MIA NOTICE DECISION OF THE DISCIPLINARY COMMITTEE MALAYSIAN INSTITUTE OF ACCOUNTANTS

MIA notice
DECISION OF THE DISCIPLINARY COMMITTEE
MALAYSIAN INSTITUTE OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants hereby
gives notice that on 11 June 2014, after due inquiry by the
Disciplinary Committee of the Institute, Haji Atarek Kamil
bin Dato’ Ibrahim (Membership No.: 3631) was found to have
committed an act amounting to ‘unprofessional conduct’
within the meaning as provided under Rule 2 of the Malaysian
Institute of Accountants (Disciplinary) Rules 2002 [P. U. (A)
229/2002] [“the MIA (Disciplinary) Rules”].
The decision of the Disciplinary Committee was based on
the evidence adduced by the Investigation Committee before
the Disciplinary Committee that as the Investigative Auditor of
MEMS Technology Berhad and its Subsidiaries for the financial
year ended 31 July 2007 he had failed to discharge his professional duties in exercising due care and diligence, in that, he
had failed to :
(1) verify the existence of a foreign company, Fast Technology
Ltd (‘FTL’) and yet concluded that the sales to FTL by
Senzpak (M) Sdn Bhd did take place and were valid ;
(2) verify the authenticity of the sale related documents, and
had concluded that the sales to FTL were valid ; and
(3) request for acknowledged delivery orders to show that the
goods from the sales to FTL were in fact delivered to FTL.
The Disciplinary Committee in exercise of its powers under
Rule 18(3) of the MIA (Disciplinary) Rules has ordered :
(1) that his name be removed from the members register and
he shall cease to be a member of the Institute;
• the member to pay a fine of RM5,000.00; and
• the member to pay the Institute the sum of RM8,000.00
in respect of costs and expenses of and incidental to the
disciplinary hearing before the Disciplinary Committee
and the investigation conducted by the Investigation
Committee.
The decision of the Disciplinary Committee is effective 9 July
2014.
SUDIRMAN BIN MASDUKI
Registrar
On behalf of the Council of the Malaysian Institute of Accountants
DECISION OF THE DISCIPLINARY COMMITTEE
MALAYSIAN INSTITUTE OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants hereby
gives notice that on 14 March 2014, after due inquiry by the
Disciplinary Committee of the Institute, Ravindran a/l Duraisamy
(Membership No.: 27841) was found to have committed an
act amounting to ‘unprofessional conduct’ within the meaning as provided under Rule 2 of the Malaysian Institute of
Accountants (Disciplinary) Rules 2002 [P. U. (A) 229/2002] [“the
MIA (Disciplinary) Rules”].
The decision of the Disciplinary Committee was based on
the member’s own admission that he had failed to adhere to
the Institute’s By-Laws (On Professional Ethics, Conduct and
Practice) by failing to renew and maintain a policy of Professional
Indemnity Insurance (PII) for the period 1-7-2010 to 11-9-2011.
The Disciplinary Committee in exercise of its powers under Rule
18(3) of the MIA (Disciplinary) Rules has ordered the member:
to pay a fine of RM1,500.00; and
to pay the Institute the sum of RM2,000.00 in respect of costs
and expenses of and incidental to the disciplinary hearing
before the Disciplinary Committee and the investigation conducted by the Investigation Committee.
The decision of the Disciplinary Committee is effective 11 April
2014.
SUDIRMAN BIN MASDUKI
Registrar
On behalf of the Council of the Malaysian Institute of Accountants
DECISION OF THE DISCIPLINARY appeal board
MALAYSIAN INSTITUTE OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants (“the
Institute”) hereby gives notice that after due consideration by the
Disciplinary Appeal Board of the Institute (“Disciplinary Appeal
Board”) in respect of an appeal by Lim Chai Peng (Membership
60
accountants today | SEPT / OCT 2014
No.: 8906) who appealed against:
• the decision of the Disciplinary Committee of the Institute
(“Disciplinary Committee”) that has found the said member to have committed an act amounting to ‘unprofession-
MIA notice
al conduct’ within the meaning as provided under Rule 2
of the Malaysian Institute of Accountants (Disciplinary)
Rules 2002 [P.U. (A) 229/2002] (“Disciplinary Rules”), in
relation to the said member’s failure to purchase a policy
of Professional Indemnity Insurance;
• the order made by the Disciplinary Committee for the said
member to be reprimanded;
• the imposition of fine of RM3,000.00 by the Disciplinary
Committee; and
• the order made by the Disciplinary Committee to pay a
sum of RM3,000.00 to the Institute in respect of costs and
expenses of and incidental to the disciplinary hearing
before the Disciplinary Committee and the investigation conducted by the Investigation Committee of the
Institute,
the Disciplinary Appeal Board of the Institute in exercise of
its powers under Rule 28 of the Disciplinary Rules has made
an order to confirm and maintain the above decisions of the
Disciplinary Committee, except for the imposition of fine, whereby the Disciplinary Appeal Board has reduced the amount of fine
imposed i.e. from RM3,000.00 to RM2,000.00.
The order of the Disciplinary Appeal Board took effect on 4 July
2014.
SUDIRMAN BIN MASDUKI
Registrar
On behalf of the Council of the Malaysian Institute of Accountants
ORDER OF THE DISCIPLINARY APPEAL BOARD
MALAYSIAN INSTITUTE OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants (“the
Institute”) hereby gives notice that after due consideration by
the Disciplinary Appeal Board of the Institute (“Disciplinary
Appeal Board”) in respect of an appeal by Lim Kwee Yong
(Membership No.: 15200) who appealed against:
• the decision of the Disciplinary Committee of the
Institute (“Disciplinary Committee”) that has found
the said member to have committed an act amounting to ‘unprofessional conduct’ within the meaning
as provided under Rule 2 of the Malaysian Institute of
Accountants (Disciplinary) Rules 2002 [P.U. (A) 229/2002]
(“Disciplinary Rules”), in relation to the said member’s
failure to ensure that her firm renewed and maintained
a policy of Professional Indemnity Insurance;
• the order made by the Disciplinary Committee for the
said member to be reprimanded;
• the imposition of fine of RM3,000.00 by the Disciplinary
Committee; and
• the order made by the Disciplinary Committee to pay
a sum of RM3,000.00 to the Institute in respect of costs
and expenses of and incidental to the disciplinary hearing before the Disciplinary Committee and the investigation conducted by the Investigation Committee of
the Institute,
the Disciplinary Appeal Board of the Institute in exercise of
its powers under Rule 28 of the Disciplinary Rules has made
an order to confirm and maintain the above decisions of the
Disciplinary Committee.
The order of the Disciplinary Appeal Board took effect on 4
July 2014.
SUDIRMAN BIN MASDUKI
Registrar
On behalf of the Council of the Malaysian Institute of Accountants
ORDER OF THE DISCIPLINARY APPEAL BOARD
MALAYSIAN INSTITUTE OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants (“the
Institute”) hereby gives notice that after due consideration by
the Disciplinary Appeal Board of the Institute (“the Disciplinary
Appeal Board”) in respect of an appeal by Tan Chee Kuan
(Membership No.: 25506) who appealed against:
• the imposition of fine of RM1,500.00 by the
Disciplinary Committee of the Institute (“Disciplinary
Committee”); and
• the order made by the Disciplinary Committee to pay a
sum of RM2,000.00 to the Institute in respect of cost and
expenses of and incidental to the disciplinary hearing
before the Disciplinary Committee and the investigation conducted by the Investigation Committee of the
Institute
SEPT / OCT 2014 | accountants today
61
MIA notice
the Disciplinary Appeal Board in exercise of its powers under
Rule 28 of the Malaysian Institute of Accountants (Disciplinary)
Rules 2002 [P.U. (A) 229/2002] (“Disciplinary Rules”) has made
an order to confirm and maintain the order in respect of costs
and expenses, but reduced the amount of fine imposed i.e. from
RM1,500.00 to RM1,000.00.
The order of the Disciplinary Appeal Board took effect on 4
July 2014.
The said member did not appeal against the decision of the
Disciplinary Committee that found the said member to have
committed an act amounting to ‘unprofessional conduct’ within
the meaning as provided under Rule 2 of the Disciplinary Rules,
in relation to the said member’s failure to purchase a policy of
Professional Indemnity Insurance, which therefore stands.
SUDIRMAN BIN MASDUKI
Registrar
On behalf of the Council of the Malaysian Institute of Accountants
RE-APPLICATION PROCEDURES FOR CANDIDATES
WHO FAILED THEIR AUDIT APPROVAL INTERVIEW
All candidates seeking for approval to be a company auditor
or liquidator are required to sit for an interview session conducted at the Accountant General’s Department. By passing
the interview, the candidates will be able to perform his/her
duty as an approved company auditor or liquidator under the
Companies Act 1965.
Before 1 July 2013, a candidate must pass all modules (i.e. MIA,
SSM, BNM, SC and MDI (for liquidator only)) in order to obtain a
pass to become an approved company auditor or liquidator. The
passing mark is 60 for each module. Candidates would have to go
through the entire application process again and be interviewed
by the same panel consisting of MIA, SSM, BNM, SC and MDI (for
liquidator only), regardless of how many modules he or she failed.
Effective from 1 July 2013, for those who failed marginally
(50%-59%) at only one module, the candidates are allowed to reattempt for the failed module only. Should the candidate fail the
interview again during the re-attempt session, such candidates
will have to go through a fresh interview process should he or
she be determined to become an approved company auditor or
liquidator.
Re-application procedures
Effective from 1 July 2013, failed candidates are required to
submit the following during the re-application process:
Documents
Original completed
application form for audit
approval (with original
signatures and photos on all
the forms)
62
Failed one
(Marks <50)
or more
Failed one module
marginally
(Marks 50-59%)
6 sets
2 sets
accountants today | SEPT / OCT 2014
Certified True Copy of all
the relevant certificates and
Practising Certificate
6 sets
2 sets
A sponsor letter from an
accountant holding a valid
practising certificate and an
audit license
1 Original +
(5) sets to be
photocopied
1 Original + (1) set to
be photocopied
The documents required to be submitted are similar as the new
application to ensure the Accountant General’s Department will
always have the latest records of the candidates. Once received,
the Accountant General’s Department will process the forms and
arrange for the interview session for the candidates.
The waiting period before applying for the re-application will
vary, depending on the types of failures and interview dates, as
shown in the table below:
1)
Failed one (Marks
<50) or more
FAIL
6 months
To re-sit all modules
2)
Failed one module
marginally (Marks
50-59%)
FAIL
6/3
months
Depends on the interview date (see scenario
(a) to (c) below)
a)
Before 1 July 2013
FAIL
6 months
To re-sit all modules
b)
Between 1 July
2013 - 31 January
2014
FAIL
6 months
Allowed to re-sit for
one failed module only
From 1 February
2014 onwards
FAIL
3 months
Allowed to re-sit for
one failed module only
c)
Please take note that the waiting period (before the submission
of re-application forms) will begin from the date of the interview
results letter, issued by the Accountant General’s Department to
unsuccessful candidates.
Please be guided accordingly.