SETTING THE RIGHT TONE 29 MARCH 2016

Transcription

1 8 POINTS IIA MALAYSIA CPD SETTING THE RIGHT TONE 29 MARCH 2016 Audit Committee Conference MARCH 2016, NEXUS, BANGSAR SOUTH, KUALA LUMPUR Escalating demands for better governance and accountability from stakeholders has transformed the role of Audit Committee from one of historic compliance to an arduous position of watchdog and steward. The Audit Committee of modern organisations is expected to play a leadership role in setting expectations and directions to ensure governance, risks and controls are being effectively monitored. Compellingly, recent global corporate governance failures indicate the urgency of appointing Audit Committees which are capable, independent and effective. Indeed, it is becoming increasingly critical to retool organisation culture to enhance the level and quality of disclosures, in order to elevate corporate transparency and governance practices. The 2015 Analysis of Corporate Governance Disclosures in Annual Reports conducted by Bursa Malaysia, with particular reference to Principle 3 (Reinforce Independence) and Principle 6 (Recognise and Manage Risk) revealed that disclosures while adequate could be further improved. Undoubtedly, the Audit Committee cannot work alone, and must harness key resources such as internal audit. As such, the Audit Committee sets the tone on the criticality of internal audit as a function vital to good corporate health. It is high time that internal audit be recognised as a provider of assurance, advice and insights that adds value to the organisation. BENEFITS OF ATTENDING Gain first-hand insights from business leaders into the latest corporate governance intelligence and audit best practices. Delegates will be able to benefit from the following: Learn best practices from other practitioners Explore ideas and effective solutions to enhancing governance in an increasingly complex business environment Keep up-to-date with the latest developments in the field and adjust one s focus appropriately to suit the individual circumstances of your organisation and business needs. WHO SHOULD ATTEND This Conference is specifically for Audit Committee members. However, internal auditors, C-suite executives, aspiring directors and potential future members of the Audit Committee are encouraged to attend as well. Supported By: Media Partner: Send your registration today to sp@mia.org.my or fax to

2 SPEAKERS PROFILE Datuk Azlan Abdul Karim Datuk Azlan Abdul Karim started his career with Putrajaya Holdings in May 1996, as the General Manager Operations and then as Senior General Manager Project Coordination in His task then was to head and administrate the planning and coordination of the overall Putrajaya project development. As the CEO of the master developer of Putrajaya, he leads and manages a multi discipline project team for the planning and implementation of the overall development of Putrajaya. The multi billion ringgit development is the largest integrated urban development project in the history of Malaysia initiated by the Federal Government combining government, commerce and residential community in a unique setting. Dato Azmi Mohd Ali Dato Azmi Mohd Ali, is the Senior Partner of Azmi & Associates, a corporate and commercial-based law firm of close to 70 lawyers, in Kuala Lumpur, Malaysia. He is an experienced corporate lawyer with extensive expertise in areas of mergers and acquisitions, joint ventures, cross-border transactions, corporate restructuring, project finance, privatization, debt restructurings, energy, oil and gas. Prior to becoming a corporate lawyer in 1991, Azmi spent 6 years as an in-house counsel of PETRONAS. He has served as a Director of Sime Darby Berhad for more than 5 years. He is presently a director of Chemical Company of Malaysia Berhad and Perbadanan Nasional Berhad (PNS), a Government-owned company providing finance for franchise business. He has served as an Adjunct Professor of Law at the International Islamic University of Malaysia s Law Faculty for two years. Currently, he is an Adjunct Professor of University Kebangsaan Malaysia s Law Faculty. Dato' Mohammad Faiz Azmi Dato' Mohammad Faiz Azmi was elected as MIA President on 27 July He is the Executive Chairman of PriceWaterhouse Coopers (PwC) Malaysia. He is the past Chairman of the Malaysian Accounting Standards Board (MASB) and a Council Member of The Malaysian Institute of Certified Public Accountants (MICPA). In addition, he is a member of The Association of Chartered Islamic Finance Professionals Malaysia and chairs the Asian-Oceania Standard-Setters Group on Islamic Finance, a member of the International Accounting Standards Board, Committee on Islamic Product/Finance. He was educated in Malaysia and UK and read law at the University of Durham before being called to the English Bar. He is also a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Liveryman of the city of London, and a member of the Worshipful Company of Chartered Accountants England and Wales. Dato Shabaruddin Ibrahim Dato Shabaruddin has over 30 years of working experience mostly at top management positions in multinational corporation, government linked companies, public listed companies and private sector. He was with KPMG Melbourne and Kuala Lumpur, Petroliam Nasional Berhad (PETRONAS) Group, KUB Malaysia Berhad and Eden Inc Berhad. He was Group Chief Internal Auditor of PETRONAS, a member of PETRONAS Internal Audit Management Committee and Secretary to PETRONAS Board Audit Committee. Currently he is Chairman to Board Audit Committee of Teknologi Tenaga Perlis Consortium Sdn Bhd, a subsidiary of Pesaka Ventures Sdn Bhd and Group Chief Executive Officer of Pesaka Ventures Sdn Bhd. Currently, Dato is a President of The Institute of Internal Auditors Malaysia. Datin Sunita Rajakumar Datin Sunita Rajakumar is a non-executive independent director at 3 companies - Caring Pharmacy (where she is also Chairperson), Hai-O Enterprise and Hibiscus Petroleum - and she is also the Chair of the Audit and Risk Management Committees. Her corporate career of over 26 years began at Ernst & Young (London) and RHB Investment Bank, before she established her own firm to manage a government-owned foreign technology venture fund and consulted on national competitiveness by improving national innovation ecosystems. Datin Sunita also sits on the board of trustees of 4 charity foundations and is the festival director of a Kuala Lumpur performing arts festival. She holds a degree in Law (LLB Hons) from University Bristol and qualified as a Member of the Institute of Chartered Accountants of England and Wales in 1994.

3 SPEAKERS PROFILE Kasturi Nathan Kasturi Nathan is a Partner of KPMG Advisory, leading Governance & Sustainability within the Internal Audit, Risk and Compliance Services ( IARCS ) practice. Kasturi is a Chartered Accountant with the Malaysian Institute of Accountants and is a fellow member of CPA Australia. Kasturi has a successful track record as a corporate governance, risk advisory and sustainability service leader in KPMG and is a trained facilitator. Her unprecedented work practice of 18 months in KPMG Japan, gave her the impetus and mileage for great achievements in the field of risk and governance for global conglomerates in the region. Lee Tuck Heng Lee Tuck Heng who was previously the Joint Assurance Leader for PwC Malaysia, has recently taken on the role of Risk & Quality Leader for the Malaysian firm. He brings with him more than 30 years of audit experience, including a two-year secondment in PwC UK. Over the years, his portfolio of audit clients includes many Bursa Malaysia Main Board companies and multinational corporations. Within the business advisory sphere, his experience encompass financial and management organisation reviews, profitability improvement as well as business plans and strategic planning. He has been involved in numerous due diligence reviews, profit forecasts and business acquisition reviews in Malaysia and abroad. He is a Council Member of MICPA and Chairman of the Auditing & Assurance Standards Board of MIA. Leong Wai Leng Leong Wai Leng is the General Manager & Head of Corporate Surveillance of the SC and was previously the Head of Inspection in Audit Oversight Board. She has served the SC more than 17 years and has extensive experience in the field of accounting and securities market regulation. She is also a MIA Council member. Leong Wai Leng holds a Bachelor Honours Degree in Accounting from University Malaya. She is a member of the MIA and The Malaysian Institute of Certified Public Accountants (MICPA). Philip Satish Rao Philip Satish Rao is a Partner with the Risk Services practice in Malaysia and the Ernst & Young ASEAN Risk Services. He is also the Director of the Ernst & Young Entrepreneur Of The Year (EOY) award programme in Malaysia. The Ernst & Young Entrepreneur Of The Year is the world s most prestigious business award for entrepreneurs. It encourages entrepreneurial activity among those with potential and recognises the contribution of those who inspire others with their vision, leadership and achievement. He also sits on the Board of Governors of IIA Malaysia. Wee Hock Kee Wee Hock Kee is a Managing Partner of CG Board Asia Pacific providing learning & leadership development in governance, risk management and internal control (GRC). He began his career as an Internal Auditor in 1985 in Fraser & Neave before leaving in 1987 to join ICI Holdings (M) Sdn Bhd where he held the position of Audit Manager. He left ICI Holdings (M) Sdn Bhd in 1992 and was attached with Guinness Anchor Berhad in the same year. In 1994, he joined Cycle and Carriage Singapore and spent 2 years working in the company as the Chief Internal Auditor for the Group. Within a span of 20 years he rose to the position of Regional Audit Director in AstraZeneca Plc ( AZ ) for Asia Pacific, Middle East and Africa in mid-1998.

4 PROGRAMME OUTLINE (29 March 2016, Tuesday) TIMES PROGRAMME 8:00am 9:00am 9:10am WELCOME ADDRESS KEYNOTE ADDRESS Keynote Address by Guest of Honour 9:30am SESSION 1 GOVERNANCE IN AN ORGANISATION: WHAT THE SURVEY TELLS US A recent survey on corporate governance practices in Malaysia concluded that more than 180 listed firms are guilty of improper compliance, signalling that independent directors are not up to the mark. This session debates the key implications of the Survey s findings. 10:15am SPEAKER: Kasturi Nathan, Partner, Governance and Sustainability, KPMG Management & Risk Consulting Sdn Bhd 11:00am SESSION 2 SETTING THE RIGHT TONE How can organisations reform their processes to embed a culture of good governance? To set the right tone, it is imperative that organisations ensure the independence of the Audit Committee. This session explores the emerging ethical issues facing the board and advises independent directors on how to draw the lines between business decisions and operational matters to preserve their independence and defend good governance. 12:30pm MODERATOR: Philip Satish Rao, Partner Ernst & Young Advisory Services Sdn. Bhd., Governor and Immediate Past President, IIA Malaysia - Tun Zaki Tun Azmi, Chairman, Astro Malaysia Holdings Bhd - Datuk Azlan Abdul Karim, Chief Executive Officer, Putrajaya Holdings Sdn Bhd - Dato' Mohammad Faiz Azmi, President, Malaysian Institute of Accountants - Wee Hock Kee, Managing Partner of CG Board Asia Pacific 2:00pm SESSION 3 HEIGHTENING GOVERNANCE THROUGH SIGNIFICANT MATTERS The MIA has issued new and revised auditor reporting standards which are set to enhance the informative value of the auditors report by providing further insights into the audit of the financial statements of an entity. 3:30pm LUNCH In light of the above developments, Bursa Malaysia has reviewed the listing requirements and proposed certain enhancements to promote greater transparency of material matters highlighted in the auditor s report and to strengthen the role of the audit committee when it reviews financial statements. One of the proposals is to require the audit committee to review and discuss significant matters during the financial year, including financial reporting issues, significant management judgements, significant and unusual events or transactions, and how these matters are addressed. This critical session which will address the necessary checks and balance to be put in place to ensure that such information, particularly significant statements of beliefs and judgements made by management, is reviewed and adequately addressed, and how to best discharge Board oversight to optimise good governance and market confidence. - Lee Tuck Heng, Chairman, Auditing & Assurance Standards Board (AASB), Malaysian Institute Of Accountants - Leong Wai Leng, General Manager & Head of Corporate Surveillance, Securities Commission - Datin Sunita Rajakumar, Chair, Audit Committee of several Public Listed Companies AFTERNOON REFRESHMENTS AND NETWORKING 4:00pm SESSION 4 RESPONSIBILITY, ACCOUNTABILITY AND LIABILITY OF AUDIT COMMITTEE - A LEGAL PERSPECTIVE It is imperative that audit committees understand their oversight roles and responsibilities in order to advocate good governance, and to defend themselves from litigation risks as stakeholder expectations are heightened and the Malaysian market matures. This session aims to enhance the competence of independent audit directors by discussing: 5:00pm 5:10pm REGISTRATION AND WELCOME REFRESHMENTS MORNING REFRESHMENTS AND NETWORKING The Functions of the Audit Committee, The Terms of Reference of the Audit Committee, The Liabilities of the Audit Committee, and How best to convey the Audit Committee s mandate to management. MODERATOR: Dato Shabaruddin Ibrahim, President, IIA Malaysia - YM Raja Dato Idris Raja Kamaruddin, Chairman Kumpulan Perangsang Selangor - Datuk Mohd Anwar Yahya, Advisor to PwC Malaysia on Public Sector and Head of the Capital Projects & Infrastructure Group - Dato Azmi Mohd Ali, Senior Partner, Azmi & Associates CLOSING SPEECH END OF CONFERENCE

5 REGISTRATION FORM Please the appropriate checkboxes. PARTICIPANTS DETAILS Participant 1 - Full name as per I/C (Dato /Datin/Dr/Mr/Mrs/Ms): Participant 2 - Full name as per I/C (Dato /Datin/Dr/Mr/Mrs/Ms): For members, please tick where applicable: Participant Association IIA Malaysia Member MIA Member ACCA Member FPLC Member KPMG ACI Member ICAEW Member MAICSA Member IBFIM Member Boardroom s Client / Associates Participant 3 - Full name as per I/C (Dato /Datin/Dr/Mr/Mrs/Ms): ORGANISATION S DETAILS Organisation: Industry: Contact Person: Address: Tel: Fax: SIGNATURE & COMPANY CHOP PAYMENT DETAILS Payment by Cheque Bank & Cheque No : Amount RM : Payment by Credit Card Visa Cardholder s Name : Card No : Expiry Date: I Authorise Payment RM: Master CONFERENCE FEES NORMAL Member : RM1,007 Non-member : RM1,219 GROUP (3 pax and above from the same organisation) RM848 per pax All fees are inclusive of 6% GST. COURSE DATE, VENUE AND CONTACTS 29 March 2016 Nexus, Bangsar South, Kuala Lumpur For registration please send directly to Malaysian Institute of Accountants Contact : Pugal Tel : Fax : sp@mia.org.my Address : Malaysian Institute of Accountants Dewan Akauntan No.2, Jalan Tun Sambantahan 3, Brickfields, Kuala Lumpur. Contact : Faiz Tel : ext 109/111 Fax : conference@iiam.com.my Address : The Institute of Internal Auditors Malaysia , Kompleks Maluri, Jalan Jejaka, Taman Maluri Kuala Lumpur. Cardholder s Signature Date Important Note: Registration is on a first-come-first-served basis. Only fully completed registration form will be processed. TERMS & CONDITIONS PROGRAM FEE Fee is payable to MALAYSIAN INSTITUTE OF ACCOUNTANTS. Fee includes course materials, lunch and 2 tea breaks per day. Full payment of the above amount shall be made within thirty (30 ), days from the date of invoice or on the day of event, whichever earlier. Admitance may be denied upon failure to make full payment as per the above requirement. CANCELLATION / TRANSFER Upon registering, participant(s) are considered successfully enrolled in the event. Should participant(s) decide to cancel / transfer their enrolement, a cancellation / transfer policy shall be applied as follows. a) Written cancellation / transfer received less than five (5) working days from the date of event: - A refund (less adminstrative charge of 20%) will be made - Unpaid registration will also be liable for 20% admistrative charges b) Written cancellation / no show on the day of programme: - No refund will be entertained - Unpaid registrators will also be liable for full payment of the registration fee - Partial cancellation is not allowed You can substitute an alternate participant if you wish to aviod cancellation / transfer charges. Any differences in fees will be charged accordingly. Please select the participants classification carefully as it determines the fee payable. No alteration will be allowed after the registration is accepted. Terms and conditions apply. CERTIFICATE OF ATTENDANCE AND CPE/CPD HOURS Upon full attendance of the Conference, participants will be issued an E-certificate. Participants will receive an with a download link and are required to download the e-certificate within 30 days. For this purpose, it is COMPULSORY to fill in the address clearly. For MIA members the CPE hours will be credited into the Membership System within 2 weeks of the event DATA PROTECTION Personal Data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709) DISCLAIMER The Organisers reserve the right to change speaker(s), data(s) and to cancel the programme should circumstances beyond its control arises. The organisers also reserve the right to make alternative arrangement without prior notice should it be necessary to do so. Upon signing the registration form, you are deemed to have read and accepted the terms and conditions.