Auditor fined for Non-compliance with International Standards on Auditing

26 December 2019 | Kuala Lumpur

The Securities Commission Malaysia’s Audit Oversight Board (AOB) has fined Huang Khean Yeong a sum of RM63,000 for failing to comply with the International Standards on Auditing when auditing a public interest entity (PIE).

Huang, a partner of Deloitte PLT, has failed to design and perform audit procedures involving multi location audit of the PIE and has performed insufficient audit procedures on, among others, group consolidation, construction contracts and goodwill.

Huang is not appealing on the case and the fine will take effect immediately.

AUDIT OVERSIGHT BOARD

SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):

Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group
Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC

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]