The audit committee’s role in overseeing risk and financial reporting is more important than ever in this evolving context, as organizations navigate increasingly complex reporting requirements and a shifting regulatory landscape. Effective oversight requires committee members to stay up to date on these changes while understanding how emerging risks may impact the organization. It highlights five areas of focus—financial reporting and controls; enterprise risk management; environmental, social, and governance; cyber risk; and digital finance transformation— that likely will be recurring topics of discussion for audit committees in 2022 (Deloitte, 2022)

This programme aims to keep directors attuned to megatrends that may impact the outworking and discharge of responsibilities by audit committees. Such trends include the publication of transparency reports, tax governance, internal audit on ethics as well as Environmental, Social and Governance. Participants can translate the key trends identified and shape priorities that would allow them to take actionable measures in managing governance, control and risk matters within their respective organisations.

KRISHMAN VARGES
Director of Board Advisory Services, KPMG Management & Risk Consulting Sdn Bhd

Having previously acquired experience in the field of policy making and standard setting with the national capital market regulator, Krishman now specialises in board advisory and governance work across public and private sectors. He has been involved in numerous governance engagements with KPMG MRC spanning across board effectiveness evaluations, remuneration analyses, diagnostic assessments, policy formulation, constitution reviews and validation exercises. He also co-led the corporate governance validation exercise of top public listed companies across the ASEAN region.

Krishman led the development of the Corporate Governance Guide (3rd edition), commissioned by Bursa Malaysia Berhad with the aim of facilitating the understanding of listed issuers on the implementation of corporate governance practices. He also co-authored KPMG MRC Non-Executive Directors Remuneration Study 2017 and KPMG MRC Report on Board Evaluation 2019.

YONG SHEN WEI
Associate Director, Transfer Pricing, Tax KPMG, Malaysia

Shen Wei is a tax associate director with KPMG in Malaysia and has been involved with transfer pricing work since 2015.

Over the years assisting the clients on tax audit assistance, Shen Wei has experiences dealing with the Multinational Tax Branch, Special Industry Branch, Large Taxpayers Branch and Department of International Taxation from the Malaysian Inland Revenue Board on Country-by-Country Reporting (“CbCR”) related matters and assisted some of her clients in the submission of CbCR notification letters and/ or Country-by-Country Reports.

Her clients come from a diverse range of industries such as manufacturing and trading/ distribution of consumer products, electronics, commodities, as well as various types of service providers. Shen Wei has assisted her clients to prepare transfer pricing study to determine the appropriate pricing basis for the provision of intragroup services as well as transfer pricing documentation to evaluate the arm’s length nature of the provision of intragroup services from the Malaysian transfer pricing perspective. She also conducts in-house or external trainings on transfer pricing related topics. Shen Wei also provided some external briefings on tax corporate governance framework program

DARREN LEE
Executive Director, Internal Audit, Risk & Compliance Services, KPMG Management & Risk Consulting Sdn Bhd

Darren is one of the leaders within the internal audit practice for KPMG in Malaysia. He advises clients on remediating internal control weaknesses detected through internal audit engagements. He also has experience in advising clients on corporate governance matters, the development of risk management frameworks and leading quality assessment of internal audit functions.

Fellow Member of ACCA and Chartered Accountant (M), MIA. He has given training to corporations on corporate governance, anti-bribery and anti-corruption and recently added ESG in internal audit to topics he is familiar with.