In a statement, the SC said that it has not authorised any ICOs pending the finalisation of its guidelines.
KUALA LUMPUR: The Securities Commission (SC) has reprimanded auditors for failing to comply with the International Standards on Accounting in their audits of their respective public-listed company clients.
A statement issued by the SC named Gary Yong Yoon Shing and Jason Sia Sze Wan, partners of Nexia SSY; and Lye Ghee Kiang, a partner of CASA Malaysia PLT, for having failed to obtain sufficient appropriate audit evidence to support the audit opinion for their clients.
Yong and Sia committed the offence for two audit clients for the financial year ended Dec 31, 2012, while Lye did the same for an audit client for the financial year ended April 30, 2017.
"Compliance with auditing standards when auditing the financial statements of a public interest entity is a condition of registration for AOB registrants.
"Failure to comply with AOB’s conditions of registration will result in the breach of section 31Z of the Securities Commission Malaysia Act 1993," said the SC.
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