2013 Sanctions

No.

Nature of Breach

Parties Involved

Brief Description of Breach

Action Taken

Date of Action

1. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Tan Chin Huat
Partner of STYL Associates who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 December 2010.
Failure to comply with certain requirements of International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE.

 

Reprimand

19 August 2013

2. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Yeo Eng Hui
Partner of STYL Associates who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 December 2010.
Failure to comply with certain requirements of International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE.

Reprimand

19 August 2013
3. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Wong Shan Ty
Partner of Ong & Wong who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 30 September 2011.
Failure to comply with certain requirements of International Standards on Auditing in discharging her professional duties in the performance of an audit of the PIE.
Reprimand

  • Wong Shan Ty submitted a letter of appeal dated 13 September 2013 to the SC pursuant to section 31ZB of the SCA. The appeal is currently under review.

19 August 2013
4. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Cheah Choong Keong
Partner of C.K. Cheah & Co. who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 30 September 2011.
(i) Failure to comply with certain requirements of International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE; and

(ii) Failure to comply with certain requirements of the By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants which relate to independence of an auditor in discharging his professional duties.

(i)Reprimand; and

(ii)Penalty of RM5,000.

  • Cheah Choong Keong submitted a letter of appeal dated 12 September 2013 to the SC pursuant to section 31ZB of the SCA. The appeal is currently under review.
19 August 2013
5. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Dr. Abd Halim Bin Husin
Partner of Wong Weng Foo & Co. who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 30 June 2011.
Failure to comply with certain requirements of International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE. Reprimand 28 August 2013
6. Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Mohd. Neezal bin Md. Noordin Partner of AljeffriDean who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 March 2011. (i) Failure to comply with certain requirements of International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE; and

(ii) Failure to comply with certain requirements of the By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants which relate to independence of an auditor in discharging his professional duties.

(i)Reprimand; and

(ii)Penalty of RM10,000.

28 August 2013

Note:All sanctions imposed by the AOB are subject to an appeal to the Commission within 30 days from the date of notification of the decision under section 31ZB of the Securities Commission Act 1993.