Securities Commission imposes 1-year ban on KC Chia & Noor
The Securities Commission Audit Oversight Board bans audit partners Chia Kwong Chow and Tai Yoong Noor of KC Chia & Noor from accepting and auditing any public interest entities or schedule funds for 12 months effective May 10, 2023. – The Malaysian Insight file pic, June 16, 2023.
The board has also imposed a fine of RM50,000 on Chia and RM25,000 on Tai, the SC said in a statement today. “Chia also failed to obtain sufficient appropriate audit evidence to verify a significant number of transactions with incomplete records of deferred expenditure. The SC said the deferred expenditure was subsequently reclassified as non-current assets held for sale.
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