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Development of auditing in Malaysia: legal, political and historical influences

Author

Listed:
  • Azham, Ali
  • Teck Heang, Lee
  • Yusof, Nor Zalina
  • Ojo, Marianne

Abstract

This work investigates the role and contribution of external auditing as practised in the Malaysian society during the forty year period from independence in 1957 to just before the onset of the Asian Financial Crisis in 1997. It applies the political economic theory introduced by Tinker (1980) and refined by Cooper & Sherer (1984), which focuses on the social relations aspects of professional activity rather than economic forces alone. In a case study format where qualitative data was gathered mainly from primary and secondary source materials, the study found that the function of auditing in the Malaysian society in most cases is devoid of any essence of mission; instead it is created, shaped and transformed by the pressures which give rise to its development over time. The largely insignificant role that it serves is intertwined within the contexts in which it operates.

Suggested Citation

  • Azham, Ali & Teck Heang, Lee & Yusof, Nor Zalina & Ojo, Marianne, 2007. "Development of auditing in Malaysia: legal, political and historical influences," MPRA Paper 28138, University Library of Munich, Germany, revised 17 Jan 2011.
    • Handle: RePEc:pra:mprapa:28138
    as

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    File URL: https://mpra.ub.uni-muenchen.de/69296/1/MPRA_paper_28138.pdf
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    References listed on IDEAS

    as
    1. Cooper, David J. & Sherer, Michael J., 1984. "The value of corporate accounting reports: Arguments for a political economy of accounting," Accounting, Organizations and Society, Elsevier, vol. 9(3-4), pages 207-232, October.
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    4. Lehman, Cheryl & Tinker, Tony, 1987. "The "real" cultural significance of accounts," Accounting, Organizations and Society, Elsevier, vol. 12(5), pages 503-522, August.
    5. Trevor Hopper & Andrew Powell, 1985. "Making Sense Of Research Into The Organizational And Social Aspects Of Management Accounting: A Review Of Its Underlying Assumptions [1]," Journal of Management Studies, Wiley Blackwell, vol. 22(5), pages 429-465, September.
    6. Barreiros, Lídia., 1985. "Towards social accounting," ILO Working Papers 992431063402676, International Labour Organization.
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    More about this item

    Keywords

    external audit; Malaysia; politics; history; economy; Companies Act 1965; Companies Act 1985; British Companies Acts; Accountants Act 1967; Asian Financial Crisis;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting
    • G01 - Financial Economics - - General - - - Financial Crises

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