Malaysia had faced major changes on the regulations that governs the Company’s
affairs. In 31st January 2017, the new Companies Act 2016 (Act 777) & Regulations
had come into operation after 13 years of review and amendment done by the Corporate
Law Reform Committee (CLRC). This committee had been established by Companies
Commission of Malaysia (CCM) in 2003 in order to review back the Companies Act
1965 that had been used for more than 50 years. The purpose of this study is to examine
the level of acceptance on the Companies Act 2016 (Act 777) & Regulations among
practitioners in Malaysia. This study also examines the factors that influence the level
of acceptance on the Companies Act 2016 (Act 777) & Regulations among the
practitioners. This study used the factors such as the interpretation of the Act, the
practitioners’ competencies and the implementation time as the independent variables.
This study used the quantitative measures in data collection. The unit of analysis covers
the Company Secretary, Auditors and other parties related to Companies Act 2016 (Act
777) & Regulations in Selangor and Kuala Lumpur. The findings from this study
proposed that the level of acceptance of the Act is medium. All the three independent
variables used had been proven to have influence on the acceptance level of the
Companies Act 2016 (Act 777) & Regulations. Finally, the interpretation of the
Companies Act 2016 (Act 777) & Regulations is the most influential factor to the
acceptance level.
