Auditing and Assurance Standards Board (AASB)


Teoh Soo Hock 


Chang Kong Chong, Alan 
Cheah Pooi Lin, Esther 
Chen Voon Hann 
Chew Loong Jin, Kelvin 
Kho Kim Eng 
Lee Guan Tong 
Loh Kam Hian 
Ng Kim Tuck 
Ngiam Mia Teck 
Nirmala Doraisamy 
Rejeesh Balasubramaniam 
Tan Eng Hong 


Ooi Thiam Poh, Alex  (Audit Oversight Board)
Tan Lay Khoon  (Bursa Malaysia)
Yap Weng Seong, David  (Suruhanjaya Syarikat Malaysia)

Objectives and Scope

  1. Structure and Authority of the Board

    1. The Auditing and Assurance Standards Board (AASB) is an independent standard-setting body designated by, and operating under the auspices of the Malaysian Institute of Accountants (MIA or Institute).
    2. Notwithstanding clause S1.1, the AASB shall approve or withdraw AASB pronouncements and submit comments to external bodies independently, without the approval of MIA Council, subject to adherence to the following procedures:
      1. compliance with the approved AASB’s due process; and
      2. notification to the MIA Council of the pronouncement.
    3. Where in the view of the AASB, a matter is regarded to be sensitive in nature, the AASB shall inform the MIA Chief Executive Officer whereupon he/she shall use his/her discretion to decide whether a consultation with the President, Vice President or any MIA Council member who possesses the expertise to advise on the matter, is required.
  2. Objectives

    1. To serve the public interest and strengthen the accountancy profession in Malaysia.
    2. To promote adherence to high quality professional standards and furtherance of international convergence of standards.
    3. To support the accountancy profession in continuously developing and disseminating guidance for auditing and assurance services.
    4. To consider new or revised International Auditing and Assurance Standards and other pronouncements issued by the International Auditing and Assurance Standards Board (IAASB) for adoption.
    5. To review exposure drafts and other consultative documents issued by IAASB and to submit comments thereon.
    6. To consider practice guides on issues not covered by auditing standards for the application of members in the performance of their respective duties.
    7. To review and consider any other issues and developments in other jurisdictions which relate to auditing practices in Malaysia.
    8. Contributing to efforts to advance public understanding of the roles and responsibilities of external auditors and the providers of assurance services including the sponsorship of research.
    9. To speak on public interest issues where the profession’s expertise is most relevant.
  3. Responsibilities

    1. To develop an annual plan that specifies AASB’s strategic direction, priorities and agenda.
    2. To implement an effective working process for all projects and commission task forces, advisory groups or other groups, as appropriate, to aid in the development of auditing and assurance standards, guidelines or other materials.
    3. To communicate with and seek input from stakeholders on a timely basis.
    4. To advise MIA as to the adequacy of human and financial resources to accomplish the AASB’s objectives.
    5. To recommend and sponsor auditing and assurance research in Malaysia, particularly on issues that may be of relevance to the Malaysian environment.