RSL PLT

Decision. On 29 December 2020, the High Court granted an interim stay of the sanctions imposed on the Firm. On 26 October 2021, the High Court ruled in favour of the AOB/SC and dismissed the Firm’s, on 26 october 2020, the firm filed an application to the high court for, to inter alia set aside/quash the aob’s decision and the sc’s, on 7 july 2020, the firm appealed to the sc on the aob’s decision. on 06 october 2020, the, the sc dismissed the appeal and affirmed the decision made by the aob., application. with the high court’s decision, the sanctions will take effect from 26 october 2021. and prohibit the firm from accepting any public interest entity or schedule fund as its client 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 securities commission for 12 months; prohibit the firm 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 commission for 12 months; and imposed a monetary penalty of rm175,000.00.

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

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

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