Section 8
Members of the Board
of Financial Reporting Act 1997
(1)
Subject to subsection (2), the Board shall consist of the following members who shall be appointed by the Minister:
(a)
a Chairman;
(b)
the Accountant General; and
(c)
six other members who possess knowledge and experience in matters of financial accounting and reporting and in one or more of the following fields:
(i)
accountancy;
(ii)
law;
(iii)
business;
(iv)
finance.
(2)
At least five of the members appointed under subsection (1)
shall be members of the Malaysian Institute of Accountants.
(3)
The Minister may appoint three advisors to the Board to represent—
(a)
the Securities Commission;
(b)
the Central Bank of Malaysia; and
(c)
the Registrar of Companies.
Financial Reporting 13
(4)
The advisors to be appointed under subsection (3) shall be appointed from amongst persons who possess knowledge and experience in the field of accountancy, law, business or finance.
(5)
An advisor appointed under subsection (3) shall, unless he sooner resigns or his appointment is sooner revoked, hold office for such term as the Minister may determine.