AI, blockchain technology can enhance audit quality and compliance

The Sun

11 hours ago

KOTA KINABALU: Digital innovations such as artificial intelligence (AI) and blockchain technology in work processes, taxation, e-commerce, and ESG (environmental, social and governance) reporting hold significant potential to enhance audit quality and facilitate greater compliance.
Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki said that while advanced technologies bring numerous benefits, they also present new opportunities for corruption, fraud, and abuse of trust if not properly governed.
'From a governance standpoint, even the most robust systems can be manipulated if those managing them lack integrity and accountability,' he said.
He said this when officiating the International Conference on Technology, Management and Sustainability (ICTMS 2025), organised by the Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM), here today.
Speaking to reporters later, Azam said the MACC is actively developing a new system aimed at enhancing the efficiency and impact of anti-corruption enforcement efforts.
According to him, the adoption of modern technology has significantly accelerated the Malaysian Anti-Corruption Commission's (MACC) investigation and intelligence processes, with most cases now being resolved within three to six months, compared to previous years.
Meanwhile, Azam said the MACC is also in discussions with the Attorney-General's Chambers to implement a Deferred Prosecution Agreement (DPA), an initiative focused on the recovery of large sums of money to be returned to the country.
'This new approach will involve setting policy for cases that emphasise not just prosecution, but also the recovery of funds, particularly in high-profile cases,' he said.