The ACGA, in its “CG Watch 2023” market rankings report, retained Malaysia’s position at 5^th placing, with improvements recorded in six out of the seven assessment categories.

Malaysia ranks first out of the 12 markets for quality of auditors and audit regulators, which is also the country’s best performing category, followed by the strength of our corporate governance rules and adoption of corporate governance practices by the listed companies.

In the latter two categories, Malaysia was ranked 2^nd, after Australia.

In terms of the regulator category, the SC was recognised for among others, effective communication on our enforcement action.

The SC Chairman Dato’ Seri Dr. Awang Adek Hussin said, “This is a positive outcome for Malaysia, especially our leading position across the markets in terms of auditors and audit regulators.”

“It is also a strong recognition of the Audit Oversight Board’s role in promoting audit quality. Good corporate governance will remain a priority for the SC and we will continue to act on areas which require reinforcement,” he said.

ACGA will be releasing the individual country reports in the coming months, with more details on the assessment observations.