Audit Oversight Board Malaysia

In a statement today the sc said anantham has served as a member of the aob since january 2020 and will be taking over from datuk gumuri hussain who retired as non executive chairman on november 23.

Audit oversight board malaysia. The securities commission malaysia announced that it has named dato anantham kasinather as its new chairman of the audit oversight board effective from the beginning of december 2020. Prohibit the audit firm from accepting any pie as client for a period of 12 months. Although the auditing profession in malaysia has international auditing standards as prescribed minimum level of quality in the delivery of audit assurance services self. Kuala lumpur nov 30.

Under part iiia of the securities commission act of 1993 the aob is responsible for conducting qa reviews of audit firms that are registered with the aob and that audit public interest entities pies. This development is in line with the efforts in other jurisdictions to enhance the audit quality and reliability of financial statements that are a key source of information to investors and other. Kuala lumpur nov 30 the securities commission sc has appointed datuk anantham kasinather as the non executive chairman of its audit oversight board aob effective december 1. Nik mohd hasyudeen yusoff executive chairman of the audit oversight board who prior to joining the aob was also vice president of the asean federation of accountants and member of cpa australia s public practice advisory committee former president of the malaysian institute of accountants mia and had served on the malaysian accounting standards board.

In a statement today the sc said anantham has served as a member of the aob since january 2020 and will be taking over from datuk gumuri hussain who retired as non executive chairman on november 23. In malaysia the audit oversight board aob and the malaysian institute of accountants mia are responsible for establishing and operating quality assurance qa mechanisms in the jurisdiction. On 30 june 2014 the commission decided to reject the appeal. The audit oversight board aob is established under part iiia of the securities commission act malaysia 1993 scma which came into force on 1 april 2010 to promote and develop an effective audit oversight framework and to promote confidence in the quality and reliability of audited financial statements in malaysia.

On 05 june 2014 the audit firm appealed to the commission against the above decision made by the audit oversight board. The setting up of the malaysian audit oversight board aob in 2010 under the securities commission amendment act 2010 has extended the role of regulators into the statutory audit domain for public listed companies. The securities commission malaysia sc has appointed datuk anantham kasinather as the non executive chairman of its audit oversight board aob effective from dec 1 in a statement today the sc said anantham had served as a member of the aob since january 2020 and will be taking over from datuk gumuri hussain who retired as the non executive chairman on nov 23. Monetary penalty of rm30 000.