AOB suspends Chengco, sanctions five auditors

The SC said AOB's findings were in fundamental and key audit areas.

PETALING JAYA: The Securities Commission’s (SC) 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 SC said it had 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).