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Business 09 May 2013 | 12:00 AM

US audit watchdog wants more scrutiny

WASHINGTON: Corporate auditors would be required to look more closely at insider business deals, like those used in many Chinese company frauds, under a rule the US audit regulator has proposed.

Business 06 May 2013 | 12:00 AM

Action plan for accountancy Document will detail demand and supply, and how the profession should be regulated

PETALING JAYA: Malaysia’s accountancy sector is expected to get a much-needed action plan by the year-end. The document will contain recommendations that mainly address the demand and supply of accountants in the country for the next several years, and how the profession should be regulated.

Business 10 Apr 2013 | 12:00 AM

Blow to one of the world's largest accounting firms - KPMG

NEW YORK: In a blow to one of the world's largest accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations involving leaked information and a former senior partner.

Business 11 Feb 2013 | 12:00 AM

Accounting risk clouds big U.S. business bets in China

NEW YORK/HONG KONG: Tales of shady business practices abound in China - fake revenues, phony invoices, sham factories - but until recently, the problem seemed confined mostly to Chinese companies.

Business 20 Dec 2012 | 12:00 AM

Auditors, audit firms told to buck up

KUALA LUMPUR: Auditors and audit firms need to improve their auditing techniques and their oversight policies and procedures, said UK-based International Forum of Independent Audit Regulators (Ifiar).

Business 08 Dec 2012 | 12:00 AM

Should auditors of Bina Goodyear warn people against audit report?

Errol Oh wonders just how much one candepend on the independent auditorsopinion on a companys financial statementby illustrating the case of Bina Goodyear.

Business 04 Dec 2012 | 12:00 AM

US SEC charges China affiliates of Deloitte, KPMG, BDO others(update)

WASHINGTON/SINGAPORE: U.S. regulators have charged the Chinese arms of the world's five top accounting firms with securities violations, raising tensions in a regulatory standoff which experts say could kill off U.S. listings for Chinese firms if not resolved.

Business 09 Nov 2012 | 12:00 AM

Audit board raps two for breach

PETALING JAYA: The Audit Oversight Board (AOB) has reprimanded auditors Alvin Tee Guan Pian and Liew Tip Chan for breaching the board's registration conditions under section 310(4) of the Securities Commssion Act 1993.

Business 03 Nov 2012 | 12:00 AM

When views about auditor’s report are made public, interesting things surface

Errol Oh says its a good thing that theaccounting fraternity has responded to theAuditing and Assurance Standards Boardsproposals to improve the auditors reporton financial statements, adding that itsimportant to offer opinions publicly, nomatter how small the voice.

Business 05 Oct 2012 | 12:00 AM

AOB forms official collaboration

KUALA LUMPUR: The Audit Oversight Board Malaysia (AOB) has formed an official collaboration in audit oversight with the Japan Financial Services Authority and the Certified Public Accountants Audit Oversight Board.