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Decisions of the Disciplinary Committee of the MIA

February 15, 2019
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Decisions of the Disciplinary Committee of the MIA

Decisions of the Disciplinary Committee of the Malaysian Institute of Accountants (‘Institute’) against members pursuant to Rule 18(1) of the Malaysian Institute of Accountants (Disciplinary) Rules 2002

Koh Yoon Sing (1659) as the auditor of Cameron Towers Joint Management Body (the Company) had been punished and imposed a fine of RM3,000.00, costs of RM2,000.00 and ordered to attend a course relevant to the application of Financial Reporting by the Disciplinary Committee of the Institute on 27 November 2018 for failure to resolve the financial reporting deficiencies included in the audited accounts of the Company for the financial years ended 31 December 2009, 31 December 2010, 31 December 2011 and 31 December 2012 respectively which he had audited.

Yap Seong Fatt (708) as the statutory auditor of Bina Goodyear Berhad (the Company)  for the financial year ended 30 June 2012 (‘the financial year’) had been punished and imposed a fine of RM5,000-00 and costs of RM5,000.00 by the Disciplinary Committee of the Institute on 27 November 2018 for failure to obtain sufficient appropriate audit evidence in the audit of the work in progress and its related financial statements areas and disclosures as included in the financial statements of the Company for the said financial year, hence impacting the appropriateness of his audit opinion expressed on the said financial statements which was unqualified.

Lau Choo Seng (3425) as the sole proprietor of Messrs. Lau Choo Seng & Co (the Firm) had been punished and imposed a fine of RM3,000-00, costs of RM2,000.00 and ordered to attend a course conducted by the Institute on Audit Quality Enhancement Program by the Disciplinary Committee of the Institute on 27 November 2018 after the Firm had been rated as ‘unsatisfactory’ as indicated in the Follow-up Review Report dated 27 September 2017 which detailed the weaknesses in the audit work performed.

Abdul Halim Ihsan (4714) a partner of Messrs. Mokhtar & Co. (the Firm) had been punished and  ordered his name to be removed from the register and he shall cease to be a member of the Institute,  imposed a fine of RM5,000.00 and costs of RM5,000.00 by the Disciplinary Committee of the Institute on 27 November 2018 after the Firm had been rated as ‘unsatisfactory’ as indicated in the Follow-up Review Report dated 29 March 2016 which detailed the weaknesses in the audit work performed.

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