![]() ![]() The SC’s Audit Oversight Board also stated that external auditors play an important role in promoting confidence in the quality and reliability of audited financial statements in Malaysia.Īs such, auditors should be allowed to carry out their responsibilities and render their independent opinion without fear or favour, and discharge their duties free from any retaliation. It reiterated that under the Capital Markets and Services Act 2007, auditors have a statutory obligation to immediately report to the SC “if they reasonably believe that there are any matters which may constitute a breach or non-performance of any requirement of securities laws, rules of the stock exchange or any matter which may adversely affect to a material extent the financial position of the listed company”. In a separate statement, the Securities Commission Malaysia (SC) also clarified that it has not spoken to the chairman of Serba Dinamik as reported in the article entitled “What Serba Dinamik said on its audit issues”, which appeared in The Edge CEO Morning Brief on Tuesday.Īccording to the SC, auditors are also required to exercise their professional scepticism during their audit and always apply the International Standards of Auditing as adopted by the Malaysian Institute of Accountants. “The exchange is committed to ensuring the proper dissemination of accurate and timely information to the capital market,” it said. “Bursa Malaysia denies that such a conversation took place. Bursa Malaysia also denied that Serba Dinamik’s chairman Datuk Mohamed Ilyas Pakeer Mohamed had spoken to the bourse over the matter, as stated by a news report. ![]()
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