Good corporate governance leads to the success of the Sustainable Development Goals (SDGs). This study aims to examine the association between the best corporate governance practices companies (Top CG) and political connections companies (PC) with financial reporting quality as measured by earnings management (EM). The study was conducted on 492 companies listed on Bursa Malaysia for year of 2014–2021 in consideration of earning management information using Kothari Model (2005). Utilizing Fixed Effect Model, the study revealed that Top CG companies and PC status companies are associated with less earnings management practices, reflecting a higher financial reporting quality. This study contributes to a greater understanding of the role of corporate governance and political relations in influencing financial reporting quality in Malaysia, as well as providing important implications for policymakers, investors, and other stakeholders in discovering the impact of corporate governance on long-term value creation through transparency.