Ernst & Young PLT

Monetary penalty of RM125,000 pursuant to Section 31Z(2)(h) of the SCMA and on 14 february 2025, ey appealed to the sc against the sanction imposed by the aob. the sc dismissed the appeal and affirmed the decision made by the aob.

Failure to comply with relevant requirements of the International Standards on Auditing (ISA) in the engagement review of a PIE EY was sanctioned for the failure to perform adequate audit procedures and obtain sufficient appropriate audit evidence to evaluate the appropriateness of the PIE Group’s use of the going concern assumption in the preparation of its financial statements for the financial year ended 31 December 2021.

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.

sc.com.my