The Practice of Board Delegation of CLBG in Malaysia-Decision Making, Regulatory Compliance and Disclosure
DOI:
https://doi.org/10.21834/ebpj.v7i21.3708Keywords:
Delegation, CLBG, Committee, AccountabilityAbstract
This paper explored the Board's delegation practices in Malaysia's company limited by guarantee (CLBG). It investigated the decision-making process, regulatory compliance, and disclosure of the Board's functions in promoting transparency to the stakeholder/public. The methodology involves a survey from CLBG. The study used a correlation analysis to determine the significant determinants of board delegation practices. The results showed that decision-making processes and disclosure of information in annual reports or websites could show the delegation role of the Board of directors. However, the sample only covers 20 CLBGs in Klang Valley and Selangor as the pilot study.
References
A.Lupia (2016) Ansari, N. (2010). Recommendations for Improved Nonprofit Board Member Recruitment and Retention. Written for: American Lung Association. Academy of management review, 35(1), 67-92.
Bushee, B. J., Matsumoto, D. A., & Miller, G. S. (2003). Open versus closed conference calls: the determinants and effects of broadening access to disclosure Journal of accounting and economics, 34(1-3), 149-180
Chau, G. K., & Gray, S. J. (2002). Ownership structure and voluntary corporate disclosure in Hong Kong and Singapore. The International Journal of Accounting, 37, 247-265.
Commonwealth Bank of Australia v J. Frederich (1991) 5 ACSR 115 at 197-198 p 281 Legal Service Bulletin, Hein Online Companies Act 2016 Malaysia sections 11(2),12,38(5),45(2),215,216,327,340, Third Schedule. Available at https://www.ssm.com.my / Pages / Legal Framework / Companies-Act-2016.aspx
Foundation for New Era Philanthropy charity fraud, Available in https://www.britannica.com/topic/Foundation-for-New-Era-Philanthropy,Retrieved 1/6/2022
Gray, R., Kouhy, R., and Lavers, S. (1995). Corporate social and environmental reporting: A review of the literature and a longitudinal study of UK disclosure Accounting, Auditing and Accountability Journal, 8(2), 47-77. Companies Commission of Malaysia
Guidelines for Company Limited by Guarantee (September 2021), Companies Commission of Malaysia, from HTTPS: // www.ssm.com.my / Pages/ Legal Framework/Companies-Act-2016.aspx#
Hayes, A. (2020, December 14). Annual Reports: What You Need to Know. Retrieved January 25, 2021, from https://www.investopedia.com/terms/a/annualreport.asp https.learn.g2.com retrieved 26/5/2022
Huse, M. “Accountability and Creating Accountability: A Framework for Exploring Behavioural Perspectives of Corporate Governance.” British Journal of Management 16, no. 1 (2005): 65-79
Income Tax Act 1967 Malaysia section 44(6)
Irish Development NGOs Code of Corporate Governance p52,55-56. HTTPS: www.ecgi.global
Khairuddin bin Abu Hassan v Tan Sri Mohamed Apandi Ali [2017] MLJU 349
King IV Report for Corporate Governance for South Africa,2016. Part 6: Supplements for Nonprofit Organizations p1-8
Kumar, Sarabajaya, and Kevin Nunan. A Lighter Touch: An Evaluation of the Governance Project. London: Joseph Rowntree Foundation/YPS, 2002
Malaysiakini May 15, 2019. Yapeim admits 'wrongdoing, negligence' by previous management https://www.malaysiakini.com
Malaysian Code on Corporate Governance 2017
Noor, M. A. M., and Fadzil, F. H. (2013), "Board Characteristics and Performance from Perspective of Governance Code in Malaysia," World Review of Business Research, Vol. 3 No. 3, pp. 191-206.
Noorbijan Abu Bakar, Roshayani Arshad, Normah Omar, Wan Ainul Asyiqin Wan Mohd Razali (2014). Governance and financial reporting practices: assessment of FATF and APG guidelines on Malaysian company limited by guarantee 256,258,264,265
Norli Ali, Jamaliah Said, Normah Omar, Rashidah Abdul Rahman and Radiah Othman (2012), Financial Reporting Disclosure: Evidence from Malaysian NonProfit Organizations, British Journal of Economics, Finance and Management Sciences p 17,19
O’Donovan, G (2002). Environmental Disclosures in the Annual Report: Extending the Applicability and Predictive Power of Legitimacy Theory. Accounting, Auditing and Accountability Journal,15(3),344-371
Sengul M, Javier G and Dial J(2012), Strategic Delegation: A Review, Theoretical Integration, and Research Agenda. Journal of Management Vol. 38 p.375-414
Stone v Ritter-911A.2d 363 (Delaware 2006). www.lexisnexis.com
Tun Dr. Mahathir Bin Mohamad & Ors v Datuk Seri Mohd Najib bin Tun Hj Abdul Razak (2016) 11 MLJ 1, available in https://www.zulrafique.com.my
Vanderwarren, K.R. “Financial Accountability in Charitable Organizations: Mandating an Audit Committee Function.” Chi.-Kent Law Review 77 (2001): 963-88.
Vanstraelen, A., Zarzeski, M.T and Roob S.W.G (2003):” Corporate Nonfinancial Disclosures Practices and Financial Analyst Forecast Across Three European Countries” Journal of International Financial Management and Accounting 14:3
West, R., and Zech, C. "Internal Financial Controls in the US Catholic Church." Research Study of the Villanova Center for the Study of Church Management, 2007. www.malaysia.acclime.com.Retrieved 26/5/2022
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 May Sapura Shazilli, Halyani Hassan, Jasni Abdul Jalil, Abdul Rauf Ambali
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
