Your question: What is regulatory body in Malaysia?

What are the regulatory bodies in Malaysia?

Administrative and Regulatory Bodies

  • Inland Revenue Board Of Malaysia (LHDN): …
  • Companies Commission Of Malaysia (SSM): …
  • Central Bank Of Malaysia (BNM): …
  • Malaysia Competition Commission (MyCC): …
  • Intellectual Property Corporation Of Malaysia (MyIPO): …
  • Securities Commission Malaysia (SC):

What is considered a regulatory body?

A regulatory body is a public organization or government agency that is set up to exercise a regulatory function. This involves imposing requirements, conditions or restrictions, setting the standard for activities, and enforcing in these areas or obtaining compliance.

What is an example of a regulatory body?

A regulatory body is a public or government agency created to oversee specific industries and practices. An example of a media regulatory body is OFCOM, a independent UK regulator for the UK media and communications industry.

What is the regulatory body responsible for?

A Regulatory Body is appointed by the Government to establish national standards for qualifications and to ensure consistent compliance with them.

Who are the accounting regulators in Malaysia?

In Malaysia, the accountancy profession is regulated by the Audit Oversight Board (AOB), the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM), the Malaysian Institute of Accountants (MIA), and the Malaysian Institute of Certified Public Accountants (MICPA).

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What is regulatory bodies in pharmaceuticals?

Each country has its own administrative unit that is accountable to enforce the principles and rules and issue the rules to control drug development method, licensing, registration, producing, promoting and labelling of pharmaceutical product. …

What is a professional regulatory body?

Professional Statutory and Regulatory Bodies (PSRBs) are external bodies which accredit, recognise and approve programmes that lead to a professional or vocational qualification or exemption from a professional examination.

What is the difference between a statutory body and regulatory body?

Regulatory agencies use a commission system of administration, and their terms of office are fixed and often very long. … Regulatory agencies are generally a part of the executive branch of the government, or they have statutory authority to execute their functions with oversight from the legislative branch.

Why are regulatory bodies important in healthcare?

Regulators do four things: Set standards of competence and conduct that health and care professionals must meet in order to be registered and practise. Check the quality of education and training courses to make sure they give students the skills and knowledge to practise safely and competently.