KUALA LUMPUR: The Securities Commission's (SC) Audit Oversight Board (AOB) has imposed fines on Grant Thornton Malaysia PLT (GTM) and its audit partner, Mohamad Heizrin Sukiman, for failing to comply with a key audit partner rotation requirement.
In a statement, the regulator said GTM was fined RM150,000 and Heizrin, RM37,500, after the latter breached the key requirement of the Malaysian Institute of Accountants’ ByLaws (On Professional Ethics, Conduct and Practice) (MIA By-Laws) during the transition period of the revised MIA By-Laws.
