AOB Sanctions Auditor

Kuala Lumpur, 23 October 2024

The Securities Commission Malaysia’s Audit Oversight Board (AOB) has prohibited Sathiea Seelean A/L Manickam (Sathiea) from accepting as clients and auditing any public interest entities (PIEs) or schedule funds for a one-year period, starting 22 October 2024.

Additionally, the AOB imposed a fine of RM87,500 on him.

Sathiea was a partner of Morison Anuarul Azizan Chew, an audit firm formerly registered with the AOB.

He was also the engagement partner of a public listed company (PLC) client for the financial period ended (FPE) 31 December 2016 as well as financial years ended (FYE) 31 December 2017 and 31 December 2018.

Sathiea failed to comply with the relevant International Standards on Auditing (ISA) when auditing the PLC.

Specifically, he did not obtain sufficient audit evidence to support his audit opinion on audit of group financial statements in key audit areas, namely cash and bank balances, prepayments and investments.

Sathiea had appealed to the SC against the AOB’s enforcement action. The SC dismissed the appeal and affirmed the AOB’s decision.

AUDIT OVERSIGHT BOARD
SECURITIES COMMISSION MALAYSIA

SC AFFILIATES
RELATED SITES
about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

General Line: +603-6204 8000
General Email: [email protected]
© Copyright Securities Commission Malaysia.  Contact Us   |    Disclaimer   |   The site is best viewed using Microsoft Edge and Google Chrome with minimum resolution of 1280x1024
Ooops!
Generic Popup