The SC’s Audit Oversight Board also stated that external auditors play an important role in promoting confidence in the quality and reliability of audited financial statements in Malaysia. As such, auditors should be allowed to carry out their responsibilities and render their independent opinion without fear or favour, and discharge their duties free from any retaliation. Auditors are also required to exercise their professional scepticism during their audit and always apply the International Standards of Auditing as adopted by the Malaysian Institute of Accountants.
SC also wishes to clarify that it has not spoken to Datuk Mohamed Ilyas Pakeer Mohamed, Chairman of Serba Dinamik Holdings Berhad as reported in the article entitled “What Serba Dinamik said on its audit issues”, which appeared in The Edge CEO Morning Brief this morning.
SC’s investigation into Serba Dinamik Holdings Berhad is still on-going.
