KUALA LUMPUR: The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has prohibited Ahmad Aljafree Mohd Razalli from accepting as clients and auditing any public interest entities or schedule funds for a one-year period, starting April 30, 2025.
In a statement today, the SC said the AOB also imposed a fine of RM50,000 on Ahmad Aljafree, who is a partner of Al Jafree Salihin Kuzaimi PLT, an audit firm registered with the AOB.
It said Ahmad Aljafree was the engagement partner of a public listed company (PLC) client for the financial years ended June 30, 2020 and June 30, 2021.
"He failed to comply with the relevant International Standards on Auditing in the areas of prior year adjustments, property, plant and equipment, opening balances and consolidation,” it added.
The SC said Ahmad Aljafree appealed to the commission against the AOB’s imposed penalty but did not appeal against the prohibitions imposed.
"The SC dismissed the appeal and affirmed the AOB’s decision on the monetary penalty,” it said. - Bernama
