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
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