Corporate Governance Practice, Risk Management and Internal Control at Kedah State Zakat Board (LZNK)

• Main Authors: Ishak, Suhaimi, Mohamad Nor, Mohamad Naimi, Shuib, Mohd Sollehudin, Osman, Amirul Faiz, Saad, Ram Al Jaffri
• Format: Article
• Language: English
• Published: UniversityPublications.net 2019
• Subjects: HB Economic Theory
• Online Access: https://repo.uum.edu.my/id/eprint/31350/1/HSSR%2006%2002%202019%20389-404.pdf; https://repo.uum.edu.my/id/eprint/31350/; http://www.universitypublications.net/hssr/index.html

This research examined corporate governance, risk management and internal control at Kedah State Zakat Board at a professional level (LZNK). This study reviewed the practice of corporate governance, risk management and internal control that LZNK was practicing. The strengths and weaknesses of these practices were examined and subsequently some suggestions are addressed to LZNK with regard to corporate governance, risk management and internal control. Qualitative approaches are used where several respondents from LZNK and academics are interviewed, using a semi-structured tool and purposive sampling techniques. In addition, the review of key documents such as the Kedah State Zakat Board Enactment (Enactment 23) 2015 and the annual report of LZNK were also conducted. Several suggestions for improvements relating to corporate governance, risk management and internal controls in LZNK are recommended. These include submitting an internal audit report to the audit committee, initiating a governance code and the creation of a risk management committee – all actions required immediately