SC imposes penalty on former EY partner for failure to comply with auditing standard

KUALA LUMPUR: The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has imposed a monetary penalty on a former Ernst and Young (E&Y) PLT partner for failing to comply with requirements of the International Standards on Auditing when auditing a public interest entity.

In a statement today, SC said Sandra Segaran Muniandy@Krishnan was slapped with RM47,500 penalty following an appeal filed by Sandra to the SC.

"Sandra had failed to perform audit procedures to support the basis of the audit opinion for the audit engagement in the area of property, plant and equipment,” the SC said, adding that he had also performed insufficient audit procedures in the area of loans and borrowings, as well as group consolidation. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3


Next In Business News

Kerjaya, E&O may consider merging in 5 to 10 years, chairman says
SoftBank posts US$37b Vision Fund profit, eyes further IPOs
US Dept of Justice remits RM1.9b of seized 1MDB funds to Malaysia
China's April auto sales rise 8.6%, up for 13th straight month
Maxis' new digital marketing starter kit for SMEs
Inflation anxiety jolts stocks, Asia tumbles to two-month lows
Palm oil surges to RM4,524, joins global farm boom
Taiwan stocks sink nearly 9% on virus woes, tech rout
Air Asia unit gets base maintenance nod from CAAM, eyes Asean
FBM KLCI bounces in holiday-shortened session

Stories You'll Enjoy