Kuala Lumpur, 5 March 2018
AOB Reprimands Two Auditors for Breaching Auditing Standards
The Securities Commission Malaysia’s Audit Oversight Board (AOB) has publicly reprimanded two auditors, Sathiea Seelean A/L Manickam of Morison Anuarul Azizan Chew (MAAC) and Tan Poh Ling, a former partner of MAAC, for failing to comply with the International Standards on Auditing when auditing the financial statements of a public interest entity (PIE).
The two auditors failed to design and perform appropriate audit procedures in respect of trade receivables and revenue in auditing a PIE’s 2011 and 2012 financial statements.
As such, the auditors breached Section 31Z of the Securities Commission Malaysia Act 1993 for their failure to comply with their conditions of registration. Their conditions of registration include the observance with recognised auditing standards. AOB reminds its registrants to adhere to all relevant requirements of recognised auditing and ethical standards in Malaysia.
AUDIT OVERSIGHT BOARD