Kuala Lumpur, 1 April 2010

SC Names Audit Oversight Board Executive Chairman and Members

The Securities Commission Malaysia (SC) today announced the appointment of Encik Nik Mohd Hasyudeen Yusoff as the Executive Chairman of the Audit Oversight Board (AOB), effective immediately.

The AOB, established pursuant to the recently gazetted Securities Commission Amendment Act, will oversee the auditors of Public Interest Entities (PIEs), protecting investors’ interest and promoting confidence in the quality and reliability of audited financial statements of PIEs. The AOB commenced operations today.

Encik Nik Hasyudeen, brings with him 23 years of industry experience and international exposure.

Prior to joining the AOB, he was the CEO and Thought Leader of Inovastra Sdn Bhd, a strategic business advisory practice based in Kuala Lumpur. He was also Vice-President of the ASEAN Federation of Accountants and a member of CPA Australia’s Public Practice Advisory Committee.

He was the President of the Malaysian Institute of Accountants, served on the Malaysian Accounting Standards Board and was a member of the Board and Strategy Committee of the Confederation of Asian and Pacific Accountants.

Encik Nik Hasyudeen was a member of the Professional Development Panel of the International Centre for Education in Islamic Finance. He currently sits on the advisory boards of Universiti Sains Malaysia’s Graduate School of Business and Universiti Malaya’s  Faculty of Business and Accountancy.

The SC also wishes to announce the appointment of 6 non-executive members of the AOB. They are:

  • Datuk Ali Abdul Kadir, Chairman, Financial Reporting Foundation
  • Puan Nor Shamsiah Mohd Yunus, Assistant Governor, Bank Negara Malaysia
  • Mr Goh Ching Yin, Executive Director, Strategy and Development, SC
  • Dato’ Azmi Ariffin, Chief Executive Officer, Companies Commission of Malaysia
  • Mr Cheong Kee Fong, Partner, Cheong Kee Fong & Co
  • Ms Chok Kwee Bee, Managing Director, Teak Capital Sdn Bhd