The Audit Oversight Board (AOB) is established under Part IIIA of the Securities Commission Act 1993. Part IIIA was incorporated into the Securities Commission Act 1993 by virtue of the Securities Commission Amendment Act 2010 (the Act).

The Act shall come into force on 1 April 2010

The AOB’s mission is to assist the Securities Commission (SC) in overseeing the auditors of public interest entities and to protect the interests of investors by promoting confidence in the quality and reliability of audited financial statements of public interest entities.

The AOB will do this by:

  • registering auditors of public interest entities; and
  • conducting inspections and monitoring programmes on registered auditors to assess the extent of their compliance with recognized auditing and ethical standards.

The AOB is also empowered by the Act to sanction any registered auditors for failure to comply with any provisions in Part III A of the Act, notices or guidelines issues by the SC.

The AOB will work together with other relevant regulatory agencies such as the Companies Commission of Malaysia, Bank Negara Malaysia and the Malaysian Institute of Accountants to ensure that there is in place a holistic regulatory framework for auditors in Malaysia, which will promote the growth of the Malaysian auditing profession with good governance.

The first phase to its mission to promote good governance of the auditing profession will be to register auditors who are engaged by a public interest entity on or after 1 April 2010 to audit the public interest entity’s financial statements

To facilitate the registration of auditors please refer to the following documents:

Queries pertaining to the AOB can be directed to or 03-62048990.