The failure of accountants to maintain ethical behaviour while performing professional services has become an issue that has been discussed over the years. Ethics education and the environment has been proven to assist to shape the ethical behaviour of accounting students. Thus, the objective of this study was to examine whether accounting ethics courses, teaching styles, and ethical culture influence the ethical behaviour of accounting graduates in Malaysia. E-survey questionnaires were distributed to accounting graduates who graduated in 2019, 2020, and 2021 with less than three years of working experience in accounting/auditing-related fields. A total of 344 usable responses were received and it was analysed using PLS-SEM. The study found that teaching delivery and culture, had a positive and significant relationship with ethical behavior but ethics courses were found to have a positive but not significant relationship with ethical behaviour. The accounting industry should foster a positive ethical culture at work by providing ethics training and holding seminars to address ethical issues in the field in order to raise awareness and understanding of ethics. Accounting professional bodies and educational institutions should use ethics cases, short videos and role play in their teaching of ethics.

The rising corporate scandals caused by unethical accountants have concerned various parties, especially the stakeholders. These scandals, whether in public or private sectors, will impact the economy and reputation of a country. Therefore, the role of ethical accountants in providing reliable information for decision-making is a very crucial and should be addressed seriously. Thus, the education sector is believed to be one of the ways to produce graduates with good technical skills, knowledge, and high morality to make the best judgement for society. The research is conducted to assess the influence of accounting ethics education (ethics courses and teaching styles) on the ethical behaviour of accounting graduates in Malaysia. This study uses questionnaire which distributed to accounting graduates from MIA-accredited universities. 70 usable responses were received and PLS-SEM is used to analyse the data. This study found that teaching styles used in teaching ethics courses have a positive and significant relationship on the ethical behaviour of accounting graduates in Malaysia. However, ethics courses offered in the accounting program at the university was found not be significant. thus, it is suggested that lecturers need to use various methods of teaching in delivering ethics courses to enhance the ethical behaviour of accounting graduates in Malaysia.

This paper investigates the audit committee effectiveness in Government Linked Companies (GLCs) on the quality of financial reporting subsequent to GLCs transformation program. A sample of 282 GLCs was acquired to examine the some firms' characteristics with financial reporting. Results show that due to the post transformation program, there is higher number of audit committee independence which indirectly helps to reduce the level of discretionary accruals in GLCs. The GLCs transformation program provide evidence to the regulators as well as other stakeholders in evaluating the existing approach in monitoring and controlling GLCs for better improvement in formulating government policy. The study provides empirical evidence on the issue of financial reporting quality in GLCs and how the implementation of GLCs transformation program is able to have a significant impact on financial reporting in GLCs in Malaysia's setting.

Purpose: This bibliographic analysis explores the literature on measuring the quality of Management Control Systems (MCS) using the Delone and McLean Model. Design/methodology/approach: This study utilized a bibliometric analysis using data sourced from the Scopus database. By focusing on keywords related to management control system and the Delone and McLean Model in the article titles, the study identified 106 documents for indepth examination. The analysis was conducted using various tools: Microsoft Excel for frequency analysis, VOSviewer for data visualization, and Harzing’s Publish or Perish for citation metrics and analysis. Findings: The historical evolution of quality of MCS and ethical considerations provides a backdrop for understanding this relationship, highlighting key milestones and shifts in research focus over time. Through critical analysis, common themes, methodologies, and trends in the literature are identified, alongside discussions of strengths, limitations, and gaps in existing research. Synthesizing insights from diverse perspectives, this analysis elucidates the complex interplay between MCS, considering factors such as organizational culture, leadership, and regulatory environments. Research limitations/implications: The limitations of this bibliographic analysis include the potential exclusion of relevant studies not indexed in databases, variations in the quality of literature analyzed, and the challenge of establishing clear causal relationships in complex organizational contexts. Additionally, publication bias may skew the overall understanding of the relationship between MCS quality and ethical conduct, while the dynamic nature of both MCS and ethical considerations underscores the need for ongoing research to capture evolving trends and emerging challenges. Practical implications: Practical implications for organizations seeking to enhance ethical conduct through quality of MCS are discussed, alongside recommendations for future research directions. Ultimately, this study underscores the importance of understanding and addressing ethical challenges within contemporary organizations, offering insights to inform both theory and practice in the field of management and ethics. Originality/value: This bibliographic analysis provides a concise synthesis of existing research on the relationship between Management Control Systems (MCS) quality and ethical conduct, offering fresh insights and identifying key trends and gaps in the literature. Its value lies in guiding future research efforts and informing the development of strategies to promote ethical behavior within organizations.

This study examines how board of directors (BOD) and Shariah board (SB) characteristics influence risk-taking and performance in Malaysian Takaful operators (TOs). These operators face unique challenges when balancing financial growth with strict adherence to Shariah principles. The study analyse data from 15 TOs from 2012 to 2021, resulting in a total of 124 firm-years of observations using panel data regression techniques. The key findings are a higher proportion of women on BOD leads to less risk-taking, while larger SB with more PhD members encourage it. However, the impact on performance is mixed. More women on BOD might reduce returns on assets, while frequent BOD meetings and a highly qualified SB might lower return on equity. This research offers valuable insights, where investors should consider the risk-return trade-off when evaluating TOs based on BOD and SB composition while managers need to balance risk management with Shariah compliance by building diverse BOD and optimising SB structure. Industry regulators should promote sound governance practices and collaboration between BOD and SB. Overall, the study contributes to the corporate and Shariah governance literature, shedding light on the complex interplay between BOD composition, SB expertise, risk-taking and performance in a complex industry

The study objectively reports the findings on a questionnaire survey when examining the factors affecting Malaysian Private Entity Reporting Standard (MPERS) compliance in Malaysia by small and medium enterprises (SMEs). The study is based on a professional accountant questionnaire survey involving a sample of 176 respondents who are currently involved in the implementation of MPERS. The result reveals that the main factors affecting the SMEs' compliance with MPERS were the legal limitations and requirements. The study also finds that the perception, size of entities, management and accounting skills of the external user, and consideration of costs and benefits, have little impact on MPERS compliance. Furthermore, the study contributes to the literature of the financial reporting standard for SMEs by providing empirical from Malaysia's local context that uses MPERS and how the theses affect reporting practices. To adopt the 'true and fair view' financial reporting standard when explaining the firm's financial performance and financial position, this study should be the interest of regulatory authority, standard setters, and owners of SMEs themselves.

Islamic estate planning is the last process of Islamic personal financial planning which is very crucial. In the Islamic point of view, there is specific focus on the rules of estate planning for instance Faraid law. In addition, there are also several other estate planning’s instruments offered in the Malaysian market such as Hibah and Wassiyah. However, most of the literature previously found that Malaysian are lack of awareness on Islamic estate planning. Considering the potential amount of wealth owned, therefore, this study will investigate the effect of factors namely attitude, subjective norms, perceived behavioural control and Islamic estate planning knowledge towards the intention of Islamic estate planning behaviour specifically among Muslim entrepreneurs. The implications of this study are pertinent to several parties such as financial planners, practitioners, and financial institutions; provides a useful insight into the personal financial planning studies. Keywords: Islamic Estate Planning, Personal Financial Planning, Theory of Planned Behaviour, Islamic Behavioural Finance, Entrepreneurs

Malaysian Private Entity Reporting Standard (MPERS) serves as a new reporting framework to private entities and significant milestones to the capital market. This enables the entities to assert the financial statements with full compliance with the International Financial Reporting Standard (IFRS). Thus, the focus of this paper is to discuss the conceptual framework on the impact of external pressure and environmental uncertainty on the quality of financial reporting by Small and Medium Enterprises (SMEs) in Malaysia. The effect of the Covid-19 pandemic on environmental uncertainty has an impact on the quality of financial reporting. It is expected that the Malaysia’s authority and regulator will anticipate the impact of the Covid-19 pandemic, given the outbreak has created disruption in all business chains including the SMEs in Malaysia

Malaysian Private Entity Reporting Standard (MPERS) serves as a new reporting framework to private entities and significant milestones to the capital market. This enables the entities to assert the financial statements with full compliance with the International Financial Reporting Standard (IFRS). Thus, the focus of this paper is to discuss the conceptual framework on the impact of external pressure and environmental uncertainty on the quality of financial reporting by Small and Medium Enterprises (SMEs) in Malaysia. The effect of the Covid-19 pandemic on environmental uncertainty has an impact on the quality of financial reporting. It is expected that the Malaysia’s authority and regulator will anticipate the impact of the Covid-19 pandemic, given the outbreak has created disruption in all business chains including the SMEs in Malaysia.

The study reviews the relationship between corporate governance (CG) and Shariah Governance (SG) and examine how the governance concepts are handled in Takaful operators in Malaysia. The main question is how different or similar the governance concept applied in Takaful companies and make comparison between the theory and practises. This research compares studies on corporate governance and shariah governance in Takaful operators using a literature study approach. This research aims to extend the understanding of the roles played by CG and SG in their disclosure and how they contribute to the sustainability of Takaful operators. The analytical findings show that the unique contribution of Shariah governance as an additional governance measure for the purpose of Shariah compliance for the Takaful operators in Malaysia.

One of communication mechanism that used by corporations to state their focus, concerns and activities is corporate reports, such as annual report and stand-alone sustainability report. On top of mandatory reporting of financial statements, corporations use corporate reports to convey their philosophy, construct visibility and image. Integrated Reporting (IR) and Sustainability Reporting are two recent reporting frameworks that have been adopted by corporations. The corporations’ value creation process is the main focus of IR, which is based on six capitals of corporations. Sustainability Reporting is a way for a corporation to become more sustainable and focuses on economic, environmental and social aspects. The main objective of this study is to compare the two-reporting frameworks. Particularly, the suitability of the reporting frameworks for halal industry players to communicate their halal commitment and activities. This study also examined whether ESG and Halal practices can be converged based on the reporting framework. This study provides an analysis of corporate reports of a leading halal food manufacturer that is listed in Bursa Malaysia. Based on content analysis, this study highlights halal-related information in the company’s IR and Sustainability Reporting. Results from the study might provide evidence on non-financial reporting that may acts as a communication tool to the stakeholders. UtilizingIR and Sustainability reporting could build trust of capital market and society, thus ensure the sustainability of halal industry.

Financial inclusion is a priority agenda in many countries. While the importance of financial inclusion index is widely recognized, the literature lacks a constructive discussion on its measurement in the light of Islamic finance since it is believed that only by the incorporation of the Shariah-based instruments, the level of access to finance can be improved. The study aims to develop a methodology for the computation of an integrated Islamic finance-based index of financial inclusion in Malaysia. Based on the current measurement of financial inclusion index (IFI) in Malaysia, this study employs a self-administered questionnaire and secondary data from Jabatan Waqaf, Zakat dan Haji (JAWHAR) and Yayasan Waqaf Malaysia (YWM), to measure the integrated Islamic finance based financial inclusion index for year 2011 and 2015. Zakat and cash waqf indicators are added in the index computation to represent Islamic finance components. Depending on the value of the index, a country is classified into four categories; high, above average, moderate or low integrated Islamic finance-based of financial inclusion. It is found that the level of financial inclusion using Islamic finance indicator in Malaysia is above average. The overall index level is increased from 0.49 in year 2011 to 0.55 in year 2015. Interestingly, most of the level of zakat and cash waqf indicator indexes are low which indicate that these channels require specific attention to tackle financial inclusion in Malaysia. It is hoped that the findings would be useful for the development of financial inclusion index using Islamic finance approach and monitoring the impact of zakat and waqf to the society.

Halal market becomes one of the most profitable market at present and has shown promising growth particularly in Malaysia. The concept of halal is not only limited to food consumption, but also covers halal tourism which consists of halal hotels, halal transport (airlines), halal restaurants, halal tour packages and halal finance. Majority of tourists got information through travel websites, social media, blogs, travel agencies and advertising. This signifies the importance of digital marketing as the internet has changed the way people communicating and interacting with each other. This study aims to explore the concept of digital marketing and its potential in enhancing marketing strategies for halal tourism provider based on critical review of literature. Halal tourism providers have been encouraged to improve their tourism promotion signifying the importance of digital promotion to increase global outreach of halal tourism services.

This paper aims to examine the impact of Board of Directors (BOD) and Shariah Supervisory Board (SSB) characteristics on the performance of Malaysian and Indonesian Takaful Operators (TOs). We manually collected data on BOD characteristics (size, independence of directors and women's representation) and SSB characteristics (size, women's representation, and doctoral degrees) from the annual reports of 27 TOs in Malaysia and Indonesia from 2015 to 2022. This study uses panel data analysis as its empirical approach. Specifically, the study uses generalised least square (GLS) random-effect regression. The study highlights several interesting findings: (1) larger board size and the presence of female directors impact performance negatively; (2) board independence increases performance; (3) However, large SSBs tend to increase performance; and (4) Female scholars in the SSB negatively impact the performance of the TOs.

This study employs the upper echelons theory to examine the factors that influence the financial performance of cooperatives in Malaysia. Specifically, three factors are selected in this study, namely board size, female directors, and ownership dispersion, in relation to the financial performance of the cooperatives in Malaysia. In this study, a content analysis was performed on 145 cooperatives’ annual reports. This study shows that the number of board members has no effect on the financial performance of the cooperatives, indicating that a small board with knowledgeable members can also outperform a larger board with less expertise. This study also shows that female directors do no impact on the financial performance of cooperatives. Finally, this study demonstrates that the disbursement of members in the cooperatives has no effect on their financial performance. The findings in this study provide a relevant perspective on the financial performance of cooperatives that can help regulators understand and provide proper guidance to the cooperatives. This study also provides empirical evidence on the relationship between board size, female directors, ownership dispersion, and the financial performance of the co-operatives, adding to the financial reporting literature.

This case study analyze does the sustainability reporting measure enable ESG greenwashing for an oil and gas company in Malaysia. Based on relevant literature sourced from publicly accessible databases, assumptions for identifying occurrences of greenwashing have been categorized for analysis. This qualitative and exploratory study utilizes thematic analysis of company disclosures and information obtained from publicly available sources. The findings supported the hypothesis that there would be greenwashing in connection with sustainability reporting. The findings also showed that there is little influence of the independent report verification process in thwarting this possible practice. This study adopts an interdisciplinary approach, analyzing publicly available information from 2020 until recently and comparing it with the content of sustainability reports. The main finding shows that regardless of the determination of greenwashing in this particular case, there are elements within the company's sustainability reports that could be interpreted as greenwashing, Analyzing this information from different angles can improve comprehension of sustainability reporting and prompt consideration of the importance of ESG communication, underscoring the necessity for better disclosure of non-financial data.

High reliance on debt proved contributes to the downfalls of large U.S. corporations such as Enron (2001), Lehman Brothers (2008) as well as during the 2009 Greek depression. Given the current uncertainty in the global economic condition, it is important to examine the return from debt in order to ascertain the optimal use of debt. Thus, this paper aims to assess the impact of the debt level on the performance of Shariah-approved firms listed on Bursa Malaysia. Various studies have been conducted to explain the influence of debt on the firm’s performance, given different sets of periods, countries, methodologies as well as the selection of the variables. However, less attention is given to the Shariah approved firms. Uniquely, this study focuses on the consistent Shariah approved firms only, for the period of 2000 to 2014 according to Malaysia’s Securities Commission. Our main explanatory variable is debt ratio and several firm characteristics, industry characteristics, as well as economic variables, are chosen as a controlled variable. ROA is chosen as a firms performance proxy. This study employs a panel linear regression model which includes the pooled OLS, random effect model (REM) and fixed effect model (FEM). Our analysis proved that debt is not a robust determinant to determine the performance of Shariah approved firms in Malaysia. However, several controlled variables such as growth, size and Z-score are found robust to determine Shariah approved firms’ performance. Our analysis also found that there is a variation in terms of debt structure of the Shariah approved firms in Malaysia and our further analysis revealed that variation in debt structure contributes differently to the performance of the firms. The output from this study provides new insight and understanding in determining the relationship between performance and debt of Shariah approved firm in Malaysia specifically. This study largely contributes in terms of the sampling selection in which a firm must be consistently Shariah approved during the period of analysis.

The objectives of this paper are: to examine the moderating effect of government ownership on the relationship between women directors and corporate social responsibility (CSR) disclosure; and to study the moderating effect of politicians on boards on the relationship between women directors and corporate social responsibility (CSR) disclosure. This paper gathered information from companies’ annual reports for the year 2013. From a sample of 300 non-financial companies listed on Bursa Malaysia, this paper found that government ownership positively moderates women directors’ effect on CSR disclosure, while politicians on boards negatively moderate the effect. Results of this study add to the literature on factors influencing women directors in their process of making decisions from the view of a developing country. As different variables of political connections affect CSR disclosure differently, companies may decide the most suitable situations to adapt to ensure the companies can perform at its best. The findings may further alert policy makers to establish special provision of the appointment on board of directors with political interest. KEYWORDS Political connection; women directors; government ownership; politicians on board; CSR disclosure

This study aims to examine to what extent and how effective Islamic Accounting and Finance education sustainability has been at the university level. The integration of element sustainability into the curriculum has received increasing concern over the years as the debate continue being discussed into recognizing the Islamic Accounting and Finance education to be linked with the professional market. Thus, it is very important to explore the extent of sustainability of Islamic Accounting and Finance in the curriculum as to be at par with the emerging field of ecological economics and understanding the new concept of business role in this technological advance society as the emergence of terms such as Big Data, Blockchain, Cryptocurrency represents the challenges facing by the graduates recently. This paper presents a quantitative study through online surveys to determine the perceptions by graduates on the extent and adequacy of Islamic Accounting and Finance sustainability in their syllabus conducted at their universities. There is consensus from the participants on the current state of sustainability education within the Malaysia universities of Islamic Accounting and Finance courses. However, the findings highlighted that the integration is not wide enough, and the sustainability is not in sufficient depth. In addition, the findings reflected that it is significant for sustainability to be included in the syllabus at Malaysia universities. Based on the research findings, it appears that the inclusion of Financial Technology (Fintech) ecosystem play roles in sustaining the Islamic Accounting and Finance education to stay relevant in reducing the number of talent shortage in Malaysia. The role of academicians plays important role in integrating the sustainability at universities and there has been lacking evidences that show work performed on the current state of sustainability in Islamic Accounting and Finance education in Malaysian universities. Given the future challenges that will be face by the future graduates, thus it is important at the education level to equip the graduates to meet the demands by the industry. This study provides perceptions at graduate’s level as this is very crucial area to know their perspective on the sustainable of Islamic Accounting and Finance curriculum for further development can be made in meeting the challenges they are facing with the industry demand.

This study aims to contribute to an understanding of politically connected audit committees on audit fees in an emerging market, using the case of Malaysia. Malaysia offers an interesting and important setting as Malaysian companies are highly concentrated and politically sensitive. In particular, the study seeks to examine the level of political connections represented in the audit committees associated with the level of audit fees incurred by Malaysian public listed companies. For the purpose of this study, a quantitative approach (archival data analysis) has been adopted. Three hypotheses are tested: (1) There is a positive relationship between the proportion of audit committee members who are senior government officers (SGO) and audit fees; (2) There is a positive relationship between the proportions of audit committee members who are politicians and audit fees; (3) There is a positive relationship between audit committee characteristics (independence, size, meeting and financial expertise) and audit fees. The results of the study indicate that politically connected audit committees (identified by members who are either senior government officers or politicians) have a significant association with the incidence of higher audit fees. This suggests that politically connected audit committees are able to capitalize on their connections to influence companies and create direct demand for the auditors to increase their audit effort, as measured by audit fees. One of the issues that emerge from these findings is that companies highly value political connections to obtain external resources given the uncertainties in the business environment. Also, the findings highlight the need for stronger corporate governance to mitigate the higher inherent audit risks in politically connected companies.