AOB suspends Chengco for two years over audit breaches

The Securities Commission of Malaysia building in Kuala Lumpur is a 2001 Asean Energy Award winner where it saves RM2.5mil per annum alone on electricity bills.

PETALING JAYA: The Securities Commission's Audit Oversight Board (AOB) has suspended the registration of audit firm Chengco PLT (CCO) for two years due to serious audit quality issues.

In a statement, the Securities Commission (SC) said it has also imposed sanctions against five of CCO’s audit partners who were the engagement partners and engagement quality control reviewers (ECQR) of three public interest entities (PIEs).