Virtual Booth

Auditors play a crucial role in upholding trust and integrity of audited financial statements, a cornerstone of the financial ecosystem. While the specific duties of auditors are outlined in auditing standards such as the International Standard of Auditing (ISA) and the Malaysian Companies Act 2016 (CA 2016), there persists a widespread misunderstanding regarding their responsibilities. Often, auditors are wrongly perceived as solely responsible for detecting fraud, leading to misplaced blame in cases of business failures and financial scandals, as seen in legal proceedings involving Serba Dinamik and 1Malaysian Development Berhad (1MDB). To bridge this expectation gap and misconceptions, public understanding of auditor roles must be clarified, a challenging yet essential task for the maintenance of financial systems credibility. In response to the issue, a Micro-Credential online course titled “Micro-Credential Course of Audit Expectation Gap: Blaming Game, Fix the Audit Misconception V2.1” has been developed, leveraging contemporary teaching methodologies of eLearning to enable borderless education on the dynamics between auditors and management, aiming to rectify the misconceptions. This initiative will not only address the immediate need for clarity about auditor and management role, but also aligns with Sustainable Development Goal (SDG) 4: Quality Education, by offering free access to knowledge for everyone. Through this social innovation, the aim is to cultivate a healthy financial environment, underpinned by informed understanding fostered through independent learning