Characteristics and Performance of Audit Committee among Listed Government Linked Companies in Malaysia

This paper examines the characteristics of the audit committee towards performance before and after the revised code of corporate governance in October 2007.The review of the code is to improve and strengthen the quality, and the effectiveness of the board and audit committee in the public listed company. In this study, we focus on the Government Linked Companies (GLCs) to look at the reinforcement of the revised corporate governance 2007 among the GLCs as past study has shown puzzling results whether GLCs have fulfilled the requirements by the Malaysia Code of Corporate Governance as reported in the Securities Commission in 2007. The finding showsthat there is an improvement in the corporate governance practice specificallyin the characteristics of the audit committee at the firm and itsinfluence to improve the performance of the firm among the GLCs.