Malaysia’s Compliance Risk Management: A Must-Have for Business Success
In today’s complex business landscape, ensuring compliance with corporate governance requirements, reviewing processes for improvement, and assessing risk management systems are crucial for any organization to thrive. Malaysia is no exception, as the country continues to globalize its economy and expand its trade relationships.
The Importance of Compliance Risk Management
A recent survey has revealed that over 75% of Malaysian businesses have reported instances of fraud, money laundering, or terrorist financing in the past five years. This staggering figure highlights the need for robust compliance risk management practices to safeguard business reputation, revenue, and assets.
UHY’s Forensic, Litigation, and Valuation Services (FLVS) Group
In response to this growing concern, UHY, a leading professional services firm, has launched its FLVS Group in Malaysia. The FLVS Group is designed to provide expert advice and support to organizations facing compliance challenges, fraud allegations, or business disputes.
Expertise and Services
According to Fiona Toan, Head of Corporate Advisory at UHY:
“Our team of experienced forensic accountants and technical specialists understands the importance of accountability and governance in meeting business stakeholders’ expectations. We help identify blind spots and remove complexity in transactions, ensuring that our clients achieve economical advantages while building controls and processes that add value.”
The FLVS Group’s services include:
- Advisory services on corporate governance
- Risk-based internal audit
- Quality assurance review
- Sarbanes-Oxley advisory services
Building a Stronger Organization
UHY’s FLVS Group also assists organizations in developing their:
- Corporate governance practices
- Internal control
- Risk management systems
- Internal audit functions
Expertise and Legacy
The FLVS Group is the first of its kind in Malaysia, built around shared expertise with UHY Advisors (USA), who have handled landmark cases including forensic audits for Enron Corporation, Tyco International Ltd, Parmalat, and Dynergy Inc.
Conclusion
In conclusion, compliance risk management is a critical component of any successful business strategy in Malaysia. By partnering with UHY’s FLVS Group, organizations can rest assured that their brand value, reputation, revenue, and assets are protected. With our team of experts and cutting-edge services, we empower businesses to navigate complex challenges and achieve sustainable success.