Sathiea Seelean A/L Manickam

Reprimand

Failure to comply with certain requirements of the International Standards on Auditing in the performance of an audit of the public listed entity.

Breach the AOB's registration condition imposed under Section 31O(3) of the Securities Commission Act Malaysia 1993 (SCMA).

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Prohibition from accepting any PIE or schedule fund as clients or preparing reports in relation to financial information of any PIE or schedule fund, as may be required under the securities laws or guidelines issued by the SC for 12 months pursuant to Section 31Z(2)(f) of the SCMA; Prohibition from auditing financial statements of a PIE or schedule fund or preparing reports in relation to financial information of a PIE or schedule fund, as may be required under the securities laws or guidelines issued by the SC for 12 months pursuant to Section 31Z(2)(g) of the SCMA; and Monetary penalty of RM87,500.00 pursuant to Section 31Z(2)(h) of the SCMA. and on 30 july 2024, sathiea appealed to the sc against against the aob’s enforcement action. the sc dismissed the appeal and affirmed the aob’s decision. the prohibitions to accept and audit any public interest entity or schedule fund for 12 months will take effect from 22 october 2024.

Failure to comply with relevant requirements of the International Standards on Auditing (ISA) Sathiea has failed to obtain sufficient audit evidence to support his audit opinion in key audit areas namely cash and bank balances, prepayments and investments.

Breach of Section 31Z(1)(b) of the Securities Commission Malaysia Act 1993 (“SCMA”) for failure to comply with the registration conditions imposed by the AOB pursuant to Section 31O(3) SCMA.

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