Lim Eng Hoe

On 14 February 2025, Eng Hoe appealed to the SC against the sanction imposed by the AOB. The SC dismissed the appeal and affirmed the decision made by the AOB. and monetary penalty of rm31,250 pursuant to section 31z(2)(h) of the scma

Failure to comply with relevant requirements of the International Standards on Auditing (“ISA”) in the engagement review of a public interest entity (“PIE”) Eng Hoe failed 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. Further, Eng Hoe failed to address the material uncertainties relating to going concern of the PIE Group and in concluding on the sufficiency of the mitigating actions put in place by the PIE Group. The audit evidence in the audit file is either non-existent or inadequate to support the audit work performed, the basis of judgement applied, and the conclusion reached in supporting the basis of the audit opinion issued.

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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