KUALA LUMPUR, April 14 — The National Audit Department (NAD) today entered into an agreement with Extol Corporation Sdn Bhd (Extol), which is a wholly-owned subsidiary of AppAsia Bhd, to participate in the eConfirm.my electronic bank confirmation platform.
The eConfirm.my platform is an industry-wide electronic bank confirmation platform that facilitates the audit process for auditors and banks operating in Malaysia as required under the International Standard on Auditing (ISA) 505 External Confirmations.
"NAD plays a critical role in ensuring the financial integrity and accountability of the Malaysian government, and we are excited to have them join our platform,” said AppAsia chairman Datuk Seri Rahadian Mahmud Mohammad Khalil in a statement.
Rahadian said NAD’s participation in eConfirm.my is a testament to the platform’s reliability and efficiency.
Through leveraging eConfirm.my, audit confirmation processes are streamlined, turnaround times reduced, fraud risks reduced, and the security of financial audits is significantly improved.
The platform's automated workflow and real-time reporting capabilities enable audits to be conducted with greater transparency and efficiency.
The eConfirm.my platform was launched on June 26, 2020, in collaboration with the Malaysian Institute of Accountants.
— Bernama
