AOB's Sanctions
  • 2018 Sanctions
    No Nature of Misconduct Parties Involved Brief Description of Misconduct Action Taken Date of Action
    1. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Elwyn Tang Boon Hiap of CHI-LLTC who was the engagement partner in the audit of a public listed entity for the financial year ended 30 April 2015. Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of the public listed entity. Reprimand and monetary penalty of RM225,000

    On 26 January 2018, Elwyn Tang Boon Hiap appealed to the Securities Commission Malaysia (SC) on the quantum of the monetary penalty imposed by AOB.

    The SC rejected the appeal and affirmed the decision made by AOB.

    9 January 2018
    2. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Act Malaysia 1993 (SCMA). Sathiea Seelean A/L Manickam  of Morison Anuarul Azizan Chew

    Engagement partner in the audit of a public listed entity for the financial year ended 31 December 2011.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of the public listed entity. Reprimand

     

    3. Breach the AOB's registration condition imposed under Section 31O(3) of the SCMA. Tan Poh Ling, former partner of Morison Anuarul Azizan Chew

    Engagement partner in the audit of a public listed entity for the financial year ended 31 December 2012.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of the public listed entity. Reprimand
    4. Breach the AOB's registration condition imposed under Section 31O(3) of the SCMA. Chuah Soo Huat (CSH), former partner of PKF.

    CSH was the engagement partner in the audit of a public listed company for the financial year ended 31 December 2012.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed company. Reprimand 4 April 2018
    5. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Siew Boon Yeong & Associates (AF 0660) Failure to comply with  relevant requirements of the approved standards on auditing in Malaysia, namely the International Standards on Quality Control (ISQC 1) and International Standards on Auditing (ISA) as adopted by the Malaysian Institute of Accountants.
    1. Prohibited from auditing the financial statements of a PIE and schedule fund for a period of nine (9) months; and
    2. Monetary penalty of RM227,000.00.
    17 August 2018
    6. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Dato' Siew Boon Yeong of  Siew Boon Yeong & Associates

    Engagement partner in the audit of public listed entities (PIEs) for the financial years ended 31 December 2016, 31 January 2017 and 31 March 2017, respectively.

    Failure to comply with certain requirements of the ISA in discharging his professional duties in the performance of audits of PIEs.

     

    1. Prohibited from auditing the  financial statements of a PIE and schedule fund for a period of nine (9) months; and
    2. Monetary penalty of RM81,000.00

     

    7. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Lim Teik Ee
    former partner of Siew Boon Yeong & Associates

    Engagement Quality Control Reviewer (EQCR) in the audit of public listed entities for the financial years ended 31 December 2016, 31 January 2017 and 31 March 2017, respectively.

    Failure to comply with certain requirements of the ISA in discharging his professional duties as EQCR. (i) Prohibited from auditing the  financial statements of a PIE and schedule fund for a period of nine (9) months.
    8. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA).

    Gary Yong Yoon Shing of Nexia SSY (AF 002009)

    Engagement partner in the audit of a PIE for the financial year ended 31 December 2012.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed company. Reprimand 19 November 2018
    9. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA).

    Jason Sia Sze Wan of Nexia SSY.

    Engagement partner in the audit of a PIE for the financial year ended 31 December 2012.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed company. Reprimand
    10. Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Lye Ghee Kang of CAS Malaysia PLT (AF 1476) who was the engagement partner in the audit of a PIE for the financial years ended 30 April 2017. Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed entity. Reprimand 4 December 2018
    11.

    Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993.

    McMillan Woods Mea (AF 001995) (“MWM”)

    Failure to comply with  relevant requirements of the approved standards on auditing in Malaysia, namely the International Standards on Quality Control and International Standards on Auditing as adopted by the Malaysian Institute of Accountants.

    1. Prohibited MWM from accepting any public interest entity or schedule fund as its clients for a period of 12 months;
    2. Prohibited MWM from auditing the financial statements of a public interest entity or schedule fund for a period of 12 months; and
    3. Monetary penalty of RM123,000.00.

    On 14 December 2018, MWM appealed to the Securities Commission Malaysia on the period of prohibition and quantum of the monetary penalty imposed by AOB.

    The Securities Commission Malaysia rejected the appeal and affirmed the decision made by AOB.

    The prohibitions to accept and audit any public interest entity or schedule fund for a period of 12 months will take effect from 14 February 2019.

    19 November 2018
    12.

    Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993.

    Mea Fatt Leong (“MFL”) of   McMillan Woods Mea

    MFL was the engagement partner in the audit of a public listed company for the financial year ended 31 December 2016.

    Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of a public listed company.

     

    1. Prohibited MFL from accepting any public interest entity or schedule fund as clients for a period of 12 months;
    2. Prohibited MFL from auditing the financial statements of a public interest entity or schedule fund for a period of 12 months; and
    3. Monetary penalty of RM44,000.00.

    On 14 December 2018, MFL appealed to the Securities Commission Malaysia on the period of prohibition and quantum of the monetary penalty imposed by AOB.

    The Securities Commission Malaysia rejected the appeal and affirmed the decision made by AOB.

    The prohibitions to accept and audit any public interest entity or schedule fund for a period of 12 months will take effect from 14 February 2019.

    13.

    Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993.

    Wong Joo Hua (“WJH”) of McMillan Woods Mea

    WJH was the Engagement Quality Control Reviewer (EQCR) in the audit of a public listed company for the financial year ended 31 December 2016.

    Failure to comply with certain requirements of the International Standards on Auditing in discharging his professional duties as an EQCR.   

    1. Prohibited WJH from accepting any public interest entity or schedule fund as clients for a period of 12 months; and
    2. Prohibited WJH from auditing the financial statements of a public interest entity or schedule fund for a period of 12 months.

     

  • 2017 Sanctions

    No

    Nature of Misconduct

    Parties Involved

    Brief Description of Misconduct

    Action Taken

    Date of Action

    1. Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Adam Selamat bin Musa
    Partner of Adam & Co who was the engagement partner in the audit of a public listed entity for the financial year ended 31 December 2013.
    Failure to comply with certain requirements of the International Standards on Auditing in discharging his professional duties in the performance of an audit of the public listed entity. Monetary penalty of RM75,000

    On 13 September 2017, Adam Selamat bin Musa appealed to the Commission. The appeal was solely on the quantum of the monetary penalty imposed by the AOB.

    On 2 November 2017, the Commission rejected the appeal and affirmed the decision made by AOB.

    11 September 2017

  • 2015 Sanctions

    No.

    Nature of Misconduct

    Parties Involved

    Brief Description of Misconduct

    Action Taken

    Date of Action

    1. Breach the AOB’s registration condition imposed under Section 31O(3) of the Securities Commission Malaysia Act 1993 (SCMA). Lee Kok Wai
    Partner of Crowe Horwath who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 October 2010.
    Failure to comply with certain requirements of the International Standards on Auditing (Pre Clarified ISA) in discharging his professional duties in the performance of an audit of the PIE.
    • (i) Reprimand; and
    • (ii) Penalty of RM50,000

    On 16 January 2015, Lee Kok Wai appealed to the Commission against the above decision made by the AOB

    On 29 February 2016, the Commission  decided to reject the appeal.

    16 January 2015

  • 2014 Sanctions

    No.

    Nature of Misconduct

    Parties Involved

    Brief Description of Misconduct

    Action Taken

    Date of Action

    1. Breach the AOB's registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Chan Kee Hwa
    Partner of Khoo Wong & Chan
    who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 March 2011.
    Failure to comply with certain requirements of the International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE.

    Reprimand

    18 February 2014

    2. Breach the AOB's registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Lim Kok Beng
    Partner of Ong Boon Bah & 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 the International Standards on Auditing in discharging his professional duties in the performance of an audit of the PIE.
    • Reprimand; and
    • Penalty of RM10,000.

    18 February 2014
    3. Breach the AOB's registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA). Wong Weng Foo & Co. (the Audit Firm) (i) Failure to comply with section 31N (1) of the SCA which requires audit firms to be registered with AOB when acting as auditor; and(ii) Failure to comply with the By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants requirement which relates to independence of an auditor.
    • Prohibit the Audit Firm from accepting any PIE as client for a period of 12 months; and
    • Monetary penalty of RM30,000.

    On 05 June 2014, the Audit Firm appealed to the Commission against the above decision made by the Audit Oversight Board. On 30 June 2014, the Commission decided to reject the appeal.

    The prohibition on the Audit Firm to accept any PIE as its clients for a period of 12 months will take effect from 30 June 2014.

    30 May 2014
  • 2013 Sanctions

    No.

    Nature of Misconduct

    Parties Involved

    Brief Description of Misconduct

    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
    • On 13 September 2013, Wong Shan Ty appealed to the Commission against the above decision made by the Audit Oversight Board. On 1 November 2013, the Commission decided to reject the appeal.
    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.

    • On 12 September 2013, Cheah Choong Keong appealed to the Commission against the above decision made by the Audit Oversight Board. On 1 November 2013, the Commission decided to reject the appeal.
    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
  • 2012 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).

    Alvin, Tee Guan Pian
    (Partner of UHY who was the engagement partner in the audit of a public interest entity for the financial year ended 31 July 2010)

    Failure to comply with the relevant requirements of the recognised auditing standards in Malaysia i.e. the International Standards on Auditing.

    Reprimand

    • On 9 August 2012, Alvin Tee Guan Pian appealed to the Commission against the above decision made by the Audit Oversight Board. On 4 September 2012, the Commission decided that the appeal be rejected.
    12 July 2012
    2.

    Breach the AOB’s registration condition imposed under Section 31O(4) of the Securities Commission Act 1993 (SCA).

    Liew Tip Chan(Sole proprietor of T.C. Liew & Co. who was the engagement partner in the audit of a public interest entity (PIE) for the financial year ended 31 January 2011.)

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

    (ii) 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.

     

    (i) Reprimand; and

    (ii) Penalty of RM5,000.

    7 November 2012
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