KUALA LUMPUR: A forum organised by professional accountants have raised some concerns over confidentiality, costs and outcome of reviews held by the Audit Oversight Board (AOB), a body formed by the Securities Commission in April.
PricewaterhouseCoopers Malaysia partner Loh Lay Choon, who presented some comments on the implications of the AOB’s mandate, said costs billed to clients would almost certainly rise as audit firms that qualified to audit public interest entities were held to higher standards.
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