ISSN: 2222-6990
Open access
Money laundering is the process of obtaining huge sums of money through unlawful means. It is a significant financial offence committed by white-collar criminals. This study's primary purpose is to evaluate the responsibilities of auditors in preventing money laundering. The research is conducted in Malaysia because financial crime has been documented there. It elaborates on the auditors' tasks in terms of their expertise and independence. This concept paper's technique is a literature review through framework and research. Internal auditors, forensic auditors, and the Anti-Money Laundering Act (AMLA) play a crucial part in putting a stop to this crime, as recommended in the concept paper. In conclusion, these findings contribute to the identification and prevention of money laundering.
Al-Husseini. (2018). Analysis of affecting factors in detection the external auditor for money laundering. Retrieved January 2, 2023,
https://www.researchgate.net/publication/343655443_Analysis_of_affecting_factors_in_detectio n_the_external_auditor_for_money_laundering_An_applied_study_in_Iraqi_auditing_offices
Aslani. (2011). The Role of Auditing Profession in Fighting Against Economic and
Financial Crimes. Retrieved December 24, 2022, from http://www.ipedr.com/vol25/31-ICEME2011-N10004.pdf
Bank Negara Malaysia. (n.d.). Malaysia’s AML/CFT Regime. Retrieved January 2, 2023, from https://amlcft.bnm.gov.my/the-amla
Chen. (2022). Money laundering: What it is and how to prevent it. Investopedia.
Retrieved December 28, 2022, from
https://www.investopedia.com/terms/m/moneylaundering.asp
Cindori & Petrovic. (2018). The significance of assessing money laundering risk as a part of auditing operations. Retrieved January 1, 2023, from
https://www.athensjournals.gr/business/2018-4-1-4-Cindori.pdf
Petrascu & Tieanu. (2014). The Role of Internal Audit in Fraud Prevention and Detection.
Retrieved from December 30, 2022, from
https://www.sciencedirect.com/science/article/pii/S2212567114008296?ref=pdf_download&fr= RR-2&rr=785448dbce454643
Dimitra & Georgios. (2015). The Contribution of Internal Audit on Combating Money Laundering and Terrorism Financing. Retrieved December 25, 2022, from https://www.westeastinstitute.com/wp-content/uploads/2015/04/MITROU-PAPACHRISTOU.pdf
Jamaliah. (2013). Money Laundering Prevention Measures among Commercial Banks in Malaysia. Retrieved December 25, 2022, from
https://citeseerx.ist.psu.edu/document?repid=rep1&type=pdf&doi=4f2e4d8cb12a2b89e91bfd173 f357e2d549545df
Jones. (2019). 1MDB corruption scandal in Malaysia: A study of failings in control and Accountability. Retrieved January 4, 2023, from https://www.emerald.com/insight/content/doi/10.1108/PAP-11-2019-0032/full/html
Laws of Malaysia. (2001). Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). Retrieved January 4, 2023, from https://amlcft.bnm.gov.my/documents/6312201/6321213/Anti-Money+Laundering%2C+Anti-Te rrorism+Financing+and+Proceeds+of+Unlawful+Activities+Act+2001+%28AMLA%29.pdf/d1d b4402-6cbb-c23d-3299-71f3064b5f31?t=1646233806240
Lokman & Bakri, M. (2020). Factors Compromising the Auditor Independence: A Study on the Perception of Malaysian Publicly Listed Companies. Retrieved January 4, 2023, from https://jas.uitm.edu.my/images/2020_DEC/JAS1.pdf
Ringh & Sultani. (2014). The auditor’s role in combating money laundering. Simple search. Retrieved January 4, 2023, from https://www.diva-portal.org/smash/get/diva2:739125/FULLTEXT01.pdf
Shanmugam & Thanasegaran. (2008). Combating money laundering in Malaysia. Journal of Money Laundering Control. Retrieved December 27, 2022, from https://www.emerald.com/insight/content/doi/10.1108/13685200810910402/full/html
Standing & Van Vuuren. (2003). The role of Auditors: Research into organised crime and money laudering. Retrieved January 1, 2023, from
https://www.files.ethz.ch/isn/112129/73.pdf
The Institute of Internal Audit (n.d.). About Internal Audit. Retrieved December 23, 2022, from https://www.theiia.org/en/about-us/about-internal-audit/
In-Text Citation: (Yusoff et al., 2023)
To Cite this Article: Yusoff, Y. H., Ghazali, N. I., Fazel, A. A. M., Jamaludin, N., Tawil, N. L., & Madzlan, N. (2023). Roles of Auditor in Combating Money Laundering: A Concept Paper. International Journal of Academic Research in Business and Social Sciences, 13(4), 78 – 87.
Copyright: © 2023 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non0-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode