief Executive Officer at Lembaga Zakat Selangor effective from 7^th April 2025.

Previously, he was a Partner and an Executive Director at KPMG Management and Risk Consulting Sdn Bhd.

He has been a member of the Institute Internal Auditors Malaysia since 1997 and held various chairmanship position in task forces and sub committees, i.e Research and Technical Advisory Committee, Guidance on Internal Audit Function V.2 and FAQ on Sustainability Assurance by Internal Auditor. He is also a member of Malaysian Institute of Accountants and a member of its Islamic Finance Council.

In KPMG, he has been providing governance, risk and controls advisory services to public listed companies, government-linked companies, multi-national corporations and large enterprises.

Navin Pasricha

Executive Director, Decalais Consultants

Navin Pasricha has spent more than 40 years in internal audit, risk, and governance—working across Asia, the Middle East, and Australia.

He’s been a Chief Audit Executive, Chief Risk Officer, Big Four director, served on both audit and risk committees and chaired a Corporate Governance & Board Improvement consulting practice. Along the way, he’s helped boards and audit teams shift from assurance centred roles, to strategic auditing.

Navin now runs a boutique advisory firm focused on strategic audit and board-level impact. He’s also the author of Getting Ready to Roar: The Modern CAE’s Guide from Audit Room to Board Room—a practical guide for audit leaders looking to stay relevant and have real influence. His other publications include AUDITMAN and Audit Committee Adviser.

He’s spoken in 15+ countries, always bringing a grounded, real-world perspective. His session, “Enhancing Board Communication for Strategic Governance,” will unpack how internal audit teams can move beyond reporting and start building real presence and credibility with the board—especially when the pressure is on, and expectations are high.

Navin continues to mentor CAEs across the region and is passionate about helping auditors communicate with clarity, confidence, and strategic insight. Expect stories, practical tools, and a few uncomfortable truths—delivered with warmth and a touch of humour.

Nur Suriya Selasiya Mohamad Omar

Head of Internal Audit, AEON Co. (M) Bhd

Nur Suriya Selasiya Mohamad Omar is an accomplished audit leader with a proven track record in driving governance transformation and embedding data analytics into audit practice.

She began her career as an external auditor with Crowe Horwath before joining AEON as an internal auditor. Her career took a strategic turn when she was transferred to the CEO’s Office under the Strategy team, where she contributed to company-wide transformation initiatives. Notably, she played a pivotal role in developing the CARA System, AEON’s centralised digital library and dashboard for SOPs. This innovation standardised and digitised over 1,200 manuals, introduced real-time tracking, and strengthened governance processes across the organisation.

In June 2023, Suriya was appointed Head of Internal Audit and spearheaded the department’s transformation to a data-driven audit function. She established a two-team structure — the Blue Team for analytics, thematic, and IT audits, and the Red Team for operational and compliance audits — ensuring a sustainable and phased adoption of analytics.

Under her leadership, the department leveraged Arbutus Analytics to perform deeper, more targeted data testing, enabling the team to uncover trends, anomalies, and potential risks that would have been difficult to detect through manual methods. By integrating analytics into the audit process, the team moved from static, sample-based reviews toward a more dynamic, insight-driven approach. Complemented by visual reporting in Power BI, this enhanced methodology improved audit efficiency, sharpened the quality of findings, and delivered databacked insights that strengthened Audit Committee confidence.

A Certified Internal Auditor and Professional Member of the Institute of Internal Auditors Malaysia (IIAM), Suriya continues to champion innovation, fostering a culture where analytics and technology empower better decision-making, risk management, and organisational resilience.

Philip Satish Rao

Governor, IIA Malaysia

Philip Rao is a Partner of Ernst & Young Consulting Sdn Bhd (EY).

With over 31 years of experience at EY, he has served various external and
internal audits, risk management and corporate governance, and corporate finance engagements apart from the experience gained through secondments in Malaysia and abroad.

Philip is the Programme Director of the EY Entrepreneur of The Year (EOY) award in Malaysia. EOY is considered the world’s most prestigious business award for entrepreneurs.

Philip was previously an Engagement Partner for numerous Corporate Governance, Internal Audit and Enterprise Risk Management (ERM) engagements in various industries, including stock exchange and capital markets, oil & gas, plantations, construction, property development, services, manufacturing, automotive, hospitality, NGOs, power and utilities among others. Philip is a regular speaker on topics relating to corporate governance, risk management and internal audit, locally and internationally. He also contributes articles on these topics. Philip is a member of the Global Institute Relations Committee 2022/2025.

Rangarajan Gangadharan

Solutions Sales Director – Diligent

Rangarajan has over 12 years of experience in the enterprise software industry, with a strong focus on Audit Management, Risk, and Analytics.

He is a technology evangelist who is passionate about helping organizations address complex challenges to create meaningful and lasting
impact. His mission is to ensure GRC functions are seamlessly integrated into an organization’s AI and digital transformation journey.

Ranjit Singh

Chairman, Axcelasia Group

Ranjit Singh has over 30 years’ experience in the fields of risk management, governance, internal audit and forensic accounting.

He has led and completed internal audit and risk management projects at more than 150 companies (PLCs, GLCs & MNCs) covering various industries. Ranjit has a truly international perspective of best practices as he has completed assignments in more than 30 countries.

He was a member of the Board of Directors of Global Institute of Internal Auditors (“IIA”) for the term 2017 to 2021. Ranjit was also a member of the Global IIA Audit Committee and IIA’s International Internal Audit Standards Board. He was the President of Asian Confederation of Institute of Internal Auditors (ACIIA) and President of the IIA Malaysia.

Ranjit has led five one-day workshops for Bursa Malaysia Berhad on risk management, internal controls and internal audit for 5 years (2013 to 2017) covering participants for more than 300 listed companies and spoke at various conferences and Board training programmes. Ranjit has appeared on TV and Radio shows including Biz talk (Astro Awani) and live on BFM’s breakfast grille programmes on the subjects of internal audit, risk and governance.

He spearheaded Axcelasia’s listing on the catalist market of SGX in 2015. Ranjit is a Chartered Accountant, and he obtained a Master of Business Administration from Heriot-Watt University, Edinburgh, UK in 1996.

Raymon Ram

Managing Principal, Graymater Forensic Advisory Sdn Bhd

Raymon is a leading advocate against economic crime, serving as Managing Principal of Graymatter Forensic Advisory Sdn. Bhd., President of Transparency International Malaysia (TI-M) and Anti-Corruption Expert (Research) with the United Nations Office on Drugs and Crime (UNODC).

He specializes in Financial Forensics, Fraud Risk Management, and AML/CFT Compliance. Raymon has led numerous corporate fraud investigations, developed national audit and anti-corruption guidelines, and facilitated anti-fraud courses for law enforcement and private sector entities.

As a Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), and ISO 37001 ABMS Lead Auditor, he is regularly involved in consultancy engagements and training programs pertaining to his areas of expertise. Raymon is currently pursuing his Doctorate in Business Administration (DBA) in Malaysia.

Ross Tilly

President, The Institute of Internal Auditors Australia

Ross is an executive at the Reserve Bank of Australia reporting to the Chair of the Audit Committee and the Deputy Governor.

He advises the Board and executives on governance, risk and control and is playing a substantial role in the various transformation programs currently underway at the Bank. Ross joined the RBA after retiring from KPMG after 37 years with that firm. Ross held a variety of management and governance roles within the KPMG partnership including the National Partner-in Charge of KPMG’s GRC Advisory practice. He was a founding partner of KPMG’s Risk Consulting division.

At KPMG he served as lead and Risk Consulting partner for a range of ASX 100 companies with global operations, along with several Commonwealth and state government GTEs. Ross has worked in geographically diverse and complex operating environments across a wide range of industries. He provided advice on a range of topics including strategic and enterprise risk management, internal control, business processes and regulatory change. Ross has significant transaction experience with those clients.

Ross is President and a Fellow of IIA Australia, he is chair of IIA-A’s Board, and several of its Board Sub-committees. He has previously served on a number of IIA Australia’s committees, including being Chair of its Audit & Risk Committee. He is a Fellow of Chartered Accountants ANZ where he is the Chair of its Risk Specialisation group and has served as a Councillor on CAANZ’s NSW Council. He is a Graduate member of AICD. He is also Treasurer and Chair of the Audit and Risk Committee of a major Sydney based not for profit organisation.

Stephan Yu

Group Chief Internal Auditor, Group Internal Audit, FWD Group

Stephan Yu is the Group Chief Internal Auditor at FWD Group, overseeing internal audit across the organization.

He previously held internal audit roles at Manulife, Sun Life Financial, Asia Satellite Telecommunications, the Hong Kong Jockey Club, and KPMG Hong Kong. Stephan also serves as a Governor of the Institute of Internal Auditors (IIA) Hong Kong Chapter.

Thanh (Alan) Nguyen

CEO, The Institute of Internal Auditors Vietnam

Thanh Nguyen is the first Vietnamese recipient of the prestigious “Emerging Leader” award, an annual recognition granted by The Institute of Internal Auditors (IIA Global) and Internal Auditor magazine to fifteen of the most promising young auditors worldwide.

This award reflects Thanh’s exceptional contributions to the internal audit profession and his leadership in the global auditing community.

With over 15 years of experience, Thanh has provided a wide range of professional services, including internal audit, compliance, risk management, internal controls, business continuity management, and US Sarbanes-Oxley (SOX) Section 404 implementation and audits for both state-owned and private enterprises.

Thanh has served as a keynote speaker for numerous training programs on risk management, business continuity management, internal controls, and codes of conduct, sponsored by renowned organizations such as the United Nations Development Program (UNDP), the UK Government, the Japan International Cooperation Agency (JICA), the Vietnam Chamber of Commerce and Industry (VCCI), and the International Finance Corporation (IFC).In addition to his speaking engagements, Thanh has delivered a wide range of training courses on internal audit, risk management, internal controls, financial management, and management accounting, including official certification courses such as the Certified Internal Auditor (CIA) and Certified Management Accountant (CMA). His training participants include senior professionals such as Heads and Deputy Heads of Internal Audit, Supervisory Board Members, Risk Managers, Chief Accountants, and Finance Directors from leading domestic and international corporations.

Thanh is also a prolific author, having contributed numerous professional articles and technical guidance published by IIA Vietnam and the International Finance Corporation (IFC), further supporting the development of the internal audit profession in Vietnam and beyond.

Thor Boon Lee

Associate Partner, Risk Consulting, Ernst & Young Consulting Sdn Bhd

Thor Boon Lee is an Associate Partner at Ernst & Young Consulting Sdn Bhd, bringing more than 15 years of leadership experience in enterprise risk management across major financial institutions.

He currently provides risk management consulting solutions, helping organizations navigate complex financial, operational, and ESG risks.

Prior to joining EY, he served as the Country Chief Risk Officer at OCBC Bank (M) Berhad from 2017 to 2025, where he led the enterprise-wide risk management framework including credit, market, operational, and ESG/climate risk. His oversight included both conventional and Islamic banking operations, with responsibilities ranging from credit approvals to business continuity planning and cyber risk mitigation.

Earlier in his career, Boon Lee was the Chief Risk Officer at Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad , where he also pioneered integrated risk frameworks for credit, investment, and operational risk. At CIMB Investment Bank/Asset Management, he held the position of Assistant General Manager and Head of Risk Management, focusing on credit, market, and investment risks within the group, providing leadership and setting directions.

Boon Lee’s comprehensive experience in risk governance, regulatory compliance, and sustainability positions him as a strategic advisor in today’s evolving risk landscape.

Varshu Karumuri

Solutions Engineer, Diligent

Varshu Karumuri is a Solutions Engineer at Diligent Corporation, where he works with organizations across Asia Pacific to strengthen the way they manage audit, risk, and compliance.

With experience supporting clients in both North America and APAC, he specializes in designing and tailoring governance, risk, and compliance (GRC) solutions that help leaders make confident, data-driven decisions. He has partnered with financial institutions, multinational corporations, and government entities to streamline risk frameworks, build actionable dashboards, and leverage analytics for greater resilience and transparency.

With a focus on bridging technology and business outcomes, Varshu is passionate about helping organizations navigate evolving regulatory landscapes and embed resilience into their operations.

HOTEL RECOMMENDATIONS

TRADERS HOTEL KUALA LUMPUR

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Room Rate:

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Stay period: 8 – 11 September 2025

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Phone: +603 2082 0333

E-mail: stay@imperiallexiskl.com

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CONCORDE HOTEL KUALA LUMPUR

An internationally renowned business-class hotel in Kuala Lumpur, Malaysia. Combining comfort, convenience, and impeccable service, they guarantee an unforgettable stay.

Promo Code: ACIIA

Address: 2 Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia

Phone: +603 2144 2200

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CORUS KLCC HOTEL KUALA LUMPUR

Nestled in the vibrant Kuala Lumpur City Centre, Corus KLCC is the perfect destination for both business and leisure travelers. Strategically located at Jalan Ampang, our hotel provides a tranquil retreat in the heart of the bustling metropolis.

Address: Persiaran Hampshire, Jalan Ampang, Kuala Lumpur, 50450, Malaysia

Phone: +603 2161 8888

Email: enquiries@corushotel-kl.com

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GRAND MILLENNIUM HOTEL KUALA LUMPUR

Grand Millennium Hotel Kuala Lumpur is a 5-star hotel located in the heart of Bukit Bintang, Kuala Lumpur’s vibrant shopping and entertainment district. The hotel features spacious and modern guest rooms, a variety of dining options, an outdoor swimming pool, fitness center, and spa facilities. Its central location makes it convenient for guests to access major attractions, shopping malls, and public transport within walking distance.

Address: 160 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia

Phone: +60 3 2117 4888

Email: enquiry@millenniumhotels.com

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ASCOTT KUALA LUMPUR

Located in the heart of the bustling Golden Triangle, Ascott Kuala Lumpur located 5 minutes from KLCC, offers luxurious serviced apartments just minutes from iconic landmarks like the Petronas Twin Towers, KL Tower, and Central Market. Guests can explore cultural hotspots, enjoy delectable street food at Petaling Street, or visit attractions like Aquaria KLCC and Merdeka Square, all within a short distance.

Address: No. 9, Jalan Pinang, 50450 Kuala Lumpur

Phone: (603) 2718 6868

Email: enquiry.kualalumpur@the-ascott.com

ASCOTT STAR KLCC KUALA LUMPUR

Nestled in the heart of Kuala Lumpur, Ascott Star KLCC is an urban oasis offering seamless access to the city’s iconic landmarks, vibrant attractions, and cultural treasures. Located near the majestic Petronas Twin Towers, guests can visit the sky bridge and enjoy stunning cityscape views. Just a stroll away are premier malls including Suria KLCC, Pavilion KL, and The Exchange TRX, alongside fine dining establishments and lively entertainment hubs. Nearby, discover art galleries, museums, historic monuments, and popular spots like Aquaria and KLCC Park.

Address: No. 1, Jalan Yap Kwan Seng, 50450 Kuala Lumpur, Malaysia

Phone: (603) 2705 8000

Email: enquiry.kualalumpur@the-ascott.com

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July 23 2020

GUIDANCE AND ADVISORY

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Guidance

And Advisory

SORMIC GUIDE 2025 & SUMMARY OF AMENDMENTS

The Statement on Risk Management and Internal Control (also known as the SORMIC) is a mandatory declaration, included in the annual reports of listed companies in Malaysia, to provide stakeholders with insights into the state of the risk management and internal control systems within listed companies.

The primary requirement for the SORMIC is set out in Paragraph 15.26(b) of BURSA’s Listing Requirements (LR). This requirement is to be read in conjunction with Main Market Practice Note 9 and ACE Market Guidance Note 11, including any updates from time to time.

The SORMIC sets out the obligations of the Board of Directors (the Board) and Management with respect to risk management and internal control and describes the processes that are considered in reviewing its effectiveness. In making the statement, the Board of a listed company is required to explain its governance framework and policies, including any special circumstances that have led it to adopt a particular policy.

The purpose of the SORMIC Guide 2025 is to facilitate the Boards of listed companies in preparing the Statement on Risk Management and Internal Control (SORMIC) for publication in annual reports.

The SORMIC Guide 2025 provides an approach for the Board of a listed company to establish sound risk management and internal control systems, enhancing governance, transparency, and stakeholder confidence. The Board is responsible for oversight, while Management ensures implementation and effectiveness of the risk Management and internal control measures adopted by the company.

The SORMIC Guide 2025 also aligns with international best practices, as set by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), International Organization for Standardization (ISO), and The Institute of Internal Auditors (IIA). These standards reinforce accountability, strengthen governance frameworks and enhance business resilience in a dynamic corporate environment.

Evolution of the Guide: The initial Guide for the Statement on Internal Control was introduced in December 2000 by an industry Task Force. It aimed to help directors of listed companies formulate their Statement on Internal Control in compliance with Bursa Malaysia Listing Requirements (Bursa LR).

Over the years, BURSA has taken significant steps to advance regulations, codes, and direction on risk management and internal control. These efforts have reshaped the frameworks underpinning SORMIC, driving transformative changes in industry practices among listed companies.

In 2012, the Guide was updated and renamed “The Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issuers”. This revision reflected the evolving regulatory landscape and growing emphasis on corporate governance, making disclosure a vital aspect of informed investment decision-making.

Since 2012, there have been amendments and impactful changes to the BURSA LR, Malaysian Code on Corporate Governance (MCCG) and related guidelines.

Building on previous versions, the SORMIC Guide 2025 incorporates BURSA current LR, relevant aspects of the MCCG practices, and globally recognised standards. It also integrates insights and data from authoritative sources to provide practical, and actionable guidance for directors of listed companies.

Acknowledgements: The Task Force behind this publication extends its sincere thanks to the regulatory agencies, company directors, professional bodies, and industry experts for their valuable contributions through focus groups and consultations which have enhanced the relevance and applicability of the SORMIC Guide 2025.

We are confident that the SORMIC Guide 2025 will provide the Board of listed companies with the guidance and tools to meet BURSA’s disclosure requirements.

Please click here to download the pdf version of the SORMIC Guide 2025 & Summary of Amendments.

FAQ INTERNAL REVIEW OF SUSTAINABILITY STATEMENT BY INTERNAL AUDITORS

In a circular dated 26 September 2022, BURSA MALAYSIA SECURITIES BERHAD (BURSA) enhanced the sustainability reporting framework to elevate the sustainability practices and disclosures of listed issuers. BURSA has, among other requirements, announced one for a Statement of Assurance to strengthen the credibility of the Sustainability Statement. A listed issuer may seek two (2) types of assurance, that is, internal review by its internal auditor or independent assurance performed in accordance with recognised assurance standards.

This directive was elaborated in the BURSA Main Market Listing Requirements (BURSA Main LR) in relation to Enhanced Sustainability Reporting Framework – Practice Note 9 Appendix 1 Part III and Appendix 2. Contents of the Sustainability Statement, Section 6.2e are to be read together with Chapter 10, BURSA Sustainability Reporting Guide 3.0. This Frequently Asked Questions (“FAQ”) document aims to provide clarity to internal auditors on the roles they have to play in reviewing the Sustainability Statement.

This FAQ, the first in a series to come, will mainly address the background of BURSA’s requirements, the planning aspects of the internal review followed by the execution of the internal review. It fosters an understanding of the processes, which will be executed in accordance with the International Professional Practices Framework (“IPPF”) 2017, issued by The Institute of Internal Auditors Inc., in order to achieve the desired consistency of quality and standards.

Please take a moment to explore this FAQ document. Should you have any questions or require additional information, we encourage you to reach out to Technical & Quality Assurance Department of The Institute of Internal Auditors Malaysia (IIAM). Together, internal auditors can continue to be an integral part of a listed issuer’s governance, risk and controls policies which includes good sustainability practices.

Please click here to download the pdf version of the FAQ Internal Review of Sustainability Statement by Internal Auditors.

GUIDANCE FOR AN EFFECTIVE INTERNAL AUDIT FUNCTION 2.0

This Guidance for an Effective Internal Audit Function 2.0 comes as a comprehensively refreshed edition to serve as a reference point for everyone who has a duty or interest to uphold the highest level of governance, risk and control in any organisation.

The Board of Directors, Chief Executive Officers, Chief Financial Officers, Management, Chief Audit Executives and every internal auditor of public interest entities, public sector organisations, and private companies and businesses would be able to capitalise on this Guidance as a catalyst to jointly achieve internal audit excellence, as well as a validation of progress achieved.

Departing from existing coverage of governance relating to regulatory requirements of public listed companies which was the mainstay of past publications, this Guidance includes perspectives on internal audit functions of the government and Shariah compliant entities and aims to provide a more inclusive view to unite the entire internal audit fraternity on universal best practices that are hinged on internationally recognised standards and publications, and nationally mandated regulations and sanctioned researches.

In the context of achieving an effective internal audit function, areas deliberated include the duties and responsibilities of various stakeholders, characteristics and requirements of an internal audit function, core principles governing internal auditors, prescribed competency framework for the further development of internal auditors, the contemporary role of internal auditors in Environmental, Social and Governance (ESG), quality assurance and improvement programmes, outsourcing and co-sourcing decisions, and performance measures of the internal audit function.

Please click here to download the pdf version of the Guidance for an Effective Audit Function (GIAF) 2.0.

Please click here to download the pdf version of the Guidance for an Effective Audit Function (GIAF) 1.0.

CORPORATE LIABILITY ON CORRUPTION UNDER SECTION 17A OF THE MALAYSIAN ANTI-CORRUPTION COMMISSION ACT 2009 (AMENDED 2018)

This Article is written with the aim of providing objective guidance and assistance to internal auditors of commercial organisations to carry out a review of their organisations’ preparedness in complying with the requirements set out under Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (amended 2018) [“MACC Act”] as well as assessing the adequacy and operating effectiveness of the organisations’ adequate procedures deployed in mitigating corruption risks. Accordingly, this Article is NOT, and should NOT be construed as, an Internal Audit Programme to conduct internal audit assignments pertaining to an organisation’s Anti-Bribery and Corruption Framework/Plan.

To enable internal auditors understand what Section 17A of the MACC Act is all about, including the Ministerial Guidelines on Adequate Procedures (“Ministerial Guidelines”), this Article is written to put into perspectives what Section 17A entails, its ramifications to commercial organisations and those charged with governance and management as well as the contents of the Ministerial Guidelines. Sections D, E and F of this Article set out the roles of Internal Audit, overview of the Ministerial Guidelines, and the suggested focus areas for Internal Auditors to consider vis-à-vis the key contents of Principles in the Ministerial Guidelines, including pertinent questions they should be posing to Management, in their audit coverage respectively.

Please click here to download the pdf version of the Corporate Liability on Corruption Under Section 17A Of The Malaysian Anti-Corruption Commission Act 2009 (Amended 2018).

Please click here to download the pdf version of the Frequently Asked Questions (‘FAQ’) on Corporate Liability on Corruption Under Section 17A Of The Malaysian Anti-Corruption Commission Act 2009 (Amended 2018).

STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL – GUIDELINES FOR DIRECTORS OF LISTED ISSUERS

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.

IIAM Webinar : Get to Know the Global Internal Audit Standards

Please click here to download the pdf version of the Statement on IIAM Webinar : Get to Know the Global Internal Audit Standards.

IIAM Webinar : WHAT THE NEW STANDARDS MEAN TO QUALITY ASSESSMENTS?

Please click here to download the pdf version of the Statement on IIAM Webinar : What the New Standards mean to Quality Assessments?.

INTERNATIONAL PROFESSIONAL PRACTICES FRAMEWORK (IPPF)

The IIA’s blueprint for the profession that offers practitioners a full range of internal audit guidance, including the Core Principles, Standards, Code of Ethics, Implementation and supplemental guidance, position papers and other resources.The International Professional Practices Framework (IPPF) is the conceptual framework that organises authoritative guidance promulgated by The Institute of Internal Auditors (IIA). A trustworthy, global, guidance-setting body, The IIA provides internal audit professionals worldwide with authoritative guidance organised in the IPPF as mandatory guidance and recommended guidance.

BAHASA MELAYU

ADDITIONAL RESOURCES

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.

INTERNAL AUDIT FREQUENTLY ASKED QUESTIONS (FAQS) ABOUT THE PROFESSION

Gain a better understanding of the internal audit profession and help others do the same. We have compiled a list of commonly asked questions for your easy reference and to share with others.

LEARN MORE

TECHNICAL ENQUIRIES

These enquiries may be submitted to technical@iiam.com.my

One of the services provided by IIA Malaysia exclusively for members is to provide technical support by assisting members with technical enquiries.

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.

June 25 2020

QUALITY ASSESSMENT SERVICES

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Quality

Assessment Services

HOW 'S YOUR DEPARTMENT DOING?

PRELIMINARY QAR READINESS ASSESSMENT

INITIAL COMPANY INQUIRY FORM

EXTERNAL ASSESSMENT

WHY IIA MALAYSIA?

QUALITY STANDARDS

GAP ASSESSMENT

DOES YOUR DEPARTMENT NEED A CHECKUP?

Preliminary QAR Readiness Assessment

How 's Your Department Doing?

INITIAL COMPANY INQUIRY FORM

EXTERNAL ASSESSMENT

QUALITY STANDARDS

Gap Assessment

WHY IIA MALAYSIA

DOES YOUR DEPARTMENT NEED A CHECKUP?

Professionalism does not occur overnight…it takes time. Professionalism is a process that evolves from dedication, high-road ethics, professional growth, and hard work. Integral to this process – and the essence of excellence in the business environment – is quality

To meet the unique needs and corporate culture of your organisation, quality needs to evolve and permeate your organisation’s structure. From the mailroom to the boardroom, quality helps ensure customer’s satisfaction, investor’s confidence, effective management, efficient administration and sound corporate performance.

To ensure consistent quality in your audit function and organisation, a Quality Assurance and Improvement Programme is necessary. The required elements are ongoing and periodic internal quality assessments, external quality assessments, internal monitoring, and assurance that the internal audit activity is in conformance with the Definition of Internal Auditing, International Standards for the Professional Practice of Internal Auditing (Standards), the Code of Ethics.

The internal audit activity conforms with the Standards when it achieves the outcomes described in the Definition of Internal Auditing, Code of Ethics, and Standards. The results of the quality assurance and improvement programme at External Assessment the results of both internal and external assessments. All internal audit activities will have the results of internal assessments. Internal audit activities in existence for at least five years will also have the results of external assessments.

Your internal quality assessment (QA) programmes are ongoing internal evaluation of the internal audit activity, coupled with periodic self- assessment and/or reviews. On the other hand, external quality assessments require an outside individual or team of independent reviewers to evaluate compliance to the Standards, the use of leading practices and the efficiency and effectiveness of the internal audit activity. Together, they create a complete picture of your audit function’s commitment to quality and professionalism.

As the internal audit profession’s acknowledged leader, recognised authority, and principal educator, IIA Malaysia is committed to quality. For more information on quality visit www.theiia.org/Quality, email technical@iiam.com.my for a Quality Assessment Preview.

Preliminary QAR Readiness Assessment

Name *

Email *

Contact Number *

Designation *

Organisation *

Date of Request for Preliminary QAR Readiness Assessment *

Quality Assessment Services
External Quality Assessment – Initial Company Inquiry Form

1. Name of Department: *

Company: *

Address: *

City, State, Zip: *

2. Name of Contact: *

Title/Designation: *

Email *

Mobile Phone: *

Fax:

3. Name of the Head of Internal Audit (if different from contact): *

4. Title of the Head of Internal Audit: *

5. Internal Audit Locations: *

Number of Auditors by Location: *

Which Locations Will Be Reviewed?: *

6. Are Work Papers Centrally Located?: *

7. Are Work Papers Automated?: *

8. Percentage of Audit Work That is Outsourced or Co-sourced?: *

9. Average Years of Audit Experience: *

10. Percent of Audit Staff with Certifications: *

11. Number of IT Auditors / Specialists: *

12. Number of Reports Issued Per Year: *

13. What Language are Reports Written in?: *

14. Types of Audits Usually Performed: (Financial, Compliance, Efficiency and Economy, Operations/Results): *

15. Standards Used (IIA, GAGAS, etc.): *

16. Company's Industry: *

17. Should QAR Team have Industry Experience?: *

Yes No

18. Proposal for Full QAR or SAIV or Both?: *

19. Who is requesting this QAR Service? *

Head of Internal Audit Audit Committee Others, please specify

Specify here:

20. Time Frame (Month and Year) to Perform the QAR: *

21. Do you have an Audit Committee or Other Oversight Group?: *

Yes No

22. If Yes, number of Audit Committees or Other Oversight Group Reported to: *

23. How Did You Hear About Our QAR Services?: *

24. Will the IIA Malaysia advice (i.e. QAR Report) be relied upon by others besides internal audit department ? *

25. Preferred Fieldwork Review Platform (Physical or Virtual) *

26. Please provide department/organisational charts for your organisation's executive management department and internal audit function.

EXTERNAL ASSESSMENT

The benefit of an organisation undergoing a external QA is that it allows the internal auditors to state that their activities “conforms with the International Standards for the Professional practice of Internal Auditing.” It also builds stakeholder confidence by documenting management’s commitment to quality and successful leading practices, and the internal auditors’ mindset for professionalism. Obtaining an external QA provides evidence to the board, management, and staff that the audit committee and the internal audit activity are concerned about the organisation’s internal controls, ethics, governance, and risk management processes.

Regardless of an organisation’s industry or the internal audit activity’s complexity or size, there are two approved approaches to external QAs:

External Assessment with Independent Validation
An independent review team would be appointed to perform the quality assurance review.
Self-Assessment with Independent Validation
The internal audit activity will have to complete the quality assessment report and an external validator substantiates some of the work done by the self-assessment team, makes an on-site visit, interviews senior management, and either co-signs the CAE’s report regarding conformance to the Standards, or issues a separate report on the disparities.

Please complete the External Quality Assessment Initial Inquiry Form in order to receive a proposal from IIA Malaysia or please e-mail technical@iiam.com.my to arrange for a Quality Assurance preview.

Our quality assessment services are customised according to the needs and requirements of our client. Due to this our proposal and pricing are unique to each client.

WHY IIA MALAYSIA ?

We are acknowledged as the leader, recognised authority and principal educator of the internal audit profession.
It is a true peer review by the world’s recognised authority on internal auditing.
Our programme has been developed and tested by internal auditors.
We provide high quality, value added services to our clients.
We also compare the present operations of your internal audit activity against leading practices, which include past QA’s done by the team leaders, in-house publications, courses, conferences and GAIN.
Our team comprises of experienced internal audit professionals who keep abreast of leading-edge technologies.
We also perform a follow up within 6 months from completing the Quality Assurance, on issues raised during the review.

Quality Assurance Tools & Resources http://www.theiia.org/guidance/quality/

GAP ASSESSMENT

QUALITY STANDARDS

1300

Quality Assurance and Improvement Programme
The chief audit executive must develop and maintain a quality assurance and improvement programme that covers all aspects of the internal audit activity.

Interpretation:
A quality assurance and improvement programme is designed to enable an evaluation of the internal audit activity’s conformance with the Definition of Internal Auditing and the Standards and an evaluation of whether internal auditors apply the Code of Ethics. The programme also assesses the efficiency and effectiveness of the internal audit activity and identifies opportunities for improvement.

The Global Internal Audit Standards (GIAS), released by The Institute of Internal Auditors (IIA) in January 2024, will become effective on 9 January 2025. These standards serve as the foundation for the professional practice of internal auditing worldwide, replacing the previous International Standards for the Professional Practice of Internal Auditing.

The GIAS are structured into 5 Domains, encompassing 15 Principles and 52 Standards, providing a comprehensive framework for internal auditors to deliver high-quality assurance and advisory services.

DOMAIN I – Purpose of Internal Auditing
Defines the role of internal auditing in enhancing an organization’s ability to create, protect, and sustain value by providing independent, objective assurance and advice.