The likelihood of Fraudulent Financial Reporting: the new implementation of Malaysian Code of Corporate Governance (MCCG) 2017 / Siti Fadilah Mat Zin and Marziana Madah Marzuki

Mat Zin, Siti Fadilah and Marzuki, Marziana Madah (2019) The likelihood of Fraudulent Financial Reporting: the new implementation of Malaysian Code of Corporate Governance (MCCG) 2017 / Siti Fadilah Mat Zin and Marziana Madah Marzuki. In: ICAM2019 – International Conference on Accounting and Management. Faculty of Accountancy, Universiti Teknologi MARA Puncak Alam, Selangor, p. 117. ISBN 978-967-17038-0-9

Abstract

Fraudulent Financial Reporting (FFR) gave social and economic concern due to the impact not only to the country itself but also to the other countries. World saw the largest collapsed of big company of US Enron Corporation (US), Worldcom (US), Parmalat (Italy) and many other countries. Malaysia also faced the corporate collapsed where the largest express air cargo Transmile Group fall into bankruptcy in 2007 resulted loss in market capitalisation of 1.2 billion in 2007, Megan Media, Port Klang Free Zone (PKFZ) and the recent controversial case 1 Malaysia Development Berhad (1MDB). Malaysia has issued new revision of MCCG 2017 as part of the effort to combat fraud. Nevertheless there is less evidence on how far this new amendment of MCCG 2017 can preventing fraud from happen. Therefore the objective of this study is to analyze the new changes of MCCG 2017 which are board diversity and board remuneration and investigate the extent of its impact to the practice of companies in Malaysia. This study uses content analysis of MCCG 2017, previous literatures and disclosure provided in the annual report of the listed companies. The result of this study will provide the theoretical support on the impact of the MCCG 2017 in preventing fraud in Malaysia.

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