KUALA LUMPUR: CN Asia Corp Bhd has received a notice in writing from Messrs. Ong & Wong Chartered Accountant on their resignation as the external auditors of the company.
In a filing with Bursa Malaysia, CN Asia said the Auditors were re-appointed as the auditors at the last annual general meeting (AGM) of the company held on June 24 to hold office until the conclusion of the next AGM of the company.
“The auditors have tendered their resignation due to the Audit Oversight Board has notified the auditors that they are prohibited from auditing financial statements of public interest entities (PIEs) for 12 months commencing from Sept 7,” it said.
CN Asia is in the midst of identifying the new auditors to be appointed pursuant to Section 271(2)(b) of the Companies Act 2016.
ALSO READ: SC's AOB prohibits Ong & Wong, audit partners from auditing for one year
In a statement on Monday, Securities Commission Malaysia’s Audit Oversight Board (AOB) has prohibited Ong and Wong Chartered Accountants and three of its audit partners from accepting and auditing any PIEs or schedule funds for a 12-month period, starting from Sept 7.
The audit partners are Ong Koon Liang, Ong Kong Lai and Wong Cham Mew.
Additionally, the AOB imposed fines of RM227,000 on Ong and Wong, RM35,000 each on Koon Liang and Kong Lai and RM34,000 on Cham Mew.
